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Rejected for Credit Cards in SG?

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bri77
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Re: Rejected for Credit Cards in SG?

Post by bri77 » Mon, 21 Mar 2022 3:06 pm

It is beyond belief..

I’m on an LTVP and even less is available to me than if I was on a EP.

I’ve been rejected from loads.. HSBC rejected me for their basic revolution card.. in the end I had to open a HSBC premier Account, once I opened it I applied for the Revolution card then closed my Premier account at $0 cost as soon as I hit 6 months.

I need a Mastercard now to work with my Amaze card.. Applied to Stand Chart over the weekend but they just called to to say only foreigners who are on an EP can apply.. The fact that to get an LTVP requires my wife is either a PR or SC adds even less value than an EP.

I also called CIMB at the weekend and they would only consider me for a credit card if I gave them a $10k holding deposit for the duration I held the card.

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singaporeflyer
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Re: Rejected for Credit Cards in SG?

Post by singaporeflyer » Mon, 21 Mar 2022 3:40 pm

bri77 wrote:
Mon, 21 Mar 2022 3:06 pm
It is beyond belief..

I’m on an LTVP and even less is available to me than if I was on a EP.

I’ve been rejected from loads.. HSBC rejected me for their basic revolution card.. in the end I had to open a HSBC premier Account, once I opened it I applied for the Revolution card then closed my Premier account at $0 cost as soon as I hit 6 months.

I need a Mastercard now to work with my Amaze card.. Applied to Stand Chart over the weekend but they just called to to say only foreigners who are on an EP can apply.. The fact that to get an LTVP requires my wife is either a PR or SC adds even less value than an EP.

I also called CIMB at the weekend and they would only consider me for a credit card if I gave them a $10k holding deposit for the duration I held the card.
Are you working? Salary?

If not,you may ask your wife to get you a supplementary card?

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sundaymorningstaple
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Re: Rejected for Credit Cards in SG?

Post by sundaymorningstaple » Mon, 21 Mar 2022 5:41 pm

Oh, I'm in agreement and I don't pay any on any of my Sg. cards, but you already know why I keep those to particular cards. and the annual fee is worth it for the constant reminder that those two US cards give me.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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malcontent
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Re: Rejected for Credit Cards in SG?

Post by malcontent » Mon, 21 Mar 2022 6:05 pm

bri77 wrote:
Mon, 21 Mar 2022 3:06 pm
It is beyond belief..

I’m on an LTVP and even less is available to me than if I was on a EP.

I’ve been rejected from loads.. HSBC rejected me for their basic revolution card.. in the end I had to open a HSBC premier Account, once I opened it I applied for the Revolution card then closed my Premier account at $0 cost as soon as I hit 6 months.

I need a Mastercard now to work with my Amaze card.. Applied to Stand Chart over the weekend but they just called to to say only foreigners who are on an EP can apply.. The fact that to get an LTVP requires my wife is either a PR or SC adds even less value than an EP.

I also called CIMB at the weekend and they would only consider me for a credit card if I gave them a $10k holding deposit for the duration I held the card.
In theory, once you hit age 55 and have at least $750k in assets, credit card issuers can offer you a $2,500 limit. That limit increases with your income. If you have retirement income of at least $10k monthly, or have at least $2m in retirement assets, there is no regulatory limit on what credit limit they can offer you.

I have an EP now and a 6 figure credit limit across 3 cards. Not sure what will happen if I retire here on an LTVP.
Every great and deep difficulty bears in itself its own solution. It forces us to change our thinking in order to find it - Niels Bohr

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malcontent
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Re: Rejected for Credit Cards in SG?

Post by malcontent » Mon, 21 Mar 2022 6:11 pm

sundaymorningstaple wrote:
Mon, 21 Mar 2022 5:41 pm
Oh, I'm in agreement and I don't pay any on any of my Sg. cards, but you already know why I keep those to particular cards. and the annual fee is worth it for the constant reminder that those two US cards give me.
An interesting thing about Amex, my wife had one when she was studying in the US and hadn’t had one since. During our last trip back I applied for a Delta Gold Amex under her because we’d get over 100k in bonus miles… as soon as they issued the card we were surprised that Amex still had her in their system “Member since 1992” on the card!
Every great and deep difficulty bears in itself its own solution. It forces us to change our thinking in order to find it - Niels Bohr

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Re: Rejected for Credit Cards in SG?

Post by bri77 » Mon, 21 Mar 2022 7:14 pm

singaporeflyer wrote:
bri77 wrote:
Mon, 21 Mar 2022 3:06 pm
It is beyond belief..

I’m on an LTVP and even less is available to me than if I was on a EP.

I’ve been rejected from loads.. HSBC rejected me for their basic revolution card.. in the end I had to open a HSBC premier Account, once I opened it I applied for the Revolution card then closed my Premier account at $0 cost as soon as I hit 6 months.

I need a Mastercard now to work with my Amaze card.. Applied to Stand Chart over the weekend but they just called to to say only foreigners who are on an EP can apply.. The fact that to get an LTVP requires my wife is either a PR or SC adds even less value than an EP.

I also called CIMB at the weekend and they would only consider me for a credit card if I gave them a $10k holding deposit for the duration I held the card.
Are you working? Salary?

If not,you may ask your wife to get you a supplementary card?
If not,you may ask your wife to get you a supplementary card?[/quote]

Yep working and on a pretty high salary. Been in my job for 12 months here.. But they reject me before they ask for any of that..

I just applied for ICBC as their website says I can apply on LTVP. Will see where that one goes to..


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bri77
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Re: Rejected for Credit Cards in SG?

Post by bri77 » Mon, 21 Mar 2022 7:17 pm

singaporeflyer wrote:
bri77 wrote:
Mon, 21 Mar 2022 3:06 pm
It is beyond belief..

I’m on an LTVP and even less is available to me than if I was on a EP.

I’ve been rejected from loads.. HSBC rejected me for their basic revolution card.. in the end I had to open a HSBC premier Account, once I opened it I applied for the Revolution card then closed my Premier account at $0 cost as soon as I hit 6 months.

I need a Mastercard now to work with my Amaze card.. Applied to Stand Chart over the weekend but they just called to to say only foreigners who are on an EP can apply.. The fact that to get an LTVP requires my wife is either a PR or SC adds even less value than an EP.

I also called CIMB at the weekend and they would only consider me for a credit card if I gave them a $10k holding deposit for the duration I held the card.
Are you working? Salary?

If not,you may ask your wife to get you a supplementary card?
Yep, working and on a pretty high salary and a decent amount of assets, so zero risk for them. Been in my job for 12 months here also.. But they reject me before they ask for any of that..

I just applied for ICBC as their website says I can apply on LTVP. Will see where that one goes to..


Sent from my iPhone using Tapatalk

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ThomasAjose
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Re: Rejected for Credit Cards in SG?

Post by ThomasAjose » Tue, 22 Mar 2022 12:45 am

Thanks all for the help, very insightful; - Amex was the trick in the end to getting a card. It was not the one I wanted, and it took a bit of cajoling via customer services (even though I had sent them all the required documents they still asked for more) but I'm grateful for what I have.

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malcontent
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Re: Rejected for Credit Cards in SG?

Post by malcontent » Tue, 22 Mar 2022 9:26 pm

ThomasAjose wrote:
Tue, 22 Mar 2022 12:45 am
Thanks all for the help, very insightful; - Amex was the trick in the end to getting a card. It was not the one I wanted, and it took a bit of cajoling via customer services (even though I had sent them all the required documents they still asked for more) but I'm grateful for what I have.
Congrats. This should help you build credit here, and that should help you gain access to other cards… although be prepared that some are always going to be xenophobic toward non-SC/PR customers, Malaysian banks in particular, with the possible exception of Malaysians.

Once you get there, I recommend matching your spend to the highest card rewards. I tend avoid cards with minimum spend requirements, I’m just not a big spender and don’t aspire to be one.

I eventually settled into a 3 card system:

1. Citi SMRT for groceries, online & transit
2. DBS Esso for occasional gas (wife’s car)
3. StanChart Unlimited for everything else

The DBS Esso does double duty as my ATM/NETS card. This one gives a minimum 17% up front discount on gas, over 20% if I do two fill ups in a month. Esso smiles points are auto credited and I can pay at the pump.

The Citi does double duty as my EZ-Link card, and it’s set to auto-top up, which is very convenient. The only problem is they recently changed the T&C where a minimum $500 monthly spend is required, so I’ve had to bunch up my grocery purchases and only buy every other month — kind of a pain, but I am making it work.
Every great and deep difficulty bears in itself its own solution. It forces us to change our thinking in order to find it - Niels Bohr

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Re: Rejected for Credit Cards in SG?

Post by Lisafuller » Thu, 31 Mar 2022 12:29 am

sundaymorningstaple wrote:
Sun, 20 Mar 2022 10:27 pm
Lisafuller wrote:
Sun, 20 Mar 2022 2:29 am
AMEX is the easiest imo.
Probably because it's a charge card and not a Credit Card per se. Same like Diners Club.
Nope. Credit.

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Re: Rejected for Credit Cards in SG?

Post by Lisafuller » Thu, 31 Mar 2022 12:30 am

ThomasAjose wrote:
Tue, 22 Mar 2022 12:45 am
Thanks all for the help, very insightful; - Amex was the trick in the end to getting a card. It was not the one I wanted, and it took a bit of cajoling via customer services (even though I had sent them all the required documents they still asked for more) but I'm grateful for what I have.
Good for you. This should be a gateway to getting approved elsewhere, sometimes you just need one success to get the ball rolling l.

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Re: Rejected for Credit Cards in SG?

Post by Lisafuller » Thu, 31 Mar 2022 12:32 am

malcontent wrote:
Mon, 21 Mar 2022 6:05 pm
bri77 wrote:
Mon, 21 Mar 2022 3:06 pm
It is beyond belief..

I’m on an LTVP and even less is available to me than if I was on a EP.

I’ve been rejected from loads.. HSBC rejected me for their basic revolution card.. in the end I had to open a HSBC premier Account, once I opened it I applied for the Revolution card then closed my Premier account at $0 cost as soon as I hit 6 months.

I need a Mastercard now to work with my Amaze card.. Applied to Stand Chart over the weekend but they just called to to say only foreigners who are on an EP can apply.. The fact that to get an LTVP requires my wife is either a PR or SC adds even less value than an EP.

I also called CIMB at the weekend and they would only consider me for a credit card if I gave them a $10k holding deposit for the duration I held the card.
In theory, once you hit age 55 and have at least $750k in assets, credit card issuers can offer you a $2,500 limit. That limit increases with your income. If you have retirement income of at least $10k monthly, or have at least $2m in retirement assets, there is no regulatory limit on what credit limit they can offer you.

I have an EP now and a 6 figure credit limit across 3 cards. Not sure what will happen if I retire here on an LTVP.
Wow, you always seem so well informed on everything finance related. I haven’t hit retirement age, but I know my dad's limit is way more than he could ever hit.

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malcontent
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Re: Rejected for Credit Cards in SG?

Post by malcontent » Thu, 31 Mar 2022 12:58 am

Lisafuller wrote:
Thu, 31 Mar 2022 12:32 am
Wow, you always seem so well informed on everything finance related.
It’s a hobby of mine. Just today I consumed at least 1.5 hours of podcasts on the subject. That is typical for a weekday. One of the podcasts was on behavioral finance, the psychology of what makes for successful investors. The stuff just fascinates me.
Every great and deep difficulty bears in itself its own solution. It forces us to change our thinking in order to find it - Niels Bohr

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sundaymorningstaple
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Re: Rejected for Credit Cards in SG?

Post by sundaymorningstaple » Thu, 31 Mar 2022 3:10 pm

malcontent wrote:
Thu, 31 Mar 2022 12:58 am
Lisafuller wrote:
Thu, 31 Mar 2022 12:32 am
Wow, you always seem so well informed on everything finance related.
It’s a hobby of mine. Just today I consumed at least 1.5 hours of podcasts on the subject. That is typical for a weekday. One of the podcasts was on behavioral finance, the psychology of what makes for successful investors. The stuff just fascinates me.
Hobby? I think it's inherent in your DNA/genes, isn't it? :wink: :wink:
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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malcontent
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Re: Rejected for Credit Cards in SG?

Post by malcontent » Thu, 31 Mar 2022 3:23 pm

sundaymorningstaple wrote:
Thu, 31 Mar 2022 3:10 pm
malcontent wrote:
Thu, 31 Mar 2022 12:58 am
Lisafuller wrote:
Thu, 31 Mar 2022 12:32 am
Wow, you always seem so well informed on everything finance related.
It’s a hobby of mine. Just today I consumed at least 1.5 hours of podcasts on the subject. That is typical for a weekday. One of the podcasts was on behavioral finance, the psychology of what makes for successful investors. The stuff just fascinates me.
Hobby? I think it's inherent in your DNA/genes, isn't it? :wink: :wink:
You are probably right — my brother found this old piece of paper where as a kid I had drawn a pie chart showing how I would spend/save portions of my $2 weekly allowance. That is probably not normal.
Every great and deep difficulty bears in itself its own solution. It forces us to change our thinking in order to find it - Niels Bohr

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