Moving to another country can be an extremely exciting but often daunting time. Not only do you leave friends and family behind but you also have to make adjustments to exactly how you go about achieving everyday tasks such as shopping and paying bills, that were previously carried out trouble free.
The first thing you may notice after investigating all the beautiful Aussie beaches of course, is that Australia does not often have caught onto buying online or over the unit the easiest way. As a new resident in town, don’t be surprised if you are somewhat confused and frustrated to discover that you can no longer use your debit card to make purchases, bookings and bill payments. Instead you will need a credit card to do just about all of these things.
When it comes to finding a new credit card, to be turned away because you’re a temporary/non-resident category, the temperature certainly starts to rise and not just the one displayed on the mercury.
Taking a few steps back, it’s important to look at the history of Australian finance and why things are how they are. Australia’s banking environment was deregulated in 1980’s which resulted in a lot more competitive environment and a better deal for the borrower. This is very good news for residents and non-residents alike as it means more variety of products and lenders to choose from. Good news so far, we hear you say.
So how does a temporary or non-resident go about applying for a credit card? If you shop around, there can be a number of lenders who are willing to issue credit cards to not for residents and temporary citizens, obviously governed by certain approval criteria.
The ANZ Credit card is just one of these credit cards that is available to both residents and not for residents of Australia who are over 18yrs of age and have a good credit rating. Generally speaking, a permanent Australian resident in town requires a minimum annual salary of $15, 000 and non-Australians/temporary residents demand a typical minimum salary of $50, 000+. That is the unfortunate catch. You will be often best served to submit your online application, and expect a referral note to be handed over if you don’t often meet the salary requirement criteria. The bank/vendor will get in touch to discuss your needs and suggest for you if you can still apply.
Other lenders who consider offering credit cards to not for residents include:
— ANZ — minutes earn $50, 000
— Amex — 457 visa (current temp business long stay visa)
— Aussie — minutes earn $50, 000
— CBA — Current Australian visitor’s visa
American Express currently takes residents who are on a 457 visa. This is a temporary business long stay visa, as usually sponsored by an employer to grant you the right to work and reside in Australia on a temporary basis.
If you are on a 457 visa, then perhaps an American Express credit card may be suitable for your needs and circumstances. As the Amex fine print displays that you can apply for any card out of their range if you meet the 457 visa requirements for non-residents and further meet the general income earnings criteria.
Aussie Mastercard is another credit card that enables temporary/non-permanent residents to apply for their credit card if you earn $50, 000 and above their specified income threshold creadores de permisos de residencia en línea. Aussie currently offers a fantastic deal with the Aussie Mastercard, introducing a low rate and annual fee.
Commonwealth Bank currently takes according to their terms and conditions fine print Australian visitor visas. If you have a current Australian visitors visa and meet all of the other identified accept criteria, then you can apply for a credit card with Commonwealth Bank.