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Boffo97
Joined: 08 Dec 2010
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 Posted: Thu Dec 15, 2011 11:17 pm Post subject: Prepaid Credit Cards in Korea |
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Prepaid credit cards are quite ubiquitous in the States, but has anyone ever found them here in Korea? Especially ones that can be used online for purchases from the States? Not everyone accepts Paypal.
(And please no posts about how I should use a regular credit card. Those aren't helpful to the question.) |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Fri Dec 16, 2011 12:03 am Post subject: Re: Prepaid Credit Cards in Korea |
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| Boffo97 wrote: |
Prepaid credit cards are quite ubiquitous in the States, but has anyone ever found them here in Korea? Especially ones that can be used online for purchases from the States? Not everyone accepts Paypal.
(And please no posts about how I should use a regular credit card. Those aren't helpful to the question.) |
Actually, here there is a hybrid.
It is a credit card that is secured with a time deposit.
Put 1.1 million in a time deposit (earning about 4%) and get a credit card with a 1 million won limit.
The process takes about a week and is offered by several of the larger banks including KEB and Woori. It doesn't matter who your employer is, what your credit score at home is, whether or not you owe money elsewhere (like a defaulted card at home) or how much you earn. You do however need an ARC.
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koreatimes
Joined: 07 Jun 2011
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| Posted: Fri Dec 16, 2011 12:27 am Post subject: |
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You can also get a KEB global card. These don't work as a credit card, but you can use them in ATM machines. I was offered online service, but I declined with a regular card in Korea.
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| (And please no posts about how I should use a regular credit card. Those aren't helpful to the question.) |
That's actually how I prefer to do it, you can pay off the credit card easier than trying to find a store that will take a debit. |
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Boffo97
Joined: 08 Dec 2010
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| Posted: Fri Dec 16, 2011 1:03 am Post subject: |
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Neither of those are what I mean.
In grocery stores or Walmart back home, you can buy a prepaid card for its face value and a small service fee, and use it online like a credit card after a quick validation. Then in most cases, you toss the card out.
Can those be bought here? Haven't found them so far. |
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koreatimes
Joined: 07 Jun 2011
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| Posted: Fri Dec 16, 2011 1:54 am Post subject: |
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| You can probably get ones that are specific to a store, like as a gift. However, I doubt there is a universal one. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Fri Dec 16, 2011 2:11 am Post subject: |
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| Boffo97 wrote: |
Neither of those are what I mean.
In grocery stores or Walmart back home, you can buy a prepaid card for its face value and a small service fee, and use it online like a credit card after a quick validation. Then in most cases, you toss the card out.
Can those be bought here? Haven't found them so far. |
Tourism Korea (KNTO) offers one but you can't use it on-line or outside of Korea.
I was aware of what you were asking for and, other than the one offered by the KNTO, they don't exist in Korea.
You only other real option is a secured card for most on-line (out of Korea) purchases.
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