ICBC potential problems

ilovelisa · ‎12-13-2016

Still haven't received my card in the mail. I found a 1-800 number for card services and called and asked for my credit limit. I was told they couldn't give that information out.

There was one major problem. I know we aren't supposed to trash talk the CSRs regarding their accent. However, it was EXTREMELY difficult to understand the rep due to the accent. It is a bank that caters to Chinese Americans. However, it could cause me potential problems if I need to call about something and can't understand the rep at all.

Amex BCE $10,000 | BofA Power Rewards WMC $10,000 | Discover It $10,000 | ICBC Preferred Gold UnionPay $8,000 | Local CU Visa $3,500

B335is · ‎12-13-2016

I've heard they will only disclose if an application is approved or denied over the phone, which i agree is very annoying.

I got the 10-15 message, never got a HP, then got a denial letter yesterday stating all of these reasons like "serious delinquency" which aren't even the case. I just emailed them but they haven't responded yet. Hopefully my case and yours are isolated but they're all factors to consider when applying for anything.

Anonymous · ‎12-18-2016

Just let them repeat if you don't understand anything. I think it might be a good idea to have a card from ICBC since they are the largest bank in the world and should be able to offer stable products.

Anonymous · ‎12-18-2016

@Anonymous wrote:
Just let them repeat if you don't understand anything. I think it might be a good idea to have a card from ICBC since they are the largest bank in the world and should be able to offer stable products.

It depends on how you're going to use the card. I don't think most people on this forum will get much use out of their UnionPay cards, IMO (unless there are far more frequent travelers to China who post on here). The Visa cards are meh in terms of rewards and you'd likely do a lot better with a Fidelity Visa or Citi DC at minimum.

In short, how big the issuer is isn't nearly as important as costs vs. benefits.

wasCB14 · ‎12-18-2016

@Anonymous wrote:
@Anonymous wrote:
Just let them repeat if you don't understand anything. I think it might be a good idea to have a card from ICBC since they are the largest bank in the world and should be able to offer stable products.
It depends on how you're going to use the card. I don't think most people on this forum will get much use out of their UnionPay cards, IMO (unless there are far more frequent travelers to China who post on here). The Visa cards are meh in terms of rewards and you'd likely do a lot better with a Fidelity Visa or Citi DC at minimum.

In short, how big the issuer is isn't nearly as important as costs vs. benefits.

ICBC is big in China...but how large are their US operations?

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select

Anonymous · ‎12-18-2016

@wasCB14 wrote:
@Anonymous wrote:
@Anonymous wrote:
Just let them repeat if you don't understand anything. I think it might be a good idea to have a card from ICBC since they are the largest bank in the world and should be able to offer stable products.
It depends on how you're going to use the card. I don't think most people on this forum will get much use out of their UnionPay cards, IMO (unless there are far more frequent travelers to China who post on here). The Visa cards are meh in terms of rewards and you'd likely do a lot better with a Fidelity Visa or Citi DC at minimum.

In short, how big the issuer is isn't nearly as important as costs vs. benefits.
ICBC is big in China...but how large are their US operations?

They don't seem to be that big in the US. Then again, making their cards Visa Signature/Infinite would net them more swipe fee revenue and allow for better rewards--if they wanted to do so.

Revelate · ‎12-20-2016

I'm assuming the intrinsic benefit to this is if you travel outside where Visa / MC / Amex / et al. are commonly accepted in places like China outside of the major metropolitan areas?

I guess I should wander over to FT and see how much of a problem this really is, but since I'm not likely to go anywhere there isn't non-trivial Internet infrastructure (which is almost always focused on major metropolitan areas) I probably don't have to pick up yet another hassle card as JCB is enough, though I never had issues understanding them but they've been well established in the US for longer I suspect between patterns of immigration and investment.

Where I draw the line is electronic payment, if I can't make an ACH payment I'm likely to just forget the card and just carry cash if it comes to that.