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When I first wanted to move abroad, the main obstacle in my path was my debt. I had quite a big debt and had to get rid of it before being able to do anything. So, I stopped the holidays, most of the dvd's, the car and a lot of other things that cost money. And I paid back the debt at double speed. But not having any debt wasn't enough, I needed money as well. I continued without the holidays and the car and a lot of other things that cost money. Until I had saved up enough to visit the country of my desire. And then the other country of my desire.
When I moved from the Netherlands to Norway, I came without debt and with money. I had a letter from the Dutch credit rating company saying I was without debt and had been for some time. I needn't have bothered with that letter. The Norwegian bank told me basically: you start from scratch. Not just because they didn't trust me, but because they had had huge problems in the past with people applying for loans and credit cards, taking out the maximum and then disappearing and not repaying.
Over the past year I have paid every bill I got. Most of them are paid automatically so I can't forget. I have bought things online and paid those as well. I have not been below the black line. I have saved a bit. And after the year I had to wait, I made my way to the bank yesterday. And applied for a credit card with the lady who had told me I had to wait for a year.
The application was denied! DENIED!! Well, the lady remembered me and immediately got on the phone and demanded to know what was going on! She has a steady job, she told the person on the other side. Full time as well. No debts. Little savings. She is Icelandic! (Dutch actually) She is Dutch!
I will soon have a credit card. My first step on the road to Norwegian credit rating.
PS: I think everybody knows you need good credit rating to get loans and mortgages. Either that or a bucket load of cash. Since I don't have the latter, the former will have to do. And in order to get that, I will need a credit card and next year perhaps a car loan. Moving up on the rating's ladder so to say!
I first applied for a credit card in 1969 or 1970. The limit was $1000, and I borrowed $500 on it and paid it back on schedule. I never asked for the limit to be increased. Never. It is now something ridiculous, like $30,000, every increase at the instigation of the credit card company, never at my request.
ReplyDeleteScary.
But I hope you build up your Norwegian credit rating. It sounds like a matter of slowly but surely. Looking forward to seeing you in the Badlands!
Luv, K
Well I'm glad that lady remembered you and fought for you. Hooray!!!
ReplyDeleteHari OM
ReplyDeleteUgh this rings bells in the minute with me - as am in process of home purchase and although born here, it's been 25 years since I lived in the country and now am being treated like a 'furriner'... starting from scratch for sure!!
Congrats on the Cr/Crd and here's to being on the up. YAM xx
It's a lovely country, but they have some odd ways.
ReplyDeleteThrough all my life I have never payed anything on credit, except the last 3 cars and the house of course, but that is finished since a long time. I only take credit when there are 0 % interests, then it would be stupid to pay cash. That happened with washing machine, fridge and dryer.
ReplyDeleteI have a few credit cards, but I never use them. I had a small student loan and a car loan and paid both off ahead of time. I probably should use my cards a little more actively but I hate them.
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