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An Offshore Credit Card is a legitimate payment solution which provides many of the advantages and features of a regular credit card. Offshore institution-branded Visa and MasterCard Offshore Credit Cards now provide the same flexibility and convenience for the offshore investor as those issued by a regular 'onshore' Bank, with one key difference - an Offshore Credit Card requires a security deposit. The following information will help you determine whether an Offshore Credit Card meets your objectives.
Features of an Offshore Credit Card
1. An Offshore Credit Card normally carries the Visa or MasterCard brand, is issued by a reputable offshore bank and offers the same sort of flexibility and worldwide acceptance as an onshore card.
2. An Offshore Credit Card account provides a monthly statement.
3. The minimum payments on an Offshore Credit Card account can be made from an offshore bank account.
4. The Offshore Credit Card account includes full Internet facilities.
Differences between an Offshore Credit Card and Onshore Credit Card
1. Most Offshore Credit Cards are 'secured' i e the user puts down a security deposit with their card application so do not need to go through credit checks.
2. The Offshore Credit Card security deposit varies from Bank to Bank, but is typically 125% to 150% of the credit line requested. A typical minimum security deposit for an Offshore Credit Card is US$2,250. A typical maximum security deposit for an Offshore Credit Card is US$75,000.
3. To increase credit, the Offshore Credit Card user needs simply to increase the security bond by the appropriate amount.
Contact Us
For more information on our Offshore Credit Card services, please email email@healyconsultants.com or telephone us at (+65) 6735 0120.
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