Jump to content

Sign in to follow this  
hegemony

First UnionPay credit card issued by Chinese bank in the US

Recommended Posts


Still a 1% card which seems like a waste of a HP.

With me, it was to get a different card, not any benefits. Kind of like when I opened a JCB card account. I like variety.

Edited by Burgerwars

Share this post


Link to post
Share on other sites

So is the poster claiming UnionPay cards issued from banks outside China won't work inside China, even from Hong Kong?

 

I don't find it logical that UnionPay would issue such a crippled product. The Alipay app is another issue, but in looking at app in the Android store, it's not in English, and from some of the comments, it may not even be available if you're not from China.

 

In any event, since 99% of us here can't get the China version, and it is probably next to impossible for U.S. persons to open a bank account there, the U.S. version is all we can get. There's really no choice.

 

If this card came out a couple months ago, I would have been able to test it in China. I don't have plans for another visit, but if I do, my tourist visa is still good for another 10 years.

It would appear that's exactly what's being claimed.

 

While there is, in fact, no real other option, Joshua H's statement would suggest that the card has practically no use period - to my knowledge, China UnionPay isn't at all necessary in Hong Kong or anywhere in Europe or North America. The cards are effectively standard 1-1.5% cards that have limited use in places where we can already employ much better products on the Visa, MasterCard, AMEX, JCB, or Discover / Diner's Club networks.

Share this post


Link to post
Share on other sites

We'll eventually know. ICBC's (US) website does say this UnionPay card is widely accepted in China.

 

But either way, I don't think it matters much. When I went to Shanghai last month, my U.S. Visas and MasterCards I brought, worked just fine. I didn't end up sleeping on the streets.

Share this post


Link to post
Share on other sites

 

I don't think this comment at Doctor of Credit or anything like it has been mentioned in this thread yet.

 

Dont count on this Unipay version card. It does NOT function the same as regular Unipay card!!!

Unipay actually has two types of channels. One is for the cards in China and the other is for the cards in Hongkong, Eurpoe and U.S. Most of the POS machines in China ONLY accept the first type of Unipay credit card!

Plus, we have enough DPs to prove that this Unipay card cant not be added into Alipay nor WeChat Wallet! This makes it totally WORTHLESS. Remember, in China, Alipay and WeChat wallet are now the most widely acceptable payment methods. People even prefer it more than cash. Even beggar accepts them!

So is the poster claiming UnionPay cards issued from banks outside China won't work inside China, even from Hong Kong?

I don't find it logical that UnionPay would issue such a crippled product. The Alipay app is another issue, but in looking at app in the Android store, it's not in English, and from some of the comments, it may not even be available if you're not from China.

In any event, since 99% of us here can't get the China version, and it is probably next to impossible for U.S. persons to open a bank account there, the U.S. version is all we can get. There's really no choice.

If this card came out a couple months ago, I would have been able to test it in China. I don't have plans for another visit, but if I do, my tourist visa is still good for another 10 years.

There is a lot of confusion and conjecture about UnionPay cards issued outside of mainland China. Burger hit the nail right on the head when he found it illogical UnionPay (actually Chinese banks) would issue a crippled product. The fact is they didn't and it isn't.

 

What is crippled is your average Mainland POS machine. We touched on this a while back as it relates to Discovery's supposed acceptance everywhere in China. First a trip down memory lane ...

 

UnionPay has always had a bug up their butt over Visa and MasterCard. This was obvious when chip cards started coming on the scene and UnionPay refused to joint the EMV consortium. UnionPay issued their own non-compatible chip. At the same time cheap UP-chip-enabled POS machines flooded Taobao, from where the vast majority of merchants obtain their POS machines at a fraction of the cost of POS machinese pushed by the banks. These machines could not properly read EMV chips.

 

Shortly thereafter, UnionPay saw the light and joined the EMV consortium. All their cards were then issued with EMV compatible chips. Still, however, the vast majority of Mainland merchants are using non-EMV-compatible POS machines. This isn't just a problem for Discovery or non-Mainland UnionPay issuers, this is also a problem for every Mainland Chinese credit card user. Well over 1/2 the time I try to pay with my Mainland-issued credit cards in China at smaller, unknown merchants, the transaction fails. Even at larger, established merchants the failure rate is about 25%. If, however, the card is swiped and not dipped, the success rate is virtually 100%. Unfortunately, though, the percentage of merchants with swipe-only POS machines is virtually nil. The wonders of Taobao. The problem has absolutely nothing to do with whether or not your UnionPay card was issued on the Mainland.

 

Regarding AliPay or WeChat, these platforms are not designed for credit cards issued outside of the Mainland. When you add a card to these platforms it automatically verifies the card and your Chinese ID / account opening ID with the card issuing bank. It's pretty myopic to believe they are going to have a 24/7 connection to, say, the US banking system to verify your card details, telephone number and ID card number. Oh, wait a minute ... your average US bank doesn't even know your ID card number. :rolleyes:

 

AliPay and Wechat are much more than a PayPal or Apple Pay substitute for Chinese consumers. AliPay and Wechat have direct access to the Central Bank clearing system. I seriously doubt AliPay or Wechat give a rat's butt about incorporating the ability to use non-Mainland cards. If you really want, you can use Apple Pay in China. You can use both Mainland-issued cards and overseas issued cards to your heart's content while in China.

 

Burger, by the way, you can get AliPay in English. Actually you select language within the Chinese version. I use mine every day.

 

I think Joshua H. is ignorant about the real value of overseas issued UnionPay cards. These cards are not designed for 99.9% of you. They are designed for Chinese who spend time overseas, overseas Chinese or those who frequently travel to China. The beauty of the card is that you pay in Chinese currency, but get billed in $ with a far better exchange rate and lower fees that Visa / MasterCard or AmEx. Another wonderful function for Chinese consumers is that you avoid the $50,000 annual cap on foreign currency purchases. Using a Chinese credit card when I go home on vacation entails making purchases in US$. When I return to China I have the option of paying my bank $ or converting the debt to Chinese yuan. If I have to convert, say, $10,000, that comes off my annual foreign currency exchange quota. If I have a Hong Kong issued UnionPay card, I can pay directly in Chinese yuan and there are no currency conversions involved. I also have no FTFs or foreign currency conversion spreads. Using a US-issued UnionPay card, I don't worry about FTF and get a more favorable exchange rate than if I paid with Visa or MasterCard.

 

For me, though, the biggest draw is that it's yet another card and I've pretty much run out of crap to apply for.

Share this post


Link to post
Share on other sites

This card is probably most useful to people like PotO and Konrad who spend a lot of time in China.

 

It is also attractive to collectors like Burgerwars and people like Heg looking for an oddball card. :lol: I may get bored enough with my credit on down the road to play that game, but adding a 1-1.5% cash back card at this point isn't too attractive.

Share this post


Link to post
Share on other sites

This card is probably most useful to people like PotO and Konrad who spend a lot of time in China.

 

It is also attractive to collectors like Burgerwars and people like Heg looking for an oddball card. :lol: I may get bored enough with my credit on down the road to play that game, but adding a 1-1.5% cash back card at this point isn't too attractive.

Exactly!

 

In the overall scope of things in this game, the card is dull. But like others, I'm bored. It's something new and exotic. And $50 is $50. And Experian, for me, is a plus.

Share this post


Link to post
Share on other sites

Update.

 

So, the reason I'm interested in this is mostly because my current employer will be sending me to our representative offices in Beijing and Shanghai once a month, and partly for the weird card factor. Also, because our corporate cards are private label FNBO Visas which are terrible.

 

So I unfroze EX and took the hit.

 

I'll hear back in 15 days. Not feeling too good about this.

Edited by ElGringo

Share this post


Link to post
Share on other sites

Update.

 

So, the reason I'm interested in this is mostly because my current employer will be sending me to our representative offices in Beijing and Shanghai once a month, and partly for the weird card factor. Also, because our corporate cards are private label FNBO Visas which are terrible.

 

So I unfroze EX and took the hit.

 

I'll hear back in 15 days. Not feeling too good about this.

No instant approval?

 

Traveling to and from China each month sure will earn frequent flyer miles and get you status. I really can't travel that often. I've taken 19 overseas trips in the past eight years. About half the time I come back with an "airplane cold." I'm still recovering from my Shanghai trip. A lingering cough.

 

Tell us if you're approved. Good luck.

Share this post


Link to post
Share on other sites

 

Update.

 

So, the reason I'm interested in this is mostly because my current employer will be sending me to our representative offices in Beijing and Shanghai once a month, and partly for the weird card factor. Also, because our corporate cards are private label FNBO Visas which are terrible.

 

So I unfroze EX and took the hit.

 

I'll hear back in 15 days. Not feeling too good about this.

No instant approval?

 

Traveling to and from China each month sure will earn frequent flyer miles and get you status. I really can't travel that often. I've taken 19 overseas trips in the past eight years. About half the time I come back with an "airplane cold." I'm still recovering from my Shanghai trip. A lingering cough.

 

Tell us if you're approved. Good luck.

Hopefully you'll make it through ok. Has anybody come up with a recon number just in case?

 

If you can't get approved, try for COUGH COUGH Discovery. You can use it anywhere you would have used the UnionPay card.

 

Don't feel bad, Burger. Every time I leave Shanghai I have nightmares for a week about having to return -- weaking up in cold sweats until I realize I've successfully escaped.

Share this post


Link to post
Share on other sites

Update.

 

So, the reason I'm interested in this is mostly because my current employer will be sending me to our representative offices in Beijing and Shanghai once a month, and partly for the weird card factor. Also, because our corporate cards are private label FNBO Visas which are terrible.

 

So I unfroze EX and took the hit.

 

I'll hear back in 15 days. Not feeling too good about this.

Email them and ask about your application. Give them your name, DOB, and Drivers licence ID number and they can locate your application and will email you the status

cardinfo@icbc-us.com

BTW Online banking is possible, however its not the most convenient. I Had to wait a day until I Could enroll, and if you enter your password too many times you have to either go in branch and have them reset your account or wait 24 hours.

Share this post


Link to post
Share on other sites

Thanks PotO. Long airplane flights are an absolute germ, virus, bacteria, etc., sharer. I'll recover. Some are more sucessible to stuff like this than others. An acquaintance of mine, who is a flight attendant, gets sick on long flights too. She now only gets assigned to shorter flights and does ok.

 

A co-worker of mine asked me what was wrong with me. I told her she has nothing to worry about. It's "only" antibiotic resistant TB or Ebola.

Edited by Burgerwars

Share this post


Link to post
Share on other sites

 

Update.

 

So, the reason I'm interested in this is mostly because my current employer will be sending me to our representative offices in Beijing and Shanghai once a month, and partly for the weird card factor. Also, because our corporate cards are private label FNBO Visas which are terrible.

 

So I unfroze EX and took the hit.

 

I'll hear back in 15 days. Not feeling too good about this.

Email them and ask about your application. Give them your name, DOB, and Drivers licence ID number and they can locate your application and will email you the status

cardinfo@icbc-us.com

BTW Online banking is possible, however its not the most convenient. I Had to wait a day until I Could enroll, and if you enter your password too many times you have to either go in branch and have them reset your account or wait 24 hours.

 

 

I sent them an email, so now the waiting game continues.

 

In the meantime, I signed up for the Ameriprise Amex Plat so I can get some free lounge access at my home airport (MIA) for the next year.

 

 

Thanks PotO. Long airplane flights are an absolute germ, virus, bacteria, etc., sharer. I'll recover. Some are more sucessible to stuff like this than others. An acquaintance of mine, who is a flight attendant, gets sick on long flights too. She now only gets assigned to shorter flights and does ok.

 

A co-worker of mine asked me what was wrong with me. I told her she has nothing to worry about. It's "only" antibiotic resistant TB or Ebola.

 

I'm getting over a nasty bug right now, not sure what it is, but it's the same one I tend to get when I fly longer than 6 hours.

Share this post


Link to post
Share on other sites

Reply received - they want my ID and 3 months financials, even though they already dinged me on EX.

 

I'm not entirely opposed to sending them my details, but the problem is I was unemployed 3 months ago, and only joined the employed in the past 6 weeks - so my financials wouldn't reflect my earnings.

 

Argh.

Share this post


Link to post
Share on other sites

Kind of want to apply for variety but my EX is about 25 points lower than the other two since nearly everyone hits them for me, and I'm more interested in looking for a branch prequal for CSR...

Share this post


Link to post
Share on other sites

 

Thanks PotO. Long airplane flights are an absolute germ, virus, bacteria, etc., sharer. I'll recover. Some are more sucessible to stuff like this than others. An acquaintance of mine, who is a flight attendant, gets sick on long flights too. She now only gets assigned to shorter flights and does ok.

 

I'm getting over a nasty bug right now, not sure what it is, but it's the same one I tend to get when I fly longer than 6 hours.

You guys need to keep your hands away from your eyes, nose and mouth.

 

And hydrate. You need 3-4L water/day and require +50% at altitude. Since equivalent effective cabin altitude is 5500-7500 AMSL, you need 2-3L on a trans-pacific flight.

Share this post


Link to post
Share on other sites

 

 

Thanks PotO. Long airplane flights are an absolute germ, virus, bacteria, etc., sharer. I'll recover. Some are more sucessible to stuff like this than others. An acquaintance of mine, who is a flight attendant, gets sick on long flights too. She now only gets assigned to shorter flights and does ok.

I'm getting over a nasty bug right now, not sure what it is, but it's the same one I tend to get when I fly longer than 6 hours.

You guys need to keep your hands away from your eyes, nose and mouth.

 

And hydrate. You need 3-4L water/day and require +50% at altitude. Since equivalent effective cabin altitude is 5500-7500 AMSL, you need 2-3L on a trans-pacific flight.

 

Thanks. I've tried trying to keep my hands off things, but it's difficult on very long flights. Many Japanese wear surgical masks while out and about, but I've yet to follow that idea. My next flight is next month, but it's only an hour flight up the coast to San Francisco. Next overseas flight won't be until sometime next year. I got time to buy a spacesuit, if that's what it takes. ;)

 

Also, if anyone has their UnionPay card yet, what credit limit did they issue? I'm curious. I'll post mine here and in CreditPulls, once I know.

Edited by Burgerwars

Share this post


Link to post
Share on other sites

My card arrived today. Also an $8,000 limit. In activating they asked me to set a six digit PIN, but informed me to only use the first four digits at places that don't accept six digit PINs. I also set up online banking. In browsing around, I didn't see a way of entering a non-ICBC bank to pay the bill. Since I don't have an ICBC Bank checking account, I'll need to mail in payments for this card.

Edited by Burgerwars

Share this post


Link to post
Share on other sites

My card arrived today. Also an $8,000 limit. In activating they asked me to set a six digit PIN, but informed me to only use the first four digits at places that don't accept six digit PINs. I also set up online banking. In browsing around, I didn't see a way of entering a non-ICBC bank to pay the bill. Since I don't have an ICBC Bank checking account, I'll need to mail in payments for this card.

Interesting about the PIN. All Chinese-issued cards have six-digit PINs. Using only the first four makes sense when on a four-digit network.

 

Can you push payment from your outside bank? Mailing in payments would be a pain.

Share this post


Link to post
Share on other sites

congrats Burgerwars and FrugalFinance! I am really trying to wait on this one but I am very tempted even with a low limit.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines