Which Credit Card Is Best For Me Reddit

Which Credit Card Is Best For Me Reddit – Disclaimer: This article only provides a basic overview of credit cards in Japan. Following these tips does not guarantee that you will be able to get a credit card. Check with credit card providers for application requirements.

If you’re from somewhere with a less unique financial system than the West or Japan, you’re probably used to credit card companies kicking down your door to get your hands on this mighty plastic. As a foreigner in Japan, it is more important to find a card issuing company than choosing a card.

Which Credit Card Is Best For Me Reddit

Which Credit Card Is Best For Me Reddit

You may have a good credit history at home, but Japanese credit card companies do not register with the credit agencies you use at home (they call it JICC) and they are more conservative. For credit card companies, if you decide to leave Japan without paying, you’re a blank slate and possibly at risk of flight.

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Looking for a debit card and an easy way to send money abroad? The cheapest and easiest way to transfer yen from Japan is Wise (formerly TransferWise). They also offer multi-currency accounts

In most countries, you can spend money on your credit card and then pay it back any way you want. As long as you pay the minimum amount due, you can defer payments for as long as you want (with interest, of course). However, Japanese credit cards require payment in full the following month.

Generally, for consumer credit cards, the monthly payment eligibility period runs from the 16th of the current month to the 15th of the following month. A paid account statement will be sent to the owner before the end of the month. This amount will be paid by direct debit on the 10th of the following month.

For example, for the period from August 16 to September 15, the account statement will be received at the end of September, and the amount will be automatically withdrawn on October 10. No interest is charged as it is paid in full.

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Although you must pay the full amount of the report, you can pay for the purchase in installments

) when buying something. It can be requested at the credit card terminal at the point of sale. You can pay all at once (

The more payments you make, the more you pay. The total interest you pay can range from 12% to 16.37% of the total interest, depending on the card. So if you decide to pay off your laptop for ¥200,000 over 24 months, your total payment will be approximately ¥232,000 (assuming an interest rate of 16%).

Which Credit Card Is Best For Me Reddit

, which allows you to split the payment if you don’t pay all at once. To do this, you must request from your card issuer and they must approve you. As with Bunkatsu Barai, there will be an interest/administration fee to distribute your payment.

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For example, if you owed 120,000 yen on your return, you can deduct 60,000 yen and request payment within six months.

Normal cards (not Gold, Platinum or Black) have lower credit limits, usually just 100,000 Yen (less than $1,000). While you can use them for regular payments, online shopping, and dining out, the low credit limit makes them useless for big purchases like plane tickets, except for installment payments.

All Japanese banks are associated with one or more major brands such as Visa, Mastercard or JCB. Additionally, you can apply directly to JCB or American Express. Visa, Mastercard and JCB are the most accepted cards in Japan. Some merchants may turn away from American Express because of the high fees. Outside of Japan, JCB is accepted only in places frequented by Japanese tourists.

You have a high chance of being rejected because you don’t have a credit report. The tips below may not work, but they may help. Anecdotal evidence (it’s either very easy or very difficult) and vague requirements mean it’s hard to know exactly what’s going to work or what’s going to screw you up. Again, no guarantees.

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Amazon cards, JCB cards, Rakuten and American Express cards are known for their ease of use. Amex cards, on the other hand, seem to have much higher annual fees on average.

The Japanese supermarket giant Aeon has a credit card that will come in handy if you shop there: you’ll earn Waon points and get discounts on groceries. Other perks include movie tickets and JAL airline miles. You can apply for Visa, Mastercard or JCB, but you must do it in Japanese. They also have a family card, a gold card, and a fuel card with Cosmo.

Many regular cards have annual fees starting in the second year. Some cards with points programs have no annual fee. Fees for annual fee cards range from approximately 515 yen to 2,160 yen. The high-end is American Express, with annual card fees ranging from ¥7,560 to ¥12,960 depending on whether it’s co-branded or directly through American Express.

Which Credit Card Is Best For Me Reddit

Gold cards usually have higher annual fees than standard cards, but fees can vary by provider. The fee is usually between 1950 and 10800 yen. Again, Amex and Diners are overpriced, with American Express charging between ¥28,080 and ¥33,480. Annual expenses for Diners range from 27,000 JPY to 29,160 JPY. .

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Although it’s really important if you have a credit card, it’s nice to know how it works in Japan.

One of the benefits of a credit card is that if someone doesn’t deliver to you on a purchase you made, you can request a chargeback. Outside of Japan, it’s usually a relatively simple process: just call the credit card company and ask for a chargeback. Unfortunately, this is often a difficult process in Japan. For example, with an SMBC card, they will ask you to report it as a fraudulent transaction.

As a result, they will cancel your credit card and issue a new one. Transactions will not be deducted from your account or any amount owed to you. Then, after payment, it may take up to three months for the refund to be issued. Your refund will be transferred to your bank account, not your account credit.

The only explanation for such a complicated system is that the card companies in Japan are more on the side of the merchant than yours, so it must be good for business to refuse refunds.

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Well, you’ve applied to five different places and they all come back saying no, and they won’t tell you why they rejected you. What are you doing right now? If you want to join the financial world of the 20th century, you have several options.

As the name suggests, first you have to pay them money or buy a gift card with an already loaded amount. To learn more about prepaid cards and gift cards, see our guide to getting a prepaid credit card in Japan.

Debit cards have the functionality of a credit card, but the amount of your purchase is deducted directly from your bank account. Often they come with points and have the advantage of being integrated with mobile wallets like Apple Pay and Google Pay.

Which Credit Card Is Best For Me Reddit

If you have an account, your current bank is your logical first point of contact. All the major banks offer debit cards these days, but if you have an account with Shinsei Bank, the only way to do that is through their crappy Gaika card, which requires you to top it up whenever you want.

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An alternative to national banks is the international debit card offered by Wise. Another advantage of the Wise account is the ability to manage and transfer currencies.

Don’t forget that you can use a rechargeable IC travel card (Suica or Pasmo) for your purchases in Japan. Simply top up with cash and spend the rest of your money at participating stores across Japan. Unfortunately, the maximum balance you can keep on this card is only ¥20,000, so you may need to top up your card frequently (with a credit card, you can automatically top up your travel card, but we’re talking credit. Check out card options here!) Your Credit Karma An approval rating can help you find a card that matches your credit profile, but it doesn’t guarantee approval. Ultimately, the credit card company will have the final say.

Editor’s Note: Credit Karma receives compensation from third-party advertisers, but this does not influence the opinions of our editors. Our third-party advertisers do not control, endorse, or support our editorial content. It is accurate to the best of our knowledge at the time of publication.

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