United Army Posted October 1, 2011 Author Posted October 1, 2011 Finally getting a credit card, after denials by citibank, hsbc, paypal, e-bay and chase, USAA was the one. So thanks again ed villas.....I'm opening up a checking account and having my military retired pay direct deposited also. I had to open a 2yr CD and that balance will be my credit card security. I looked at Mr Lee's secure credit card link and one credit card had a interest rate of 49.9% wtf!!!! These banks just take advantage us....hsbc I have had a debit card for 2 years with them, they have used my money while it was in their bank and what do they do for me ..nothing, needless to say I will be closing that hsbc account very soon. Link to comment Share on other sites More sharing options...
Art2ro Posted October 1, 2011 Posted October 1, 2011 Anyone can get a secured deposit credit card at any bank, because it's your money being used as a security deposit! I may consider doing so one of these days at my local bank just a few blocks from our home which would be convenient, but for now we have no use for having any credit cards going on 13 years now ever since we retired in the Philippines in 1998. What's wrong with cash anyways? Yeah I know, having a credit card, one can reserve or order anything on-line! I can do that with my U.S. ATM debit card with a Visa logo, but I seldom use it for that purpose because of the surcharges or whatever extra fees are involved with an on-line transaction! So for me, it'll always be cash! Link to comment Share on other sites More sharing options...
Inspector Posted October 2, 2011 Posted October 2, 2011 I'm in no hurry to get back into the credit schemes of things, cash is better! It was due to borrowing that got a lot of people in a financial bind when the bubble burst in the U.S. and when the economy took a nose dive with no recovery in sight! I'm wiser now at my old age without having any credit cards ever since I retired, but unfortunately I didn't a penny to my name when I retired due to all the credit I accumulated during my entire adult working career! Credit cards, I can take it or leave it, but it's still a good tool or back up money for convenience or to borrow time with, if managed properly and one has the money to pay it back in a short period of time! Excellent points...I only carry one card now, HSBC, and use it for as you would...emergency and airline tickets. I was over 20 grand in credit card debt...took me a while to wiggle out of that hole, but I vowed to never again use the card unless it is a emergency, and always pay it off total at the end of the month. To the original poster, try amazon. They give you cards fairly easy. Also...home depot or lowes will get you a start, and they are usually easier to get, and either visa or mastercard. Link to comment Share on other sites More sharing options...
piglett Posted October 2, 2011 Posted October 2, 2011 why do you want to go into debt????i no longer play with snakes ,because snakes bite! piglett 1 Link to comment Share on other sites More sharing options...
United Army Posted October 25, 2011 Author Posted October 25, 2011 Got my USAA credit card and my USAA debit card the other day. So I call the USAA bank to let them know I'm in the Philippines visiting for awhile. The debit card branch put me down as staying in the Philippines as on a extended stay, but the credit card branch could only put me down for 3 months at a time, sort of odd, so I have to call in every 3 months to let them know I'm still in the Philippines. Ok...I can do that. 1 Link to comment Share on other sites More sharing options...
MikeB Posted October 25, 2011 Posted October 25, 2011 Just because you have a credit card doesn't mean you have to use it, you can save it for an emergency. My Amex card (member since 87) saved my bacon last week when I had to come up with almost 500k (over $10,000) in Dr's fees before I could be discharged from the hospital. I could cover it but it means moving money and wire transfers which takes days. The $250 foreign transaction fee sucks but it was an emergency. It's already paid off. Credit is a very valuable thing to have here as long as you use it responsibly. 4 Link to comment Share on other sites More sharing options...
Jim Sibbick Posted October 25, 2011 Posted October 25, 2011 Wow....2 years ago when I moved to the Philippines, I cancelled all my credit cards and went to using debit cards. Now I have been denied by 4 banks for a credit card, their reason, I do not have any credit cards or any revolving accounts with a balance history, which is correct. I do have perfect credit but with using debit cards, the debit cards do not get reported to the credit agencies and since I have no mortgage, no car payment or no credit card or any revolving balances, its like I have died 2 years ago. I never thought this would happen to me, that I cannot get a credit card. Has this happened to anyone else???I have got rid of all my credit cards too. It is the best in my opinion. If you don't have the money to pay, don't buy it. However, I have now arranged a Mastercard debit card. If some thing needs a credit card, I use it but the money comes straight out of my savings account. Regards: Jim 1 Link to comment Share on other sites More sharing options...
Art2ro Posted October 25, 2011 Posted October 25, 2011 (edited) Wow....2 years ago when I moved to the Philippines, I cancelled all my credit cards and went to using debit cards. Now I have been denied by 4 banks for a credit card, their reason, I do not have any credit cards or any revolving accounts with a balance history, which is correct. I do have perfect credit but with using debit cards, the debit cards do not get reported to the credit agencies and since I have no mortgage, no car payment or no credit card or any revolving balances, its like I have died 2 years ago. I never thought this would happen to me, that I cannot get a credit card. Has this happened to anyone else???I have got rid of all my credit cards too. It is the best in my opinion. If you don't have the money to pay, don't buy it. However, I have now arranged a Mastercard debit card. If some thing needs a credit card, I use it but the money comes straight out of my savings account. Regards: Jim I too got rid of all of our credit cards 12 yrs ago before we retired here in the Philippines and can't get one since then, but we do have a U.S. debit card with a Visa logo where we can use our card anywhere and the money is directly taken out of our checking account in the U.S.! I just have to make sure we always have sufficient funds in our account in the U.S. at all times! Works just as good as credit, but cash is better, no debts or monthly payments! "KNOCK ON WOOD"! Edited October 25, 2011 by Art2ro Link to comment Share on other sites More sharing options...
Call me bubba Posted October 26, 2011 Posted October 26, 2011 Wow....2 years ago when I moved to the Philippines, I cancelled all my credit cards and went to using debit cards. Now I have been denied by 4 banks for a credit card, their reason, I do not have any credit cards or any revolving accounts with a balance history, which is correct. I do have perfect credit but with using debit cards, the debit cards do not get reported to the credit agencies and since I have no mortgage, no car payment or no credit card or any revolving balances, its like I have died 2 years ago. I never thought this would happen to me, that I cannot get a credit card. Has this happened to anyone else???I have got rid of all my credit cards too. It is the best in my opinion. If you don't have the money to pay, don't buy it. However, I have now arranged a Mastercard debit card. If some thing needs a credit card, I use it but the money comes straight out of my savings account. Regards: Jim I too got rid of all of our credit cards 12 yrs ago before we retired here in the Philippines and can't get one since then, but we do have a U.S. debit card with a Visa logo where we can use our card anywhere and the money is directly taken out of our checking account in the U.S.! I just have to make sure we always have sufficient funds in our account in the U.S. at all times! Works just as good as credit, but cash is better, no debts or monthly payments! "KNOCK ON WOOD"! Not to criticize your decision or others to close your US CREDIT CARD ACCOUNTS .as we have our own personal reasons to do what we think is best regarding our "private" financial affairs. One should not close ALL OF THEIR US accounts.who knows what can happen tomorrow.you could be declared dead and your income source would be dried up until your prove your alive or the mistake is rectified keep the oldest accounts open as it has the longest "history". once accounts are closed its hard to reopen or rebuild your "credit history"WE are dependent on ourselves not our "extended" families to help us in certain $$$ situations.as 1 member had a "medical emergency " he used his card instead of cash,(yes he paid extra yet it was more convenient in that situation) do you think his/her "family" would have 50.000 or 100.000 to help out? at least he has kept his "card" open in case . AGAIN IT IS YOUR PERSONAL CHOICE to do what we think is best,by having a card(a no fee if possible) that could help us in a "emergency situation" also for those who do have cards and do use them here..PLEASE KEEP IN CONTACT WITH YOUR US BANK ,update them of where your at, so your card will NOT BE FROZE due them not being aware of your current location.,, have a number that they can contact you if they need too or where they can relay a message . 1 Link to comment Share on other sites More sharing options...
Art2ro Posted October 26, 2011 Posted October 26, 2011 (edited) How many expats here who have lived in the Philippines for a few years now and have a U.S. credit card that has at least a $25,000 to $50,000 credit limit or how many expats here have used their U.S. credit cards and maxed it out to $50,000 and was left holding the bag with a $50,000 debt due to medical bills, because they had no medical insurance or their health insurance company didn't come through for them and wasn't reimbursed? So, how long will it take to pay off that $50,000 debt and still have enough money to live on here in the Philippines? So, with or without a high limit credit card, anyone can run into some hard times either which way the coin lands depending on one's financial situation, lifestyle and or circumstances where one has money & assets, but no credit cards vs one who has little money, but has credit cards! Who will eventually come out ahead at the end when all is said and done? For those who are still young or middle age and have lots of money, assets and high end credit cards, they are very well off and don't belong in this group I just mentioned above who are your typical old expat retirees on a mediocre fixed income with or without a credit card or those who are young, smart, adventurous, with little money who desires to work and live abroad with or without a credit card! Just my 2 centavos worth when it comes to credit cards! Edited October 26, 2011 by Art2ro 2 Link to comment Share on other sites More sharing options...
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