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Old 05.11.2006, 19:32
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Credit [how does credit history work in Switzerland]

How does one establish credit in Switzerland? Do they use credit reports from your 'home" country like the US for us?

Is it difficult to get a visa card?

Can you get a car financed easily?

thanks
clint
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Old 05.11.2006, 20:17
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Re: Credit

I don't know who you work for but when I came here with a company relocation I had no problem getting a credit card (for which I do pay an annual fee). I had no problem financing a car either - it was all properly worked out with affordability etc.
I'm European on a B permit though - don't know if that affects the situation.
HTH
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Old 05.11.2006, 21:13
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Re: Credit [how does credit history work in Switzerland]

You might find some background info on this thread. Generally you'll start your life in Switzerland with a clean slate. Your job and your type of permit will influence what you'll be able to do.

You should also bear in mind that debt is viewed differently in this society. It's not regarded in the same way as in the US. Credit cards generally get paid off in full at the end of the month, but people do get finance for their cars. Debt isn't usually something the Swiss go running into eagerly.

If you give a bit of information about what your job will be, which permit you have, and what exactly you want to do people can probably help you a little more. If you don't have enough cash to buy things like a car you'll find that public transport can also be an option - if you've come from the US you probably aren't used to something like that
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Old 17.11.2006, 17:36
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Re: Credit [how does credit history work in Switzerland]

Hi Clint. Switzerland has since the last 2 or 3 years (I guess) been using something similar to the US credit reports. However, unlike the US credit reports, they are used here more to see that you do not have any negative credit information, as opposed to looking for a long credit history in order to trust you. Not having a job here is not a detriment but you do need to show you have some source of income. When I moved here five years ago from the States I applied for a gold credit card for which you are required to have a minimum income of 100,000 francs a year. Although I supplied my 1040 in which it showed my net income surpassed that amount, I was still asked to put a 15,000 to 20,000 deposit guarantee. But, if you do not feel like locking in that amount of money in a savings account, you can always get a Visa or Mastercard with a 5,000 CHF limit pretty easily from Cornčr Banc (www.cornercard.ch). Unfortunately, their site is only in German or French.

As far as buying a card, you are normally asked about your employment in order to be extended some sort of financing. So, as long as you have a job here, you will be fine.
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Old 09.10.2013, 20:02
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Re: Credit [how does credit history work in Switzerland]

Does anyone know how you can obtain a copy of your Swiss credit report?
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Old 09.10.2013, 21:32
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Re: Credit [how does credit history work in Switzerland]

To my knowledge there are no credit reports here. There are only debt collection agencies with blacklists, and debtor courts with default records.

If you haven't defaulted you will get credit, provided the lender believes you can repay it. If you are here on a short visa you won't get any credit either.
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Old 19.03.2014, 12:36
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Re: Credit [how does credit history work in Switzerland]

If you have a good credit history in the UK can you "carry it over" in CH? I mean show them records of it to help your case for a mortgage/car etc
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Old 19.03.2014, 12:40
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Re: Credit [how does credit history work in Switzerland]

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If you have a good credit history in the UK can you "carry it over" in CH? I mean show them records of it to help your case for a mortgage/car etc
No
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Old 19.03.2014, 12:58
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Re: Credit [how does credit history work in Switzerland]

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To my knowledge there are no credit reports here. There are only debt collection agencies with blacklists, and debtor courts with default records.

If you haven't defaulted you will get credit, provided the lender believes you can repay it. If you are here on a short visa you won't get any credit either.
There is Creditreform.

You can enquiry what they know about you: https://secure.creditreform.ch/index.php?id=688&L=1
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