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Korean Job Discussion Forums
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jvalmer
Joined: 06 Jun 2003
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 Posted: Thu Aug 22, 2013 6:25 pm Post subject: |
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| Weigookin74 wrote: |
| jvalmer wrote: |
| I doubt a Korean on a 1-year work visa would get a credit card in Canada. |
What about repeatedly renewing and being here for years and wanting to be approved for a low limit? I haven't asked for a CC here for years. So, I honestly don't know what the result would be. Guess if Canada cuts me off; then maybe I'll get off my duff and go see.... |
I doubt it. Would you if you were a bank?
Maybe a card that expires a couple of months before your visa does. And you'd have to reapply for new cc every time you get a new visa. |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Thu Aug 22, 2013 8:20 pm Post subject: |
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| jvalmer wrote: |
| Weigookin74 wrote: |
| jvalmer wrote: |
| I doubt a Korean on a 1-year work visa would get a credit card in Canada. |
What about repeatedly renewing and being here for years and wanting to be approved for a low limit? I haven't asked for a CC here for years. So, I honestly don't know what the result would be. Guess if Canada cuts me off; then maybe I'll get off my duff and go see.... |
I doubt it. Would you if you were a bank?
Maybe a card that expires a couple of months before your visa does. And you'd have to reapply for new cc every time you get a new visa. |
I've been with the same employer for years. I'd personally suggest denying credit to anyone who has been here less than 3 years. After this, they have to have been with the same employer for a couple of years. Keep the limits low and if a foriegner leaves with a debt, make sure he pays it or can never come back to Korea. Hire a Korean collection agency to call him in the middle of the night. (No legal obligation to repay, but just to bug the sh!t out of him.) It's not like a western government has any legal recourse against a Korean collection agency. Ha ha.
Now can we get some crdit here, please? |
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hogwonguy1979
Joined: 22 Dec 2003
Location: the racoon den
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| Posted: Thu Aug 22, 2013 10:53 pm Post subject: |
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| If you are a foreigner teaching at a univ they come by all the time asking if you want an unsecured CC. In the past year I've had several salespeople come to my office asking if I want one with all sorts of miles, bonuses etc. I always turn them down as I've had a Samsung card with a 6 mill limit for 10 years now (got it in the first month I was at a previous employer) thats all I want and will cancel that one when I move back to the states. What funny now is Samsung won't give a CC to foreigners now, but when I have problems or need to change something they have an English line etc. Great customer service. |
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PatrickGHBusan
Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -
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| Posted: Fri Aug 23, 2013 1:58 pm Post subject: |
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| Weigookin74 wrote: |
| jvalmer wrote: |
| I doubt a Korean on a 1-year work visa would get a credit card in Canada. |
What about repeatedly renewing and being here for years and wanting to be approved for a low limit? I haven't asked for a CC here for years. So, I honestly don't know what the result would be. Guess if Canada cuts me off; then maybe I'll get off my duff and go see.... |
Even if they renew their working visa many times they (Foreign workers) would only get a card with heavy restrictions to protect the bank or credit institution. they certainly would not get a CC with a decent (or less obscene) interest rate.
They would face similar restrictions on other banking services as well. |
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newb
Joined: 27 Aug 2012
Location: Korea
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| Posted: Fri Aug 23, 2013 3:14 pm Post subject: |
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| I want and will cancel that one when I move back to the states. What funny now is Samsung won't give a CC to foreigners now, but when I have problems or need to change something they have an English line etc. Great customer service. |
Yes, I cancelled all 3 Korean credit cards yesterday. But it was tempting... |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Sat Aug 24, 2013 6:44 am Post subject: |
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| PatrickGHBusan wrote: |
| Weigookin74 wrote: |
| jvalmer wrote: |
| I doubt a Korean on a 1-year work visa would get a credit card in Canada. |
What about repeatedly renewing and being here for years and wanting to be approved for a low limit? I haven't asked for a CC here for years. So, I honestly don't know what the result would be. Guess if Canada cuts me off; then maybe I'll get off my duff and go see.... |
Even if they renew their working visa many times they (Foreign workers) would only get a card with heavy restrictions to protect the bank or credit institution. they certainly would not get a CC with a decent (or less obscene) interest rate.
They would face similar restrictions on other banking services as well. |
Thankfully, my Canadian Visa cards give me the special honor of telling how to go eff off and laugh in their face. |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Sat Aug 24, 2013 6:45 am Post subject: |
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| hogwonguy1979 wrote: |
| If you are a foreigner teaching at a univ they come by all the time asking if you want an unsecured CC. In the past year I've had several salespeople come to my office asking if I want one with all sorts of miles, bonuses etc. I always turn them down as I've had a Samsung card with a 6 mill limit for 10 years now (got it in the first month I was at a previous employer) thats all I want and will cancel that one when I move back to the states. What funny now is Samsung won't give a CC to foreigners now, but when I have problems or need to change something they have an English line etc. Great customer service. |
Again, thanks Canadian Visas. Samsung can go suck a lemon.... |
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PatrickGHBusan
Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -
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| Posted: Sat Aug 24, 2013 5:42 pm Post subject: |
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| Weigookin74 wrote: |
| PatrickGHBusan wrote: |
| Weigookin74 wrote: |
| jvalmer wrote: |
| I doubt a Korean on a 1-year work visa would get a credit card in Canada. |
What about repeatedly renewing and being here for years and wanting to be approved for a low limit? I haven't asked for a CC here for years. So, I honestly don't know what the result would be. Guess if Canada cuts me off; then maybe I'll get off my duff and go see.... |
Even if they renew their working visa many times they (Foreign workers) would only get a card with heavy restrictions to protect the bank or credit institution. they certainly would not get a CC with a decent (or less obscene) interest rate.
They would face similar restrictions on other banking services as well. |
Thankfully, my Canadian Visa cards give me the special honor of telling how to go eff off and laugh in their face. |
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kimchipig
Joined: 07 Mar 2008
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| Posted: Tue Sep 24, 2013 10:30 am Post subject: |
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| Weigookin74 wrote: |
| Died By Bear wrote: |
| As long as you pay your bills, other people won't affect your credit in Korea. Maybe your rep, but not your credit rating. So what, his problem not mine. Let him deal with it. Why even bother to admonish someone for not having any common sense? This is Korea after all. Look at what comes and goes on this website over the years. It's entertaining. |
Fails to explain why foriegners are restricted when Koreans aren't. I haven't asked Nonghyup for a credit card in years, but they denied me because I was a foriegner. Foriegners defaulting does give al a bad rep. So, I gave them the finger and used my Canadian cards ever since. |
I severed all ties with Canada when I was in Korea. To obtain a credit card, KEB asked me to keep a W1,000,000 deposit on the card. I agreed and my limit was the same. After five years, I still had my W1,000,000 deposit but the limit was W10,000,000. I had built my credit rating.
It's the same way in Canada. If you are a foreigner, even if you have permanent residence, you will have to provide surety for any new credit card. |
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Ginormousaurus
Joined: 27 Jul 2006
Location: 700 Ft. Pulpit
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| Posted: Tue Sep 24, 2013 11:06 am Post subject: |
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| kimchipig wrote: |
| It's the same way in Canada. If you are a foreigner, even if you have permanent residence, you will have to provide surety for any new credit card. |
This is correct. My wife (Korean, with permanent residency pending and a 2-year work visa) just applied for a credit card in Canada. She was required to put a minimum $1000.00 down. She will get the deposit back after two years. |
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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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| Posted: Tue Sep 24, 2013 4:01 pm Post subject: |
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| Yup, seems fair. |
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Who's Your Daddy?
Joined: 30 May 2010
Location: Victoria, Canada.
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| Posted: Tue Sep 24, 2013 5:02 pm Post subject: |
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| Ginormousaurus wrote: |
| kimchipig wrote: |
| It's the same way in Canada. If you are a foreigner, even if you have permanent residence, you will have to provide surety for any new credit card. |
This is correct. My wife (Korean, with permanent residency pending and a 2-year work visa) just applied for a credit card in Canada. She was required to put a minimum $1000.00 down. She will get the deposit back after two years. |
You could co-sign her card probably so she doesn't need a deposit. |
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Who's Your Daddy?
Joined: 30 May 2010
Location: Victoria, Canada.
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| Posted: Tue Sep 24, 2013 5:47 pm Post subject: |
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| kimchipig wrote: |
| Weigookin74 wrote: |
| Died By Bear wrote: |
| As long as you pay your bills, other people won't affect your credit in Korea. Maybe your rep, but not your credit rating. So what, his problem not mine. Let him deal with it. Why even bother to admonish someone for not having any common sense? This is Korea after all. Look at what comes and goes on this website over the years. It's entertaining. |
Fails to explain why foriegners are restricted when Koreans aren't. I haven't asked Nonghyup for a credit card in years, but they denied me because I was a foriegner. Foriegners defaulting does give al a bad rep. So, I gave them the finger and used my Canadian cards ever since. |
I severed all ties with Canada when I was in Korea. To obtain a credit card, KEB asked me to keep a W1,000,000 deposit on the card. I agreed and my limit was the same. After five years, I still had my W1,000,000 deposit but the limit was W10,000,000. I had built my credit rating.
It's the same way in Canada. If you are a foreigner, even if you have permanent residence, you will have to provide surety for any new credit card. |
I haven't had that experience. I've had a credit deposit with KEB for 7 years. I had a mortgage with them too, and paid it off. Yet still my card limit is a ratio of my deposit (I think 80%), never raised, and never waived. Also I've had all the utilities, in my name for 5 or 6 years, and the same employer for 7 years. My credit rating might have changed, but my treatment from KEB hasn't changed.
After buying a house and paying off their mortgage, and being a "VIP Customer", I've still got a deposit like I just got off the boat. |
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EZE
Joined: 05 May 2012
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| Posted: Tue Sep 24, 2013 6:37 pm Post subject: |
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| CentralCali wrote: |
| Okay, so how many of you actually believe the OP? |
I do, because I get detained by Immigration at Incheon International Airport anytime I fly because Wonderland says I didn't pay into unemployment insurance. |
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12ax7
Joined: 07 Nov 2009
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| Posted: Tue Sep 24, 2013 9:27 pm Post subject: |
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| Who's Your Daddy? wrote: |
| kimchipig wrote: |
| Weigookin74 wrote: |
| Died By Bear wrote: |
| As long as you pay your bills, other people won't affect your credit in Korea. Maybe your rep, but not your credit rating. So what, his problem not mine. Let him deal with it. Why even bother to admonish someone for not having any common sense? This is Korea after all. Look at what comes and goes on this website over the years. It's entertaining. |
Fails to explain why foriegners are restricted when Koreans aren't. I haven't asked Nonghyup for a credit card in years, but they denied me because I was a foriegner. Foriegners defaulting does give al a bad rep. So, I gave them the finger and used my Canadian cards ever since. |
I severed all ties with Canada when I was in Korea. To obtain a credit card, KEB asked me to keep a W1,000,000 deposit on the card. I agreed and my limit was the same. After five years, I still had my W1,000,000 deposit but the limit was W10,000,000. I had built my credit rating.
It's the same way in Canada. If you are a foreigner, even if you have permanent residence, you will have to provide surety for any new credit card. |
I haven't had that experience. I've had a credit deposit with KEB for 7 years. I had a mortgage with them too, and paid it off. Yet still my card limit is a ratio of my deposit (I think 80%), never raised, and never waived. Also I've had all the utilities, in my name for 5 or 6 years, and the same employer for 7 years. My credit rating might have changed, but my treatment from KEB hasn't changed.
After buying a house and paying off their mortgage, and being a "VIP Customer", I've still got a deposit like I just got off the boat. |
Time to switch banks, I'd say. I never needed a deposit. Last time my credit limit was raised, it wasn't even at my request. The bank called me up and asked if I wanted to raise it. |
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