Offshore Banking FAQ

What is a difference between secured and unsecured offshore credit card?

Normally, all offshore credit cards should be secured as far as the offshore bank does not have access to credit history of all customers located in any country in the world. Credit reports is a normal method of issuing credit card in your onshore jurisdiction, but it can be very rarely done in the offshore bank. As the saying goes: “You don’t get what you don’t pay for”, normal practice in the offshore bank is that a customer receives business, gold or even platinum credit card only upon placing a substantial security deposit at the bank.