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tesseract
Joined: 26 May 2006
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 Posted: Sun Nov 12, 2006 1:56 pm Post subject: Does moving overseas cause problems with credit cards? |
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| Hopefully I will be moving to Korea in March. I plan to call my bank and credit card companies to let them know about the move so my accounts won't be flagged or frozen when I try to charge something. Did any of you have any problems with cc companies when they found out you were leaving the country? I will have some cash when I move but I will also depend on credit cards for at least the first month I am there, so having my accounts closed or frozen would be a disaster. |
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munji
Joined: 08 Sep 2006
Location: Daejeon
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| Posted: Sun Nov 12, 2006 2:45 pm Post subject: Re: Does moving overseas cause problems with credit cards? |
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| tesseract wrote: |
| ... Did any of you have any problems with cc companies when they found out you were leaving the country? ... |
No problems. Just call them and inform them of the new address. I have moved to various countries and even have had a new CC delivered to overseas address.
Usually, the CC companies dont block your card because you could travelling. However, its best to inform them of the address anyway. |
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regicide
Joined: 01 Sep 2006
Location: United States
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| Posted: Sun Nov 12, 2006 5:29 pm Post subject: Re: Does moving overseas cause problems with credit cards? |
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| tesseract wrote: |
| Hopefully I will be moving to Korea in March. I plan to call my bank and credit card companies to let them know about the move so my accounts won't be flagged or frozen when I try to charge something. Did any of you have any problems with cc companies when they found out you were leaving the country? I will have some cash when I move but I will also depend on credit cards for at least the first month I am there, so having my accounts closed or frozen would be a disaster. |
Several years ago I changed my bank account which now has a debit card to my Korea address with no problems. I am using my brothers address for my accounts now. Recently, I called to dispute a charge made here and they asked me when I was returning to the US and it seemed like a big deal to them that I was overseas; records showed that I was here about two months. So , it seems this bank's policy has changed ( it was bought out) and even after having this account for 14 years, they seemed worried that I was overseas. |
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two roads
Joined: 04 Jan 2006
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| Posted: Sun Nov 12, 2006 5:45 pm Post subject: |
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| My credit card company insists that I call them at least every 30 days to inform them that I'm overseas; otherwise they'll freeze my account if I use it here. It's annoying that I can't just tell them that I'll be gone for an entire year and have them make a note of that. |
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ilovebdt
Joined: 03 Jun 2005
Location: Nr Seoul
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| Posted: Sun Nov 12, 2006 6:52 pm Post subject: |
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From a UK point of view, all I had to do was tell them that I was going to be travelling abroad.
As long as they get their dough they don't care where you are 
ilovebdt |
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Woland
Joined: 10 May 2006
Location: Seoul
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| Posted: Sun Nov 12, 2006 7:30 pm Post subject: |
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The real problem will be getting bills on time so that you can pay them on time. When I came here the first time, I was always getting bills after the due date, and then would have to enclose a complaint with my payment to get the interest taken off the next bill.
I finally got a checking account at home with my sister's name on it as well and had the bills directed to her. She pays them on time and all is well.
You might also check with your bank and credit card company about on-line payment possibilities. |
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regicide
Joined: 01 Sep 2006
Location: United States
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| Posted: Fri Nov 24, 2006 2:37 am Post subject: Paytrust |
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| Woland wrote: |
The real problem will be getting bills on time so that you can pay them on time. When I came here the first time, I was always getting bills after the due date, and then would have to enclose a complaint with my payment to get the interest taken off the next bill.
I finally got a checking account at home with my sister's name on it as well and had the bills directed to her. She pays them on time and all is well.
You might also check with your bank and credit card company about on-line payment possibilities. |
You might want to check out Paytrust at www.paytrust.com
Your bills are sent directly to Paytrust, then scanned and downloaded into your account. You can view all your bills online and then send a check from paytrust payable by your checking account. It is about $15 a month for the service. Great if you dont have a family member who is willing to do this for you. |
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Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
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| Posted: Fri Nov 24, 2006 2:54 am Post subject: |
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| I've lived abroad for 12 years and didn't know people had this kind of problem. |
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re:cursive
Joined: 04 Jan 2006
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| Posted: Fri Nov 24, 2006 3:46 am Post subject: |
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I don't possess a credit card but I do have a VISA debit card.
Before I headed over here I went to the bank to increase my overdraft. When they asked my reason, I told them I was heading overseas and they suggested I should apply for more. They don't seem to have any problems with me being overseas....as long as I pay the bills. |
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i_teach_esl
Joined: 07 Sep 2006
Location: baebang, asan/cheonan
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| Posted: Fri Nov 24, 2006 6:42 am Post subject: |
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| i dont have any credit cards, nor will credit card companies give me any more... i think i'll go to korea and make some money to pay those debts off. |
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Atavistic
Joined: 22 May 2006
Location: How totally stupid that Korean doesn't show in this area.
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| Posted: Fri Nov 24, 2006 6:51 am Post subject: They couldn't spell... |
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I have a Visa Checkcard through Wachovia, a Mastercard through MBNA and an Amex card.
The only problem I've ever had with any of them is that they didn't know how to spell "Korea" when I called.
I use my US PO Box and online billing with them and haven't had any problems. Though, frankly, I rarely use them because I prefer to be debt-free. |
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fancypants
Joined: 22 May 2005
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| Posted: Fri Nov 24, 2006 7:01 am Post subject: |
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Why tell your bank at all? I don't really think they care as long as you pay your bills.
I have spent 6 out of the last 7 years away from my home country. Before I left, I did a change of address to my parent's house and then set up online banking on my account so that I could pay my bills from abroad, which I did. I never encountered any problems.
And anticipating any further questions from Canadians about "non-residency for tax purposes" and relinquishing finanancial ties, Revenue Canada considers existing credit cards rinky dink. They do care, however, about property and investments. |
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Qinella
Joined: 25 Feb 2005
Location: the crib
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| Posted: Fri Nov 24, 2006 7:38 am Post subject: Re: Does moving overseas cause problems with credit cards? |
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| tesseract wrote: |
| Hopefully I will be moving to Korea in March. I plan to call my bank and credit card companies to let them know about the move so my accounts won't be flagged or frozen when I try to charge something. Did any of you have any problems with cc companies when they found out you were leaving the country? I will have some cash when I move but I will also depend on credit cards for at least the first month I am there, so having my accounts closed or frozen would be a disaster. |
I am the credit card master. Unfortunately, but hey, 10 years of wanton spending will do it to you. Here's what you need to know.
1. You should change your mailing address to someone's house who doesn't mind getting crap junk mail, and who will throw away anything without opening it. Parents will snoop. Not a good option.
2. Call your cards, or use the Internet if possible, and try to cancel paper statements. Some dinosaurs still require paper statements to be sent, but most will discontinue that.
3. Do all your payments online. Of course, you should be doing this already, but some people still think paper is the safest way. It's not. Sign up for Internet payments, end of story.
4. When you get to Korea, find out what your payday will be. Then, call your credit card companies and arrange your due dates to be about 10 days after your payday. Explain the situation. They will accommodate you.
5. If you do end up botching something and being late on a payment, call them and give a sob story about how hard life is overseas. They'll hook up the refund on the late payment penalty.
6. This one is in read because it's most important. Do not expect that you'll be able to "live off credit cards" like you can at home. NOT POSSIBLE. I have found very few stores that take foreign credit cards. I'm talking even the biggest chains have turned me down. That's embarrassing as hell right there, doing all your shopping, waiting in line, ringing it all up, bagging it, then having your card rejected while everyone watches and waits. Really, you need to try to figure out a better plan. You have 6 months. You can't save up $1k? Find a way to do it. Especially if you're not going to be in Seoul, do not think you can depend on credit cards.
Just to give you some perspective, I went to literally 20 different ATMs in my area (Seoul) a few weeks back, trying to get some money. NONE of the machines would take my Visa debit card, or my Mastercard. Just a warning, so you don't end up with no food for 5 days in a row like I did once, when the exact thing happened before.. |
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Hyeon Een
Joined: 24 Jun 2005
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| Posted: Fri Nov 24, 2006 8:47 pm Post subject: Re: Does moving overseas cause problems with credit cards? |
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| Qinella wrote: |
[
Just to give you some perspective, I went to literally 20 different ATMs in my area (Seoul) a few weeks back, trying to get some money. NONE of the machines would take my Visa debit card, or my Mastercard. Just a warning, so you don't end up with no food for 5 days in a row like I did |
If anyone else is suffering this problem then you should use the ATM in your local Ministop. They almost always accept overseas cards. The ones in banks suck on average.. I have to go 10km to find a bank ATM that will take my overseas card, but I can pass 10+ ministops on the way which will all take it in their machines. |
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Qinella
Joined: 25 Feb 2005
Location: the crib
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| Posted: Fri Nov 24, 2006 8:58 pm Post subject: Re: Does moving overseas cause problems with credit cards? |
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| Hyeon Een wrote: |
| Qinella wrote: |
[
Just to give you some perspective, I went to literally 20 different ATMs in my area (Seoul) a few weeks back, trying to get some money. NONE of the machines would take my Visa debit card, or my Mastercard. Just a warning, so you don't end up with no food for 5 days in a row like I did |
If anyone else is suffering this problem then you should use the ATM in your local Ministop. They almost always accept overseas cards. The ones in banks suck on average.. I have to go 10km to find a bank ATM that will take my overseas card, but I can pass 10+ ministops on the way which will all take it in their machines. |
Is Ministop the name of a store? Or do you mean just random convenience stores?
I tried nearly every convenience store in my area, a total of about 15. None would take it.
To the OP: Of course there are always gonna be people who say they had no problems whatsoever, and everything is peachy keen. But you can't expect the same will happen for you. Best to be prepared. You're gonna be in a strange country, so finding an atm or store that will take your cc needs not be on your list of worries. |
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