Korean Job Discussion Forums

[giraffe]

...you have "prime" status at KEB.

I never really needed a korean Credit card. I have a samsung one through my wife ( under her name) and I have my KEB check card which I use for everything including online purchases. I've also never tried or looked into getting my own credit card either... Only thing I knew was that other expats have issues getting one or just get turned away or they need to put somekind of downpayment as guarantee....

Soooooooooooooo today, I was at KEB to update my bankbook and out of curiosity decided to randomly apply for a credit card . surprisingly there was no fuss , no questions, no checking my passport , they dont even know i'm married to a korean etc... I just asked about applying for a credit card. She asked for my bankbook and typed at the computer for a few seconds. Then she went on to explain how I'm a "prime" customer and that it qualifies me for getting a credit card. If I wasn't "prime" I wouldn't have been able to get one, apparently.

Now I have a Homeplus Keb credit card under my name that gives me 5% off Homeplus purchases, credit card that works abroad, also gives me all the typical benefits korean credit cards have like discounts are outback / VIPS , discount at movie theaters and amusement parks ...

Overall it took about 10 minutes to setup. I doubt being "prime" at KEB is anything special and everyone should be able to be a prime customer. Not exactly sure how they decide if you're prime or not. I don't spend or use my account much at all.... However I do receive large(ish) international wire transfers every month....

[giraffe]

i should also add that they didnt even check if i work anywhere or If i was under any company. Both of which is NO. I don't work for anyone in korea... I'm self employed...

[detonate]

spend that paper playboy

anyone know how to get primed?

[K1020]

I'm not sure about the prime thing but I was speaking with a banking rep at the Seoul global center who reps KEB I believe. At KEB, she said if I had been in Korea for over a year I would qualify for a card without a deposit. Woori, on the other hand said there was no way they would ever give me credit of any kind -ever.
-also interested about being "prime"

[liveinkorea316]

You didn't mention how much money you had in or going through your KEB accounts. Of course you don't need to here but that is the basis for how credit cards are issued in the West. Your prime status may have had something to do with your bank balance??????

[No_hite_pls]

Can you book hotels on expedia, priceline, etc. or would I still need to use my home country's Credit Card to do that?

[giraffe]

If you want to know how prime works just read it from KEB bank's website.
Althought kinda vague. They dont mention specific numbers. Just that they calculate your performance score every month and if it adds up to a prime customer score they switch you over to prime status. This prime status goes away if you dont keep the score up. I'm currently a P1 prime custumer.. apparently my score is kinda high...

http://www.keb.co.kr/IBS/nebanking/en/pb/pri/af_300.jsp?vcode=07000000000000&scode=07070300000000

I think as long as you have alot of activity or money going in and out you should be able to reach prime status. I wont get into specifics of my account but i do receive a good amount of international wire transfers every month for my work....

I haven't tested the card yet but yes, I'm sure it will work on expedia and priceline. Its an international credit card. I dont see why not. Just like my n Mastercard from Canada does.

[giraffe]

also this if you need 400 points and higher to be prime you can count your points as below...

The selection criteria for prime customers is as follows:
선정기준 Category Evaluation standard Score
Deposit
(Average balances in the recent 3 months) Demand (Note 3*) Every 300,000 won +5
Savings Every 1 million won +5
FC deposit
(Average balances in the recent 3 months) Demand Every 200 dollars +5
Savings Every 500 dollars +5
Loan
(Average balances in the recent 3 months) (Note 4*) Every 500,000 won for up to 20 million won in balances +5
Every 1 million won for balances accrued over 20 million won +5
F/X
(In the recent 6 months) Excl. transactions involving a single currency Currency exchange transaction Every 500 dollars for up to 20,000 dollars of a transaction amount +5
Every 1,000 dollars for a transaction amount accured over 20,000 dollars +5
Remittance and receipt transaction Every 1,000 dollars for up to 20,000 dollars of a transaction amount +5
Every 2,000 dollars for a transaction amount accrued over 20,000 dollars +5
KEB Credit Card
(Spending in the recent 3 months) (Note 6*) 100,000 won or higher but less than 1 million won 10
1 million won or higher but less than 3 million won 20
3 million won or higher 30
Other transactions Payroll (pension) transfer 20 points per transfer in the recent 5 months Max. 100
Withdrawal (trasnfer) with a cash card 1 point per transaction in the recent 3 months Max. 20
Merchants of KEB credit card 1 point per 100,000 won in a sales slip purchase Max. 10
Additional 10 points if having a settlement account with KEB +10
KEB credit card Credit card membership (incl. Yes Money card) 10
Automatic transfer to account (Note 6*) 2 points per transfer in the recent 3 months Max. 10
Automatci transfer for bill payment (Note 7*) 5 points per a monthly number of transfer averaged in the recent 3 months Max. 30
Additional 5 points for transferring an APT maintenance fee +5
Telebanking, PC banking, Internet banking 3 points per transfer in the recent 3 months Max. 30
Transaction period Less than 2 years 5
Additional 5 points for every 1 year after the 2-year period Max 50

[atwood]

I've had a Samsung card for years and years that I got from a woman going office to office selling them. Then one day at Hana Bank they asked me out of the blue if I wanted a Hana Bank credit card and so I got one after being shown a myriad of different cards. I don't think it's as big a deal as some people make it out to be to get a credit card here.

BTW, does anyone have a credit card with no yearly fee?

[nick70100]

[giraffe]

[motiontodismiss]

Shinhan gave me two credit cards because I had 3 million won in my bank account apparently....

Which I then proceeded to withdraw and transfer to Citi for a higher interest rate.