Loans & Credit Cards for New Residents of Ireland

Elfminster

Greetings to you all.

I recently moved from the UK to Ireland, where I now live and work, so I have a few questions regarding getting finance in Ireland.

Does anyone know how long it will be before I am eligible for a loan and credit card?

I have been with Permanent TSB for the past 3 months, having my wages paid directly into the account, but I just opened an AIB bank account because I wanted the Laser/Maestro/Link combo card.

If I were on 25,000EUR a year, with no debts, what kind of loan could I realistically acquire? You see, I would like to buy a car and a new laptop

I am currently saving, and have about 4000Euro in my Permanent TSB account now.

Couple more questions, out of curiosity, Dixons told me that I would need to be in the country for 2 years before I could apply for credit - what if I were to tell them I had been here for 2 years, how do they actually find out if I am telling the truth? All they seem to ask for is latest bank statements and utility bill...

As you probably know, in the UK we have the Electoral Role that providers lenders with proof of length of time at current address; is there anything like that here?

Is it worth trading in my UK drivers license for an Irish photo card license, so I don't have to show my UK passport as a form of identity, which might make the lender suspicious?

I really need to get my name onto the Irish Credit Bureau, so I am viewed as a good risk, any hints and tips much appreciated.

Cheers!

Dr.Bunson

Here are three things you can do...

1. Get a credit card, and keep in credit.

2. Open a long trem savings account (this will show committment to staying in the country).

3. Change you're citizenship to Nigerian an claim assylum, then the government will hand you everything for free..... the only thing about that is you won't be allowed to work...but that's okay when you get EVERYTHING for free.

BuffyBot

Elfminster wrote:

Does anyone know how long it will be before I am eligible for a loan and credit card?

Normally, you're going to have to have few years credit record built up. It works pretty similar in Ireland as it does in the UK. So save well, have accounts, do all the usual.

If I were on 25,000EUR a year, with no debts, what kind of loan could I realistically acquire? You see, I would like to buy a car and a new laptop

Different lenders have different criteria. However, car finance packages are generally a little easier to get because they are secured on the vehicle itself. However, your short amount of time in the country may still count against you.

Couple more questions, out of curiosity, Dixons told me that I would need to be in the country for 2 years before I could apply for credit - what if I were to tell them I had been here for 2 years, how do they actually find out if I am telling the truth? All they seem to ask for is latest bank statements and utility bill...

As you probably know, in the UK we have the Electoral Role that providers lenders with proof of length of time at current address; is there anything like that here?

Yes, there is an electoral register, and credit bureau etc just like in the UK

Basically it's going to take a little time, but if you're consistent (personally I wouldn't have hopped banks so soon) you'll more than likely get offered some kind of credit facilities, probably from the bank you're with before others.

Elfminster

personally I wouldn't have hopped banks so soon

I still have the Permanent TSB bank account open, I haven't requested my wages to be paid into my new AIB account, yet.

Was a little upset with Permanent TSB because I asked them to upgrade my ATM cash card to a Laser, which would of been really handy, and they declined me! I got all this cash going in each and every month and they wouldn't even give me a debit card.

So I looked around and AIB gave me the Laser/Maestro/Link card straight away, no hassle. It made me realise that AIB would be a much more flexible bank to deal with in the future.

vector

AFAIR the IE electoral roll doesn't show lenght of time at address, however also AFAIR it doesn't show DOB is it possible I was looking at an abridged library version, surely it must record a DOB

pow wow

I had the same problem when I moved back from the UK in 2005. I have a PTSB current account too (I worked for them at the time!) and they wouldn't give me a debit card either because I had only been there 5 minutes. I plan to switch to AIB when I get back from America because their account automatically comes with the card as you've said.

I can't really comment on how long you have to be in Ireland as I don't know, I have a nationwide account back in the UK so just use my cards from them in Ireland as they don't charge foreign fees. I really don't think changing your passport over would make any difference - you could have been born in the UK and moved to Ireland when you were a kid, it's no more of a red flag than anything else.

If they use credit scoring searches they'll be able to see you haven't had any credit committments in Ireland so might put two and two together. I suspect it's that rather than your nationality that's the problem.

coachhanna

HI

Well I dont know what the complaints are all about, but I just moved to Ireland two weeks ago,and walked straight into EBS buidling society and opened a savings acct with no hassles and got a debit card. Then I went to Permanent TSB and opened a current account on the spot with no hassles. A week went by and I got my laser card in the mail.
I have never been here before and have no history. so how come it was so easy for me?
Also went to AIB before going to PTSB, and they gave me such a hassle for not having a utility bill or anything showing proper proof of address....they were rude and nasty and I will never bank there. PTSB was way friendlier.
anyway, my questions are....how can I get a credit card now? I dont have a history here, but I dont think its fair that I have to wait two years to build one. geez. I want to establish good credit somehow...any suggestions?
also, are there any store credit cards? what about buying a house is it tough here? So far, the laws are strict I find...it was much easier in Iceland where I lived previously....America was ok...but its tough too.

anyway, I would love to know more about life in Republic of Ireland also since Iam living in Dundalk now

thanks
Mrs B

ellscurr wrote:

I had the same problem when I moved back from the UK in 2005. I have a PTSB current account too (I worked for them at the time!) and they wouldn't give me a debit card either because I had only been there 5 minutes. I plan to switch to AIB when I get back from America because their account automatically comes with the card as you've said.

I can't really comment on how long you have to be in Ireland as I don't know, I have a nationwide account back in the UK so just use my cards from them in Ireland as they don't charge foreign fees. I really don't think changing your passport over would make any difference - you could have been born in the UK and moved to Ireland when you were a kid, it's no more of a red flag than anything else.

If they use credit scoring searches they'll be able to see you haven't had any credit committments in Ireland so might put two and two together. I suspect it's that rather than your nationality that's the problem.