ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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 Posted: Tue May 04, 2010 6:35 am Post subject: Re: Preloaded Credit Card |
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| GTG09 wrote: |
| I was wondering if there was a way to get a preloaded credit card while in korea to do stuff online with basically. Is there a place to get one of those Visa cards? Any help would be appreciated. |
WELL....
If you don't mind sticking a million won into an interest bearing time deposit you can get a regular credit card: Takes about a week to get your card. Doesn't matter where you work as long as you have your ARC.
The one thing to remember is that your balance must be paid in full every month. They take it out of your bank account as a direct payment.
I got this from Wooribank:
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Dear Mr. 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 w1,000,000.
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
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The way it works is your limit is ~95% of your deposit.
1.1 million won time deposit = 1 million won limit.
2.2 million won time deposit = 2 million won limit.
Your money is placed in a term deposit with an interest (as of Jan 2010) rate of about 4.5-5% and then you get a VISA card that can be used globally, can also be used for bus/subway domesticallyand gives discounts at various locations like Everland/LotteWorld (50%), theaters (2000won), various restaurants. etc.
If the clerk in the bank doesn't speak English, get them to phone the number listed above and the Customer service center will assist you with translation and take care of any problems. Takes about 30-35 minutes for the whole process. You get your card in the mail in about a week.
You can get your deposit back early simply by turning in your card and closing the account. Position and employer don't matter. |
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