Credit file for expats

pilotamx

Hi all,

As an expat, I do not have any kind of history here in UK. I was wondering if moving money in UK and putting 20k GBP into a saving account can contribute to build a good score.

Also, could be useful to get bank references from my previous country and get them 'registred' by experian or other rating companies?

Thx
S

[Deleted User]

You'll need to be UK resident. Register on the ER when you can.

Savings account don't appear on CRA files. You'll need to open a bank account, try a sub prime credit card to build some history (not score).

Any overseas accounts won't show.

pilotamx

I am. Or at least: I live here since the beginning of May. I work here since the mid of May. I have an official tenancy agreement and I pay various taxes.

[Deleted User]

Great - then look to open an account, a credit card if you can. A contract phone can also help build some history.

pilotamx

I am opening two accounts. I have a corporate credit card (but this is totally paid by the company, I think it does not help). I can look to have a contract phone.
Of course, I have council tax, water/gas/electricity bills, a car, a car insurance, etc....

[Deleted User]

Only the phone and current account will help build credit history out of that lot, but not to a huge degree.

Look at someone like Vanquis or Aqua.

pilotamx

I see that also Barclays has a credit card for building up credit score...it might be easier as I am barclays customer

[Deleted User]

Barclays would also be a good choice. But do ignore your credit score.

It will go down as you build a good history, so can't be used as a guide. It has no meaning in the UK.

pilotamx

Deleted_User wrote: »

It will go down as you build a good history, so can't be used as a guide. It has no meaning in the UK.

mmm...what do you mean?

[Deleted User]

Universal credit scores don't exist in the UK. The numbers that the CRAs provide are just very very very loose guides but not used or seen by anyone.

People come unstuck when they panic that their score has dropped for no reason, and then do something stupid like close their credit cards.

Therefore the best advice is to ignore it, but monitor your actual files.

pilotamx

Recalling this conversation. I am looking to apply for a phone contract with monthly payment. I have a good company deal with Vodafone. Vodafone states that they perform a credit check before opening the contract. My doubt is what to expect if Vodafone does not find financial information for me. I mean, I tried to register on experian and I was not able to finish the application as they are not able to prove my identity (cause probably I am too new here in the UK).
So, what can I do? Should I wait until a credit file for me become available and then apply for a phone contract, or just apply now?