Can a Canadian citizen working in China get a Chinese credit card?

Question

I'll be over in China for the next 3-7 years teaching English and I'm curious if I'll be able to get a credit card while there. I have a Canadian credit card but I'd just like to know what my options are should something come up.

And on the same topic, does a Chinese credit card check my credit in Canada or is it specific to that country? I've built up good credit in Canada and don't mind starting over if I have to, but again I just want to be informed before I leave.

Answer 1

As long as you live and have an address in China, then it should be ok. Mind you, they might need to know your income first.

I don't recommend you to use your canadian credit card as your bank could charge currency exchange fee per transaction.

It is hard to tell if the chinese creditor would check your credit as your canada social insurance number is useless in another country. They could ask your bank to provide a letter to prove your credit rating?

It would be wise to consult it with your bank before you leave for China.  

Answer 2

As far as I know most large banks in China will allow foreigners to obtain a cradit card.  The card works like a check card and is backed up by your savings.  If you don't have the money in the bank for a purchase it won't be approved.  I've been told to obtain a credit card with a line of credit you have to have at least 50,000 RMB before they will approve it.  Just be forwarned that the bank probably won't cover the funds in your account if someone should steal your card and then all the money in your account.  Chinese issued credit cards will work in ATMs in other countries as long as they will take the pin.  My Chinese debit and visa cards had 6-digit pins and some countries only use 4-digit pins.  

When considering a Chinese bank you may want to look at how it is doing on the stock market and find out if it has been involved in any scandals in the last few years.  A few bank CEOs/presidents were found to be putting counterfeit money into their banks to cover the costs of their mistresses.  I had friends that actually got counterfeit money from an ATM at one of these banks.

Answer 3

I think you could get the credit card from the bank that run by foreigners, for example BEA and HBSC...



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