Buzz
Credit cards are a boon for financial transactions, prompting a widespread eagerness to learn about obtaining them from Vietnamese banks. The process and prerequisites vary across banks, necessitating a careful review to comprehend the exact requirements for the bank where you wish to apply.
What is a Credit Card?
A credit card enables users to spend now and pay later. Depending on an individual's financial proof, banks offer a specific spending limit. This limit is used for payments towards purchases and dining where card payment is accepted. No interest is charged by banks if the borrowed amount is repaid within 45 days; beyond that, interest is incurred at the bank's rate.
2. Requirements for opening a credit card in Vietnamese banks
Stable income is necessary: Choose a bank that suits your financial status based on their minimum financial requirement for card issuance. It's crucial to have a stable income to ensure you can repay the credit used from the bank.
Residency near the bank issuing the card is required: Banks mandate that cardholders must have a permanent residence where the bank has a branch or possess a KT3 for individuals from other provinces.
Credit reputation: Must have no bad debt or outstanding credit card balances to apply.
3. Procedures for opening a credit card at Vietnamese banks
This article outlines the procedures for opening a credit card at Vietnamese banks, providing options for users to consider and choose from.
a. Procedures for opening a credit card at Vietinbank
Card opening conditions:
Individuals aged 18 and above with full legal capacity.
Employment at state-owned institutions.
A minimum monthly income of 2,500,000 VND.
More than two years of work experience.
Procedures for opening a credit card at Vietinbank:
Credit card application and agreement form (standard template).
Identity documents: ID card, passport, temporary residence booklet.
Financial capability proof documents.
b. Procedures for opening a credit card at Vietcombank
Vietcombank credit card opening conditions:
Vietnamese citizens currently working and residing in Vietnam.
Aged 18 and older.
Assets ensuring an income of over 5 million VND.
Procedures for opening a credit card at Vietcombank:
Vietcombank credit card issuance request form and agreement.
Photocopy of both sides of the ID card or passport.
Copy of a valid Visa for foreigners residing in Vietnam.
Income proof documents.
c. Procedures for opening a credit card at BIDV
BIDV credit card opening conditions:
Vietnamese individuals aged 18 and above.
BIDV Visa Flexi, Vietravel MasterCard: Minimum income requirement of 2 million VND/month. Priority for civil servants.
BIDV Visa MU, BIDV Visa Precious: Minimum income requirement of 4 million VND/month.
MasterCard Platinum, Visa Platinum, BIDV Vietravel MasterCard Platinum: Minimum monthly income of 20 million VND.
BIDV credit card application process:
Copy of ID card, permanent residence book or KT3 (for Vietnamese), passport, and valid residence visa (for foreigners).
Financial proof documents relevant to each card type.
Overall, the process and requirements for opening credit cards at Vietnamese banks are quite similar, involving age, income level, and specific borrower criteria. For detailed information on how to open a credit card at Vietnamese banks, visit the official bank websites or seek advice from bank staff for the best choice. Additionally, explore Debit cards, their benefits, and operations by reading articles on Mytour.
