topic Re: Can Americans get international credit cards from foreign banks? in Credit Cards

Can Americans get international credit cards from foreign banks?

astrangerwcandy — Wed, 13 May 2015 16:01:17 GMT

just out of curiosity. I've seen some nice cards from Canadian/UK Commonwealth banks but don't know if Americans can actually get these cards.

Re: Can Americans get international credit cards from foreign banks?

Anonymous — Wed, 13 May 2015 16:14:20 GMT

@astrangerwcandy wrote:
just out of curiosity. I've seen some nice cards from Canadian/UK Commonwealth banks but don't know if Americans can actually get these cards.

No, you can't. You have to be a resident /establish you will be living there in that particular country to get the cards offer there.

Re: Can Americans get international credit cards from foreign banks?

CreditPacMan — Wed, 13 May 2015 16:09:46 GMT

I think you can't .. but anyway we have a ton of options here in the US and others dream of having the great cards we have offered here!

Re: Can Americans get international credit cards from foreign banks?

victor7 — Thu, 14 May 2015 04:51:25 GMT

@astrangerwcandy wrote:
just out of curiosity. I've seen some nice cards from Canadian/UK Commonwealth banks but don't know if Americans can actually get these cards.

I have cards from several countries outside the US, including the UK--and I do not have residences in all of those countries. So yes, in some cases you can. But I don't know about Canada.

Sadly, the US government has been making it very difficult for US citizens to do any banking outside the US--mostly by punishing the non-US banks who do business with American citizens. As a result, many non-US banks simply won't do business with US citizens. But some still will, so you simply have to look a bit harder to find a bank that will accept you.

Re: Can Americans get international credit cards from foreign banks?

Anonymous — Thu, 14 May 2015 04:54:39 GMT

Hmm.

I don't suppose the topic is taboo. So just how does one go about that?

Re: Can Americans get international credit cards from foreign banks?

Anonymous — Thu, 14 May 2015 07:14:12 GMT

there are a few furniture stores in CA TX AZ NM that operate in Mexico and possibly south american countries. If you can get a store card in the us you'll build positive credit for VISA/MC opportunities.. I will asssume its the same with a Mexican bank. Some of the Hispanic catering supermarkets have banks inside that have spanish names, not sure if they are fully connected to outside banks, or something from here simply named something Spanish to invite Spanish speakers with american dollars.

The only positive i see from snatching up one of those is the fact that most of the competitive ones won't have foreign transaction fees because everyone from europe and even canada "goes on holiday" much more than American counterparts.

Re: Can Americans get international credit cards from foreign banks?

Anonymous — Thu, 14 May 2015 11:30:01 GMT

@Anonymous wrote:
Hmm.

I don't suppose the topic is taboo. So just how does one go about that?

Well, you probably wouldn't want these particular cards, but a number of UK banks offer "offshore" banking, e.g. HSBC's version:

https://www.expat.hsbc.com/1/2/hsbc-expat/products/cards?HBIB_dyn_lnk=hme_nav_t2_col1_lnk_3

offers various sterling-based credit cards.

Re: Can Americans get international credit cards from foreign banks?

Anonymous — Thu, 14 May 2015 12:43:37 GMT

I think you can apply for one of the Dubai First credit cards if you qualify

Re: Can Americans get international credit cards from foreign banks?

Themanwhocan — Thu, 14 May 2015 17:14:38 GMT

@Anonymous wrote:
@astrangerwcandy wrote:
just out of curiosity. I've seen some nice cards from Canadian/UK Commonwealth banks but don't know if Americans can actually get these cards.
No, you can't. You have to be a resident /establish you will be living there in that particular country to get the cards offer there.

I'm hoping that its enough to merely be a Canadian Citizen. Being a Resident is more complicated.

Re: Can Americans get international credit cards from foreign banks?

Anonymous — Thu, 14 May 2015 17:20:04 GMT

Don't get any ideas @Nixon!

Re: Can Americans get international credit cards from foreign banks?

Jarrodpd — Thu, 14 May 2015 18:20:21 GMT

@Anonymous wrote:
@Anonymous wrote:
Hmm.

I don't suppose the topic is taboo. So just how does one go about that?
Well, you probably wouldn't want these particular cards, but a number of UK banks offer "offshore" banking, e.g. HSBC's version:

https://www.expat.hsbc.com/1/2/hsbc-expat/products/cards?HBIB_dyn_lnk=hme_nav_t2_col1_lnk_3

offers various sterling-based credit cards.

Looking through all the details makes me happy that the US isnt as stringent on credit cards. To be an account holder with them you need to have £60,000 or equivalent in $/€, that would be almost $95K or €83K. Also from what I gether most of the cards have foriegn transactions of 2.9% except the Amex cards. With the Amex cards you cant get one if you have an U.S. nationality.

Re: Can Americans get international credit cards from foreign banks?

Anonymous — Thu, 14 May 2015 20:38:33 GMT

@Jarrodpd wrote:
@Anonymous wrote:
@Anonymous wrote:
Hmm.

I don't suppose the topic is taboo. So just how does one go about that?
Well, you probably wouldn't want these particular cards, but a number of UK banks offer "offshore" banking, e.g. HSBC's version:

https://www.expat.hsbc.com/1/2/hsbc-expat/products/cards?HBIB_dyn_lnk=hme_nav_t2_col1_lnk_3

offers various sterling-based credit cards.
Looking through all the details makes me happy that the US isnt as stringent on credit cards. To be an account holder with them you need to have £60,000 or equivalent in $/€, that would be almost $95K or €83K. Also from what I gether most of the cards have foriegn transactions of 2.9% except the Amex cards. With the Amex cards you cant get one if you have an U.S. nationality.

Right, but that 60K GBP isn't really to get the card, it is to get an offshore account. Compare it more with the limits needed for say Chase Private Banking, here (although they are for different purposes)

Re: Can Americans get international credit cards from foreign banks?

victor7 — Thu, 14 May 2015 21:49:24 GMT

@Anonymous wrote:
@Jarrodpd wrote:
@Anonymous wrote:
@Anonymous wrote:
Hmm.

I don't suppose the topic is taboo. So just how does one go about that?
Well, you probably wouldn't want these particular cards, but a number of UK banks offer "offshore" banking, e.g. HSBC's version:

https://www.expat.hsbc.com/1/2/hsbc-expat/products/cards?HBIB_dyn_lnk=hme_nav_t2_col1_lnk_3

offers various sterling-based credit cards.
Looking through all the details makes me happy that the US isnt as stringent on credit cards. To be an account holder with them you need to have £60,000 or equivalent in $/€, that would be almost $95K or €83K. Also from what I gether most of the cards have foriegn transactions of 2.9% except the Amex cards. With the Amex cards you cant get one if you have an U.S. nationality.
Right, but that 60K GBP isn't really to get the card, it is to get an offshore account. Compare it more with the limits needed for say Chase Private Banking, here (although they are for different purposes)

Exactly. You only need to qualify for HSBC Premier in one country (presumably your home country), and the requirements vary by country. That allows you to open accounts in other countries, and then get credit there. (You can do it without being HSBC Premier, but there are additional fees, and it's a bit harder.) You do not need to keep a large balance in those other countries. This is really convient for people who live part time outside the US, or who travel extensively.

So, for example, you can be HSBC Premier in the US ($100k on deposit), and then open Premier accounts in other HSBC countries (UK, Hong Kong, wherever). Then that HSBC bank can issue you a local card, local mortgage, etc. I've done this, and while it's a pain to set up (HSBC is a bit bureacratic), it works great once it's in place. To avoid conversion fees, I only use a card for transactions in that card's native currency.

I believe Citibank offeres similar services for their Citigold clients and I think requires less money on deposit. But they don't serve the countries I need, so I've not used them much. Likewise, there may be other banks that provide this service, though it is getting harder for US citizens.

Re: Can Americans get international credit cards from foreign banks?

Anonymous — Sun, 10 Jan 2016 04:57:05 GMT

HI Victor 7. Thanks for your information. I had 2 questions.

1. What are some of ther other foreign banks that give credit cards to dual citizens

2. Can you give me a few rules and a general time period to increase the credit score to a igh level.

Thanks
S

Re: Can Americans get international credit cards from foreign banks?

Anonymous — Sun, 10 Jan 2016 05:18:03 GMT

@Anonymous wrote:
HI Victor 7. Thanks for your information. I had 2 questions.
1. What are some of ther other foreign banks that give credit cards to dual citizens
2. Can you give me a few rules and a general time period to increase the credit score to a igh level.

Thanks
S

The thread is 8 months old! In general, it's not dual citizenship that matters, you either need some form of residence in one of the countries (to establish say an HSBC account of the right type) or use an offshore arrangement.

There are lots of posts on how to improve credit scores, see the rebuilding section for example. BUT, your US credit history won't apply if you apply for cards in other countries usually. Some issuers such as Amex can use history in one country to issue you a card in another, but the history itself won't transfer to credit bureaus in that country.

Re: Can Americans get international credit cards from foreign banks?

Imperfectfuture — Sun, 10 Jan 2016 05:43:16 GMT

@CreditPacMan wrote:
I think you can't .. but anyway we have a ton of options here in the US and others dream of having the great cards we have offered here!

^^^^This. Foreign cards, higher apr's, high income qualifications (verified), lesser rewards. Check out the cap one Costco card for Canada, no want. There is more competition here. Looser bank regs (despite the CFPB). I sometimes feel for the Brits and EU folks.

Re: Can Americans get international credit cards from foreign banks?

Imperfectfuture — Sun, 10 Jan 2016 05:47:12 GMT

Oops, LTL is right, old thread.

Re: Can Americans get international credit cards from foreign banks?

Anonymous — Sun, 10 Jan 2016 05:48:03 GMT

@Imperfectfuture wrote:
@CreditPacMan wrote:
I think you can't .. but anyway we have a ton of options here in the US and others dream of having the great cards we have offered here!
^^^^This. Foreign cards, higher apr's, high income qualifications (verified), lesser rewards. Check out the cap one Costco card for Canada, no want. There is more competition here. Looser bank regs (despite the CFPB). I sometimes feel for the Brits and EU folks.

Depends what you want though:

http://www.moneysupermarket.com/credit-cards/search/results/?goal=CC_ALLCARDS

Several cards with 38 months of 0% BT.

Re: Can Americans get international credit cards from foreign banks?

Anonymous — Sun, 10 Jan 2016 07:44:10 GMT

Speaking of foreign issuers, a legit UnionPay card might be kinda neat. I don't think any US bank issues those.

Re: Can Americans get international credit cards from foreign banks?

Anonymous — Sun, 10 Jan 2016 15:51:17 GMT

I was in Toronto for fun and I was instapproved for Eaton's and Hudson Bay store cards. Of course, this was years ago so I'm not sure it could happen now.