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Korean Job Discussion Forums
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BritishinSuwon
Joined: 17 May 2008
Location: No longer in Suwon! Now kicking it in Shanghai
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 Posted: Fri May 23, 2008 1:29 am Post subject: Does anyone know |
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Or have the link to the news story about foriegners finally being allowed to get a credit card in Korea?
I've tried using the search engine, but no such luck there.
Also, would anyone know if this is an official thing, or is this something that is just being discussed and will probably change in the near future?
Thanks all |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Fri May 23, 2008 2:28 am Post subject: Re: Does anyone know |
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| BritishinSuwon wrote: |
Or have the link to the news story about foriegners finally being allowed to get a credit card in Korea?
I've tried using the search engine, but no such luck there.
Also, would anyone know if this is an official thing, or is this something that is just being discussed and will probably change in the near future?
Thanks all |
The problem was with the international ATM cards and overseas withdrawls.
We have been able to get C/Cs for a long time.
IF you work at a corporation, university (not a unigwan) or PS you can get one of several (like samsung) without much difficulty.
IF you have the misfortune of working at a hakwon the ONLY option for a Korean credit card is one that is secured by a term deposit at a bank. This is because your EMPLOYER is not considered by the banks to be trustworthy enough to expect YOU to be able to cover your debt.
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BritishinSuwon
Joined: 17 May 2008
Location: No longer in Suwon! Now kicking it in Shanghai
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| Posted: Fri May 23, 2008 2:38 am Post subject: Re: Does anyone know |
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Just a quick question then. I do work for a hakwan (a stable and surprisingly honest one actually. I know it's rare, but they do exist here), but at the same time I also work for an elementary school. My main employer is the hakwan and I work about 20 hours a week (legally) at the elementary school.
In that case, how hard would it be for me to get a CC here? Would the bank just see my employment as the hakwan and dimiss it out of hand, or would the elementary school employment help there?
Either way, thanks for the info ttompatz. You've answered quite a few of my questions beside this one, so thanks are overdue.
| ttompatz wrote: |
| BritishinSuwon wrote: |
Or have the link to the news story about foriegners finally being allowed to get a credit card in Korea?
I've tried using the search engine, but no such luck there.
Also, would anyone know if this is an official thing, or is this something that is just being discussed and will probably change in the near future?
Thanks all |
The problem was with the international ATM cards and overseas withdrawls.
We have been able to get C/Cs for a long time.
IF you work at a corporation, university (not a unigwan) or PS you can get one of several (like samsung) without much difficulty.
IF you have the misfortune of working at a hakwon the ONLY option for a Korean credit card is one that is secured by a term deposit at a bank. This is because your EMPLOYER is not considered by the banks to be trustworthy enough to expect YOU to be able to cover your debt.
. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Fri May 23, 2008 2:57 am Post subject: Re: Does anyone know |
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| BritishinSuwon wrote: |
Just a quick question then. I do work for a hakwan (a stable and surprisingly honest one actually. I know it's rare, but they do exist here), but at the same time I also work for an elementary school. My main employer is the hakwan and I work about 20 hours a week (legally) at the elementary school.
In that case, how hard would it be for me to get a CC here? Would the bank just see my employment as the hakwan and dimiss it out of hand, or would the elementary school employment help there?
Either way, thanks for the info ttompatz. You've answered quite a few of my questions beside this one, so thanks are overdue. |
It depends on who your visa sponsor is and whether or not you actually have your "NHIC" medical booklet.
My advice is to apply for a samsung card at your nearest home-plus or samsung department store. (You will need your medical booket and ARC if you do this).
If you get refused, then pop into your favorite bank and put a million won or so into a term deposit (they are paying close to 6% at the moment).
Use that as collateral for your credit card. You will get it in about a week with no hassle. The credit limit will be about 90-95% of the value of the term deposit. You can use it in Korea or abroad or for internet purchases. You can also use it for the buses and subways.
The thing to remember is that credit balances are (with a few exceptions) cleared IN FULL every month (like an AMEX card).
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BritishinSuwon
Joined: 17 May 2008
Location: No longer in Suwon! Now kicking it in Shanghai
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| Posted: Fri May 23, 2008 2:59 am Post subject: Re: Does anyone know |
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Great. Thanks again for the advice! Much appreciated!
| ttompatz wrote: |
| BritishinSuwon wrote: |
Just a quick question then. I do work for a hakwan (a stable and surprisingly honest one actually. I know it's rare, but they do exist here), but at the same time I also work for an elementary school. My main employer is the hakwan and I work about 20 hours a week (legally) at the elementary school.
In that case, how hard would it be for me to get a CC here? Would the bank just see my employment as the hakwan and dimiss it out of hand, or would the elementary school employment help there?
Either way, thanks for the info ttompatz. You've answered quite a few of my questions beside this one, so thanks are overdue. |
It depends on who your visa sponsor is and whether or not you actually have your "NHIC" medical booklet.
My advice is to apply for a samsung card at your nearest home-plus or samsung department store. (You will need your medical booket and ARC if you do this).
If you get refused, then pop into your favorite bank and put a million won or so into a term deposit (they are paying close to 6% at the moment).
Use that as collateral for your credit card. You will get it in about a week with no hassle. The credit limit will be about 90-95% of the value of the term deposit. You can use it in Korea or abroad or for internet purchases. You can also use it for the buses and subways.
The thing to remember is that credit balances are (with a few exceptions) cleared IN FULL every month (like an AMEX card).
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