How Can Foreign Teachers Get Credit Cards in Vietnam?

Yes, foreigners can obtain credit cards in Vietnam, but approval requires meeting stringent requirements: a valid Temporary Residence Card (TRC) with at least 12 consecutive months validity, minimum monthly income varying by bank (VND 4.5-40 million), and a Vietnamese bank account. According to HSBC Vietnam’s 2026 eligibility documentation, foreigners must also have 90 days minimum remaining on their residence permit from application date.

The process is significantly more challenging than for Vietnamese citizens due to Vietnam’s lack of international credit history integration. However, VPBank offers the most accessible option with lower income requirements starting from VND 4.5 million/month, while secured credit cards backed by fixed deposits provide alternative pathways for teachers on standard salaries.

What Are the Basic Requirements for Credit Card Applications?

Foreign applicants must satisfy four core requirements standardized across major Vietnamese banks.

According to BIDV’s 2026 credit card guidelines and HSBC Vietnam’s application requirements:

Long-Term Residency Documentation:

• Temporary Residence Card (TRC) valid for 12+ consecutive months from application date
• Work permit with minimum 6 months remaining validity
• Permanent Residence Card (for long-term residents)
• Minimum 90 days remaining residency from application date

Proof of Stable Income:

• Labor contract or employment letter
• Bank statements for last 3-6 months showing salary deposits
• Minimum monthly salary varies by bank: VND 4.5-40 million
• Salary must be transferred to Vietnamese bank account (same bank preferred)

Identification Documents:

• Valid passport (original and copy)
• Proof of current residential address: temporary residential registration, temporary residential confirmation (within 3 months), or KT3 form
• Recent passport photos

Credit History Verification:

• No Group 2 debts or bad debts in Vietnam’s Credit Information Center (CIC)
• No debts sold to Vietnam Asset Management Company (VAMC)
• Clean payment record required

Foreign teachers typically qualify if they have a 2-year teaching contract and receive salary transfers meeting the minimum threshold through a Vietnamese bank account.

Which Vietnamese Banks Issue Credit Cards to Foreigners?

Five major banks actively issue credit cards to foreign residents, with varying income requirements and approval accessibility.

VPBank (Most Accessible for Foreign Teachers)

Income Requirements (Lowest in Vietnam):

• Mastercard MC2: VND 4.5 million/month minimum
• StepUp & VPLady Cards: VND 7 million/month minimum
• Platinum & Vietnam Airlines Platinum: VND 15 million/month minimum

Residency Requirements:

• Foreigners residing and working in Vietnam
• Age: 22-60 years old
• Standard 12-month TRC validity requirement

Key Features:

• Lowest income barrier among major banks – ideal for entry-level foreign teachers
• MC2 Card: Credit limit VND 10-70 million, annual fee VND 299,000
• StepUp Card: Up to 5% cashback, annual fee VND 499,000 (waived if spending ≥VND 60M/year)
• VPLady Card: Credit limit up to VND 500 million, designed for women
• UnionPay Freeways Card: 0% foreign transaction fees in China, 1.5% elsewhere, 4% international cashback

Why VPBank for Foreign Teachers: VPBank’s VND 4.5 million minimum income makes it the most accessible option for foreign teachers earning VND 25-40 million/month. According to VPBank’s 2024 documentation, this is significantly lower than the VND 40 million requirement at HSBC, BIDV, and Vietcombank.

Contact: 1900 54 54 15 (Standard) / 1800 54 54 15 (Priority)

HSBC Vietnam

Income Requirements:

• Foreigners: VND 40 million/month minimum (strictly enforced)
• TravelOne Card: VND 15 million/month minimum
• Cash Back Card: VND 40 million for foreigners

Residency Requirements:

• 12 consecutive months TRC validity mandatory
• Must reside in eligible cities: Hanoi, Ho Chi Minh City, Dong Nai, Binh Duong, Long An, Da Nang, Hue, Hoi An, Ba Ria-Vung Tau, Tay Ninh, Bac Ninh, Vinh Phuc, Hung Yen, Hai Duong, Hai Phong

Key Features:

• TravelOne Card: 3× reward points for overseas spending, 2× for domestic travel, complimentary airport lounge access (4 visits/year)
• Cash Back Card: Cashback programs available
• LiveFree Card: No annual fee with spending conditions
• Annual fees: VND 1,200,000-1,500,000 (first year waived for new cardholders)

Contact: (84 28) 37 247 247 (Personal Banking) / (84 28) 37 247 666 (Premier)

BIDV

Income Requirements:

• Similar to HSBC for unsecured cards (VND 40 million/month)
• Secured credit card options available with collateral

Residency Requirements:

• Minimum 12 months valid residency
• At least 90 days remaining from application date

Collateral Options (Secured Cards):

• Savings passbooks at BIDV
• Real estate property with legal ownership documents
• Other valuable assets approved by bank

Key Features:

• Flexible secured card pathway for lower-income applicants
• Suitable for foreign teachers earning VND 25-39 million/month
• Credit limit typically equals deposit amount (1:1 ratio)
• State bank stability and extensive branch network

Contact: 1900 9247 (Personal) / (+84) 24 22200588 (International)

Vietcombank

Income Requirements:

• Standard unsecured cards: VND 40 million/month for foreigners
• Visa Signature (Priority customers): Higher income requirements

Residency Requirements:

• Foreigners residing in Vietnam for 12 months or more
• Valid entry visa/TRC/Permanent Residence Card
• Labour contract showing 12+ months duration

Key Features:

• Largest state-owned bank in Vietnam – highest stability
• Visa Signature: Insurance coverage up to VND 11.65 billion for cardholder and family
• Zero annual fee options for Priority customers
• Up to 50% dining discounts at selected restaurants
• Wide branch network across all 63 provinces

Contact: 1900 54 54 13 (Regular customers) / 1800 1565 (Priority customers)

Techcombank

Income Requirements:

• Standard unsecured cards require similar income to HSBC/BIDV
• Passbook mortgage option available (collateral-based)
• Vietnam Airlines co-branded card: Lotusmiles Titan cardholders (2+ months validity) exempt from income proof

Key Features:

• VietnamAirlines Techcombank Visa Platinum: Travel rewards and insurance
• Digital-first application process
• Accepts term deposits as collateral
• Strong digital banking platform

Contact: 1800 588 822 (Domestic) / +84 24 3944 6699 (International)

Recommendation for Foreign Teachers:

• Earning VND 25-40M/month: Start with VPBank MC2 or StepUp Card (easiest approval)
• Earning VND 40M+/month: HSBC TravelOne or Vietcombank for premium benefits
• Below income requirements: BIDV secured cards with collateral

How Do Income Requirements Compare Regionally?

Vietnam’s foreigner income requirements vary significantly by bank, with VPBank offering the most competitive threshold in Southeast Asia.

Regional Income Comparison Table

Country	Monthly Income (Foreigners)	Equivalent VND	Difficulty
Vietnam (VPBank)	VND 4.5 million	VND 4.5 million	Low-Medium
Vietnam (Others)	VND 40 million	VND 40 million	High
Thailand	THB 50,000-100,000	VND 36-73 million	Medium-High
Singapore	S$3,333-7,500/month	VND 61-138 million	Very High
Malaysia	RM 5,000/month	VND 27 million	Medium

Vietnam (2026):

• VPBank exception: VND 4.5M makes Vietnam most accessible
• Standard banks: VND 40M requirement excludes many foreign teachers
• 12-month residency strictly enforced across all banks
• Processing time: 2-3 weeks
• Secured card alternatives widely available

Thailand (2025-2026): According to ExpatDen Thailand March 2025:

• Work permit 6+ months minimum validity
• Income: THB 50,000-100,000/month (bank-dependent)
• Secured option: THB 100,000-200,000 fixed deposit
• Processing: 3 weeks

Singapore (2025): According to MoneySmart Singapore:

• Employment Pass/S Pass: S$40,000-90,000 annual income
• Permanent Residents: ~S$30,000/year assessment
• Processing: Few days to 1 week

Malaysia (2023): According to ExpatDen Malaysia:

• RM 60,000/year (~RM 5,000/month) standard
• Employment duration confirmation required
• Processing: 1-2 weeks

For English teachers earning VND 25-50 million/month, VPBank in Vietnam offers the easiest approval path in Southeast Asia.

How Do Secured Credit Cards Work?

Secured credit cards require fixed deposit collateral, bypassing strict income requirements. The deposit amount typically determines the credit limit at a 1:1 ratio.

According to BIDV’s 2026 documentation and banking regulations:

Deposit Mechanism:

• Open term deposit account with issuing bank
• Common deposits: VND 20-100 million
• Deposit remains locked during card validity
• Credit limit: 70%-100% of deposit value

Eligible Collateral:

1. Savings Passbooks (Most Common)
   • Must be at same bank
   • Minimum 12-month lock period
   • Cannot be withdrawn during card validity
2. Term Deposits
   • Minimum 3+ months term
   • Maintained for 4+ months recommended
   • Average balance: VND 20 million/month minimum
3. Real Estate
   • Legal ownership documents required
   • Bank valuation needed
   • Higher credit limits possible (VND 100+ million)

Advantages:

• No minimum income requirement (or significantly reduced)
• Faster approval: 1-2 weeks vs. 3 weeks for unsecured
• Builds Vietnamese credit history for future unsecured card transition
• Same benefits: interest-free periods, rewards programs, international acceptance

Example Application (BIDV): Foreign teacher earning VND 28 million/month:

1. Open VND 50 million term deposit at BIDV (12-month term)
2. Apply for secured credit card using passbook as collateral
3. Receive card with VND 50 million credit limit
4. Build credit history for 12-24 months
5. Transition to unsecured card with positive payment record

What Documents Are Required for Application?

Applications require three document categories. Missing documents result in automatic rejection.

Identification Documents:

• Valid passport (original + copy of information page)
• Work permit (6+ months validity) OR Temporary Residence Card (12+ months validity)
• Recent passport photos (2 copies)

Income Verification:

• Labor contract (minimum 12 months duration preferred)
• Salary slips for last 3-6 months (with employer stamp)
• Bank statements showing salary deposits (3-6 months)
• Income certification letter from employer

Residency Proof (Choose One):

• Temporary residential registration (within valid period)
• Temporary residential confirmation (within 3 months of issue)
• Rental agreement with landlord information
• Utility bills (within 3 months) showing name and address

Additional for Secured Cards:

• Legal ownership documents for collateral
• Original passbook from issuing bank (for savings passbook collateral)
• Deposit certificates with bank seal (for term deposits)

Application Timeline:

1. Document preparation: 1-2 days
2. Bank visit and form completion: 1-2 hours
3. Processing period: 2-3 weeks
4. Card collection: Within 15 working days from approval

Before applying for credit cards, foreign teachers should establish a Vietnamese banking relationship. Our guide on How to Open a Bank Account in Vietnam as a Foreign Teacher provides step-by-step instructions.

What Are the Fees and Interest Rates?

Credit card costs include annual fees, foreign transaction fees, cash advance charges, and interest rates varying by bank and card type.

Annual Fees Comparison

Bank	Card Type	Annual Fee	Waiver Conditions
VPBank	MC2	VND 299,000	None
VPBank	StepUp	VND 499,000	Spending ≥VND 60M/year
HSBC	TravelOne	VND 1,500,000	Year 1 waived
HSBC	LiveFree	VND 0	Always free
Vietcombank	Visa Signature	VND 0	Priority customers

Foreign Transaction Fees

Standard Charges:

• Foreign currency conversion: 1%-3% of transaction amount
• VPBank UnionPay: 0% in China, 1.5% elsewhere

Dynamic Currency Conversion (DCC):

• Always choose VND when merchants ask “Pay in USD or VND?”
• DCC adds 3%-5% markup beyond regular fees

Cash Advance Fees

Withdrawal Costs:

1. Cash advance fee: 3%-5% of withdrawal amount
2. ATM operator fees: VND 30,000-50,000
3. Immediate interest accrual: 16%-20% APR (compounds daily)

Recommendation: Use debit cards for cash withdrawals.

Interest Rates

Standard Terms:

• Annual Percentage Rate: 16%-20% typical
• Interest-free grace period: Up to 55 days (full payment required)
• Minimum payment: 3%-5% of statement balance

For managing international finances, our International Money Transfers in Vietnam: Complete Guide for Foreign Teachers covers cost-effective transfer methods.

What Legal Regulations Apply to Foreign Cardholders?

Foreign credit cardholders must comply with Vietnamese banking regulations issued by the State Bank of Vietnam.

State Bank of Vietnam Circulars (2018-2026)

According to Circular 48/2018/TT-NHNN and Circular 49/2018/TT-NHNN (effective July 2019):

Residency-Based Service Access:

• 180+ days residency: Eligible for term deposits
• 365+ days residency: Eligible for NAPAS cards and credit facilities
• Less than 180 days: Limited to basic transaction accounts

Credit Information Center (CIC) System: All credit card activity reported to centralized bureau:

• Payment history (on-time vs. late)
• Outstanding balances
• Debt classification (Group 1, 2, 3, 4, 5)
• Group 2+ debts = automatic rejection for new applications

Debt Classification:

• Group 1 (Standard): Payments on time or less than 10 days overdue
• Group 2 (Substandard): 11-90 days overdue (disqualifies from new credit)
• Group 3-5 (Bad Debt): 90+ days overdue (permanent credit damage)

Departure Considerations

Before Leaving Vietnam:

1. Pay off full outstanding balance
2. Cancel recurring charges
3. Submit written card cancellation request
4. Allow 30-45 days for final statement
5. Collect secured deposit release (if applicable)
6. Request written $0 balance confirmation

Unpaid Debt Consequences:

• Negative CIC reporting
• Potential legal action for debts exceeding VND 50 million
• Debt remains enforceable after departure
• May complicate future visa applications

How Can Foreign Teachers Optimize Credit Card Usage?

Payment Acceptance in Vietnam (2026)

According to Vietnam Original Travel 2025-2026 analysis:

High Acceptance (Major Cities):

• International hotels: 95%+ acceptance
• High-end restaurants: 90%+
• Shopping malls: 100%
• Supermarkets: 95%+

Limited/No Acceptance:

• Street food vendors: 0% (cash only)
• Local markets: 5%
• Small cafes: 10-20%
• Rural areas: 20%

Card Brand Hierarchy:

1. Visa: 95% of card-accepting merchants
2. Mastercard: 90%
3. JCB: 40%
4. American Express: 30%

Practical Strategy:

• Carry VND 1-2 million cash (small denominations)
• Use credit card for: rent, utilities, large purchases (VND 500,000+)
• Reserve cash for: food, transport, markets, tips

Security Best Practices

ATM Safety:

• Use ATMs inside bank branches or shopping malls only
• Cover keypad when entering PIN
• Check for skimming devices

Transaction Security:

• Never let card leave your sight
• Prefer contactless payment
• Enable SMS alerts for all transactions

Emergency Procedures

Lost/Stolen Card – Call Bank Hotline 24/7:

• VPBank: 1900 54 54 15
• HSBC: (84 28) 37 247 247
• BIDV: 1900 9247
• Vietcombank: 1900 54 54 13
• Techcombank: 1800 588 822

Replacement Timeline:

• Permanent replacement: 7-14 business days
• Fees: VND 200,000-500,000

Frequently Asked Questions

How long does credit card approval take?

Processing time is 2-3 weeks from application submission. VPBank typically processes faster (10-14 days) while HSBC and Vietcombank take the full 2-3 weeks. Secured card applications process faster (1-2 weeks).

Can I get a credit card with a 1-year teaching contract?

Yes, but your TRC must have 12+ months validity remaining from the application date. Teachers with 1-year contracts often face challenges because their TRC expires before meeting the 12-month requirement. Best strategy: Apply for a secured card in year 1, then transition to unsecured after contract renewal.

What happens if my application is rejected?

Common rejection reasons:

1. Insufficient income → Apply at VPBank (VND 4.5M minimum) or choose secured card
2. TRC validity <12 months → Wait until after TRC renewal
3. No credit history → Build history with secured card for 6-12 months
4. Incomplete documents → Verify all required documents before resubmission
5. Existing bad debt in CIC → Settle debts, wait 90 days

Rejection impact: Does not affect future applications after 90 days.

Can I have multiple credit cards from different banks?

Yes, foreigners can hold multiple credit cards. Having 2-3 cards is common and helps build stronger credit history. However, total credit limits across all banks will be evaluated in future applications.

Recommended strategy:

• Card 1: VPBank or secured card (build initial history)
• Card 2: HSBC or Vietcombank (after 6-12 months)
• Card 3: Specialized card (after 12+ months)

How do I build credit history in Vietnam as a foreigner?

Step-by-step strategy:

1. Months 0-6: Open Vietnamese bank account, maintain regular deposits
2. Month 6: Apply for secured credit card with VND 20-30M deposit
3. Months 6-18: Use card regularly, pay full balance monthly
4. Month 18: Apply for unsecured card (VPBank MC2 or HSBC)
5. Months 18-24: Maintain both cards, build longer history

Key principles:

• Always pay full balance to avoid 16-20% interest
• Never miss minimum payment
• Keep credit utilization below 30%
• Maintain cards for 12+ months before canceling

Do Vietnamese credit cards work internationally?

Yes, all Visa and Mastercard credit cards work globally at 30+ million merchants. However, foreign transaction fees apply:

• Standard cards: 1-3% per transaction
• VPBank UnionPay: 0% in China, 1.5% elsewhere
• Best for international use: VPBank UnionPay or HSBC TravelOne

Can I transfer my international credit history to Vietnam?

No, Vietnam does not recognize international credit histories. Credit bureaus in Vietnam (CIC) operate independently from international systems. Foreign teachers must build Vietnamese credit history from zero.

This is why secured cards are recommended – they allow foreigners to establish credit history without relying on international records.

What is the maximum credit limit I can get?

Credit limits vary by income and card type:

• VPBank MC2: VND 10-70 million
• VPBank VPLady: Up to VND 500 million
• HSBC TravelOne: VND 50-200 million
• Vietcombank Signature: VND 100-500 million
• Secured cards: 70-100% of deposit amount

Limit increases: After 6-12 months of positive payment history, banks typically offer 20-30% credit limit increases.

Should I keep my home country credit card?

Best strategy: Keep both. Use Vietnamese card for local VND transactions (saves 3% foreign transaction fees), and keep home country card for:

1. Emergency backup
2. International travel (better rewards)
3. Maintaining home country credit history
4. Online shopping on international websites

How do I cancel before leaving Vietnam?

Cancellation process (start 60 days before departure):

1. Day 60: Stop recurring charges
2. Day 45: Pay off entire balance
3. Day 30: Visit branch, submit written cancellation
4. Day 15: Confirm $0 balance, request closure letter
5. Day 0: Collect secured deposit release, destroy card

Critical: Banks require 30-45 days to process cancellation. Do not leave Vietnam with outstanding balance.

Obtaining credit cards in Vietnam as a foreigner requires strategic planning and understanding of bank-specific requirements. While traditional barriers are high, foreign teachers have accessible pathways through VPBank’s lower income threshold (VND 4.5M) and secured card alternatives.

Browse our Daily Living Essentials category for comprehensive guides on housing, transportation, healthcare, utilities, and legal requirements for foreign teachers in Vietnam.