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I really want to know


#1  2010-07-02 01:46:21

jaelyn
New member
Registered: 2010-07-02
Posts: 1

I really want to know

When I move to Sydney (a year from now mind you) will my US (FICO) credit score follow me or be used in Australia at all? If not how do I go about building credit?




 
 
 
 

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#2  2010-07-04 13:41:00

joerobson
Active member
From: Canberra
Registered: 2009-09-17
Posts: 69

Re: I really want to know

Hi Jaelyn,
In Australia, you will have to be a Permanent Australian Resident or Citizen of Australia to apply for credit.  You can't apply for credit if you live here on a visa.  Your US credit score is not used in Australia.  Your credit rating is calculated a bit differently in Australia than in the US.  From what I understand (I'm not an expert) in Australia it is more basic and looks at your income and payment history.  Late payments or no payments = bad credit.  In the US, the rating also includes if you are a 'profitable' risk (like if you carry balances over long terms, and tend to pay lots of interest-- that could actually raise your score in some cases, even if you may have delinquencies) and I don't think that is part of the rating in Australia.  Again, I'm not an expert, but I hope this helps a bit.

Good luck!




 
 
 

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#3  2010-07-05 04:54:32

FeeAcer
ViP
FeeAcer
From: Ras al Khaimah
Registered: 2009-08-06
Posts: 5830

Re: I really want to know

Hello and welcome on board jaelyn smile
What is your goal by going to Australia?




 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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