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Atkinson
Joined: 15 Oct 2004
Location: Land of the Golden Twist-tie
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 Posted: Thu Nov 18, 2004 12:39 am Post subject: Foreigners getting credit cards |
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I'm moving to Seoul next week. Do I have any chance of getting a Korean credit card?
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kiwiboy_nz_99
Joined: 05 Jul 2003
Location: ...Enlightenment...
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| Posted: Thu Nov 18, 2004 1:38 am Post subject: |
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Not that I know of. Though this place seems to be run more on general principles as opposed to "rules of law" if you get my drift ... 
Better to get an international one, as they work at atms and shops here, but also everywhere else in the world. Much more useful ... |
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nev
Joined: 04 Jan 2004
Location: ch7t
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| Posted: Thu Nov 18, 2004 1:55 am Post subject: |
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| If you're just here on an E2 visa, I think it's unlikely a credit card company will take the risk on a foreigner whose stay in Korea is temporary. But I say that merely as an educated guess. |
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peppermint
Joined: 13 May 2003
Location: traversing the minefields of caddishness.
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| Posted: Thu Nov 18, 2004 2:06 am Post subject: |
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Check here first: http://www.eslcafe.com/forums/korea/viewtopic.php?t=21559&highlight=credit+cards
if you have more questions, try PMing Dogbert.
I know people with E-2s that have them, but they've been here a while, and have put down roots like a bank account thats been open for a while etc. so the answer is probably that you can get one, just not yet. |
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mishlert
Joined: 13 Mar 2003
Location: On the 3rd rock from the sun
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| Posted: Thu Nov 18, 2004 2:07 am Post subject: |
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| See my post on how you can get a Korean credit card |
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princess
Joined: 16 Jan 2003
Location: soul of Asia
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| Posted: Thu Nov 18, 2004 2:08 am Post subject: |
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| I find it quite amusing, am azing actually, that Koreans get the red carpet rolled out for them in the US or Canada, but here a foreigner can't get a credit card or use one on cyworld.com |
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the_beaver
Joined: 15 Jan 2003
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| Posted: Thu Nov 18, 2004 2:10 am Post subject: |
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| I have a Samsung Visa card with a 5,000,000 limit and the traffic pass thingy. If you work at the same university for more than a year they'll give you one with no hassle at all. |
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casey's moon
Joined: 14 Sep 2004
Location: Daejeon
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| Posted: Thu Nov 18, 2004 2:45 am Post subject: |
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| princess wrote: |
| I find it quite amusing, am azing actually, that Koreans get the red carpet rolled out for them in the US or Canada, but here a foreigner can't get a credit card or use one on cyworld.com |
I'm not saying you're wrong because I have no real idea, but I dont know what you mean by red carpet? Where -- at the bank?
Anyway, with the number of people who are delinquent on their student loans in Korea, I don't blame the banks for having standards and needing proof that a foreigner won't leave with a hefty unpaid credit card bill. Some people should be able to get one, but not every person who lands here and has a one-year contract! |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Thu Nov 18, 2004 3:31 am Post subject: |
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| princess wrote: |
| I find it quite amusing, am azing actually, that Koreans get the red carpet rolled out for them in the US or Canada, but here a foreigner can't get a credit card or use one on cyworld.com |
Actually, it's pretty difficult for an immigrant to get an unsponsered credit card in Canada. They usually get a family member who has been there for years to sponser them getting a credit card. Which means the sponser is on the hook if the card holder doesn't pay up. Also, buying a car and getting insurance for that car is pretty difficult too. |
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lawyertood
Joined: 17 Jan 2003
Location: Seoul, Incheon and the World--working undercover for the MOJ
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| Posted: Thu Nov 18, 2004 4:23 am Post subject: |
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| Korea Exchange bank (Itaewon branch) will give you a visa card if you deposit 1,500,000 won in a savings account at their bank. |
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Thu Nov 18, 2004 4:52 am Post subject: |
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| princess wrote: |
| I find it quite amusing, am azing actually, that Koreans get the red carpet rolled out for them in the US or Canada, but here a foreigner can't get a credit card or use one on cyworld.com |
Hmmm when my company in Toronto transferred the batch of us to America, where none of us had credit ratings, you'd be surprised how hard it was to get a credit card in America. One of my coworker sold off a lot of options before he came and opened his American Wells Fargo account with $500,000. And he was turned down for a credit card by his own bank! He got on the blower and pointed out his fat wad in his account. To make a long story short, they sent out a car for him, brought him to the bank to sign the paper work for his card...
My experience with applying for cards in Canada and America is it's a black art. Your bank who has seen regular deposits for years, holds your RRSPs, and can see you have $10,000 cash in your checking account, will turn you down but some no-name company will give you a Visa with a $5,000 limit. A year later your bank is sending you pre-approved applications for a platinum card...
So, I dunno, can a Korean studying for a couple years in North America get a credit card? Maybe. Maybe the parents pad the kid's bank account out with $50,000. I'd much rather take a risk on some kid whose family has the means to send him abroad than some 22 year old ESL student who is only going to be here for a year. I'm sure banks, given the sudden draining of ESL teacher held bank accounts, understand the "profession' is known for midnight runs and that makes anyone claiming to be a hagwon teacher a very, very bad risk.
On the flip side, my friend who is an instructor a blue-blood Korean university was given a credit card no probs. That he worked for one of Korea's top universities made it alright.
Would a North American developer working for HP in Seoul have a problem getting a credit card? I bet you he wouldn't. |
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Pyongshin Sangja
Joined: 20 Apr 2003
Location: I love baby!
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| Posted: Thu Nov 18, 2004 8:02 pm Post subject: |
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I have a Samsung Visa card with a 5,000,000 limit and the traffic pass thingy. If you work at the same university for more than a year they'll give you one with no hassle at all. |
Not true. I got one after 4 months at my first uni gig. Samsung also signed up a whole bunch of teachers at my new uni in their first year. |
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Koreabound2004
Joined: 19 Nov 2003
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| Posted: Thu Nov 18, 2004 8:14 pm Post subject: |
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I asked my coteacher if I could get an international debit card...so I can take money out of my account if I travel abroad.
He told me I would have to APPLY.. 
Then he told me I couldn't get one because my "Korean is too low."
WTF?
Then, I say I don't want a Visa/MC, just an int'l debit card.
Anyways, in the process I found out that I can't get a Visa, don't want it ANYWAY.....
The movie "Lost in Translation" makes much more sense these days.  |
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kylehawkins2000
Joined: 08 Apr 2003
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| Posted: Fri Nov 19, 2004 12:16 am Post subject: |
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| Yeah, it's weird that it's hard to get an ATM Card that will work overseas. It seems like back home it's just standard. I ran into the same problem when I opened an account in the UK then tried to use my card in France. |
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Wangja
Joined: 17 May 2004
Location: Seoul, Yongsan
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| Posted: Fri Nov 19, 2004 12:26 am Post subject: |
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ahha, France, what can I say?
An international ATM card I thought was pretty much standard issue on KRW accounts. I am suprised that it seems to be a problem. I had one (from Shinhan) within 4 days of arrival back in 1999 - and a charge card too. |
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