Features of an Offshore Credit Card

In modern times the usual offshore investor has been allowed the ease of a credit card. In anticipation of that time, individuals with offshore bank accounts had to pull out cash from their bank accounts or have money wired to them. The advent of the offshore credit card has taken care of this dilemma. Now offshore institutions offer Visa or MasterCard credit cards and can grant their investors more flexibility and convenience.

They make available all the features of a normal credit card and are accepted at many locations around the world. Features include: insurance, car rentals, cash replacements, long distance calling cards, and cash advances. Like conservative credit cards, an offshore credit card provides investors with a monthly report and Internet access to their account. Likewise they also need bare minimum payment and can carry a balance forward to the following calendar month.

There are still significant differences involving an offshore credit card and a domestic card. Most genuine offshore institutions offer secured cards, meaning they require investors to put down a security deposit along with their application. Because of this they do not necessitate a credit check. To increase a credit line, investors would have to likewise enlarge their security deposit by dollar draft or money wiring. Because of this reason, an offshore credit card is not a usual credit card. It is a line of credit secured with the investor's own moveable money. Most companies, aware of the differences, refer to their product as an "offshore credit card with benefits of a Visa or MasterCard."

It can't be help that offshore banks and institutions are usually coupled with islands, foreign locations, and even unlawful activity such as underground economy, organized crime, tax evasion and money laundering. Following 9-11, much more regulation began to fall on international finance.

Usually what is required when applying is a security deposit, a completed application form, a trust agreement with a personal security code, a notarized form of identification (usually a driver's license with a current address), a passport, some form of address confirmation like a utility bill, and a reference letter from your bank, lawyer or accountant.

These credit cards are not right for everyone. There is no usual type of person that is an offshore credit card holder. Traveling individuals, corporate entities, and people with special circumstances that require international financing, have all signed up for one. If international finance is a necessity in your business then an offshore credit card might be a good investment.
In modern times the usual offshore investor has been allowed the ease of a credit card. In anticipation of that time, individuals with offshore bank accounts had to pull out cash from their bank accounts or have money wired to them. The advent of the offshore credit card has taken care of this dilemma. Now offshore institutions offer Visa or MasterCard credit cards and can grant their investors more flexibility and convenience.

Bobbie McKee provides a complete list of the latest credit card offers. Find a Online Citibank Low Interest Rate Credit Card Application and choose from over 130 credit card offers.


Article Source: http://www.eArticlesOnline.com here.