How does an offshore credit card work?
– In a great many cases, an offshore card can usually be applied for at the same time that the account is opened. The majority can be used both to withdraw money from ATM machines worldwide and to pay merchants, in much the same way as an onshore card. Where onshore and offshore cards differ, however, is that the latter are, for the most part secured’, which means that you are required to provide a security deposit with your application, and you do not have to undergo a credit check. The deposit required depends upon the desired credit line, but as a general rule, usually ranges from between 125% to 200% of the credit line requested. Many cards offer additional benefits such as insurance, and card/cash replacement.
– In a great many cases, an offshore card can usually be applied for at the same time that the account is opened. The majority can be used both to withdraw money from ATM machines worldwide and to pay merchants, in much the same way as an onshore card. Where onshore and offshore cards differ, however, is that the latter are, for the most part ‘secured’, which means that you are required to provide a security deposit with your application, and you do not have to undergo a credit check. The deposit required depends upon the desired credit line, but as a general rule, usually ranges from between 125% to 200% of the credit line requested. Many cards offer additional benefits such as insurance, and card/cash replacement.
