[b]Moderator’s note: This is a continuation of an older discussion which can be found [url=http://tw.forumosa.com/t/old-discussions-about-guarantors-wherefore-a-guarantor/1237/1
So I had the meeting and was turned down flat without a guarantor.
Fortunately my girlfriend has been insisting on helping attain a CC for months on end, against my will. She has a platinum card so the bank is giving me a platinum card without so much as looking at any of the documentation that I have, so cooperatively(and uselessly) provided them.
I’m going on vacation in January so it will come in handy not to have to carry that lump of cash in my bag/pocket or in my cleavage. :moo:
I will however be trying again at costco for a china trust/costco visa.
Though only to see if I can get one by merit alone.
This time I’m going to go as far as mailing other international braches of costco and asking them about what they think of their partner’s unfair business practices. And maybe dropping a line to a few differant media groups(one of them Must be looking for a lame story to follow up on). I’ll post from time to time, to update.
I have lived in Taiwan for over two years now and am as financially and geographically stable as any Taiwanese individual that would qualify(if not more so). And I’ve had the same address and phone number for two of those years going on three. Back home that and a stable income get you a gold card without even asking for it.(Yes, I know that we’re not “back home”).
Further more, I agree with what some of you wrote about the banks being rightfully worried of loss. Though I don’t see how that applies to a “secured lined of credit”. Which is all that I’m realy interested in anyway. As long as I have to leave a fair amount as investment and not just hand over my hard earned cash so that they could pilfer me from all directions at once.
BTW…I’m getting the platinum card from TaiHsin Bank in Nei-Hu, in case that’s of any help to anyone.
I have 2 Platinum cards
1 gold card
1 normal visa card
and… all but one of them are meaningless to me. The Platinum and the gold cards were secured with guarantors, my wife, a Taiwanese, and you know what… the risk is hers, I could split tomorrow and she’d be left with all the bills. That sucks.
[quote=“Nam”]So I had the meeting and was turned down flat without a guarantor.
BTW…I’m getting the platinum card from TaiHsin Bank in Nei-Hu, in case that’s of any help to anyone.[/quote]
Good luck! Please do keep us posted. If you read my story a few pages back, it was also Taishin Bank. Seems like you had it a lot easier than I did. They tried to put a bunch of unreasonable requirements on me, but I negotiated it all down to having a guarantor, which my co-worker graciously volunteered to act as.
At another bank, I tried to use my mother as the guarantor, and although she still holds her citizenship, she left Taiwan after graduating from university, so she has no work or credit history in Taiwan. So, I was denied the card.
In short, your guarantor cannot be just anyone with citizenship, they also have to qualify for the card you are applying for.
[quote=“Nam”]I will however be trying again at costco for a China trust/costco visa.
Though only to see if I can get one by merit alone.
This time I’m going to go as far as mailing other international braches of costco and asking them about what they think of their partner’s unfair business practices. And maybe dropping a line to a few differant media groups(one of them Must be looking for a lame story to follow up on). I’ll post from time to time, to update. [/quote]
Applied again (twice) at Chinatrust/Costco but they’ve conveniently lost my application (yes both times).
My girlfriend’s common sense thinking dictates that I should be content with the Tai Hsin Amex and Visa that I already have and fails to see the point of attaining another by any means or reason. Though I am going to send those letters that I spoke of, I think that my need for any future CCs will depend on whether or not I plan on buying a car or home over a home shopping network.
Beyond the initial card, my reasons for getting more cards are for the various benefits, most common of which is 2hrs free parking at various locations throughout the city. You’ll be surprised at the free parking network you can build up with several cards.
[quote=“Bu Lai En”]How’d you get a visa with Tai Xin? What did you have to provide. I might try.
Brian[/quote]
ARC
Passport
6 months worth of pay stubs
Guarantor who qualifies for the level of credit you are applying for
several phone calls back and forth with the credit dept
The nice thing is that TaiShin has various co-branded cards. Once you get the first card, getting the others is a breeze.
Though my info meant next to nothing, when put along side my girlfriend’s.
They gave me the Amex and Platinum Visa with a card that allows me to park for free at any airport in Taiwan. It also gives me other privileges at many international airports around the world. I believe that they offer card holders emergency auto services as well. Problem is that it’s kind of hard to activate said services without any local language skills. Mine barely did the trick for me. My girlfriend is a local and she got frustrated after talking to them in the first 5 minutes so she threw the phone to me(likely in direct result of living with me for nearly a year).
So at the end of the day only two or three people have managed to get a credit card unsecured by cash or guarantors. (If it’s secured by cash it’s not “credit”; if it’s “guaranteed” the credit is extended to your guarantor not you)
Feels good doesn’t it ? Having to get down on your knees to beg to be allowed to spend your own money… Or to have your wife “guarantee” you to the bank. I often wonder whether the Taiwanese banking system will catch up with the 20th century within my lifetime… doubt it.
[quote=“hexuan”]So at the end of the day only two or three people have managed to get a credit card unsecured by cash or guarantors. (If it’s secured by cash it’s not “credit”; if it’s “guaranteed” the credit is extended to your guarantor not you)
Feels good doesn’t it ? Having to get down on your knees to beg to be allowed to spend your own money… Or to have your wife “guarantee” you to the bank. I often wonder whether the Taiwanese banking system will catch up with the 20th century within my lifetime… doubt it.[/quote]
At one bank, even if I have an account there with 5x the $$ value of the credit I’m asking for, they still won’t waive the guarantor requirement.
Taiwan’s banking system has a long way to go before it gets out of the stone ages, and the credit card thing is but one reason for this. But I guess that’s a function of becoming a industrialized nation in more or less one generation. And, when Taiwan’s banking system finally catches up with the 20th century, banks in western countries will already be in the 21st century. :s I’ve noticed also that the insurance industry in Taiwan is in the stone age as well.
Anyway, back to the subject. I just signed up for a card with Chinatrust, and to my surprise, they told me a guarantor wasn’t necessary. I insisted that it was, and that I wanted to fill out the guarantor form along with the application, in order to save me the hassle of finding out why I was rejected, then making another trip to provide the guarantor information. They kept reassuring me that it wasn’t necessary, and after I filled out an application, sent me on my way.
We’ll see what happens. If I actually get the card, I’m moving all my accounts to Chinatrust, and they’ll get all my future business.
[quote=“Ben”][quote=“Bu Lai En”]How’d you get a visa with Tai Xin? What did you have to provide. I might try.
Brian[/quote]
ARC
Passport
6 months worth of pay stubs Guarantor who qualifies for the level of credit you are applying for
several phone calls back and forth with the credit dept
The nice thing is that TaiShin has various co-branded cards. Once you get the first card, getting the others is a breeze.[/quote]
So, you didn’t get the card then.
I am waiting to hear about China Trust and what happens when they get th e application to someone who “knows what the are doing (screwing)”.
[quote=“Bassman”][quote=“Ben”][quote=“Bu Lai En”]How’d you get a visa with Tai Xin? What did you have to provide. I might try.
Brian[/quote]
ARC
Passport
6 months worth of pay stubs Guarantor who qualifies for the level of credit you are applying for
several phone calls back and forth with the credit dept
The nice thing is that TaiShin has various co-branded cards. Once you get the first card, getting the others is a breeze.[/quote]
So, you didn’t get the card then.
I am waiting to hear about China Trust and what happens when they get the application to someone who “knows what the are doing (screwing)”.
Keep us up to date chap.[/quote]
Yeah, technically I didn’t get the other cards (TaiShin and Union Bank), but in the end, I got the cards, which I guess is more important.
I’ll keep the thread updated on ChinaTrust. I actually went to two different ChinaTrust branches asking for the guarantor form. One of them actually called the credit card dept. to confirm when I insisted that I would need a guarantor, and the answer was that I didn’t need one. The second branch said I didn’t need one, and asked me to fill out the application and “see what happens”. So I did. We’ll see.
Just got my COSTCO China Trust CC.(Sans guarantor)
Here’s what it took…
3 years worth of rent reciepts,Lease, phone bills(under my landlords name), ARC documentation(yes, three years worth), proof of income.
Passport, TaiHsin bank info,
Then, three phone calls to the “nice people” at China Trust and COSTCO Taiwan(respectively) explaining that I had a letter ready to send to COSTCO’s offices in Canada and America, as well as any other COSTCO that I could find complaining about being fully qualified for a card, but not being approved due to racism or even nationalism.
Also wrote up a similar letter for VISA and Master Card international(addressing both at the same time) about their business partners and their bad business practices here in Taiwan. (both letters were read to said, “nice peeople,” at both COSTCO and China Trust. The nice people at COSTCO were kind enough to call the “nice people” at China Trust and inquire about said application and things seemed hunky-dorry from there.
Lesson learned: Don’t always go the direct route as there is always another way through.
COSTCO, Visa and M.C. International stand to lose much more than ChinaTrust’s business if thiings were ever to get politicaly incorrect.
Does anyone remember when Disney had to sell one of it’s smaller companies because it was linked to porn?
Guilt by association
China Trust stands to lose co-operation with COSTCO for such ignorance.
Keep in mind that if you do have to have noted documentation, or all of the above is pretty well useless. Also, be polite but firm. Losing your temper GETS YOU NOWHERE.
AND YOU REALLY MUST REALLY QUALIFY!!!
AMEX Taiwan offers different products including charge cards, which cannot carry a balance, and credit cards. I have the AMEX gold card, which has an initial credit limit of 100k. Your credit limit is increased every year, if your income and spending/repayment patterns justify it. You do not need a guarantor. There is no annual fee.[/quote]
What I would like is simply a card which allows me to pay for stuff when I go abroad (hotels, restaurants) without having to carry around huge amounts of cash. A British card is too much of a hassle, have to send Sterling home every month, and likely to mess up the payment deadlines.
I’m happy to pay the bill in full every month. In fact if the credit limit is very low, I am willing to top it up before I go. The card is just a convenient mechanism for payment. So I have applied for a green AMEX charge card. I make more than twice what is required (I make enough for a gold card, actually, but I am too much of a coward to apply for one). AMEX were very friendly and didn’t require a guarantor. Doesn’t mean they aren’t going to reject me though.
I had to supply last year’s tax witholding statement, my contract (to prove my salary), my ARC, my bank book showing my salary going in for at least the past four months, and the name of a contact person (not a guarantor).
[quote=“Nam”]Just got my COSTCO China Trust CC.(Sans guarantor)
Here’s what it took…
3 years worth of rent reciepts,Lease, phone bills(under my landlords name), ARC documentation(yes, three years worth), proof of income.
Passport, TaiHsin bank info,
[/quote]
I just gave them my APRC copy, passport copy, a copy of my ICBC secured mastercard, and the application. Got it week a later.
I signed up for a card with Chinatrust about 2 months ago, and to my surprise, they told me a guarantor wasn’t necessary. I insisted that it was, and that I wanted to fill out the guarantor form along with the application, in order to save me the hassle of finding out why I was rejected, then making another trip. They kept reassuring me that it wasn’t necessary, and after I filled out an application, sent me on my way.
The Chinatrust card came in the mail a couple weeks later! No guarantor needed!! Hehehe, unbeknowst to Chinatrust, the floodgates are probably opened now.
By far the most pleasant credit card application experience in Taiwan to date. I encourage all of us to give Chinatrust more of our business!
The Chinatrust card came in the mail just now. So, for the record, you can get a Chinatrust credit card without a guarantor! 
