Foreign CC discussion

For just about anything you want to get off your chest about credit cards.
9 posts
kelvSYC
Platinum Member
Platinum Member
 
Posts: 52
Joined: Fri Jan 25, 2013 3:10 am
Location: San Bruno

Foreign CC discussion

Postby kelvSYC » Thu Mar 14, 2013 2:14 am

Since this forum is so centered around American CCs, I'm wondering if there is some analogue for some foreign CCs.

I've been wanting to broden my credit profile in multiple countries simultaneously, and while my American efforts are going reasonably well, I'm still looking for recommendations for a secured card issued by a Hong Kong bank (where I have no credit history but do some banking), as well as perhaps adding a low limit Canadian credit card for online purchases (since clearly 0.5% on RBC isn't cutting it).
Current Credit Scores:
VantageScore 3.0 - 760 TU, 764 EX (11-19-16, Credit Karma)
FICO 8 - 747 EX (10-22-16, AmEx statement)
Discover - 750 TU (11-4-16, Discover statement)

Current Credit Cards:
RBC - $8000 CAD
BoA - $13500 USD
Capital One - $2750 USD
AmEx BCE - $4000 USD
Discover It - $8000 USD


DavidNY
Centurion Member
Centurion Member
 
Posts: 1332
Joined: Tue Jul 05, 2011 12:28 pm
Location: New York

Postby DavidNY » Thu Mar 14, 2013 11:24 am

How about the BofA Travel Rewards card? Flat 1.5%, no FTF or AF.

You could use it for C$ purchases since there's no FTF.

swipe_masta
Centurion Member
Centurion Member
 
Posts: 186
Joined: Tue Feb 19, 2013 5:22 pm
Location: USA

Postby swipe_masta » Thu Mar 14, 2013 12:36 pm

kelvSYC wrote:Since this forum is so centered around American CCs, I'm wondering if there is some analogue for some foreign CCs.

I've been wanting to broden my credit profile in multiple countries simultaneously, and while my American efforts are going reasonably well, I'm still looking for recommendations for a secured card issued by a Hong Kong bank (where I have no credit history but do some banking), as well as perhaps adding a low limit Canadian credit card for online purchases (since clearly 0.5% on RBC isn't cutting it).


Am I missing something here? Are you a citizen of the countries where you want credit cards from? I thought the only way you could apply for credit cards in other countries is if you had proof you were a citizen (i.e. ssn #). I used you sell cc in my former line of work and tourists from out of the country and illegal aliens could not apply because they didn't have a valid address and/or no ssn #. Im sure it is the same with almost all countries. I know this to be true in Australia, Japan, and S. Korea for I travel to these places frequently. Most places outside the US use chip technology instead of a magnetized cards. I know in Asia, some cards aren't even physical cards, but a chip that looks exactly like a thumb drive! So these cards would not work in the US and you also have to remember that the US would technically be considered a foreign country from the card's country of origin (if you were planning on using it here) With that said Canada, Im sure would be the easiest seeing how some places except US currency. Now I don't know about Offshore accounts. You said you have a banking relationship with a bank in Hong Kong? I don't think they'll issue you a credit card unless you are a frequent traveler or have a residency there.

swipe_masta
Centurion Member
Centurion Member
 
Posts: 186
Joined: Tue Feb 19, 2013 5:22 pm
Location: USA

Postby swipe_masta » Thu Mar 14, 2013 12:44 pm

Checking and savings accts are different from lines of credit and loans. It's your money vs. their money. Anyone can open checking/savings accts at almost any bank. Even illegal aliens have checking accts. My friend is in the US army stationed in S. Korea and he has a checking acct (I don't know if it's thru the US/SK govt or if he went out and got it on his own). And anyone who has enough money can get an offshore acct in the Caribbean somewhere. To borrow money, Im sure you have to be a resident of that country and a citizen. That way they can track you down easier lol. But for real...

kelvSYC
Platinum Member
Platinum Member
 
Posts: 52
Joined: Fri Jan 25, 2013 3:10 am
Location: San Bruno

Postby kelvSYC » Thu Mar 14, 2013 10:18 pm

swipe_masta wrote:Am I missing something here? Are you a citizen of the countries where you want credit cards from? I thought the only way you could apply for credit cards in other countries is if you had proof you were a citizen (i.e. ssn #). I used you sell cc in my former line of work and tourists from out of the country and illegal aliens could not apply because they didn't have a valid address and/or no ssn #. Im sure it is the same with almost all countries. I know this to be true in Australia, Japan, and S. Korea for I travel to these places frequently. Most places outside the US use chip technology instead of a magnetized cards. I know in Asia, some cards aren't even physical cards, but a chip that looks exactly like a thumb drive! So these cards would not work in the US and you also have to remember that the US would technically be considered a foreign country from the card's country of origin (if you were planning on using it here) With that said Canada, Im sure would be the easiest seeing how some places except US currency. Now I don't know about Offshore accounts. You said you have a banking relationship with a bank in Hong Kong? I don't think they'll issue you a credit card unless you are a frequent traveler or have a residency there.


The US is the only place where I have a credit card issued to me despite not being a citizen therein (it's because I work in the US...). I've had a Canadian credit card (which have all been true Chip + PIN for some time) since before moving to the US (and in fact the bank that issues my Canadian credit card also issues American credit cards), and I do hold HK citizenship; I do have valid addresses in all three of these places.

But I was looking for places to discuss non-American CCs and credit in general, such as reviews of Canadian credit cards, how FICO scores are on a different range in Canada compared to the US, whether or not Beacon scores offered by Equifax Canada and TransUnion Canada are true FICOs, and such.
Current Credit Scores:
VantageScore 3.0 - 760 TU, 764 EX (11-19-16, Credit Karma)
FICO 8 - 747 EX (10-22-16, AmEx statement)
Discover - 750 TU (11-4-16, Discover statement)

Current Credit Cards:
RBC - $8000 CAD
BoA - $13500 USD
Capital One - $2750 USD
AmEx BCE - $4000 USD
Discover It - $8000 USD

kelvSYC
Platinum Member
Platinum Member
 
Posts: 52
Joined: Fri Jan 25, 2013 3:10 am
Location: San Bruno

Postby kelvSYC » Thu Mar 14, 2013 10:21 pm

DavidNY wrote:How about the BofA Travel Rewards card? Flat 1.5%, no FTF or AF.

You could use it for C$ purchases since there's no FTF.


I already have a Canadian credit card for my Canadian dollar purchases. I've had it for over 8 years. But I'd like to get a Canadian credit card (ie. issued by a Canadian bank) offering much better rewards.
Current Credit Scores:
VantageScore 3.0 - 760 TU, 764 EX (11-19-16, Credit Karma)
FICO 8 - 747 EX (10-22-16, AmEx statement)
Discover - 750 TU (11-4-16, Discover statement)

Current Credit Cards:
RBC - $8000 CAD
BoA - $13500 USD
Capital One - $2750 USD
AmEx BCE - $4000 USD
Discover It - $8000 USD

DavidNY
Centurion Member
Centurion Member
 
Posts: 1332
Joined: Tue Jul 05, 2011 12:28 pm
Location: New York

Postby DavidNY » Thu Mar 14, 2013 10:49 pm

kelvSYC wrote:I already have a Canadian credit card for my Canadian dollar purchases. I've had it for over 8 years. But I'd like to get a Canadian credit card (ie. issued by a Canadian bank) offering much better rewards.


How about Scotiabank Momentum Visa Infinite: 4% back on gas and groceries, 2% on drugs and bills, 1% elsewhere, but there's a $99 annual fee.

There's a thread about it here.

swipe_masta
Centurion Member
Centurion Member
 
Posts: 186
Joined: Tue Feb 19, 2013 5:22 pm
Location: USA

Postby swipe_masta » Fri Mar 15, 2013 12:51 am

kelvSYC wrote:The US is the only place where I have a credit card issued to me despite not being a citizen therein (it's because I work in the US...). I've had a Canadian credit card (which have all been true Chip + PIN for some time) since before moving to the US (and in fact the bank that issues my Canadian credit card also issues American credit cards), and I do hold HK citizenship; I do have valid addresses in all three of these places.

But I was looking for places to discuss non-American CCs and credit in general, such as reviews of Canadian credit cards, how FICO scores are on a different range in Canada compared to the US, whether or not Beacon scores offered by Equifax Canada and TransUnion Canada are true FICOs, and such.


I wouldn't hold my breathe... Typically ignorance is bliss when it comes to finance and credit here in the US, let alone international financing. I would be happy to share what few info and personal experiences I have with this topic, but I don't know how relevant it would be to you... I suggest you check Canadian websites (if you can) for something similar to this. As for Hong Kong, when do you expect to make your next trip? lol maybe you can stop by your bank and speak with someone.

swipe_masta
Centurion Member
Centurion Member
 
Posts: 186
Joined: Tue Feb 19, 2013 5:22 pm
Location: USA

Postby swipe_masta » Fri Mar 15, 2013 1:00 am

Try myfico. It is another website like this one, but I believe a little more extensive. Also, I googled Canadian fico, and yes your scores would be different because Canada uses different ranges. The way it is scored it similar to that of the US, so if you know your US fico scores then your Canadian scores would be equivalent in terms of their scoring scale.



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 0 guests