Dual currency credit card

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
16 posts
JA.
Gold Member
Gold Member
 
Posts: 49
Joined: Mon Jan 09, 2012 3:47 am
Location: Denver, CO

Dual currency credit card

Postby JA. » Mon Dec 10, 2012 5:54 pm

I frequently travel to China a lot, So I was thinking of getting a credit card that i can use in the U.S and in China. The card will most likely be issued by China Construction Bank as a mastercard or visa along with unionpay That way I can spend RMB while abroad and spend USD when im in the U.S. The question is will this affect my credit score/ utilization? Or will it just be like any other credit card?


agp
Centurion Member
Centurion Member
 
Posts: 709
Joined: Fri Apr 20, 2012 10:24 pm
Location: US&A

Postby agp » Mon Dec 10, 2012 7:19 pm

If you had to use your SSN when applying for the Chinese card then it will most likely show up on your credit report. Otherwise I doubt it.

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred

trumpet-205
Centurion Member
Centurion Member
 
Posts: 221
Joined: Sat Oct 23, 2010 1:51 pm
Location: CA, USA

Postby trumpet-205 » Mon Dec 10, 2012 10:17 pm

Your best bet is to get Discover credit card here in US. Discover has an alliance with UnionPay that you can use Discover credit card in China. Discover does not charge foreign exchange fee and their conversion ratio is pretty good.

I'd adivse against applying a credit card in China because China uses their own credit reporting system. None of your US credit carries through to China. In Chinese bank's point of view, you have no credit history in China.

Plus using a Chinese credit card in US will likely get yourself a 3% foreign exchange fee.
In My Wallet:
Citi Forward (12/2010) | Citi TY Preferred (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)


CC Deville
Centurion Member
Centurion Member
 
Posts: 998
Joined: Thu Aug 04, 2011 7:07 pm
Location: Phoenix

Postby CC Deville » Tue Dec 11, 2012 6:06 pm

Will a Chinese bank even issue an American a card? Do you have some sort of Chinese ID that will allow for that? Like another poster stated, even if this is available, how will you be qualified for a card in another country with no previous credit history?

Anyway, if it is a Chinese bank and a Chinese credit bureau, it should not impact your US credit history at all.

For reference...Canadians can apply and be approved for Nordstrom cards as well as cards issued by WFFNB (now known as Comenty Bank-Victorias Secret, Crate and Barrel and J Crew to name a few hey that rhymes) and those do report on their Canadian bureaus despite being an American bank and serviced in the US. But because of how close we are to Canada (and they even use Experian and TU) this is expected. China on the other hand, not so much.

JA.
Gold Member
Gold Member
 
Posts: 49
Joined: Mon Jan 09, 2012 3:47 am
Location: Denver, CO

Postby JA. » Tue Dec 11, 2012 7:03 pm

I would just need an initial deposit and a address of which I would use one of my relatives. But I would rather have a U.S issued card with unionpay as I feel it would be a lot less complicated. Also are there other cards that have an alliance with unionpay?

I am actually interested in the discover card however I was wondering if it would be possible to have a unionpay logo on the card? As I know many of the small merchants in China will not know about the card unless they see a visual logo.

trumpet-205
Centurion Member
Centurion Member
 
Posts: 221
Joined: Sat Oct 23, 2010 1:51 pm
Location: CA, USA

Postby trumpet-205 » Tue Dec 11, 2012 7:25 pm

Only Discover has an alliance with UnionPay.

Download this and print it out. Show it to Chinese merchant,
https://www.discover.com/credit-cards/help-center/faqs/assets/DN_CUP_Wallet_Card.pdf
In My Wallet:
Citi Forward (12/2010) | Citi TY Preferred (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)

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

Postby DavidNY » Tue Dec 11, 2012 8:56 pm

Read post #6 in this thread for how to use a Discover card on UnionPay.

For Americans, Discover Card is the usable in China as Unionpay. - Lonely Planet travel forum


JA.
Gold Member
Gold Member
 
Posts: 49
Joined: Mon Jan 09, 2012 3:47 am
Location: Denver, CO

Postby JA. » Wed Dec 12, 2012 1:13 am

DavidNY wrote:Read post #6 in this thread for how to use a Discover card on UnionPay.

For Americans, Discover Card is the usable in China as Unionpay. - Lonely Planet travel forum


haha I actually thought that this would probably happen...

JA.
Gold Member
Gold Member
 
Posts: 49
Joined: Mon Jan 09, 2012 3:47 am
Location: Denver, CO

Postby JA. » Wed Dec 12, 2012 1:36 am


Vermonster
Centurion Member
Centurion Member
 
Posts: 188
Joined: Mon Oct 01, 2012 11:09 pm
Location: NJ

Postby Vermonster » Wed Dec 12, 2012 8:12 am

It is a soft pull. At the bottom you have to agree to a thing that says "I understand that this is not a credit card application, and that this search will not impact my credit score."



Return to “Visa & MasterCard”

Who is online

Users browsing this forum: No registered users and 3 guests
†Advertiser Disclosure
The credit card offers that appear on this site are from credit card issuers from which CreditCardForum.com receives compensation. This compensation may impact how and where products appear on this site, including the order in which they may appear within listing categories. CreditCardForum.com does not include all credit card offers that might be available to consumers in the marketplace.