Esun Bank Credit Card isn't a credit card at all!

Business Money
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I currently have 3 credit cards in Taiwan.

Cathay, Citibank and China trust. All of which are unsecured and have no restrictions on them.

In fact, my cathay one has an APR of only 3%…

I was opening an account with Esun because I was planning to use them for international transfers due to the advertised $100ntd remittance fee…

Upon opening the account I asked about credit cards. The lady showed me a real cute one that offered some discounts and I thought I could have it as a backup.

I applied and was told that I was approved for a generous limit… Then the lady tried play me as a full “Let’s set up the direct debit so you don’t have to worry about your bill” I said “oh it’s fine I like to pay them manually”, “well, it’s mandatory that you direct debit the bill in full because you’re a foreigner and also the card will have no cash advance.”

Needless to say that I am closing down my account with them and will never bank with them again… But for the love of god. DON’T GIVE THEM ANY BUSINESS AT ALL!!!

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WELCOME TO TAIWAN! :rofl:

And they will not give a flying fuck.

Sorry. It’s the story of our lives.

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Flying close to the (E)sun and almost getting burned.

It happens to the best of us.

Guy

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Yeah. E.Sun hates foreigners. They are relieved when foreigners go. He’s doing them a favour.

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I don’t think this is because you are a foreigner. I think it’s because you applied for a charge card, not a credit card. Charge cards should be paid off in full at the end of the month. Any responsible credit card user will pay their bill off in full at the end of the month anyway, so it shouldn’t be a problem really.

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At least it wasn’t the type of “credit card” where you have to provide a permanent deposit equivalent to the credit limit, i.e., you’re the one providing credit to the bank.

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It wasn’t a charge card at all. Here is their website which states “1. This credit card does not have cash advance and revolving credit options. Cardholder must pay the total amount payment monthly.”

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They have the nerve to call it “friendly.” :sweat_smile:

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That is not the point.

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this link here Foreigner area - 玉山銀行

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I’m withdrawing $4mill NT that was transferred for the investment account. We’ll see… Maybe they won’t care but the lady who spent hours setting up my accounts did seem a little shocked over the phone.

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Yes, no revolving credit and needing to pay off every month is the distinction between a charge card and credit card (at least with amex, who was probably the largest charge card company (i think amex mostly allows you to carry some balance on their ‘charge’ cards now though)).

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Be sure to tell them exactly why you are doing this.

Guy

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That is the definition of a charge card, to be fair.

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I applied for an asked for a “credit card” I also used the same “credit card” application form as the Taiwanese use. The only difference is that they turn off two features for me because I am a foreigner…

Also, if it is a “charge card” then there should be a separate application and they should change the name on their website.

Either way… charge card or glorified debit card. I didn’t sign up for that.

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They won’t care. Upper management won’t care. There is no retentions team. When they open an account for you, they are doing you a favour in their eyes. For upper management, they feel it’s best to ensure that they do not lose even one dollar of money they are entitled to, even if they miss out on net profits. This is an attitude commonly held by a lot of managers here.

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Why is this even an argument? They clearly list it as “credit card” But the difference is based on your nationality, not the form you fill out.

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I was under the impression that E.Sun only offer charge cards, even to Taiwanese. Am I mistaken?

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I’m afraid you could be right. You make a lot of sense. Either way… I will be closing the account tomorrow and submit a petition to the ministry of interior

1 Like