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Can you get a credit card as a non-citizen in Australia ?

Can I get a credit card if I am a non-citizen living in Australia? Yes, there are credit cards for non-citizens. Life is so difficult in today’s world if you don’t have one. Living in Australia today without a credit card is not easy. Everyone needs the convenience that comes with having these cards.

Can you get a Credit Card as a non-citizen in Australia?

Banks are at a greater risk of making losses if they give credit cards to people who may not pay back. They fear that non-residents can flee at any time. They always therefore try to do everything to reduce these risks. That is why there are many conditions for a non-citizen living in Australia to get a credit card. This is not to mean you are not able to get it.

Those who reside in Australia but are not citizens may face difficulties when trying to get credit cards.  This  is to ensure that those issuing the card do not go at a loss. You can still get credit cards through various banks. All you need is to find a bank that offers what you want.

What then are the requirements?

There are a number of conditions that you need to meet before you get a credit card.

  • Basic Personal Information

The first requirement is your basic personal information.  You must provide your date of birth and your full name. This identification will help in tracing you.

  •  Residency Status

The second condition is your the status of your residency. This is usually divided into three categories. You can either be a citizen of Australia, a permanent resident, or a temporary resident. You also have to provide the details of your visa. This helps the bank to go through your application in detail.

  • Residential Address

The third requirement is your residential address. You must provide a well known residential address in Australia. You also need to give the details of your working email address and a phone number. Without these details, you may not get a credit card.

  • Income Verification

Those who are permanently employed have an advantage. It is important that you meet this requirement. You will also need to provide information about your employer. Those who are self-employed will need to provide information about their accounts and tax details.

  • Financial Standing

Closely related to this is your financial standing. Banks that give credit cards set different financial requirements for non-citizens in Australia to get credit cards. You will need to provide details about your assets, monthly expenses and other liabilities.  In Australia, banks set a minimum income at $ 15,000 annually for permanent residents. For a non-permanent resident you will need $ 50,000.

All these requirements help to determine whether you are approved or not. These factors help the bank to predict your credit score. Banks use different criteria to give credit cards. This applies to both non-permanent and permanent residents.

What do credit card issuers require from non-citizens in Australia?

  • The Commonwealth Bank

Students and those who hold working visas are free to make applications for credit cards at Commonwealth Bank. This means a student or employee in Australia who is a non-citizen can easily get a credit card. The standard application process allows other temporary residents to also apply. You’ll however need a visa that is valid for a period of more than six months. This is from the start of the date of application. It means you are automatically disqualified if you are a holder of 417 or 462 visas.

Some banks also give Non-citizen in possession of 457 visas a priority. This is because this visa is held longer term by non-residents.

  • HSBC Australian Bank

HSBC Australian Bank allows non-permanent residents to apply for credit cards. However, there are some conditions that they have to meet. The requirements for qualification include having a contract in Australia lasting for at least two years. You will also need to hold a 482 visa. Your total earnings should be over $ 50,000 p.a.

As a temporary resident, you can apply for NAB Bank credit card. To succeed, you will need a three months banking history with the bank and possession of 482 visa.

  • Westpac Bank

Temporary residents can get credit cards in many ways from Westpac Bank. These include low interest rates and low annual fee. You can also get credit cards in terms of rewards and platinum card. The applicant will need to have 482 visa with a minimum of two years on it. You must complete this application in-branch. Minimum requirement incomes are not pegged on this credit card, but your income becomes the predictor of your credit limit.

At Westpac Bank, students are able to apply for Student Visa Credit Card. Only non-citizens in Australia with student visas can obtain it. You must be a full-time student at a recognized tertiary institution for you to get the card. If you work part-time, the bank calculates your credit limit based on your income.

Possessors of 482 visas can also apply for American Express credit card.

Other factors for non-citizens in Australia to get a credit card

These banks have minimum income requirements. This is due to the risks involved when dealing with non-permanent residents.  Non-permanent residents are considered likely to exit the country without notice. This measure is taken so that they are not able to leave before paying up their debt to the credit card issuer.  This would mean losses to the issuing bank.

Outstanding credit history is an important factor when dealing with non-permanent residents. You will have to sort this out when making an application. Your application will not be considered if you fail to do this.  This becomes more difficult if you lack credit history.

Credit cards play a critical role in today’s economies. They make purchases seamless. You can get credit cards as a non-citizen in Australia based on set conditions. You are advantaged if you have the 482 visa. It means you can’t exit before paying up your debt. A Non-citizen in Australia can get approval for a credit card. You only need to meet the set conditions.