Credit cards for temporary residents? Building credit history?

buzz

Registered
I received my DNI not too long ago. Recently, I went to get a credit card with Santander however they advised that they do not issue credit cards to people with temporary residence (as detailed on the back of my DNI). I am not eligible for permanent residence yet.

Both Reba and Naranja came back as not being able to offer me their credit cards, I am assuming because I have no credit history.

How do you get a credit card as a temporary resident?
Are there any banks that issue credit cards to temporary residents with or without credit history and/or a secured credit card?
What's the easy way to build credit history here? Some type of insurance or mobile plan?

To obtain a credit file in Argentina is any registration required with any company like Veraz/Equifax?

Surely another other person who has immigrated to Argentina has faced this issue.
 

lunar

Registered
You can try also to get Cencosud Mastercard. They print on checks from Disco that they give it to everyone, if I am not mistaken. Or may be it was a directed ad.

But assuming you already have credit cards from some other country, why would you even need a local credit card or local line of credit in general?
 
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antipodean

Registered
I received my DNI not too long ago. Recently, I went to get a credit card with Santander however they advised that they do not issue credit cards to people with temporary residence (as detailed on the back of my DNI). I am not eligible for permanent residence yet.

Both Reba and Naranja came back as not being able to offer me their credit cards, I am assuming because I have no credit history.

How do you get a credit card as a temporary resident?
Are there any banks that issue credit cards to temporary residents with or without credit history and/or a secured credit card?
What's the easy way to build credit history here? Some type of insurance or mobile plan?

To obtain a credit file in Argentina is any registration required with any company like Veraz/Equifax?

Surely another other person who has immigrated to Argentina has faced this issue.
From my own experience and contacts at various banks: Hard if not imposible without knowing someone / investing a huge amount at a bank to make an exception. Even then they will need to see your pay slips or Argentine tax returns to prove solvency. Foreign documents count for nothing unless the money is declared in Argentine on an AFIP return or at least remitted to Argentina and recorded by an Argentine accountant and escribano on a statement of income.

Apparently there is some vague/ implied BCRA rule that temporary residents can’t have access to consumer credit so most banks don’t dare. Banco la Nación takes it even further and their security guards often won’t even let temps in the door to even speak to someone about opening an account there! (They literally told me at three different branches to come back after 3 years once permanent as temp foreigners are forbidden from opening an account - this was a few years back mind you)

That said Wilobank DO send you a mastercard credit card - but good luck getting a limit beyond a few hundred pesos as a temp. Perhaps someone else here succeeded in making it useful?

Also MercadoPago will give temps a small credit line to pay in installments using MercadoLibre.
All depends on the income and employment status linked to your CUIL I suppose - which financial institutions cross check and have access to - if you’re not here working or earning en-blanco, it may be even more difficult to get if not.

Another important thing to consider is that now days the government are cracking down on access to dollars. To open a NEW dollar account (or buy or sell dollars officially) you need a Certificado Negativo from ANSES that says you have made your tax returns and have not received any form of subsidy, never refinanced consumer credit or exceeded your dollar limits or committed some other public financial transgression. You can check online at ANSES but it must actually say in big red letters “unable to emit certificate” on the certificate (logic go figure...) For this reason there are understood to be less than 400.000 people in Argentina who can actually get this certificate and thus buy dollars or open new USD accounts. This impacts eligibility for any Bundled product that includes USD accounts by default, such a premium and private banking packages.
 

dilmah

Registered
That said Wilobank DO send you a mastercard credit card
I opened an account at wilobank a few months back. I am perm. resident, not even temp.
I applied for credit card with them but all they gave me was a debit card tied to my checking account.


I've heard that HSBC can transfer your credit internationally.
So if you have an account at US HSBC and US credit score then HSBC Argentina might give you a credit card in Argentina.
 

dilmah

Registered
But assuming you already have credit cards from some other country, why would you even need a local credit card or local line of credit in general?
You never know how local credit history might help further down the road.
May be one wants to take Argentine mortgage at some point?
Maybe landlords use local credit history to offer lower prices?
 

Stantucker

Registered
The only way I know to get a credit card from a brick and mortar bank here is if you have some form of income, be it from a pay check here or something like social security from the States. With a regular source of income it doesn't matter that you have only temporary residency. When my wife started to have her SS checks sent here, Banco Macro gave us a credit card; we had only temporary residence at the time.
 

antipodean

Registered
The only way I know to get a credit card from a brick and mortar bank here is if you have some form of income, be it from a pay check here or something like social security from the States. With a regular source of income it doesn't matter that you have only temporary residency. When my wife started to have her SS checks sent here, Banco Macro gave us a credit card; we had only temporary residence at the time.
Curious to know how long ago that was if you don’t mind sharing?

In my case my income includes an Argentine paycheck. It didn’t matter until Permanent, according to most banks I spoke to.
 

Stantucker

Registered
Curious to know how long ago that was if you don’t mind sharing?

In my case my income includes an Argentine paycheck. It didn’t matter until Permanent, according to most banks I spoke to.
You may be right; I may have spoken without knowing the current situation or what may have been something done only by Banco Macro at the time for those sending their SS checks here. That was in 2017.
 

antipodean

Registered
Good to know and worth checking out for sure! If I recall Macro had/ has a banking product for rentista visa holders that made it quite unique.
 
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