How Long For Credit?

I can definitely say within 6 months if you're working a nice job.

I moved here 1st February, worked temp, but didn't get my present position until 1st June.  I was shopping in Debenhams in July, one of the clerks offered me an application for a store card.  I told him at the time I didn't think I would be accepted, but he said give it a try, so I thought why not.

I didn't fudge anything, he asked my residence address, how long I'd lived there, my job, how long I'd been working there, where I worked before, where I'd been living before February.  I told him at that time Sweden, gave my residence address in Sweden.  He stuck it into some kind of machine that read it, I assume, and then told me I was being issued a Debenham's card with a £250 credit limit.  Okay, whatever.

I have to say that given that, when I was asked a few weeks later at BHS if I wanted a store card, I thought why not (although I seldom shop there), but I didn't get the card, same procedure.

Then in August, I was asked at Marks & Spencers and I do have to say I DO do quite a bit of shopping there, and it wasn't for a store card per se, but a M&S Mastercard.  I didn't realize that when I was applying, once I found out, I thought for sure I would be turned down, I mean it's a Mastercard already, but about 2 weeks later, there's a Mastercard in the post and I have to say, the credit limit is in the low thousands, not hundreds.

That being said, I do NOT buy often on credit and my Mastercard is used only for things like plane tickets home and theatre tickets when my husband came to visit from Sweden, but I also throw a few hundred at it, not the minimum payment either, but the fact remains, I have a real credit card and I have only been working my full-time job since 1 June and have only lived here since 1 February and I don't have a husband living here either.  I'm also not a stockbroker or anything like that, I'm a legal secretary working in the City of London, which is admittedly a pretty well-paying job, but still ....

So that's just one person's credit story, for those who ask how long it takes here in the UK.

Congrats IdahoSwede!

However, I don't think the situation's going to be much the same for the rest of us coming directly from the states.     Its possible because you have a tracable EU address & since the UK is part of the EU they can trace it...

It took me about a year and a half to get a credit card over here, but I think that was primarily down to making regular deposits, not going over & DH working for said bank.     I think its all just going to be down to being reasonable with your money. 

My husband and I, both Americans, got an M&S Mastercard within three months of moving from the US.

I don't know whether it might have made a difference that the card is through HSBC, where we have both US and UK accounts. We haven't bothered applying for any others.

hiya

There is 'more' to this than meets the eye - nothing personal but the higher level of 'consumer spending and cheap loan availibility' culture in the UK

I am not at all surprised at how easy it is to obtain cheap loans, credit cards, store cards (one of the worst things ever at the interest rates they charge) etc. Even for more normally harder to get those items by newly settled/working in the UK people - it's just too easy to get cheap money.

The reason is that in the bigger picture of things, the 'money machine' hopes you'll spend beyond your means to pay back the debts you accumulate - creating interest which on paper means the 'money machine' gets richer and in turn the 'UK gets richer'

It is of course a complete illusion - but the social and cultural blindings especially in the UK, means many or actually, the vast proportion of the population cannot recognise it as such. Hence why the UK has the highest levels of consumer credit card debt than all other european countries COMBINED!  that is extremely scary!

without wanting to get personal, Idahoswede - I'd suggest and almost 'urge' you to put away that store card and only use it with small amounts that you can payback easily at the end of each month to help boost your credit rating. Please, don't rack up lots on it with getting lots of clothes etc! the interest rates are extrortionate!

Instead, do the same with a normal credit card - if at all possible pay off at the end of each month and you'll watch your credit rating rise.

the trick of course is to borrow sensibly with what you can realistically afford to pay back - so overall, dont be tempted too much by all this cheap money being almost thrown at you - because soon you'll start to get those 'Pre Approved Visa Credit cards' popping through the post !!

Good luck with all others starting and building their credit ratings here - just be careful too!

Cheers! DtM! West London & Slough UK!

Dennis, Thanks for the advice. I'm 57 years old and did my fling with cards about 30 years ago and learned then.  I got my M&S card (interest free until March) and put my £900 March trip to Egypt on it and have since been making £300 a month payments against that.  Once that is done, it goes in my jewelry box and will come out occasionally for airline tickets if need be, but in the meantime, I will have my next year's holiday paid for by 1st December, a zero balance on the card and I'm okay.  I seldom buy at Debenhams and pay it off when it comes due.

I arrived last October on a spousal visa, and just recently got a credit card with RBS (I opened an individual and joint account with my husband with them last December). I think it may have helped that I have had an account opened here with Nat West since 2002 (when I was here as a student) that I had left open. I went in last week to upgrade/change details on my NatWest account, and they have offered me a credit card as well. The main thing they were interested in seeing was that I had 3 months of bank statements from my RBS account, which showed my salary being deposited each month. I think I probably could have been approved for credit sooner, but I have only been working since April, so waited until now.

Funny thing is, I still cannot purchase through Littlewoods catalogue company since I haven't lived here for 3 years (that's on their credit plan, I could buy if I used my credit card  ).

I opened up a savings account and current account at Natwest when I moved here in March. They said if I had a job at the time I could've gotten a credit card. I didn't have a job till May and I went into the bank in August to apply. A week or two later a shiny Mastercard arrived in the post. Granted it only has a £400 credit limit, but it's something to help build up my credit. I used it while in Florida on holiday for rental cars, but that's it. Like IdahoSwede it's really only going to be used for plane tickets home (well, it will be when the credit limit goes up).

Yeah, not sure why specifically but we got a mastercard the 1st day when we opened our HSBC accounts (he asked us what limit we wanted). I think that was because we had full-time jobs? That said, my husband was the primary account holder and they sent him a card but not me initially. He had to request an additional card for me. He's Swedish so I don't know if that plays into any of it either. i finally got my card this week.

I opened up a savings account and current account at Natwest when I moved here in March. They said if I had a job at the time I could've gotten a credit card. I didn't have a job till May and I went into the bank in August to apply. A week or two later a shiny Mastercard arrived in the post. Granted it only has a £400 credit limit, but it's something to help build up my credit. I used it while in Florida on holiday for rental cars, but that's it. Like IdahoSwede it's really only going to be used for plane tickets home (well, it will be when the credit limit goes up).

just a word of warning- i know you may have no choice- but natwest's credit card is horrible for overseas purchases.  the fees are crazy. 

Hi Idahoswede

I wasn't trying to be negative to you personally in anyway! apologies if it came across that way - from what you replied, you are careful with your money, there's a vast majority of people similar to you who are NOT careful - so I think yer doing just great as you are!

The rest of my post was where I was trying to point to use given credit wisely rather than the 'UK Norm' of keeping up with the jones' - and you only have to look at the figures to see the ridiculous trend of the UK to buy now and not know how to pay later!

Overall, I think this is a good post and one I'll monitor as the direct experience is excellent knowledge for me for when I launch my (still!) forthcoming personal financial website!

Cheers! DtM! West London & Slough UK!

Overall, I think this is a good post and one I'll monitor as the direct experience is excellent knowledge for me for when I launch my (still!) forthcoming personal financial website!
Cheers! DtM! West London & Slough UK!

Are you going to become the next Martin Lewis?    

Good on you for getting the store card Idahoswede.  I don't have the guts or the patience to try for store cards - I just don't need 'em (especially now).  However, they are a good way to get yourself "established" in the country...

Are you going to become the next Martin Lewis?    

Good on you for getting the store card Idahoswede.  I don't have the guts or the patience to try for store cards - I just don't need 'em (especially now).  However, they are a good way to get yourself "established" in the country...

Haha! Yes! but with a different angle

Cheers! DtM! West London & Slough UK!

Is it true, as I have heard, that UK credit card companies will let you spend more than your credit limit - and then charge you fees for going over your limit, in addition to which you will have to figure out how to pay back the extra money that you spent, and can lead  you to accumulate more and more debt as the charges build up?

Unlike in the US, where if you want to purchase something that brings you over your credit limit, the credit card company just won't authorise the purchase.

Is it true, as I have heard, that UK credit card companies will let you spend more than your credit limit - and then charge you fees for going over your limit, in addition to which you will have to figure out how to pay back the extra money that you spent, and can lead  you to accumulate more and more debt as the charges build up?

That I have never heard about and would be something I would be most unlikely to do anyway, as I don't go anywhere near my limit even when I think I desperately want something.  Want and need = two different things entirely.