Hi, i moved to Aus a few years back and wanted to get a credit card but had no luck. Had to wait for 3 months to get one due to being new. A buddy recently moved here and got like a 40k credit card from NAB approved with a salary of about 85k. This was without even starting to work, just his job offer. He ended up in a tight spot and trying to neg. With NAB on the repayments but asked me today if this wasn't reckless of them to start off with. Think he is just trying to get something to hit them back with in order to make payments.
According to my to knowledge once you sign the dotted line it doesn't matter if they gave him a 500k credit card. He is responsible correct?
Ok so after some comments and a bit of lack of information from my side I decided to add this edit here and at a post more down. Firstly, when I say recently, it has been around 2 years I think. He came over with a job offer but he didn't start to work. He manages to get a credit card from NAB WITHOUT telling some fake story about his income. He's married with a kid and as far as I know, Aus has something to determine a minimum required expense based on if you are married and have kids, etc. I can't remember what this is called. He provided accurate information with the offer of employment. Based on this he got a massive credit card. He didn't use ALL of it and he didn't spend it on luxury items. These were essential things to set up a basic house.
He since got into a bit of financial trouble thanks to Covid where he had to take less money home and he's just trying to get NAB to assist with a lower payment until he finds other employment. He doesn't want to take the rest of the money and pay the card with that and putting him in more debt. He understands that he used the money and is more than happy to pay back everything, he just wants a lower payment for a few months to hopefully get everything back to what it should be. I never stated he wants the amount written off. Some argued that he had to lie on the application to get that amount of money available on a credit card, this is the point. He didn't (yes he accepted it, why I don't know but he did) but why did they provide it in the first place on that salary? I earn a fair bit more and I highly doubt the bank will even provide me with a credit card of that amount lol.
To sum up the questions I would like to be able to provide him with some useful information (some have mentioned a few things and thanks for that) on what he can try and do. The other question was more for me as to why I had to work for 3 months and provide payslips where he manage to arrive in Aus and just provide an employment offer and got approved. There were no previous payslips he could have provided and even no current payslips. I struggled to buy a car in the first 2 months and had to take a bad interest rate just to get approved and he got a 40k credit card.. This just feels weird.
There are a few guys who mentioned some idiotic comments and statements like he's a moron etc. Some of you might have said something due to the lack of info from my side. Some might just be pure privileges [email protected] who would never understand anything more than having your parents as a backup. Many of "us" have to take the hard road. For me, my wife, and 2 kids this was the case. We used about all our life savings to get the visas sorted for PR, flights, rental deposits, moving half of our furniture over to Aus etc. This is a hard part but also the easier part. Imagine (if you even can) having to leave EVERYTHING you know behind, all your friends, your family coming to a country to try and give your children a better future. Just learning what you call certain things, the mental challenge is to remember to work in AUD and not just buy stuff because it might sound cheap. It is a big challenge
I hope I cleared up any confusion and I didn't want to start an argument or debate on anything or even have people give their opinion about shifting blame and he doesn't want to pay. I, still being new as well, just tried to find out what options the guy has and not advise him on something I know from my old country.