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Korean Job Discussion Forums
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alinkorea
Joined: 02 May 2005
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 Posted: Tue Aug 15, 2006 11:39 pm Post subject: Items needed for secured credt card |
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I've read a few posts on here recently about getting secured visa cards from KB and Woori bank. I'm going into Itaewon tomorrow. Im not a member of either bank. So, if I turn up with my passport, ARC, bundle of money, should I be good to go?
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Wed Aug 16, 2006 1:19 am Post subject: Re: Items needed for secured credt card |
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| alinkorea wrote: |
I've read a few posts on here recently about getting secured visa cards from KB and Woori bank. I'm going into Itaewon tomorrow. Im not a member of either bank. So, if I turn up with my passport, ARC, bundle of money, should I be good to go?
Thanks |
This is a direct quote from Woori Bank when I made an inquiry about it:
Dear Ttompatz,
Thank you for using Woori bank service.
As for your inquiry, we have a credit card available to foreign residents.
However, there is a requirement you should meet, a time deposit, which Woori bank is going to take it as a security, and the minimum amount for that should be no less than \1,000,000.
When you are ready for this, please visit your local branch office with your ID card used for your account establishment (it could be either your alien card or passport) and the bankbook. We will be glad to help you.
If you have further questions, please send a message or call Woori Bank Customer Service at 02-2008-5000,#7. Our collect number is 080-365-5000,#7. Representatives are available to assist you from 9:30 AM Monday through to 5:30 PM Friday.
Thank you for using Woori Bank. We appreciate the opportunity to serve you.
Best regards,
Tina
So to answer your question in a nutshell;
You will need your ARC / Passport and a fist full of money.
You will need to open 2 accounts.
- 1 is the term deposit for your security. It is an interest bearing account.
- 2 is the account they will use to settle your monthly billing.
If you get a NON English speaking teller, simply call / have the teller call the customer service number and they will translate your request and assist the teller with the paperwork. |
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SeniorEnglish
Joined: 18 Jun 2006
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| Posted: Wed Aug 16, 2006 3:47 am Post subject: |
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| It took me over a year to be able to secure a credit card from KB Star. You have to build points. Each deposit is worth X amount of points. You get points for setting up automatic bill paying and such. It expires a month before your visa and you have to renew it every time you renew your visa. |
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I'm Seoul Lost
Joined: 19 Jun 2006
Location: In the mountains of Gyeonggi
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| Posted: Wed Aug 16, 2006 5:35 am Post subject: |
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No way! I got a secured Visa from KB three weeks ago, which was one month after I opened an account there. No automatic bill pay, no points, no nothing. They just take money and put it in a CD to secure the card. My card expires in 2009, so it is not tied to the time period of your E-2. If you don't have an account there, my guess is to just show up with a big pile of cash (or checks) to put in the CD, ARC, passport, etc. You also might want to think of opening a KB checking account while you're at it, so that they'll automatically pay your credit card bill from that.
P.S. The card also works on both T-Money and EB transportation payment systems. |
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