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| Author |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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 Posted: Wed Apr 24, 2013 11:29 pm Post subject: |
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| mandrews1985 wrote: |
Thanks for the helpful information guys.
@Ttompatz I am on a regular E2 visa.
1) So what you are saying is that I must deposit a set amount (say 1 million won) into an interest earning time deposit account. This would then enable me to get a Credit Card for about 90% of what I deposited into the new bank account. (say 0.9million won)
2) The 0.9million won credit limit is separate to the deposit account. So could I then withdraw that 1 million won in put it back into my other account, or is it stuck there like a safety deposit? Is it possible to dip into the 1million won or is it untouchable until I close the CC (when I leave the country)
3) And finally, if I use 300,000 won on the CC it would be expected to be paid in full at the end of the month (without previous arrangements being made)
@Wishfullthinking how would I go about getting a referral for a CC? Is that them being a guarantor? If I don't pay it back they would be liable?
Realisitcally I was only looking for a card that would cover me 1-2 million won, just as a back up. |
Numbers were mine for clarity.
1) Yes. deposit 1 million get a CC with a 900k limit. Deposit 2 million and get a card with 1.8.
2) No. The time deposit is locked for the time of the deposit (you can set an automatic roll-over if you wish). As collateral for your C/C you cannot touch those funds unless you cancel your card.
3) Yes.
4) Take a friend with you (translator) when you apply. They will tell you what they need from you. USUALLY they won't give a C/C to an E2 who works at a hagwon. Samsung used to be really generous for E2s at government jobs (including EPIK/GEPIK) with easy applications and limits of 2-5 million.
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