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lijunj
Reacher
Joined: Nov 18, 2002
Posts: 347
Location: Kerry Center,Shanghai
Status: Offline
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  Posted:
July 29, 2003 - 12:26 PM |
 
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| Post subject: (Expats)applying for credit card in china |
(ps:i\'ve found many comments about Credit card in shanghai on this sit.credit card are more and more popular in china nowadays.almost all my purchase are through credit card in shanghai last month.i\'m glad if you can find something useful form this topic:)
there are dozens of domestic bank in china have their own credit card service (Mastercard or Visa card)
i\'d like to introduce one of them to expat here: china merchants bank(CMB)(\'cause they declare: expats in china meets the requirements they asked can apply for their credit card)
if you interested with it,don\'t hesitate to contact them:
800-820-5555 (with english service,the best service i\'ve ever received)
http://creditcard.cmbchina.com (only in chinese)
if you have any experience in applying for Credit card in shanghai,please tell us all:)
pls correct me,if i\'m wrong:) |
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Your friend in Shanghai |
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lijunj
Reacher
Joined: Nov 18, 2002
Posts: 347
Location: Kerry Center,Shanghai
Status: Offline
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| Posted:
July 29, 2003 - 12:32 PM |
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| Post subject: (Expats)applying for credit card in china |
http://shanghaiexpat.com/modules.php?op=modload&name=XForum&file=viewt hread&tid=2657#pid9115
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I just got a credit card from China Merchants Bank. According to them, it\'s the first credit card in China that can be used internationally. They have good exchange rates for Japan, HK, and the US, and in all other countries it\'ll convert to USD. They have two options - the gold card has a 50kRMB limit, and the normal card is 10k or 15k.
It was a difficult process - a lot of paperwork. At first, they didn\'t want to give it to me because I was a foreigner, but after some persistence and a helpful salesman, I got it. (I\'ve faxed my Resident Permit, Work Permit, and Passport dozens of times in the past month) All of the forms are geared toward local residents, so there were fields that weren\'t applicable, or had the wrong number of spaces. For example, the ID Card field didn\'t have the right number of digits for my passport number.
If you\'re interested, I can give you the salesman\'s name and number. You\'ll need to be pretty fluent in Chinese or have someone help you, though.
By the way, this is a credit card, not a debit card. There\'s no deposit, but there is a ~300RMB annual fee. |
--------------------------------Brad\'s experience on applying for credit card
[Edited on 29/7/2003 by lijunj] |
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Your friend in Shanghai |
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singaporeano
Reacher
Joined: Apr 23, 2003
Posts: 216
Location: Maoming Lu
Status: Offline
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July 30, 2003 - 02:10 AM |
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| Post subject: (Expats)applying for credit card in china |
| Quote: |
if you interested with it,don\'t hesitate to contact them:
800-820-5555 (with english service,the best service i\'ve ever received)
http://creditcard.cmbchina.com (only in chinese)
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hmm they want foreigners to apply for credit cards with them and they haven\'t even got an english web site set up?
hmmmmmm......  |
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It's not what you do, but the spirit with which you do it - Mother Teresa |
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yu888
Board Deity
Joined: Jan 25, 2003
Posts: 18220
Location: ZhongShanParkArea SH
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July 30, 2003 - 05:41 AM |
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| Post subject: (Expats)applying for credit card in china |
| Quote: |
| Quote: |
if you interested with it,don\'t hesitate to contact them:
800-820-5555 (with english service,the best service i\'ve ever received)
http://creditcard.cmbchina.com (only in chinese)
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hmm they want foreigners to apply for credit cards with them and they haven\'t even got an english web site set up?
hmmmmmm...... |
Almost as stupid as American and European financial instititions that want Asian fundsw but insist on English/Euro language websites only... Thats ok, such stupididty only creates opportunity for others  |
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Thoughts & updates about Shanghai On my Blog for more details:Random Thoughts about Living in Shanghai...and more |
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lijunj
Reacher
Joined: Nov 18, 2002
Posts: 347
Location: Kerry Center,Shanghai
Status: Offline
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July 30, 2003 - 11:31 AM |
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| Post subject: (Expats)applying for credit card in china |
i donno why they making such a stupid mistake although they\'ve set up a top call center in china...
hmmm...forgive me  ...
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Your friend in Shanghai |
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kiwiguy_china
Seeker
Joined: Aug 31, 2003
Posts: 63
Location: Somewhere over the rainbow ...
Status: Offline
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Oct 12, 2003 - 01:12 PM |
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I checked out the website (or should i say, had a friend who can read Chinese take a look) and here is a translation of what is there, for others of us who can not read Chinese!
First you should go to China Merchant Bank to get an application form. Then take the completed application form, together with a copy of your foreign residents permit, passport, work permit and income declaration letter to the Bank. (Not sure what this income declaration letter is exactly!!!!) The credit card will then be prepared and posted to you.
I plan to try getting a card next week so will let you know if it is as simple as it seems!!!!! |
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RoryC
Seeker
Joined: Sep 29, 2003
Posts: 68
Location: Shangers
Status: Offline
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Nov 25, 2003 - 10:39 AM |
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kiwiguy, did you get a CMB Credit Card in the end? Any pitfalls and/or recommendations? |
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LeiFeng
Raver
Joined: Oct 17, 2002
Posts: 440
Location: Shanghai
Status: Offline
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Nov 26, 2003 - 09:49 AM |
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Income declaration is a letter issued by your company with your company's finance departments seal (although sometimes the general seal may be accepted) that states something like "X works for Y. X's monthy salary is Z". Some banks have forms that the company should use for it; CMB doesn't.
The credit limit on the non-Gold card is not high - my friend got RMB 3k. To get a Gold card you salary certification must show your salary as RMB 10k+ per month.
The card seems useful if you are on an RMB salary. In fact, I'm suprised that they even allowed CMB to issue this card, as it represents a significant departure from the government's tight controls on who can exchange what, when and where. |
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kiwiguy_china
Seeker
Joined: Aug 31, 2003
Posts: 63
Location: Somewhere over the rainbow ...
Status: Offline
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Nov 29, 2003 - 09:03 AM |
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RoryC - I decided against getting a local card, in the end. Trying to curb credit card spending and figured retaining my international cards from home provides enough temptation for me! lol
Leifang - thanks for that info about salary requirement for Gold Card |
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Neroccio
Barker
Joined: May 12, 2004
Posts: 192
Status: Offline
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Aug 27, 2004 - 12:31 AM |
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reviving this one from the grave sorry!
has anyone got an update on expats applying for chinese credit cards? Ideally would like to use BoC (better the devil you know...)
Getting heartily sick of jumping through the hoops to make remittals to payoff my foriegn visa. A local card that I can use overseas would be very helpful... |
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debbunny
Lurker
Joined: May 12, 2004
Posts: 22
Status: Offline
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Sep 17, 2004 - 11:57 PM |
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er.. not sure how old this thread is.. 
its really easy getting a credit card here. Got a gold credit card with CMB just with my residence permit/ staff ID and passport. didnt even need any income statements! Only got a rmb20k limit though, but its really handy especially when u don't have time to go to the atm.....
think BoC needs 3 mths payslips/ tax receipts. but otherwise, pretty straight forward procedures. OH. credit card app forms are in chinese. and bills are also in chinese. but they have an english call centre, so u can go thru the bill line-by-line with 'em. |
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Andreas
Board Royalty
Joined: Feb 27, 2004
Posts: 6774
Location: 31 N 121 E
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Sep 25, 2004 - 10:40 AM |
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Why not set up an account with HSBC ? You can apply for any major international credit card, plus the internet banking system is one of the best I have ever seen. And all is in English and Chinese. |
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sha4219
Newbie
Joined: Oct 23, 2004
Posts: 6
Location: Shanghai
Status: Offline
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Oct 23, 2004 - 02:35 PM |
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Shanghai Pudong Development Bank (partnering with Citibank) also offers a credit card program for foreigners; a dual currency USD-RMB credit card managed using Citibank technology. This one was in the news (http://www.washingtonpost.com/ac2/wp-dyn/A14378-2004Feb4?language=pri nter). Check out the bank's credit card website http://www.spdbccc.com.cn/en/index.htm. The only catch is, the application form is all in Chinese. |
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