Getting a credit card isn’t as difficult as you might think
Nowadays credit card has become an indispensable financial instrument of our daily life. Not only it is a must-have when it comes to online shopping, it is also increasingly used in the fintech world—all begins with linking your credit card to a digital wallet embedded in your smartphone. However, as you are not yet a permanent resident, you may need to provide a bit more documentation than a local permanent resident.
Basic requirements to get a credit card
Be at least 18 years old. Other than that, the applicant is required to submit his or her Hong Kong Identity Card or passport and income proof, ideally the immediate past month’s pay slip or bank statements showing your name, account number and salary entries.
For irregular income earners, you should provide the latest three months’ income proof. If you’re self-employed, a partner in a business or a shareholder of a company, your Business Registration Certificate and latest Tax Demand Note are also required. Alternatively, you may opt to provide asset proof to replace the Tax Demand Note to support your application.
The income or amount of assets you report is one of the many factors that the bank will use to judge if your application is approved, and how much credit limit it is willing to extend to you.
Don’t forget to enclose a residential address proof. The most easily obtainable proof should be your utility bill, or a statement by another authorised financial institution in Hong Kong, such as a bank or an insurance company, issued within the past three months, etc.
Expat applicant additional requirements
If you are an expat, you may also need to provide a valid work visa or have deposits parked at Standard Chartered as a pledge on credits .
If you wish to apply for a higher credit limit, you may provide your latest income proof in your application. Also, if you pay off your card every month on time and keep other debts low, you might get higher credit scores and earn the chance to be granted a higher credit limit.
There are different types of credit cards you can choose from, each offering different rewards for your card spending to suit your lifestyle—such as earning rewards points, mileage or CashBack.
For more information, please visit our website: http://bit.ly/2BDibCq
 The amount of deposits required is subject to the type of credit card being applied for.