Korean Job Discussion Forums

Darkness · Joined: 12 Oct 2006

What is needed to get one? Back home you need a social security number,or social insurance number....do you need something like that here to get a credit card?

What if you dont pay the balance and go home, does it effect your credit back home?? I have seen a couple posts about this and was just curious about them, and how they work.

Thanks!

kiwicanadian · Joined: 27 Oct 2006 Location: Bundang

Why are you worrying about what happens if you leave the country without paying? Are you wanting to use the system?

I would also like to know how to get one. It would make buying online a whole lot easier.

braunshade · Joined: 19 Apr 2006 Location: Somewhere better!

Of course it does not affect your credit rating back home. Thats just paranoid!

Darkness · Joined: 12 Oct 2006

I was curious actually cause then I could buy stuff online, but I was wondering about the credit rating back home cause if missed a payment here or something cause I cant read Korean, I wouldnt want to mess up my credit back home...

lawyertood · Posted: Thu Nov 23, 2006 9:21 pm Post subject:

You can get one at the Korean Exchange Bank by making a 1,500,000 won deposit in a savings account. (At least at the Itaewon branch). You have to pay off your card each month and the credit limit is not that large. I believe the account guarantees that you will not leave the country without settling your credit card account.

If you work at a university it is not that hard to get a Samsung Card with a higher limit. It also has to be paid monthly but can be paid automatically out of your savings each month.

Darkness · Joined: 12 Oct 2006

Isnt it like credit cards back home, I can just pay whatever I want on it each month, as long as it's more then the minimum payment?

lawyertood · Posted: Thu Nov 23, 2006 9:33 pm Post subject:

There might be a way to stretch the payment out but you would have to ask a Korean friend to help you when you apply. The interest rate might be higher, too. I'm not really sure. I just opted for that payment plan.

However, with the credit problems many Koreans have got into with credit cards in the past, perhaps the banks have wisened up and made mandatory short payment periods to protect themselves.

As far as I know they do not operate like at home.

Darkness · Joined: 12 Oct 2006

oh ok, nevermind. Thanks

I'll just use my Canadian Credit cards here if I need to....

ttompatz · Joined: 05 Sep 2005 Location: Kwangju, South Korea