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Self employed and credit card application

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  1. #21

    Join Date
    Jul 2014
    Posts
    232

    My first credit card in Hong Kong was from Citibank, which I was able to get after a time deposit secured as collateral for 6 Months.

    Once you secure the first card, they all start issuing cards.

    Shri has a good point, you don't want too many applications / and rejections effecting your credit score. It's all recorded.

    emx likes this.

  2. #22

    Join Date
    Sep 2006
    Location
    Sha TIn
    Posts
    276

    I talked to standard chartered today and they mentioned that since I have a checking account with them, I can get a secured credit card with an 80k deposit. If all four banks reject me, I might just go for that option and get the Neat card In the meantime.

    I declared non residence in my home country and I’m trying not to use those cards especially for business purchases.

    Last edited by Aritaurus; 20-02-2020 at 08:42 PM.

  3. #23

    Join Date
    Sep 2006
    Location
    Sha TIn
    Posts
    276

    Got rejected by Citibank . I'm assuming that it will be the same for the other three so I better get a Neat account now.

    This is very frustrating.

    Sigh


  4. #24

    Join Date
    Sep 2006
    Location
    Sha TIn
    Posts
    276

    Just a bit of an update.

    I was ready to throw the towel and went ahead to sign up for the Neat business account which was approved. I was also able to get supplementary cards for my associates so it's easy to pay for overseas expenses since they are based abroad.

    Today however, I found out that Heng Seng bank approved me for their Mastercard and I was shocked! They were the only ones that didn't ask for a tax return and the bank statement with one month of salary was good enough. Citibank already refused my application while my AEON and HSBC applications are still in limbo due to all the back and forth.

    My Heng Seng card only has a 10k limit but it's still better than nothing. I'll just prepay the Neat card for all the business related purchases. It's just ironic how all the ones that the folks here said were easy to apply for rejected me while Heng Seng was the only one didn't have a ton of follow up calls and requests for additional documentation.

    Thanks for all the help guys!


  5. #25

    Join Date
    Jul 2014
    Posts
    232

    Congrats. Once you start building credit report it will be much easier to apply other cards.

    Hong Kong credit agency is called TransUnion and you can ask for your own report. First request is free of charge.

    Aritaurus likes this.

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