What is the best Taiwan credit card for international use? Is there any card that has no foreign transaction fees?
The best credit card is the one you are actually able to attain.
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Itās my wife who will be applying for the credit card. With properties in her name, and multiple credit cards already I donāt think getting one will be a problem.
The Yuanta card is good as it has a 2% foreign use cash back amount which negates a lot of the foreign transaction fee. You may want to ask them about it as this was a few years ago but I think the card is still available.
Edit: The Hello Kitty card is 2.2% foreign cash back. Youāll look really cool flashing that around
https://www.yuantabank.com.tw/bank/creditCard/creditCard/in.do?id=31c2b4611f000004dd12
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This is the best website to compare credit cards here in Taiwan:
https://www.money101.com.tw/äæ”ēØå”/ē²¾éøęØč¦
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Just adding more questions here: How about a debit visa card?
Is there any bank that offers debit visa card (USD)? Does that even exist in Taiwan?
Every bank offers a debit VISA card, even the post office. The currency depends on your accountās currency. Personally, I never use debit cards to buy anything, just to withdraw from the ATM.
Yeah i know they all offer visa card but only in TWD. I have asked a few banks they only offer a credit cards with USD. I want to purchase online and donāt wanna pay international transaction fee.
thank you. But it requires a minimum, monthly average balance of TWD 3 million haha.
No. The premier version does. The basic version does not. haha
Iām curious, what is the advantage of having a credit card from Taiwan vs one from back home? MegaBank tries to push theirs on me every time I go there, but I donāt see the point when I have their debit card and a credit card from the US with no international fees and a points/rewards program.
Iām using E Sun bank.
They have a reward program, even Chinatrust has it too for their visa debit card.
You get cash back for using it, used to be you could only exchange it for 7-11 gift certificates but now they just deposit the cash reward back into your account. Itās not much but itās something.
I heard a while back someone basically made money off of banks by buying airfare or some other items that retains its value when resold. Then the person would resell it at the price they paid for, and then basically makes money with the reward points. Iām told the person made a ton of money this way and Chinatrust basically shut off the account for doing that.
Itās difficult and unnecessarily costly to send funds home to repay my Canadian credit card.
Banks close at 3 here.
Western Union isnāt at every bank.
Paypal in particular continues to lock my ability to readd my bank. They have no support.
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Paypal also does not allow domestic payments. That means if I want to send money to you using paypal, and your paypal account is created in Taiwan, I canāt send you money through paypal at all, they do not allow 2 TWD account holders to transfer funds to each other. I donāt know if this is due to banking regulations.
Even though banks close at 3 if all you want to do is withdraw or deposit money, they have CDM/ATM at their location that will do that 24/7. But if you wanted to do stuff like transfer a really large sum (which ATM have a limit on) you have to show up at their regular business hour.
Not even close to what I was referring to.
How āsustainableā is your American credit card? Iāve still got a Canadian one, but that bank isnāt sure if I can keep the credit card if I change the address to my Taiwanese home, so I havenāt changed it. For now, Iām still using my parentsā address, but I wonāt be able to do that forever.
Interesting. I transfer most of my earnings (whatever I donāt need for expenses in Taiwan) to the US anyway, through MegaBankās website once every month or two for 300NT. Is it really that much harder through other banks and/or to Canada?
Well, not all banks here have good UIs. I use the one my business is on and I donāt have time in the day to go to banks to research their accounts.
Even so, $300 is $300. Thatās $300 every month to send money. I see it as a Poor tax. Fees and fees and fees. Then thereās also currency exchange fees.
US certainly gets a lot more access than Canada for sure.
Iāve never really wanted to try. I looked at it and decided it wasnāt worth my effort. Iād rather be able to be able to use a local CC for local purchases without dealing with fees.
Every purchase. Two fees, exchange and international transaction.
then sending money back. Two more fees.
Spending up to $1000 a month for literally nothing.
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Iāve never really thought about the āsustainabilityā of a credit card. As long as Iām using it and making my payments, I donāt know why theyād want to take it from me. I use a US address for it, but I have to do that for my brokerage accounts, taxes, and various other things, too. Every American expat I know has a US address they use for such things, whether it be that of a family member, friend, their own property, or obtained through a service.