Does anyone know how to obtain a credit card here in Taiwan? I always get rejected because I am a foreigner.
I been living here for 9 years and my ARC is based on my marriage and I am working
[quote=“Kaalund”]Does anyone know how to obtain a credit card here in Taiwan? I always get rejected because I am a foreigner.
I been living here for 9 years and my ARC is based on my marriage and I am working[/quote]
Enjoy reading: forumosa.com/taiwan/viewtop … foreigners
forumosa.com/taiwan/viewtop … s#p1480941
And: forumosa.com/taiwan/viewtop … foreigners
forumosa.com/taiwan/viewtop … foreigners
I’d recommend to start with Mega bank, get a secured card, and build your own credit history. But then I would also advise you to have your own APRC ASAP instead of just JFVC/ARC based on marriage. Safety and all that jazz.
Just get your wife to vouch for you and you’ll have your card in no time. Maybe the credit will be limited, mine is 30k, but its ok for some internet purchases.
Getting the card with your wife as guarantor or cosigner will not help you build any credit history in Taiwan. All the credit reporting and risk goes directly to your guarantor. If you really don’t care about this, then getting her to cosign for you will work, or you can just ask your wife to add you as secondary to her card (fu ka)
I absolutely refuse to get anyone to cosign for me as it is very discriminating policy and I will not support banks taking risk free loans but charging me outrageous interest rates. If this is not a concern for you, you can try FarEastern bank as I know for a fact they issue cards to foreigners. They require your financial bank info and your cosigners eg bank deposit book copies, and then they issue the card if you qualify. Taixin will as well.
If you want a card in your own name with no guarantor, it takes a bit of work. If you tell me what bank your salary goes into , I can likely tell you if the bank will issue foreigners a credit card or will make exception to do so. PM me the info if you don`t want to share it here or you can just post here.
That brings me to the Yahoo questions “Why do most Americans live off credit cards?”. I need a credit card to purchase something that I can’t pay in cash for some reason, I don’t need to built up a bloody credit history. If my 30k aren’t enough, I transfer some money on that account and can use that with my credit card. Maybe that’s why they don’t like to give CC to Foreigners because most of them are Americans who just use that to spend more than they can actually afford?
Its a pretty big generalization that most Americans live on credit. I am not american but pay off my balances in full every month. If you pay 20% interest and carry a balance, you likely have more serious financial problems.
I use mine for points and discounts only.
Since you dont care about credit history, I assume you will never be buying a car or a house on financing? If you intend to, unless you are paying cash it will be tricky to get a loan with no credit history.
I know what you mean about “living off credit cards”, or as the great singer said “they have it all but owe it all” (todo lo tienen pero todo lo deben). It is not only a malaise of the citizens of the USA. However, that is more an anomaly rather than the norm, and the consequences are swift and easy to see. Even here in Taiwan we had the “credit card slaves”, but mostly because they were overwhelmed by novelty mixed with high interest rates. Nevertheless, the question is not that relevant to the current discussion, as Taiwan also has a credit history rating system and if you want loans of any kind further down the line you need to build a solid reputation, even in this cash oriented society. If you want to live here independently, if you want to be ready for anything life may throw your way and changes in your job/marital status, etc. it is important to have an independent credit line/assets/visa condition, etc., IMHO, me thinks.
You are probably too young to remember the Taiwan credit card crisis of 2005-6.
http://taiwantoday.tw/ct.asp?xItem=23219&CtNode=103
And I doubt banks don’t give CCs to foreigners 'because most of them are american who just use that to spend more than they can actually afford". They just don’t issue CCs to foreigners because foreigners are not of the Han race descended from the Emporers Huang and Yan.
I just got issued a credit card with the Visa wave features.
I can use it on the MRT, trains, taxis, movies, restaurants, HSR, parking, Gas station.
After using it 3 times, the bank even gives me 300 NT$!
For my first CC, i’m so darn excited.
*swiping furiously
wife or company vouch for you.
put up the limit yourself for the bank to hold onto.
Good deal. The banks I am with never offered me any special deals like that. I always get offers texted to my cell phone but I usually don’t pay much attention to it.
Got my credit card from Chinatrust recently. Just filled out the application form, with all the necessary docs, and got it within a week. Although all the forms are in Chinese, they do state in the procedures what a foreigner must do to apply, so they kind of are open to foreigners to apply, if they can read Chinese…
Got the business travel card, all I needed to show was at least 400k a year income. I do have an APRC.
I also got mine from China Trust. I had no problems. I went prepared with 10 years of “blue form” tax reciepts, submitted them, Ariel at Tuchen C.T. helped me fill them out and the manager took 1 minute to approve. I got my card in less than a week. Not a high limit (100k) but enough to travel and book online. I dont often use it but it’s nice to have in your back pocket. BTW, First Bank now has an ATM card that works for online booking and purchases.
Recently I applied for a credit card from Taichung Bank. I don’t really need one as I have UK HSBC Cards and I just use the Cash card to withdraw what I need. I pay rent etc. by direct debit or whatever it is called here. Just thought I would apply as people say it is hard.
Got my card within a week, although limit only 150,000NT. I just applied for a normal card but got a shiny Platinum MasterCard. One thing that intrigues me is that it is a “business” card…but I applied in my name. Not sure what that is about? Nobody had to guarantee the card. I have had an account with this Bank for around a year.
It is worth noting that the card expiry date is 08/18,whilst my ARC expires in December…so no issue there… Strange that in Taiwan it is still the old signature method, when paying.