Enter your search terms Submit search form

      

Off Shore Credit Card

Off Shore Credit Card: Firstly you will need to open an off shore current or savings deposit account to obtain an offshore credit card.

There will probably be some additional administrative and transactional costs incurred on your account to bear in mind, plus there will probably be credit card charges for services such as the use of ATM / Cash machines, which can be quite high.

The rate of return on your off shore credit card security deposit may also be significantly lower than could be expected for other types of off shore investment. This is just one reason an off shore credit card may not be right for you. Any decision needs to be made based on the size of your current account deposits or savings deposit investment, and of course your personal situation.

In a many cases, the off shore credit card can be applied for at the time that the current or savings account is opened. The majority of off shore credit cards can be used both to withdraw money from ATM machines worldwide and to pay merchants, the same way as your regular onshore credit card.

Where the onshore and off shore credit cards differ, is that, for the most part you are required to provide a security deposit for an off shore credit card with your application, and you do not have to undergo a credit check. The deposit required by the off shore bank depends upon your desired credit line, but as a general rule, the deposit usually ranges over 125% of the credit line requested.

Many off shore credit cards offer additional benefits such as insurance, with immediate lost credit card and cash replacement.

Disclaimer - Site Terms & Conditions

Back to Top