When moving to new zealand does your prior credit status follow you or can you start anew?

Question

When moving to new zealand does your prior credit status follow you or can you start anew?

Answer 1

It won't follow you, the major credit check that most agencies use is completely NZ based. Your biggest problem is that you will have no credit rating and you will find it hard to get credit because of this.

Answer 2

It would depend on which country you are moving from...

however... your prior credit status will not follow you immediately... if you are working and have credit references in NZ then you will be able to apply for credit there ... but eventually maybe after a couple of years or so, your prior creditors MAY find you but that depends on whether you default on any creditors in NZ..

PS - NZ (like Australia) doesn't have social security numbers only tax file numbers whichbtw are not used for tracking down credit defaulters...in y experience any way.

Answer 3

"Pcorin" makes some good points.

If you owed alot of money in your country (or where-ever you are currently staying), then wherever you go in the world, you might be chased for repayment.

Credit Satus is not generally something that follows you from country to country which is probably great for criminals. So much for the global economy getting things right!

Answer 4

Yes it will follow you because when you apply for things you still would need to use your social security number.

Answer 5

if you mean can a bank in NZ look up your credit history in the US. the answer is no. You start new in NZ.

YOur credit file in the US is based on your SS #, they dont use them in NZ, so they cant look it up.

Answer 6

It amazes me how some people answer questions when they clearly have no idea.

However the majority of answers here are correct.

The checks that financial institutions do here in New Zealand are purlely New Zealand based.  I used to work for a bank, and saw many of these credit checks, and the amusing explanations that accompanied many of them.

The checks are done with baycorp, and each time a check is done, or anything happen in regards to your credit, it will be recorded.

So when you first arrive, you will have a clear record, but as another person pointed out, this will make you pretty suspect.  You won't be able to get a signficant credit card or mortgage until you have some credit history.

Having said this however, the New Zealand banking scene is VERY competitive, and usually the first thing to go out the window is security (I was given an $8000 credit limit as a student).  So anything could happen.

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