Credit and credit cards in Hong Kong

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  1. #1

    Join Date
    Feb 2005
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    Credit and credit cards in Hong Kong

    Hello readers,

    I moved to Hong Kong about 8 months ago and have been working fulltime for around 5 months (I have a permanent contract/ HKID card/ apartment lease) - I earn around 25K per month.

    I bank with Citibank (for the last 4 months) I recently applied for a standard Visa card and it got rejected. I do not understand why and the people at the bank are no help. I do not have any other credit cards or outstanding loans in Hong Kong.

    Are there credit agencies where I can find out what the problem is?
    Has anybody else had the same problem?

    Cheers, Pete.


  2. #2

    Join Date
    Apr 2003
    Posts
    12,384

    Best bets are to walk into the bank where you opened your account and talk to the manager.

    There are several issues which come into play.

    1) Do you have a credit card from your previous country?

    2) How long is your contract for?

    3) What country are you from?

    There have been issues with people on short contracts, from many asian countries particularly where the folks charge up their cards right before leaving town.

    On the other hand .. why would you want to bank with Citi? They're pretty useless for personal banking.


  3. #3

    Join Date
    Nov 2004
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    Some banks require a permanent residency, such as Hang Seng. I got mine through HSBC with just 3 months of employment though but that was 4 years ago.


  4. #4

    Join Date
    Feb 2005
    Posts
    33

    Thanks - I am British & I don't have credit cards from other countries.
    You are right Citibank is useless, I opened with them as I was led to believe that it was the only bank to open accounts for non-HKID holder. (which I was at the time).

    Pete.


  5. #5

    Join Date
    Feb 2005
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    BTW - I have a full time / permanent contract with a large multinational.
    I was offered more credit when I was a student.

    My basic is 25K, with commission I make on average 50K per month.

    Pete.


  6. #6

    Join Date
    Apr 2003
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    Then you're with the wrong bank.


  7. #7

    Join Date
    Jan 2003
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    In the Lair of the Village Idiot's Apprenctice
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    walk into a smallish HSBC and chat to the manager about a plain vanilla Mastercard. You should have the plastic by first week of March with a 100k limit. Should help if your salary is autopaid into your HSBC account


  8. #8

    Join Date
    Feb 2005
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    33

    Thanks for your help - could I just open an HSBC account then autopay my salary at the end of this month?

    Is there a minimum amount to open an account at HSBC?


  9. #9

    Join Date
    Nov 2004
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    Third Sphere of Paradiso
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    Yeah, shouldn't be any problem. You could use the same account to autopay your credit card bills too. Minimum amount is $5K. And you can have full access to their online banking service

    http://www.hsbc.com.hk/hk/personal/i...it/savings.htm


  10. #10

    Join Date
    Feb 2005
    Posts
    33

    Thanks for your help - account opened at HSBC & Credit Card on its way.


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