US Funds Only?

[synclastica_86]

I've been getting pissed over this for years already. I am a student studying in the states. My parents are from Hong Kong. As a student, the majority of my spending is funded by my parents. They gave me a wallet full of supplementary credit cards and takes care of the statements. Other than that I'm near penniless. Here's the problem, many US websites only accepts cards issued by US banks. I even went as far as telling the bank in Hong Kong to change my official address to my house in PA. That still didn't work. I-tunes, Ralph Lauren, amazon music... nothing works. I love shopping online. It just seem so easy... click and the goodies just shows up on your door step a few days later. Why won't some companies accepts non-US funds? I understand why some companies won't ship internationally... but I'm not asking them to. They are just shipping to my US address.

This is even more bizarre. A few months ago my wife got a sony vaio with my Hong Kong card online. At first they called and said that the address didn't match and said that they only accept US funds. My wife was upset so I called sony and asked for the manager. After a short conversation, the manager said that she will make an exception for me. So they can indeed accept non-US funds. I just don't get why they won't.

[taliesen]

I'm guessing it has to due with trying to limit credit card fraud . . . our financial institutions are decidedly jingoistic, and probably feel like the likelihood of the card being stolen/fake/etc is greater if the card isn't US issued. Plus, some web vendors, especially the higher-ticket ones, won't ship to anything but the billing address for the same reason.

[Seminole]

Originally Posted by taliesen

I'm guessing it has to due with trying to limit credit card fraud . . . our financial institutions are decidedly jingoistic, and probably feel like the likelihood of the card being stolen/fake/etc is greater if the card isn't US issued. Plus, some web vendors, especially the higher-ticket ones, won't ship to anything but the billing address for the same reason.

+1

Many places would have the decreased business from not taking overseas cards than dealing with the potential fraud implications. Why not just open a card for a US issuer and have your parents take care of it?

[Feyd]

I guess that sucks, but why don't you get a US based credit card?

[YellowFinger]

hey there! i'm from HK too... something doesn't seem right...

you have a wife and you are still living off your parents CCs ?

[synclastica_86]

Originally Posted by taliesen

I'm guessing it has to due with trying to limit credit card fraud . . . our financial institutions are decidedly jingoistic, and probably feel like the likelihood of the card being stolen/fake/etc is greater if the card isn't US issued. Plus, some web vendors, especially the higher-ticket ones, won't ship to anything but the billing address for the same reason.

But I am having them ship to the billing address (I had one bank in Hong Kong change my billing address to my US address). And I don't see what the fraud risk is, I mean... if someone got my card they wouldn't be able to provide my address anyways. Also, once the payment goes through, they'll get paid regardless right?

Originally Posted by Seminole

Many places would have the decreased business from not taking overseas cards than dealing with the potential fraud implications. Why not just open a card for a US issuer and have your parents take care of it?

Originally Posted by Feyd

I guess that sucks, but why don't you get a US based credit card?

I can as I student, I actually did tried once, but the limit they gave ridiculously small. $500 at first then I called them to up it $1000, but that's all they are willing to give me since I have no credit. Also, statements get mailed to me and I always forget to pay them. I am bad at these things... I hardly even bother check my mail box.

Originally Posted by YellowFinger

hey there! i'm from HK too... something doesn't seem right...

you have a wife and you are still living off your parents CCs ?

Well... I can see why that doesn't sound right. But I just love school. I'm probably gonna stay in school all my life. I'm a physics major; therefore, I probably won't get hired unless I have my PhD. I tried working a few jobs for fun. I was a Prof assistance and worked a few summer jobs while I was in HK. I do enjoy working... actually I like it a lot... it gives me time to relax and take time away from physics, but no job that would hire me would be able to support my current lifestyle. My plan is to keep studying at least until both my wife and I get our 1st PhD. Then our wages would maintain a decent lifestyle for us.

[SoYank]

Originally Posted by synclastica_86

I can as I student, I actually did tried once, but the limit they gave ridiculously small. $500 at first then I called them to up it $1000, but that's all they are willing to give me since I have no credit. Also, statements get mailed to me and I always forget to pay them. I am bad at these things... I hardly even bother check my mail box.

I think these go hand-in-hand, don't you?

[synclastica_86]

Originally Posted by SoYank

I think these go hand-in-hand, don't you?

Well... by no credit I don't mean bad credit. I have never actually forget to pay a credit card bill, but I knowing that I am most likely to forget, I've avoid using my own cards totally. Correct me if I'm wrong, but if I haven't purchase anything on credit or haven't finance anything, it means I have no credit at all right? My parents got me my cars and paid cash for it. I've never made any payments ever. This got me thinking, do I need to intentionally borrow money or finance something just to start getting credit?

[SantaPimp27]

how do you have an m3 and a s550 if you have no credit and your penniless?

[synclastica_86]

Originally Posted by SantaPimp27

how do you have an m3 and a s550 if you have no credit and your penniless?

Gifts from parents. My dad got kindda overly excited when I got into college and got me the s550. I did ask for the M3 but never thought he would actually get it.

[E90SLAM]

Originally Posted by synclastica_86

Well... by no credit I don't mean bad credit. I have never actually forget to pay a credit card bill, but I knowing that I am most likely to forget, I've avoid using my own cards totally. Correct me if I'm wrong, but if I haven't purchase anything on credit or haven't finance anything, it means I have no credit at all right? My parents got me my cars and paid cash for it. I've never made any payments ever. This got me thinking, do I need to intentionally borrow money or finance something just to start getting credit?

Then you just leave the responsibility to your parents?
just wondering....

[jaiman]

Originally Posted by synclastica_86

no job that would hire me would be able to support my current lifestyle. My plan is to keep studying at least until both my wife and I get our 1st PhD. Then our wages would maintain a decent lifestyle for us.

I'm not going to pick on you, but for everybody on the forum who has kids, here is the textbook example of why giving your kid everything they ask for is a bad idea. This guy is driving an S class and M3 and believes that that standard of living should be his minimum. He has no concept of how most people need to work hard, live in a crappy place, drive crappy cars for a while before they get to have all this stuff. He has been spoiled, in the truest sense of the word.

[johnnymu]

I've never flames anyone on this forum but for whatever reason your thread has pressed a nerve, you sir are pathetic. Get your own life, not your parent's!

[e90fanatic]

lol...wife, and still a student. im from hk too so maybe i can give you my .02.

Why would they not allow non-US cards to pay for most things online? Fraud! lol...Get a SSN and get your own CC.

[synclastica_86]

Originally Posted by johnnymu

I've never flames anyone on this forum but for whatever reason your thread has pressed a nerve, you sir are pathetic. Get your own life, not your parent's!

Chill man... I really don't have interest in job that hire at an undergrad level. I'm rather good at math and physics and do rather well (gpa 4.0). I'm on track to a decent grad school and getting plenty of research opportunities. Am I just suppose to leave this all behind and just get a dead end job? What good will that do? And if my parents can afford it, what's wrong with accepting their support? I'm not saying that I'll just live off them and be a bum, and I do understand that the fruit of hard work is the sweetest, but I'd much rather ponder about physics than about how to earn my first million. Life's short... I'd rather enjoy every moment of it instead of waiting for my own financial success.

[SantaPimp27]

where you going to school?

[SoYank]

Originally Posted by synclastica_86

Well... by no credit I don't mean bad credit. I have never actually forget to pay a credit card bill, but I knowing that I am most likely to forget, I've avoid using my own cards totally. Correct me if I'm wrong, but if I haven't purchase anything on credit or haven't finance anything, it means I have no credit at all right? My parents got me my cars and paid cash for it. I've never made any payments ever. This got me thinking, do I need to intentionally borrow money or finance something just to start getting credit?

Yes. You need to establish a credit history. Think about it as baby steps. Take one of those low limit cards and use it once a month for something small but then pay it off fully each month. Don't max it out and never be even a single day late in paying the statement. If your due date is, say, the 20th, ensure you have the payment posted by the 10th; it's not called snail mail for no reason. Better yet, post the payment the day the bill arrives. Get into that habit and it becomes second nature.

Another option for you -- I'm not sure exactly how this works, though -- is to get a prepaid dollar VISA card. It works something like a pay-as-you-go phone card that you can 'top up'. You can not go above the amount that is on the card but at least you'd have a way to pay for things online like you are wanting. What I'm not sure about is whether your parents in HK will be able to top it up for you but it's something you might want to check out

[dgliango]

Apply for credit cards with whatever limit. Then link the credit card to a bank account in HK that has money in it. Setup the autopay feature online and you will never miss a payment, continue using your credit card until you have established some credit. Then you can apply for an American express card or something that doesn't have a limit on it and do the same thing.

[lauer87]

Wow...

[petener999]

Are you the only child?