HSBC/ NatWest/ Santander premier card

Marchitiello

comeocome said:

Marchitiello said:

I was new to the country, albeit i immigrated permanently to start my university studies, I had come for the previous two summers to works and study and thus opened an account at 17. I have also helped many fellow EU immigrants over time and I can tell you that they did obtain a CC much earlier than three years, some times within 6 months or less. The trick was to register them straight away on the electoral roll and open/register themselves on some household bills and/or take a phone contract. You may only get their basic card initially and potentially with a low credit limit, but could later product swap to the version you aim for.

as an additional point of reference, I have Premier accounts with more then one UK bank, and when I opened my HSBC Premier Account and Card (done at the same time, in branch, with a Premier manager), I got offered a 5 digit overdraft facility (which I declined for a much lower limit) but only a 4 digits CC limit, which I was then able to double within 6 months of usage and since increased again.

When you said EU citizens who moved to the UK, did they have a high income? Did the EU passport make it easier vs other nationalities? 

How long did it take them to move from a non usable low limit credit card to a good rewards card/ proepr limit? 

Actually, is it a good thing to get the overdraft? (Not that I would ever use it). 

No premier level of  income,  employees in companies where I was a senior manager /director (albeit I have just realised that it was all before Brexit was finalised in 2021, so not sure if the EU was a factor other then getting a Bank Account opened in the first place.

I do not know the details of every person that I helped getting started with bank accounts and credit cards, but as I have mentioned with my own experience even more recently and for someone that has over 25 years of credit history now (and also from some of feedback that those I helped gave me), credit lenders may be more cautious with Credit Card limits, and take at least 6 months of usage before reviewing limits. Barclays has been reported as giving a £200 limit until income could be verified, but this was for people that do have already a credit history in the UK.

As Perksys5 mentioned, a relationship with a Premier Banker will often help, although since Covid I have noticed they have lees influence and for some bank like Barclays, almost an impossible job in dealing with Barclaycard.

accepting an Overdraft facility and not using it, will also help you build further your credit profile (together with being on the Electoral Roll, having utility bills in your name, etc).

I know you are seeking some reassurance but in reality getting landing policy vary greatly by Financial Institution and even within each institution, vary overtime, so at the end of the day, you will need to simply try first hand and move from there. You may indeed have to wait at least 6 months or more before you get the products you are aiming for.

comeocome

Marchitiello said:

comeocome said:

Marchitiello said:

I was new to the country, albeit i immigrated permanently to start my university studies, I had come for the previous two summers to works and study and thus opened an account at 17. I have also helped many fellow EU immigrants over time and I can tell you that they did obtain a CC much earlier than three years, some times within 6 months or less. The trick was to register them straight away on the electoral roll and open/register themselves on some household bills and/or take a phone contract. You may only get their basic card initially and potentially with a low credit limit, but could later product swap to the version you aim for.

as an additional point of reference, I have Premier accounts with more then one UK bank, and when I opened my HSBC Premier Account and Card (done at the same time, in branch, with a Premier manager), I got offered a 5 digit overdraft facility (which I declined for a much lower limit) but only a 4 digits CC limit, which I was then able to double within 6 months of usage and since increased again.

When you said EU citizens who moved to the UK, did they have a high income? Did the EU passport make it easier vs other nationalities? 

How long did it take them to move from a non usable low limit credit card to a good rewards card/ proepr limit? 

Actually, is it a good thing to get the overdraft? (Not that I would ever use it). 

No premier level of  income,  employees in companies where I was a senior manager /director (albeit I have just realised that it was all before Brexit was finalised in 2021, so not sure if the EU was a factor other then getting a Bank Account opened in the first place.

I do not know the details of every person that I helped getting started with bank accounts and credit cards, but as I have mentioned with my own experience even more recently and for someone that has over 25 years of credit history now (and also from some of feedback that those I helped gave me), credit lenders may be more cautious with Credit Card limits, and take at least 6 months of usage before reviewing limits. Barclays has been reported as giving a £200 limit until income could be verified, but this was for people that do have already a credit history in the UK.

As Perksys5 mentioned, a relationship with a Premier Banker will often help, although since Covid I have noticed they have lees influence and for some bank like Barclays, almost an impossible job in dealing with Barclaycard.

accepting an Overdraft facility and not using it, will also help you build further your credit profile (together with being on the Electoral Roll, having utility bills in your name, etc).

I know you are seeking some reassurance but in reality getting landing policy vary greatly by Financial Institution and even within each institution, vary overtime, so at the end of the day, you will need to simply try first hand and move from there. You may indeed have to wait at least 6 months or more before you get the products you are aiming for.

Oh well. At least 6 months are better than 3 years to build a credit profile/ climb the credit ladder, that’s whah some people say online! Maybe that’s for people who default before..