which bank gives you more ?

[pegg]

Hey guys,

So weve been here for around four months now. We have rental ,schools sorted , job sorted ( and now employed - not permanant temporary )etc etc.

However since being here we have pumped £15k into the WA economy so our "safety buffer" in cash is pretty lowish at the moment.

 

Anyhow , we bank with NAB and to be honest - we get nothing, no overdraft, no credit card etc - So we are just wondering if any of you guys get a better deal with your bank ?

We are on a permanent residence visa ….. So may just have to work 6 months minimum , not sure.

It would just be nice if we had credit card - incase anything nasty comes our way !

Also we bought a car on arrival , its ok …… but in time we will prob need a bigger and newer vehicle .

 

So yep , just wondering is it just a waiting game ? or did any of you guys get a better banking deal ? free cigars etc )

 

thankyou you are all wonderful !

[elfie]

Nab has a pretty good rep to be honest have been great for us, but then we have no overdraft and only in last 12 mths had a credit card. We were pretty stringent on arrival 4.5 yrs ago .. It worked for us, but not for everyone. As for overdraft and credit card facility i think that posdibly is a waiting game. Your credit rating in the UK may have been 100% but here on arrival its 0% as your an unknown risk. Make a regular savings plan no matter how small eavh week / month they serm to favour that. Basically if you cant afford it dont buy it re credit cards, they are not favourable on late payment for anything here including utilities. If your not happy with Nab make apptointments at other banks ho see them in person see whay they have to offer. good luck im sure you will find a deal your looking for.

[ali]

We've been with Westpac since before our move - opening our account from the UK (have our mortgage with them too). We don't have an overdraft, can't remember when we applied for the credit card.

[pegg]

Cheers @elfie and @ali ….. my other half just told me its 6 months for credit card . forgot to inform me ;o)

 

I think its just a worrying as were trying to save bits … then bills come etc etc. But to be honest we never had credit cards in the UK , so perhaps well just keep adding to savings .

thanks again guys

[FOL]

I can imagine the worrying. We have never really been tight for cash, until a few months ago when we bought our house and we have a significantly smaller buffer than ever.

 

Anyway, a credit card is never a good idea in my opinion. I understand why you would want it, but if you can't save money now for the buffer, you can't save money either to pay off the credit card and then the 19% interest starts to hit you and things go south rather quickly. Again I definitely understand it, the good thing is you start thinking and worrying about it before you are a troublesome situation. Hope you find a different route and which reduces your worries. It is terrible to have financial worries... Take care!

[pegg]

again good advice @FOL , cheers guys.

I think really we just want to start getting a history of a credit rating - so obviously wouldnt max a card out , just use for fuel pay off end of month etc …. just to build up a good credit history , ready for the day when we can get a mortgage )

 

But cheers guys - And whats with this flipping weather !!!!! rain rain rain cold nights rain ;o)

[Bibbs]

They are all pretty similar. But one of the 'big 4' just offered me a 'Relationship Manager', where I call him and he sorts out all my issues.

 

He's just sorting a re-morgage for me at lower rates, so will see how it goes.

 

** Edit to add, get a Credit Card, use it for everything and pay it off in full.

When combined with an offset mortgage, it'll shave years off the loan.

Edited September 27, 2016 by Bibbs

[Rossmoyne]

I think all the banks are much of a muchness really. I am with Bankwest as we transferred our money with them from London and just stayed with them. I didn't have a credit card for about 5 years initially, but only use it for bills etc and pay it off completely every month. Elfie's advice to have a regular savings account, however small the amount each deposit, is good advice as the banks like to see that you are regular with payments. When it comes times to get a mortgage, also consider consulting a Mortgage Broker like RAMS or Aussie Loans. When my son bought his first house last year, he went to all the banks to see what they would offer, and then visited an Aussie Loan Centre and ended up with a mortgage with BOQ at a lower interest rate than they were offering direct. So worth a good look around.

[pegg]

Great advice , cheers guys