Immigrants to UK can "use" credit histories from overseas..

[shri]

Might be of use to some HKers who have moved to the UK, hopefully soon.. HK is not covered at the moment.

The release notes that HSBC is the first bank in Great Britain to offer this service, coming at a time when the U.K.’s immigrant population accounts for 95% of the U.K.’s net population growth, with that figure projected to grow to 100% by 2025.

However, these new arrivals “can face real and unique hurdles when settling into their new lives in the U.K. — from struggling to set up essential services due to lack of local credit history to juggling finances between locations and understanding tax considerations,” said Madhu Kejriwal, HSBC’s head of unsecured lending.

Collin Galster, Nova Credit’s head of international, adds that with England’s population growth coming from migration, “businesses cannot win without a dedicated strategy to better attract and retain this highly prized, yet underserved segment.”

The program is thus far open to immigrants who come to the U.K. from Australia, Brazil, Canada, Dominican Republic, India, Kenya, Mexico, Nigeria, Philippines, Spain, Switzerland, and the United States, the release said.

https://www.pymnts.com/financial-inc...-their-credit/

[chuckster007]

20+ years with HK HSBC, credit card limit of HK150K, moved to UK and got rejected by HSBC UK for a credit card LOL computer says no even when i called up telling them of my HK HSBC accounts. OH well got a shitty CC from another bank to create a credit history.

HSBC SUCKS!!!!

[shri]

Now you know who to call next time... ask for Aunty Madhu when you call them.