Credit Cards in DR

[domilinguist]

Hi,

I've had an account with BHD for three years and thought that life would become a little easier if I start using a Dominican credit card as opposed to the one I use from back home to pay telephone bills, cable, etc.

BHD is refusing to issue me with one. I have a perfect credit rating, earn a very decent salary here and have never been so much as much as overdrawn. I am now being told it's because my cédula number does not appear on their registry, which means they have no access to my credit history.

What can I do? Do I contact the Junta Central? Is there any way to get hold of a credit card through another branch?

I hope someone out there can help!

Thanks.

[Fabio J. Guzman]

There is something strange here.

How long have you been a resident? The way banks (and law firms) look at your credit history is through Credit Bureaus (for example, Data Credito). There you can search by cédula number or by name. Assuming you have been a resident for a while and that you have a credit history, you should show up.

[domilinguist]

Exactly! And I have been told by the bank I don't show up on the Data Crédito system.

I have been living legally in the country for three years on a work visa and but was given my cédula only three months ago. Maybe it's because I haven't had my cédula for very long but I have had an account with the bank ever since I've been in the country.

Is there anything I can do?

[Fabio J. Guzman]

You have no credit history because you just recently became a resident. The bank doesn't give you credit because you don't have a credit history. You should start building a credit history: cell phones? a more flexible bank?

[arturo]

It doesn't seem to be working out that way so far, does it? Wherever you are from, it's highly unlikely a Dominican bank will offer you an interest rate that is competitive with what you have now. Have you even asked them what the interest rate would be? When they tell you, make sure you confirm whether the rate you are quoted is monthly or annual - - it's customary to advertise monthly rates because the annual rates are too scary.

It's your choice but my advice is to think about potential benefits vs. frustrations of the sort you've already experienced.

[catcherintherye]

Ai Ai,
That is good advice. Simple, obvious, but an option not many of think of.

For some, the best way to go might be to just continue using their home country's credit card, the one they have been using for years.

Of course, they do have to keep certain accounts open back home, but many do that anyway.

[Criss Colon]

I was told the same thing many years ago. Finally I reached a bank officer who I could actually reason with,not just "Clerks" spouting "Boiler Plate" bank doctrine! I got a savings with an ATM card,and a credit card. Banco de Reservas.
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