Credit in Taiwan

Business Money
21
  1. I did it at the ChungLun branch on BaDe Road, Section 4.

中崙分行
台北市105八德路四段85號1樓
1F., No.85, Sec. 4, Bade Rd., Songshan District, Taipei City 105, Taiwan

I don’t know the person who I dealt with offhand, but I do have her business card somewhere if you want me to look for it.

I actually wasn’t planning on signing up for a credit card that day. I was on my way to the DMV to get my International Drivers License stamped. Since you need your passport for that, I had it on me that day, and there just happened to be a ChinaTrust a block away from the DMV with one of those tables set up outside where they stop people and ask them to sign up for credit cards. When they stopped me, I told them just to give me all the forms, including the guarantor form, and I’d fill it out on my own time. They insisted I didn’t need a guarantor, so I humored them and filled out the form. I expected to receive the usual “You were denied” letter, then have to call the credit card group to find out why, then to get the guarantor form, etc., etc., etc.

  1. Reasonable is relative when talking about credit limits, and I imagine that the limit will depend on your income, but my limit was as good as any other credit card of the same level, so it’s not some reduced limit NT$20K card.

  2. Documentation, it was actually quite surprising how little they required.

Passport
ARC
Proof of Employment (they accepted my business card for this)
Proof of holding another Taiwan credit card (I showed them my TaiShin card)
Names and phones numbers of 2 friends

Filled out the application, and I was on my way. The whole thing took less than 10 minutes. 2 weeks later, the card came, no phone calls to customer service or the credit card division, no jumping through hoops, etc. :astonished:

22

“proof of having another Taiwan credit card”

For the Taishin card, did you need a guarantor? Or was that one of those cash-secured cards?

I suppose, if you had the motivation, it would be easy enough to apply for a cash-secured card, use that to get another card and then cancel the secured card eventually, though, yes?

23

[quote=“rooftop”]“proof of having another Taiwan credit card”

For the Taishin card, did you need a guarantor? Or was that one of those cash-secured cards?

I suppose, if you had the motivation, it would be easy enough to apply for a cash-secured card, use that to get another card and then cancel the secured card eventually, though, yes?[/quote]

Yes, the TaiShin card has a guarantor, and it can be cancelled at any time, should I choose to do so.

24

Sounds like a plan!

Thanks a lot. I’d almost given up the idea of holding plastic whileliving in Asia!

25

Also some stores which have visa master card logos refuse to accept foreign credit cards. The Japanese store on Gung Yi Road ( Yu Mao Wu ? )
being one.

It’s not that the cards cannot be processed it’s just that they wont accept them. I pulled up unloaded a full trolley worth of food on the counter, and gave my credit card like other customers, only to be refused transaction process. So I just left all the food on the counter and walked out.

Discrimination is a fact of life here.

26

Three weeks after I applied to AMEX for a card, nothing. Nada.

27

If you apply for your amex back home first you can then transfer the memebrship to Taiwan. I was thinking about this but the gold card fees for Oz were half for that here.

So I keep my Oz gold card. The membership fees for Taiwan are sky high.
My Oz gold Card Fee is AUD$90 per year, about NT$2,120 per year at current exchange rates. I just pay by internet bacnking.

28

Amex’s fees here are high, but if you use the card often enough then the loss on exchange rates can offset that cost.

Using Sat TV’s example, he will be billed in Oz dollars even for stuff purchased here, and has to pay in OZ dollars, so two times the exchange rate.

29

I opened a simple bank account at ICBC at the request of my new employer. I went in to collect the ATM card and was given a card with ‘visa’ written on it. Imagine my surprise- I hadn’t even bothered to apply for one. My eyes were popping out of my head and I instantly made a decision to go and buy a scooter as soon as I could escape but then the clerk explained that although it has visa written on the front of it- it is not a credit card…
Anyway, I tried asking what it was then and she said that Could use it at any shop providing that I actually have the money in my account- so I’m guessing that it is a debit card.
I thought these were also very difficult to get here in taiwan but apparently not. So, If you don’t want a credit card but you want to oprder stuff online etc…get yourselves down to ICBC and they will sort you out.
Another thing- The card has one of those smart chip things on it but I’ve no idea what it is for.The little book that came with it spends a couple of pages going on in chinese about how revolutionarty it is but without giving any examples. Anyone know what this is all about?

by the way, no guarantor was needed at all and I have almost no money.

30

[quote=“Southpaw”]So, If you don’t want a credit card but you want to oprder stuff online etc…get yourselves down to ICBC and they will sort you out.{/quote]

Hi,

I just want to check this-have you used it to buy things online at places like Amazon.com? :bravo:

Thanks…

31

I haven’t tried to use it online yet- the card doesnt have a 3 digit number on the back like a credit card does …so it cannot be used in exactly the same way- this may be a problem online but i know for a fact it can be used in any shop in the world that handles visa electronically, at least saves carrying cash

32

They’re lying to you. Ask to see the relevant law. They’re bluffing, I bet.

33

How about Amex? An ARC and proof of income is all you need. I’ve had great service from them.

Taiwan banks are full of shit (explanations). Chinatrust denied me a standard visa, saying “you don’t work for a blue-chip company.” Yet, Amex gave me a blue credit card and gold debit card straight away.

34

Change the bank and apply again.

35

I applied for an Amex card and was told only US or Canadian citizens were eligible, I’m neither of those, so no card.

36

The best thing for you is to get a credit card from back home.

After being here 16 years I still use my Australian Visa Card and Australian issues Amex.

One very good reason for this is if you have a dispute you will not have to pay first with any decent western bank. In Taiwan you pay first and fight to get your money back.

3 years ago I received a bill for NT$110,000 from a restuarant on xmas day. I had eaten there and with friends and spent NT$5000… NAB from Australia stood by me and refused to pay. Vendor could not produce a signed receipt… This type of scamming is common in Taiwan. Taiwan banks insist you pay first and then dispute. Could be rather nasty.

37

[quote=“Southpaw”]I opened a simple bank account at ICBC at the request of my new employer. I went in to collect the ATM card and was given a card with ‘visa’ written on it. Imagine my surprise- I hadn’t even bothered to apply for one. My eyes were popping out of my head and I instantly made a decision to go and buy a scooter as soon as I could escape but then the clerk explained that although it has visa written on the front of it- it is not a credit card…
Anyway, I tried asking what it was then and she said that Could use it at any shop providing that I actually have the money in my account- so I’m guessing that it is a debit card.
I thought these were also very difficult to get here in Taiwan but apparently not. So, If you don’t want a credit card but you want to oprder stuff online etc…get yourselves down to ICBC and they will sort you out.
Another thing- The card has one of those smart chip things on it but I’ve no idea what it is for.The little book that came with it spends a couple of pages going on in Chinese about how revolutionarty it is but without giving any examples. Anyone know what this is all about?

by the way, no guarantor was needed at all and I have almost no money.[/quote]
According to my boss, all banks are required to switch over to cards with IC by the first of the year. This includes upgrades to the ATMs, without the IC card you won’t be able to access your money in an ATM. The application I received from my bank had the option of getting a line of credit with the card - so it is billed as a three-in-one card - ATM, debit, and credit card. I haven’t received my card yet so I don’t know. :wink:

38

I had the most bizarre experience of my three plus years here in Taiwan yesterday. I got a new phone line and ADSL service through Chunghwa Telecom (signed a 2-year contract and got the free gift and everything) and did NOT need a guarantor, a deposit, or any other crap or hassle. I couldn’t believe it. :astonished:

39

Surely you had to submit 4 photographs, donate a litre of blood, and submit to an AIDS test?

40

lb, be careful, be very careful…are you losing your foreign accent and turning into a Chinese?? :smiley: I might have to have lunch with you once a year just to keep tabs on your Caucasian appearance!