I ran across this while looking at the JCB credit card site. JCB has a secured credit card. For those of you who don't know JCB is the "AMEX" of Japan. They are very international however, and frankly very prestigious, since getting a card from the "Conservative" Japanesse is a mark of worthyness. The card can be used with Airlines, many major dept. Stores, and Hotels. http://www.jcbusa.com/cardsecured.htm
Re: NEW JCB SECURED CREDIT CAR Do yo pay in JAP Yens or US$? Where should you send the payments Japan Or USA?
Re: NEW JCB SECURED CREDIT CAR I am right now in Europe so I can't call them, maybe you, or someone else could get the details like minimum deposit etc. I am fairly sure it would, but that's just my instinct speaking.
Re: NEW JCB SECURED CREDIT CAR JCB is not accepted widely like Visa, MasterCard, Discover and Amex and I think only they accepted in a few places like Sears. The JCB cards usually accepted in Japanese places and stores in Little Tokyo in L.A. I don't find too much useful and I don't know they report credit to credit bureaus. The JCB Cards just like another Diner's Club.
Re: NEW JCB SECURED CREDIT CAR Ron, your right that it is like Diners Club, acepted at few places but it is another option for people who want to establish credit. As for being reported call them and find out. I will say that JCB is expanding rapidly in both the US and other countries outside of Japan, and most hotels, and airlines take it. Actually with it not being accepted much may be a blessing to some, so they don't get in over thier heads!
Re: NEW JCB SECURED CREDIT CAR The card requires a $500.00 deposit or more and you have to apply for regular "unsecure" standard card and if you get turned down then you can be consider for secure card,but you are not guaranteed a secure card,it depends on your credit report.$500.00 is a bit to tie-up in a card you don't know that you will get and no telling how long it will take to get back if you are not accepted for secure card.
I just called.... .....to see what the deal was (for employees here at my job that travel to Japan and can't get the Corp. Am/Ex card) and this is a revolving card (not charge) and basically you have to call or email for an application for their regular card and if you don't meet those requirements, then they will offer you their secured card (min. deposit is $500 and APR is 18%). I didn't ask if it reported to the CRA's or not. I did request a few applications for some people here at my job. I'll find out more and report back at a later date.
I have the Northwest JCB Card Hi everyone, I have the Northwest Airlines WorldPerks JCB card. They approved me for an unsecured card last year (the last year of my bankruptcy). It's true that it's not widely accepted here in the US, but many many internet sites take it (Amazon, Barnes & Noble, LLBean) and retail stores like Gap, Banana Republic, Kmart, Sears. Almost all airlines and all car rental places accept the JCB card and so does the Hard Rock, and Planet Hollywood restaurants. They also report to all credit bureaus and thier customer service is first rate. I get one mile in the Northwest Airlines program for every dollar I spend. The US division is based in Los Angeles, and yes you pay in US dollars. Thier interest rate is an acceptable 18% (annual fee is waived for the first year- and they will waive it in subsequent years if you have at least 6 transactions/yr, otherwise it's $20/yr). There is a rumor that they will sell out to American Express, and they are working together to get all Amex merchants to also accept the JCB card here in the US so the merchant acceptability will go up soon I hope. Check out the press release at: http://home3.americanexpress.com/corp/latestnews/jcb.asp Since they are so small in the US, I have a feeling they might sell out to AMEX soon anyway, and become another AMEX card. I hope this helps!
Re: I have the Northwest JCB C ...Diners is _much_ more widely accepted than JCB (4,000,000 merchants and counting). In fact - I've found that it's easier to use Diners in Brazil and Israel than Visa! For the US - it's a great business travel card (airlines, hotels, dining (duh), car rental, limo, theater, etc.) that also works at places I need for business use (CompUSA, PCMall, buy.com, Outpost.com, etc.). Diners also offers -BY FAR- the best rewards program (miles on every airline or hotel program on the planet) and customer service that (sorry Jason) even exceeds the atmospheric high standards of Amex. It also didn't hurt that they were willing to work with me and approve an account a little under 1 year post-BK. That was a good move on their part - in 5 years I've given them a little over $350,000 in business (I travel a lot for work).
--clarification well, I'll be damned. Out of curiosity (this is really sad!) I took a look ... lo and behold, Kmart and Sears take JCB (as well as Nieman Marcus, Saks, etc.). Go figure. Also a correction - Diners is accepted at >5 Million places.
Great Info Guys Thanks for the positive updates guys. Looks like the card could have some possibilities, especialy if AMEX buys it out!!
