Korean Job Discussion Forums

[kimchi_pizza]

I've lived in korea for over 5 years and I've always been one to TRY
to pay my debts fully and on time. Yeah...occassionally...I've been
negligent like a week or two in pay'n debts. For example I went on vacation to
the U.S. for a month and couldn't pay my credit card debt and they sent me a
warning days AFTER I payed the bill.
But after reading this tread:
http://forums.eslcafe.com/korea/viewtopic.php?t=209939
It seems that credit ratings here in Korea are just as important as they are back
home. Where before...maybe I didn't take it as serious as I should have.
SO! Let's talk about Korean credit ratings! Woohoo! Those in the know please
educate me specially in the area of HOW to check one's credit ratings in Korea.
Just how important or a detriment can it be? Any difference or similarity to credit
ratings to a person's home country?

[kimchi_pizza]

I'll even post my "warning" letter for anyone to get a better understanding
of credit ratings and it's risks of late payments....

"Overdue Payment Reminder Letter

Thank you for using ***** card.
It is with regret that we have to inform you that you have paid high rate of
late fee due to your delinquency.
We think you forgot payment date. However, as your arrears could affect your
credit standing , we would like you to make payment upon
receiving this letter.
If you designated separate payment date by agreement with our staff, the
deadline must be strictly kept.
If you have already sent us your payment, kindly disregard this letter.

Your card is being suspended and may be suspended permanently.
This notice is given at the urging of the Fair Trade commission."

Please note that I'm posting this NOT to complain but to help get a better
understanding of the importantance of paying back my debts. And for that
of other foreign teachers as well.

[ttompatz]

Your credit rating outside Korea has no bearing your your credit inside Korea.

Your credit rating in Korea has no bearing on your credit abroad (in your home or a 3rd country).

One CAVEAT.

If you pee of a major credit card with a global bank they will leave you in THEIR system as a deadbeat (skip out on your samsung/tesco VISA credit card and you won't get one from tesco at home either - same is true of citi-bank VISA and HSBC VISA with their own branded cards.

It won't affect your application with another bank/brand of VISA C/C).

.

[Weigookin74]