Comments on: Immigrants and banks don’t mix http://crystalluxmore.com/2007/03/13/immigrants-and-banks-dont-mix/ on journalism, thrift and other miscellany Mon, 31 May 2010 16:22:17 +0000 hourly 1 http://wordpress.com/ By: Martin Lewis http://crystalluxmore.com/2007/03/13/immigrants-and-banks-dont-mix/#comment-8 Martin Lewis Wed, 14 Mar 2007 08:56:31 +0000 http://thriftygirl.wordpress.com/2007/03/13/immigrants-and-banks-dont-mix/#comment-8 Your blog flicked into my Google Alerts. What you describe is a common scenario; we have a big problem with the banking disenfranchised in the UK. Three thoughts for you. 1. I presume you're not on the electoral roll. This is crucial for all applications. If you send the three credit reference agencies a. Equifax, b. Experian and c. Callcredit proof of residency details and ask them to display it - it should help your credit score. 2. Once you've done this you should be eligible for a basic bank account. This is a specific product that should be asked for by name, which will at least give you access to minor banking facilities. 3. At that point get yourself a UK hideous high rate credit card - as they're easy to get - Capital one or Associates. Then spend about £50 on it a month, for a few months, always repaying in full so there's no interest. This will build your profile so when you're credit scored again you'll have details and it should help - ridiculous I know, but there we go. 4. After that all should be back to normal. Goodluck Martin (there's more in my Credit Scoring article) Your blog flicked into my Google Alerts. What you describe is a common scenario; we have a big problem with the banking disenfranchised in the UK.

Three thoughts for you.

1. I presume you’re not on the electoral roll. This is crucial for all applications. If you send the three credit reference agencies a. Equifax, b. Experian and c. Callcredit proof of residency details and ask them to display it – it should help your credit score.

2. Once you’ve done this you should be eligible for a basic bank account. This is a specific product that should be asked for by name, which will at least give you access to minor banking facilities.

3. At that point get yourself a UK hideous high rate credit card – as they’re easy to get – Capital one or Associates. Then spend about £50 on it a month, for a few months, always repaying in full so there’s no interest. This will build your profile so when you’re credit scored again you’ll have details and it should help – ridiculous I know, but there we go.

4. After that all should be back to normal.

Goodluck

Martin

(there’s more in my Credit Scoring article)

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