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bigfourie
Joined: 05 Nov 2010
Location: Incheon
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 Posted: Fri Nov 12, 2010 8:12 pm Post subject: Credit Cards: Samsung says NO, who says yes? |
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i have seen previous forums about this topic but their replies have been very old so i was wondering if anyone has new info about this.
The teacher from our school phoned samsung 'as their website is in korean'
and their reply to a foreigner getting a credit card was.
'we stopped giving credit cards to foreign workers 3 months ago'
iam in need of a credit card as i need to buy certain things online and buy one or two big appliances.
Does anybody know of any other banks that are foreigner friendly with 3 month payments and online purchasing.
(sorry about new thread but the old one i saw and used didnt help me  )
Thank in advance. |
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Slowmotion
Joined: 15 Aug 2009
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| Posted: Fri Nov 12, 2010 8:40 pm Post subject: |
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| Why not use a visa from back home? Visa cards work online |
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redaxe
Joined: 01 Dec 2008
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| Posted: Fri Nov 12, 2010 8:47 pm Post subject: |
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| Slowmotion wrote: |
| Why not use a visa from back home? Visa cards work online |
So you don't get dinged with foreign currency exchange fees every time you make a transaction?
But I lived in for Korea for two years and never had any need for a Korean credit card. I just used a Korean debit card and an American Visa card when necessary. |
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Draz
Joined: 27 Jun 2007
Location: Land of Morning Clam
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| Posted: Sat Nov 13, 2010 12:39 am Post subject: Re: Credit Cards: Samsung says NO, who says yes? |
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| bigfourie wrote: |
'we stopped giving credit cards to foreign workers 3 months ago' |
Seriously? Anyone else heard anything about this? |
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jinks
Joined: 27 Oct 2004
Location: Formerly: Lower North Island
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| Posted: Sat Nov 13, 2010 1:04 am Post subject: |
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| Try KEB |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sat Nov 13, 2010 4:09 am Post subject: |
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If you really want a card and don't want to waste a lot of time then provide some collateral and any bank in the country will give you one.
Foreign teachers have been and continue to be a bad credit risk for the card companies so most if not all of them no longer offer unsecured credit to E2 holders.
The solution is really simple. Stick one (or two) million won in a time deposit at your favorite bank. Use that as security for your card (in case you disappear over the horizon and don't look back) and your new card will be in your pocket in about a week.
Visa class doesn't matter (as long as you have an ARC).
Age doesn't matter.
Income doesn't matter
Employer or length of employment doesn't matter.
They are good locally as well as internationally.
You can use them on-line.
You can make purchases or take a cash advance at the same rates as a Korean would pay for the same service.
AND
Your security deposit will EARN interest at about 3.5 - 5% (better than you will get at home or in a regular savings account).
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Stan Rogers
Joined: 20 Aug 2010
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| Posted: Sat Nov 13, 2010 4:55 am Post subject: |
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| ttompatz wrote: |
If you really want a card and don't want to waste a lot of time then provide some collateral and any bank in the country will give you one.
Foreign teachers have been and continue to be a bad credit risk for the card companies so most if not all of them no longer offer unsecured credit to E2 holders.
The solution is really simple. Stick one (or two) million won in a time deposit at your favorite bank. Use that as security for your card (in case you disappear over the horizon and don't look back) and your new card will be in your pocket in about a week.
Visa class doesn't matter (as long as you have an ARC).
Age doesn't matter.
Income doesn't matter
Employer or length of employment doesn't matter.
They are good locally as well as internationally.
You can use them on-line.
You can make purchases or take a cash advance at the same rates as a Korean would pay for the same service.
AND
Your security deposit will EARN interest at about 3.5 - 5% (better than you will get at home or in a regular savings account).
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ttompatz I agree with almost everything you wrote.
Korean banks don't want to give fly by night foreigners credit cards. Foreigners are simply not worth the BS.
One caviat I would like to add is about a foreigner using a Korean credit card online. I have a Korean credit card but I have trouble using it online sometimes because many Korean websites will not accept a foreigner's ID number. It can be a real pain in the butt.
Otherwise your post is spot on. |
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toonchoon
Joined: 06 Feb 2009
Location: Gangnam
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| Posted: Sat Nov 13, 2010 7:38 am Post subject: |
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I got a Hyundai "M" credit card with a 10 Million credit limit, on a E-2 visa. I had my gf call them (Finance Shop) ahead of time and I brought everything they asked me to bring. Initially, I thought it was a 1 Million credit limit, which was more than enough, but when I realized it was 10 mil, I was shocked. This was about 6 months ago.
I put down NO security deposit or collateral. Who knows why some peeps get a card and some don't. I wore a suit and a tie when I applied, acted professionally and maybe that helped a bit. Maybe it was cos my gf was super polite to them.
About a year ago, the Samsung card lady at one of the bigger Samsung Card offices got pissed off when I turned down a credit card and opted for a check card to use at Costco (Costco accepts ONLY Samsung cards - check or credit).
On the other hand, KEB didn't want to give me an unsecured card, which I can understand.
I haven't tried getting any new cards, and don't plan to. I do, however, enjoy getting discounts that Koreans can get by using my credit card. 20% discount here, 50% discount there... it's nice. |
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sammyjojo
Joined: 27 Feb 2010
Location: Hapcheon, South Korea
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| Posted: Sun Nov 14, 2010 5:49 pm Post subject: |
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| When I got my check card from my bank, they also offered to give me a credit card so you might want to check with your bank. |
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Kaypea
Joined: 09 Oct 2008
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| Posted: Sun Nov 14, 2010 7:42 pm Post subject: |
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| I have a HanaSK card. Someone put me in touch with this guy who set me up. I just had to bring some info type stuff. |
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jzrossef
Joined: 05 Nov 2010
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| Posted: Sun Nov 14, 2010 9:22 pm Post subject: |
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| toonchoon wrote: |
I got a Hyundai "M" credit card with a 10 Million credit limit, on a E-2 visa. I had my gf call them (Finance Shop) ahead of time and I brought everything they asked me to bring. Initially, I thought it was a 1 Million credit limit, which was more than enough, but when I realized it was 10 mil, I was shocked. This was about 6 months ago.
I put down NO security deposit or collateral. Who knows why some peeps get a card and some don't. I wore a suit and a tie when I applied, acted professionally and maybe that helped a bit. Maybe it was cos my gf was super polite to them.
About a year ago, the Samsung card lady at one of the bigger Samsung Card offices got pissed off when I turned down a credit card and opted for a check card to use at Costco (Costco accepts ONLY Samsung cards - check or credit).
On the other hand, KEB didn't want to give me an unsecured card, which I can understand.
I haven't tried getting any new cards, and don't plan to. I do, however, enjoy getting discounts that Koreans can get by using my credit card. 20% discount here, 50% discount there... it's nice. |
Nicely done. I'm not terribly knowledgeable when it comes to Korean credit card, but yours sound pretty good. Was it easy to get it?
Wonder if it's a little easier for F4 visa holders, but I can see that banks would be cautious about giving credit card to foreign workers who would leave anytime... even if they have Korean background. |
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redaxe
Joined: 01 Dec 2008
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| Posted: Sun Nov 14, 2010 9:38 pm Post subject: Re: Credit Cards: Samsung says NO, who says yes? |
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| Draz wrote: |
| bigfourie wrote: |
'we stopped giving credit cards to foreign workers 3 months ago' |
Seriously? Anyone else heard anything about this? |
From all the conflicting stories I've heard, I don't think they have a policy. I think it's really just up to the discretion of that individual customer service rep you talk to. |
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crossmr
Joined: 22 Nov 2008
Location: Hwayangdong, Seoul
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| Posted: Sun Nov 14, 2010 11:01 pm Post subject: |
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| Quote: |
| One caviat I would like to add is about a foreigner using a Korean credit card online. I have a Korean credit card but I have trouble using it online sometimes because many Korean websites will not accept a foreigner's ID number. It can be a real pain in the butt. |
This. A credit card likely won't help you shop online unless it's gmarket. While the amount of websites that foreigners can sign-up for is increasing, shopping sites still usually don't allow foreign sign-up outside of gmarket.
If you need appliances, don't by them new. Go look around your local area. There is undoubtedly several second hand shops near you where you can get a much better deal. Other stuff, get on Gmarket and you can pay from your bank account. |
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winterfall
Joined: 21 May 2009
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| Posted: Sun Nov 14, 2010 11:15 pm Post subject: |
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| KEB offers unsecured credit cards. You've got a few options. I got the one with skypass miles. Fill out the paper work and you can get it in a couple days. There's a few threads about this, pops up every few months. Just search for it. |
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GoldMember
Joined: 24 Oct 2006
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| Posted: Sun Nov 14, 2010 11:54 pm Post subject: |
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| Got knocked back for a Samsung card! Guess you couldn't fog a mirror. |
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