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ed1980
Joined: 04 Feb 2003
Location: Goyang
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 Posted: Tue May 06, 2014 11:21 pm Post subject: Credit cards |
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My patience with KEB at their policy changes has finally run out. Can anyone recommend a good credit card? Not looking for too many perks like air miles and stuff but a reasonable yearly charge with a free priority pass would be good.
Thanks |
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FriendlyDaegu
Joined: 26 Aug 2012
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| Posted: Wed May 07, 2014 2:02 am Post subject: |
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What changed about the KEB card that made you decide to jump ship?
I've had KB and KEB cards. Cancelled the KB a while back because they treated me like a schmuck. KEB has always treated me like a VIP and I've never had an issue with the credit card.
Wondering if there's something new I should be aware of.. |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Wed May 07, 2014 3:42 am Post subject: |
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| Is there any Korean credit card without an annual fee? |
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tob55
Joined: 29 Apr 2007
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| Posted: Wed May 07, 2014 12:29 pm Post subject: |
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| jvalmer wrote: |
| Is there any Korean credit card without an annual fee? |
Of course I have had my card for awhile now, but my Samsung card has no annual fee attached to it. It never did, and I have never inquired about it, so if it is an oversight on their part, I am glad to be the beneficiary of their mistake. Actually, I have even updated to a newer, better card and there is no fee attached. |
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wishfullthinkng
Joined: 05 Mar 2010
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| Posted: Thu May 08, 2014 10:31 pm Post subject: |
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| there are a lot of cards without yearly fees here. ed, you could look into the T3 card from hyundai. even though i only use mine enough every month to keep the minimum for bonuses active (500k i believe), it's a decent card and comes with a low tier priority pass although i don't get it. |
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ed1980
Joined: 04 Feb 2003
Location: Goyang
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| Posted: Fri May 09, 2014 2:39 am Post subject: |
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cheers for the replies
I was fed up with constant policy changes
Recent one being a minimum spend a year to get the duty free voucher.
I will look into hyundai i think - or maybe shinhan |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Fri May 09, 2014 5:30 am Post subject: |
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I've been scoping them out, just so many card choices. I just want a simple card. I don't care about rewards, just no annual fee and they're hard to find. I just want to ensure that if I don't use the card that they won't ding me
2000-won for it....lol |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Mon May 12, 2014 4:07 pm Post subject: |
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| I know with Canadian cards if you're willing to pay an annula membership fee, you get a lower interest rate. Same here with Korean cards? |
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wishfullthinkng
Joined: 05 Mar 2010
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| Posted: Mon May 12, 2014 5:37 pm Post subject: |
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| Weigookin74 wrote: |
| I know with Canadian cards if you're willing to pay an annula membership fee, you get a lower interest rate. Same here with Korean cards? |
no, there is no interest rates on korean credit cards. they don't work like canadian/american cards. you have to pay your balance in full at the end of each month's billing cycle or it's no credit card for you. |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Mon May 12, 2014 8:07 pm Post subject: |
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| wishfullthinkng wrote: |
| Weigookin74 wrote: |
| I know with Canadian cards if you're willing to pay an annula membership fee, you get a lower interest rate. Same here with Korean cards? |
no, there is no interest rates on korean credit cards. they don't work like canadian/american cards. you have to pay your balance in full at the end of each month's billing cycle or it's no credit card for you. |
Not true, many Koreans have a revolving balance on their cards. Works just like the cards back home. But it's hard for foreigners to get one that allows you to carry a balance. |
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chrisinkorea2011
Joined: 16 Jan 2011
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| Posted: Mon May 12, 2014 9:02 pm Post subject: |
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I have a Hyundai M3 card and I love it. there is an annual fee of 70,000 but i mean thats pennies considering that it triples your point gaining rate. The points are for the online mall where you can buy certain things using your points in full or as partial payment.
Hyundai has quite a few cards to acquire that have no annual few.
Also you dont have to pay your balance off in full each month, you can set it up to take out like installment payments depending on where you shop at if its available. In korean its called 할부. Depending on the place you can also get interest free payments if allowed. Look for "무이자". |
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wishfullthinkng
Joined: 05 Mar 2010
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| Posted: Tue May 13, 2014 12:43 am Post subject: |
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| jvalmer wrote: |
| wishfullthinkng wrote: |
| Weigookin74 wrote: |
| I know with Canadian cards if you're willing to pay an annula membership fee, you get a lower interest rate. Same here with Korean cards? |
no, there is no interest rates on korean credit cards. they don't work like canadian/american cards. you have to pay your balance in full at the end of each month's billing cycle or it's no credit card for you. |
Not true, many Koreans have a revolving balance on their cards. Works just like the cards back home. But it's hard for foreigners to get one that allows you to carry a balance. |
it does NOT work like america/canada. it's a special installment plan setup that you do when you make a purchase and you pre-define the amount of months you want to split the purchase over. most of the time you can do interest-free installment plans, especially on sites like gmarket.
trust me, i have 3 credit cards here that all have this feature and when i make a big purchase sometimes i use installment payments.
korean cards are inherently designed to discourage abusing them. |
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wishfullthinkng
Joined: 05 Mar 2010
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| Posted: Tue May 13, 2014 12:56 am Post subject: |
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and ed, i know you are looking for a card with a low yearly fee but some of the cards that have high yearly fees are actually really worth it. it's my opinion that it's prudent to check out those cards as well.
my red card with hyundai costs me 200k a year in annual fees but for that i get 200k in gift certificates, a top-level priority pass (worth 399USD), a dedicated english-language calling hotline where you never have to wait past 3 rings (an INCREDIBLE perk) as well as other little things like access to the hyundai purple lounge in seoul, mpoints that can be used to buy anything from goods to airline mileage, some pretty significant discounts on movie/concert/event tickets, etc.
plus you can get your cards made out of liquid metal (not actually a metal but i won't even start to go into that) which if you're a nerd like me is really cool. |
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ed1980
Joined: 04 Feb 2003
Location: Goyang
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| Posted: Wed May 14, 2014 9:42 pm Post subject: |
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Just got turned away by shinhan because I earn less than 2.5 after tax. Is hyundai similar??
Cheers |
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wishfullthinkng
Joined: 05 Mar 2010
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| Posted: Thu May 15, 2014 12:26 am Post subject: |
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| i'm not sure to be honest with you, however i do know you can get a card if you make less than 2.5 by having someone from your company go with you when you get the card and vouch for you. i've had a few friends get their cards this way, even at shinhan. |
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