Korean Job Discussion Forums

[lorenchristopher]

Still trying to get a credit card over here. An international one, with T-money chip in it and a some kind of points or mileage system.

I know this thread has been done before.....and I've done my searching, most people who've received them work for public schools or universities. I've found people who've said, "Oh yeah, my friend (or I myself) works at a hagwon and he/she got one!" or "I just walked in to my local branch and they handed one over....wow so simple!!" It hasn't been that easy for me.

(My info: this is my 4th year in Korea, I make 3 million +/month, been a Shinhan customer for over 3 years, have 3 accounts with them, work at a hagwon, on an E2 visa which has JUST been renewed.)

So let's make this thread more specific and simple.

If you received an international credit card in Korea, and are working on an E-2 visa at a hagwon, where did you get it (bank name and location)? Did you have to secure it with a deposit? How much? What kind of card is it?

Thank you so much! *does a full head-touching-the-floor bow*

[ttompatz]

I personally do NOT know of any hagwan teacher who is NOT married to a Korean (F2 or F5) who has obtained an unsecured credit card in Korea.

I currently hold 2 Korean C/Cs.

One is a Samsung VISA card and it was obtained AFTER I started working for a public school.

The other is a Woori bank VISA C/C. It was obtained while I was working at a hagwan. I did not need assistance from a k-friend to get it. You can get it from any branch of Woori bank. If you need help at the counter you can ask to call (or use your cell) the Woori bank customer service center and get a translator and assistance.

I have used it internationally and continue to do so for both purchases and cash advances. I cannot use it as an ATM card abroad. I do have an international ATM card that I can use and it does work abroad.

It does have the chip to use on the buses, etc.

I did use a time deposit to secure the card. 4.4 million in a time deposit earning just under 5% is used to secure a visa card with a limit of 4 million won.

It was approved on the spot and it took 1 week to physically get the card (delivered by courier).

.

[nick70100]

I'm not a hagwon teacher now, but I was able to get a credit card from Hana Bank when I was working in a hagwon in 2007.

It was a bit of a complicated process. I originally just wanted an international debit card ("check card" in Korea) to use for international internet purchases and occasional traveling. Here's how it went down...

I went to the first Hana Bank branch and asked for an international check card. I didn't think it would be too hard because one of my coworkers at the time had an international card from Hana Bank. They told me no, sorry, we can't give an international card to foreigners. I said my coworker has one. And they said that's impossible. I eventually just left.

I went to a second Hana Bank branch and asked again for an international check card. They said sure, no problem, I filled out a few forms and signed some things and I was on my way. About a week later the card was delivered and it was NOT an international card. It was exactly the same as the domestic check card that I already had! I went down to the bank to see what had happened. The lady at the desk didn't seem to know what had happened. She checked around on the computer a lot and talked to someone else working at the bank, before finally returning and saying sorry, foreigners can't get international cards.

I felt like being persistent and went to a third Hana Bank branch. I explained again the story about what happened and asked if there was anything they could do. The lady did basically the same checking on the computer and she couldn't figure out why it wouldn't work. An older manager type guy came over and she explained what was going on. He says, "Why don't you just get a credit card instead?" I thought to myself... really? You'll give my a credit card but not a check card? But I said OK... fully expecting it to fail like it had before. They had me fill out a form. They asked for my employer's address and phone number and also asked me how much money I earned in a year (I'm not sure if they ever verified this). They didn't ask me for any deposit or to secure the card or anything. A week later it showed up. It was an international visa card. I couldn't believe that it actually worked. Initially the credit limit was very low (500,000 won) but it went up after a year or so. I think it's at 2 million now. I also got a Samsung card as well after I started working in a public school. That, on the other hand, was a totally painless process.

I don't know if this will be useful to you for several reasons. My coworker got an international check card and I went to the same branch to apply for the same card a few months later and they denied me. Also I had to go to three different branches of the same bank to finally get what I needed. I think this just shows that the policies are constantly changing and the employees from branch to branch may not even know exactly what the rules are. On the plus side, if you keep going back again to different banks eventually something might work out. Also this was 4 years ago, so who knows how things have changed since then. But I did get an unsecured credit card as an E-2 visa holding hagwon teacher. If it matters, the branch that finally did give me the card was the Hana Bank in Apgujeong, Seoul across the street from the Galeria department store.

[Patong Dong]

To confirm what ttompatz has already said, I've twice received a secured credit card (bit of any oxymorn in my opinion) from KB bank. They offer you a choice of cards and they come with various benefits such as discounts at VIPS or CGV. I also had to deposit an extra 100K for each million I wanted to use. It makes sense if you are keeping your money in the country due to the higher rate of interest whether you need the card or not. Mine functioned as a T-Money card and on a date of your choosing each month, whatever you used was taken from your linked savings account to keep the deposited amount topped up. Both times I received a card in about 10 days that was valid for a few months, then after that received one that was good for a number of years.

[big_fella1]

I have a Samsung Credit card I received when I was an E2 visa holder in a hagwon, admittedly a company owned, large chain hagwon. I phoned 02-2000-8438. This card is unsecured and the initial limit was w2,000,000. Prior to this I has a KEB visa card but it was secured.

If you are with Shinhan and you legally earn over w3,000,000 per month you apparently qualify for a Shinhan Card according to their facebook.com page http://www.facebook.com/ShinhanBank

Finally I have a blog http://koreanbankingblog.blogspot.com/ but when it comes to credit cards, you need to be prepared to shop.

[alwaysbeclosing100]

I have a secured KBstar visa that has worked fine in about 15 different countries in asia. Your deposit is your limit. I dont recommend it though b/c the online banking for credit cards is not in english.

[ThingsComeAround]

Like nick, I applied for a check card at my local bank (KB)

My first year, I went to my local branch and asked for it, they denied me.
Fast forward fifteen months later when I return to Korea and live in a new area, they gave me BS "conditions"

Have you had this account for over one year?
YES

Do you make over two million in one month?
YES

I'm sorry, we can't give it to you because you are a foreigner


Later after regaining my composure, I applied for the KB (credit) card. They had me put down a deposit Then I picked it up at the bank after hours, but I only kept it for three months. This was because the deposit was one million- I couldn't put down too much as there wasn't enough cash. And the limit was my deposit. Upon gaining the Samsung card, I quickly dropped the KB card and I've been enjoying it ever since.

[rickshaw79]

KEB offer one on their expat banking account - very easy and straightforward though you have to make a deposit.

[lorenchristopher]

Thanks for the help guys. Very useful information here.

I'd like to stay with my bank (Shinhan) and just get a card from them. The idiots at my branch denied me for two reasons:

1) My ARC expired 3 years ago. Uhhhm, if they had looked on the back they would have seen the sojourn stamps, it's valid til Jauary 2012.

2) I make less than 3mil/month. This is the case AFTER taxes, health insurance and pension, etc is taken out. But my actual pay is over 3mil/month. Going to the bank to talk to them about this. Hopefully they can help. The people at the Shinhan global service call center are very helpful by the way.

[Xuanzang]

Samsung used to be quite foreign friendly. I know it's not Shinhan bank but you'll have more luck with the non-banking credit card companies than the banks.