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Thread: Credit Rating US-->NZ

  1. #1
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    Question Credit Rating US-->NZ

    Hello,
    Anyone know if one's credit rating, ie credit score from the United States will follow them to New Zealand as a migrant? I assume one would need a credit history to rent an apartment, apply for a credit card from a NZ bank, take out a phone contract, etc.

    Hopefully someone out there has made the move and can tell me how this works.

    Thanks.

  2. #2
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    Your US score will not follow you here. To rent an apartment, you will most likely need references (supposed to be from a previous landlord, but we just used the three people we knew in NZ) and a deposit. For a credit card, you will need to provide proof of income...maybe proof of some assets. I don't really remember the phone...

    There are companies doing credit scores here, but it has not really caught on like in the US. http://www.nzherald.co.nz/nz/news/ar...ectid=10585699

    If the bank ran one when they gave us a mortgage, they never told us.

    Quote Originally Posted by ScottNZ View Post
    Hello,
    Anyone know if one's credit rating, ie credit score from the United States will follow them to New Zealand as a migrant? I assume one would need a credit history to rent an apartment, apply for a credit card from a NZ bank, take out a phone contract, etc.

    Hopefully someone out there has made the move and can tell me how this works.

    Thanks.

  3. #3
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    AFAIK one's overseas credit rating is not 'transferred' to here, i.e. there are no agreements between NZ and overseas credit rating organisations. So one generally starts from scratch, though often with quite a positive attitude towards immigrants.

    Generally one is asked in these instances to provide two NZ references. For many it is their first employer and an job and/or immigration agent when they need it the first time, to get accommodation.
    Last edited by ralf-nz; 26th July 2011 at 07:38 AM.

  4. #4
    Manks's Avatar
    Manks is offline Serial procrastinator and general busybody
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    As the previous posters have said, your overseas credit rating does not follow you. But then it is not such an important issue here. Having moved to the US three years ago, and with a fantastic credit rating in the UK, I understand how you're pretty much persona non-grata in the US without a credit rating and it takes time to build some up.

    It's very different here though. We've rented two properties and neither wanted to see references (both dealt with the landlords directly through TradeMe). Credit card company wanted to see proof of incomes etc. But I think NZ is quite accustomed to handling new immigrants and treating them with respect - something you don't really get in the US, where I applied for a gas card (rejected) and Home Depot store card (rejected) after which point I gave up. And every time I got offered a store card in Macy's et al, I just told them I'd never be approved so no point. Although I think there was a noticeable point where my credit rating improved as I started getting heaps of mail offering me credit cards!

  5. #5
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    Over here it's done the opposite way round. In the UK /US then you need to demonstrate good behaviour to build a score. Here, then it's done on a negative approach, where they record if you've defaulted, but otherwise a new arrival will be assumed to be just as good as someone who's not defaulted. That's for normal run of the mill stuff, but I've had no problems whatsoever with credit cards, or car finance. Not applied for a mortgage, but I'm not anticipating any problems having talked to others / the bank.

  6. #6
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    We had no problem organising a mortgage in under a week, from overseas. Really impressed by the banks not making you jump through hoops, they had a very positive attitude. All they wanted was proof of residency, photo ID and copy of employment offer.

  7. #7
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    I recall that Vodafone used my WTR visa as my credit check, I presume because of the salary requirements associated with it.

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