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canactuary
Joined: 09 Mar 2010
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 Posted: Sat Mar 27, 2010 4:22 am Post subject: Next up - Credit Cards |
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Hey everyone,
Heading to the bank on Monday to open a bank account and hopefully get a credit card as well. Finally I will be able to use the ATM versus using the barter technique. The barter technique is where I buy food and drinks for my friends on a Canadian credit card and then they pay me back in cash.
What are some credit cards that have great benefits? I rack up quite a bit on credit cards and I'm responsible in having a zero balance at the end of each month, so annual fees mean nothing, whereas benefits mean everything.
Thanks! |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sat Mar 27, 2010 5:31 am Post subject: Re: Next up - Credit Cards |
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| canactuary wrote: |
Hey everyone,
Heading to the bank on Monday to open a bank account and hopefully get a credit card as well. Finally I will be able to use the ATM versus using the barter technique. The barter technique is where I buy food and drinks for my friends on a Canadian credit card and then they pay me back in cash.
What are some credit cards that have great benefits? I rack up quite a bit on credit cards and I'm responsible in having a zero balance at the end of each month, so annual fees mean nothing, whereas benefits mean everything.
Thanks! |
Another comedian in the room.
Unless you are working for a large corporation or the government AND have been in Korea for MORE THAN 3 months you have NO chance of getting anything other than a SECURED credit card.
If you work at a PS (government job) you may be able to get a Samsung c/c card.
IF you work ANYWHERE ELSE.... put your money into a time deposit and you can get a card with a limit equal to about 90% of your deposit. Any bank will give you one of these.
Be aware that a credit card here is NOT THE SAME as a c/c back in your home country. HERE you are required to pay the balance in full every month.
It's all in the FAQs,. |
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Forever
Joined: 12 Nov 2009
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| Posted: Sat Mar 27, 2010 6:11 am Post subject: Re: Next up - Credit Cards |
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| ttompatz wrote: |
| canactuary wrote: |
Hey everyone,
Heading to the bank on Monday to open a bank account and hopefully get a credit card as well. Finally I will be able to use the ATM versus using the barter technique. The barter technique is where I buy food and drinks for my friends on a Canadian credit card and then they pay me back in cash.
What are some credit cards that have great benefits? I rack up quite a bit on credit cards and I'm responsible in having a zero balance at the end of each month, so annual fees mean nothing, whereas benefits mean everything.
Thanks! |
Another comedian in the room. |
hehehehe
Next up - this topic has been done a hundred times.
http://www.google.com/cse?cx=006359271486458796786:_ooozypbm6u&ie=UTF-8&q=credit+card&sa=Search&siteurl=www.google.com/cse/home%3Fcx%3D006359271486458796786%253A_ooozypbm6u
Why on Earth is the OP paying for his/her friends food and drinks with his/her credit card, and then having his/her friends pay him/her back with cash? Isn't that just silly? Does the OP's friends also pay his/her interest and bank fees for making international purchases?
I never knew the term "bartering" could be used in that way... |
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Ruthdes
Joined: 16 Oct 2008
Location: Seoul
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| Posted: Sat Mar 27, 2010 6:22 am Post subject: Re: Next up - Credit Cards |
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| Forever wrote: |
| I never knew the term "bartering" could be used in that way... |
Heh, "bartering" is one of the most misused money terms ever. Just talk to 90% of the English speakers who have been to SE Asia. They'll talk about all the bartering they did for their fake goods.
Umm...you exchanged a service, or some goods of your own for that product? I think you mean BARGAINED or HAGGLED! |
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Konglishman
Joined: 14 Sep 2007
Location: Nanjing
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| Posted: Sun Mar 28, 2010 12:56 am Post subject: Re: Next up - Credit Cards |
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| ttompatz wrote: |
| canactuary wrote: |
Hey everyone,
Heading to the bank on Monday to open a bank account and hopefully get a credit card as well. Finally I will be able to use the ATM versus using the barter technique. The barter technique is where I buy food and drinks for my friends on a Canadian credit card and then they pay me back in cash.
What are some credit cards that have great benefits? I rack up quite a bit on credit cards and I'm responsible in having a zero balance at the end of each month, so annual fees mean nothing, whereas benefits mean everything.
Thanks! |
Another comedian in the room.
Unless you are working for a large corporation or the government AND have been in Korea for MORE THAN 3 months you have NO chance of getting anything other than a SECURED credit card.
If you work at a PS (government job) you may be able to get a Samsung c/c card.
IF you work ANYWHERE ELSE.... put your money into a time deposit and you can get a card with a limit equal to about 90% of your deposit. Any bank will give you one of these.
Be aware that a credit card here is NOT THE SAME as a c/c back in your home country. HERE you are required to pay the balance in full every month.
It's all in the FAQs,. |
Regardless of the differences between Korean credit cards and credit cards back home, there are some real benefits to having a Korean credit card. First of all, you can get discounts at certain places. Second, it provides a more convenient record of your expenses which will make it easier when you are applying for tax refunds from the Korean Tax Office (at least, this is what I have been told). |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sun Mar 28, 2010 1:16 am Post subject: Re: Next up - Credit Cards |
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| Konglishman wrote: |
| ttompatz wrote: |
Another comedian in the room.
Unless you are working for a large corporation or the government AND have been in Korea for MORE THAN 3 months you have NO chance of getting anything other than a SECURED credit card.
If you work at a PS (government job) you may be able to get a Samsung c/c card.
IF you work ANYWHERE ELSE.... put your money into a time deposit and you can get a card with a limit equal to about 90% of your deposit. Any bank will give you one of these.
Be aware that a credit card here is NOT THE SAME as a c/c back in your home country. HERE you are required to pay the balance in full every month.
It's all in the FAQs,. |
Regardless of the differences between Korean credit cards and credit cards back home, there are some real benefits to having a Korean credit card. First of all, you can get discounts at certain places. Second, it provides a more convenient record of your expenses which will make it easier when you are applying for tax refunds from the Korean Tax Office (at least, this is what I have been told). |
And how does that pertain to anything I said? |
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Konglishman
Joined: 14 Sep 2007
Location: Nanjing
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| Posted: Sun Mar 28, 2010 1:28 am Post subject: Re: Next up - Credit Cards |
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| ttompatz wrote: |
| Konglishman wrote: |
| ttompatz wrote: |
Another comedian in the room.
Unless you are working for a large corporation or the government AND have been in Korea for MORE THAN 3 months you have NO chance of getting anything other than a SECURED credit card.
If you work at a PS (government job) you may be able to get a Samsung c/c card.
IF you work ANYWHERE ELSE.... put your money into a time deposit and you can get a card with a limit equal to about 90% of your deposit. Any bank will give you one of these.
Be aware that a credit card here is NOT THE SAME as a c/c back in your home country. HERE you are required to pay the balance in full every month.
It's all in the FAQs,. |
Regardless of the differences between Korean credit cards and credit cards back home, there are some real benefits to having a Korean credit card. First of all, you can get discounts at certain places. Second, it provides a more convenient record of your expenses which will make it easier when you are applying for tax refunds from the Korean Tax Office (at least, this is what I have been told). |
And how does that pertain to anything I said? |
Oh, I don't know. Maybe, I am misreading you, but it seemed to me that there was a bit of a negative tone to your post. So, I just thought that I would point out some of the good things about Korean credit cards. |
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sigmundsmith
Joined: 22 Nov 2007
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| Posted: Sun Mar 28, 2010 1:50 am Post subject: Re: Next up - Credit Cards |
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[quote="ttompatz"]
| canactuary wrote: |
Be aware that a credit card here is NOT THE SAME as a c/c back in your home country. HERE you are required to pay the balance in full every month.
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Don't think this is quite correct unless the rules have changed. When I applied for my samsung credit card they asked me how much a month I would like to pay back - percentage wise.
This may have changed (I dont know) as it was a couple of years when I applied. |
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samd
Joined: 03 Jan 2007
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| Posted: Sun Mar 28, 2010 7:02 am Post subject: Re: Next up - Credit Cards |
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| Forever wrote: |
| Why on Earth is the OP paying for his/her friends food and drinks with his/her credit card, and then having his/her friends pay him/her back with cash? Isn't that just silly? Does the OP's friends also pay his/her interest and bank fees for making international purchases? |
The OP doesn't have a bank account or access to money other than a CC so he pays for the group with his card and his friends give him their share in cash, leaving the OP with cash in his wallet.
We did this for a friend of ours who didn't have an ATM card that worked in Korea before he got a bank account. The fees are your punishment for not being prepared. |
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