Credit Card Loan for Foreigners

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Credit Card Loan for Foreigners in Japan

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Credit Card Loan for Foreigners in Japan

Credit Card Loan for Foreigners in Japan

There are mainly two costs required for a foreigner to live in Japan: fixed and variable costs. Fixed costs are stable fees for each month, such as rent and insurance. On the other hand, variable costs fluctuate depending on the monthly living situations, such as food and entertainment expenses. Although you can predict fixed costs for making a budget, variable costs are unpredicted. For example, you have to pay a large amount of money due to any events, such as moving, travel, ceremonial occasions, and so on. It causes a lack of cash and account balance.

When you suddenly need a large amount of cash, a credit card loan is one of the best choices. If you pass the screening, you can easily borrow money from a bank or a convenience store ATM. (*Some credit card loans provide a service that transfers money to a designated bank account.) Once passed the screening, even foreigners can easily borrow money because they do not require any guarantor or collateral.

Various organizations such as banks, credit unions, and consumer finance provide card loan services. Within these services, you need to choose a credit card loan that suits your lifestyle. When you use it, you must carefully check the borrowing interest rate, application conditions, screening speed, repayment mechanism, reliability of the issuer, and so on. However, if you rely too much on a credit card loan, you will be overwhelmed by repayment, which may adversely affect your work and life. To avoid the situation, you should make a solid repayment plan and use the card loan systematically.

Even if you apply for a credit card loan and pass the screening, you do not have to use it immediately. In preparation for high expenses in the future, you can apply for a credit card loan screening. After passing it, you can borrow money anytime at a low-interest rate when you suddenly need money such as moving, wedding, overseas travel. (*Even if borrowing is a condition, you can make a card without paying any interest as receiving a loan of tens of thousands of yen and repay it on the same day.) In other words, even if you don't need it immediately, you can apply and keep it in case of emergency.

This article carefully selects information on credit card loans for foreigners. We will introduce credit card loans not only for permanent residences but also for non-permanent residences. In addition, we will explain the types of credit card loans and the screening criteria for foreigners. If you consider applying for a Japanese credit card loan, please refer to this page and compare the services thoroughly and choose the best one for yourself.

SMBC Consumer Finance "Promise" is available for foreigners without permanent residency!

SMBC Consumer Finance, a member of the SMBC Group, provides this card loan service. In addition to low borrowing interest rates, it offers same-day loans in as little as 3 minutes by applying online. (*1)It also accepts applications from foreigners. The possibility of lost cards is low because you can complete all processes online. Moreover, it is well known for its quick loan speed. The interest rates are 4.5% to 17.8%, and the maximum available amount is up to 5 million yen. First-time customers can borrow without interest for 30 days from the next day of the first use. Registration of the e-mail address and web statement is necessary for the promotion.
Borrowing and repayment are commission-free with SMBC or Promise ATM at any time. Seven Bank, Lawson Bank, and E-Net ATMs are also available. Income proof and guarantor/collaterals are unnecessary if the loan is less than ¥500,000. Having a residence card, foreigners without permanent residency in Japan can also apply. For foreigners considering taking out a card loan, Promise is one of the worthful services.
Many of the reasons for the rejection of Promise card loan applications are due to incomplete application or input mistake. Annual income must always be stated in terms of face value (* entering net income may be considered as providing false information). Additionally, entering a personal mobile phone number in the workplace phone number field is not permitted. For temporary staff, the workplace should be listed as the temp agency, not the company where they are assigned. Keeping the desired loan amount as low as possible when applying can make it easier to pass the review process. Input mistake or providing false information can lead to rejection, so be careful when applying for a Promise card loan.
*1 Depending on the specific circumstances of the application, cannot guarantee that it will be approved through the review process.

Interest rates 4.5% to 17.8%
Maximum loan amount Up to 5 million yen
Repayment method Sliding balance principal-interest fixed repayment method
The monthly repayment amount fluctuates depending on the final loan balance.
Early repayment Possible
Required statements
  • 18 to 74 years old (*High school and technical college students are not eligible to apply. If you are under 19 years old, you must submit income proof.)
  • Reside in Japan
  • Stable income (*If you only have a pension as your income, you can not apply.)
  • Having resident status (residence card or special permanent resident certificate)
Required documents for application Under 500,000 yen Valid residence card or special permanent resident certificate
over 500,000 yen Valid residence card or special permanent resident certificate, plus one of the following: tax notice, income certificate, final tax return, pay statement, etc.
Additional notable points
  • Foreigners who do not have permanent resident status may also apply if they have resident status.
  • If you sign up online, you can get a loan in as little as 3 minutes. *Depending on the specific circumstances of the application, cannot guarantee that it will be approved through the review process.
  • First-time users are charged no interest for 30 days. Registration for an e-mail address and use of web statements is required.
  • Only identification documents are required to apply if the loan amount is less than 500,000 yen.
  • As of September 2024 (contents may have changed).

Visit Aiful Card Loan (in Japanese)

Contents

A Credit Card Loan Screening for Foreigners

To use a credit card loan, foreigners also have to pass the prescribed screening by the issuer. The criteria for foreigners vary depending on the issuer. However, you can go through it with a stable income and sufficient repayment ability. The followings are the general screening points.

Credit information

Credit information is about the usage information of credit cards, loans, etc., and repayment status. Foreigners who have experienced delinquent credit cards, loan repayments, or mobile phone payments will receive disadvantages as their credit information may be compromised. Besides, if you are already using a credit card loan from another company, it may be disabled to pass the screening.

Workplace and working years

Foreigners working in public organizations, state-owned enterprises, and large corporations will have an advantage in card loan screening. Even foreigners working in small and medium-sized enterprises may pass the screening if they have sufficient repayment ability. In addition, the workplace and working years are also significant because they examined whether or not you continuously repay the amount borrowed loan. Even if you work for a listed company, you may not pass the examination due to a short period of working time.

Income

Foreigners whose income is continuously stable and can afford to repay tend to pass the screening. They may require to submit an income certificate depending on the amount of the loan. Therefore, you need to prepare a "salary statement for 1 to 3 months", a "withholding slip", and a "final tax return".

Type of residence

A house owned by yourself or your family has advantages compared to rending. However, you do not get disadvantages if you live in the same rental apartment or condominium for a long time. The status proves your Japanese life is stable, and you continuously pay a solid rent.

Period of stay in Japan

The longer you live in Japan, your credit card loan screening receives a better result. In addition to the period of stay in Japan, the future stay term is also one of the screening points. Although a credit card loan is not a long repayment period compared to housing loans, it is hard for foreigners who plan to stay less than a year.

Japanese ability

As a general rule, you can only apply for a credit card loan in Japanese. Please note that those who do not understand the contract details such as interest rate, repayment date, and repayment method cannot apply. In addition, when examining a credit card loan, the applicant may receive a phone call to confirm the identity or enrollment. Therefore, you need the ability to answer it in Japanese.

Uses of a credit card loan

Compared to mortgages and car loans, credit card loans can be used anywhere and unlimited. However, the purpose of use such as gambling, investment funds, repayment to other companies, living expenses, and so on will fail the screening. In principle, you should apply when you need money temporarily, such as weddings, overseas travel, leisure, and qualification study. The purpose is supposed to be other than entertainment use.

Credit Card Loan Types for Foreigners Available

There are mainly two credit card loan types: "bank card loans" and "consumer finance card loans." Consumer finance is a business that provides small loans to individuals. The characteristics, advantages, and disadvantages are different.

Consumer finance card loans

  • The quick screening tends to make it easier to use when you need a chunk of money in an emergency.
  • There are many appliable loans even for non-permanent residences. If you have a residence card and various certificates, you can use a loan provided by consumer finance immediately.
  • Japan's Money Lending Business Act restricts lenders to lend individuals only up to one-third of the borrower's annual income.

Bank card loans

  • The screening process for bank card loans is slower than consumer ones. Moreover, it is hard to get an instant loan, so apply as soon as possible.
  • The borrowing interest rate is lower than consumer credit card loans, so foreigners who want to save on interest should choose bank card loans.
  • However, most bank card loans require permanent residency for application.
  • Bank card loans need to be guaranteed by a guarantee company.

Credit Card Loans Available for Foreigners without Permanent Residence

As a general rule, foreign nationals without permanent residency are not eligible to use bank card loans. However, some consumer card loans are available to foreigners without permanent residence if they have certain conditions, such as stable and continuous income. Foreigners without permanent residency should consider using credit card loans provided by consumer finances.

Recommended card loans for foreigners without permanent residences

The features of SMBC Mobit Card Loan are its fast screening and disbursement speeds, making it highly convenient. In addition to offering a 10-second preliminary assessment, the final screening time is among the fastest for card loans at a minimum of 15 minutes (* depending on the day and time of application, the screening result may be delayed to the next day or later). Foreigners in urgent need of a loan in Japan can apply online and receive cash immediately upon approval. Online applications do not require any mailed documents or phone calls, so there’s no need to worry about family or colleagues finding out.
You can borrow from loan machines located within Sumitomo Mitsui Banking Corporation or partner ATMs, and it also offers the option to transfer borrowed funds to other bank accounts. By using the SMBC Mobit app, cardless borrowing and repayment are available 24/7 at Seven Bank and Lawson Bank ATMs, making it very convenient. Additionally, if you complete the V-Point service registration, you can accumulate 1 point for every 200 yen of interest paid, and 1 point = 1 yen can be applied towards repayments. Another notable feature is that SMBC Mobit Card Load accepts applications from foreigners who do not have permanent residency in Japan. For foreigners in urgent need of cash or those looking for a convenient loan service in Japan, the SMBC Mobit Card Loan is one of the strongest options available.

Interest rates 3.0 - 18.0%
Maximum loan amount Up to 8 million yen
Repayment method Balance-Slide Fixed Principal and Interest Repayment Method
The repayment method where the repayment amount does not vary based on the borrowed amount and a fixed amount is repaid.
Early repayment Available
Application requirements
  • Between 20 and 74 years old
  • Live in Japan
  • Have a stable income
  • Have the ability to repay the loan
Required documents 500,000 yen or less Valid resident card or special permanent resident certificate
500,000 yen or more Valid resident card or special permanent resident certificate + one of the following: withholding tax certificate, tax return form, or wage specification (last two months)
Other significant tips
  • Available for non-permanent residency
  • Preliminary assessment results in just 10 seconds. Highly recommended for foreigners in a hurry!
  • Free access to partnered ATMs nationwide, including Seven Bank, Lawson Bank, and E-Net.
  • If you complete the contract online, the screening process can be completed in as little as 15 minutes.
  • As of September 2024 (contents may have changed).

Visit SMBC Mobit Card Loan (in Japanese)

You can take a one-second test on the website to see if you can get a loan. You can apply online 24 hours a day, 365 days a year. The screening process takes as little as 18 minutes (*1). Same-day loans are available at the earliest. (*Depending on the time of day, this may be the next business day.) In addition to borrowing from Aiful ATMs and affiliated ATMs, you can also transfer funds to your bank account. By downloading the dedicated app, you can borrow and repay at Seven Bank ATMs or LAWSON Bank ATMs 24 hours a day in principle. Card loans provided by consumer finances have an image of high interest rates. However, you can borrow without any interest for up to 30 days from the day after the first contract date. Foreigners without permanent residences can also apply for this service. Thus, it is valuable for foreigners who need an urgent loan or uses a credit card loan for the first time.
*1 Depending on the specific circumstances of the application, cannot guarantee that it will be approved through the review process.

Interest rates 3.0 - 18.0%
Maximum loan amount Up to 8 million yen
(*If your usage limit exceeds 500,000 yen or the total borrowed amount, including from other companies, exceeds 1,000,000 yen, you will need to provide proof of income, such as a withholding tax certificate.)
Repayment method Principal and interest fixed rate revolving by sliding balance after borrowing
They determine the amount of repayment for each payment due date according to the balance immediately after borrowing.
Early repayment Available
Application requirements
  • Between 20 and 69 years old
  • Live in Japan
  • Have a stable income
  • Have the ability to repay the loan
Required documents 500,000 yen or less Valid resident card or special permanent resident certificate
500,000 yen or more Valid resident card or special permanent resident certificate + one of the following: withholding tax certificate, tax return form, or wage specification (last two months)
Other significant tips
  • Available for non-permanent residency
  • No interest for up to 30 days for first-time users
  • Appliable for a card only in case of sudden expenses
  • The screening process takes as little as 18 minutes. *Depending on the specific circumstances of the application, cannot guarantee that it will be approved through the review process.
  • Same-day loans are available
  • The dedicated app enables you to borrow and repay at Seven Bank ATMs or LAWSON Bank ATMs 24 hours a day
Terms and Conditions

For detailed loan service terms and conditions, please refer to the official website.

  • Company Name: Aiful Corporation
  • Registration Number: Kinki Finance Bureau Director (14) No. 00218
  • Loan Interest Rate: 3.0% to 18.0% (annual percentage rate)
  • Late Payment Penalty: 20.0% (annual percentage rate)
  • Contract Limit or Loan Amount: Up to 8 million yen (subject to review)
  • Repayment Method: Balance slide fixed amount revolving repayment method after borrowing
  • Repayment Period and Number of Installments: Maximum of 14 years and 6 months after borrowing (1 to 151 installments)
  • Collateral and Guarantor: Not required
  • As of September 2024 (contents may have changed).

Visit Aiful Card Loan (in Japanese)

Credit Card Loans for Foreigners

Most credit card loans are available to foreigners who have permanent residency. Many bank card loans, in particular, require a permanent residence as a condition for application. In other words, if you are a permanent residence, you can apply for and be approved for just like a Japanese. However, even if you have permanent resident status, it does not mean that you will pass the screening. The screening process considers various conditions such as staying years, workplace, employment status, annual income, credit information, etc.

Recommended credit card loans for foreigners with permanent residences

Mitsubishi UFJ Bank, one of the leading Japanese banks, provides this loan. The interest rates (1.8% to 14.6%) and the maximum credit limit (5 million yen) are the highest standards in the industry. The necessary status is a permanent residency with the ages of 20-year-old to 65-year-old. You can apply for it online 24 hours a day, 365 days a year. Since you do not need a Mitsubishi UFJ Bank account to apply for a loan, it is more convenient than other bank card loans that require you to open an account. Furthermore, there are no fees for using Mitsubishi UFJ Bank ATMs anytime and any number of times when making repayments. It is one of the most recommended card loans for foreigners who care about interest rates and trustworthiness.

Interest rates 1.8 - 14.6%
*Variable interest rate. Interest rates vary depending on the amount of credit available.
Maximum loan amount Up to 5 million yen
Repayment method Balance slide revolving
Early repayment Available
Application requirements
  • Between 20 and 65 years old
  • Live in Japan
  • Have a stable income
  • Get guaranteed by an insurance company
  • Have permanent residency
Required documents 500,000 yen or less Valid resident card or special permanent resident certificate
500,000 yen or more Valid resident card or special permanent resident certificate + one of the following: withholding tax certificate, certificate of determination of resident tax, or tax return form
Other significant tips
  • No need to open a Mitsubishi UFJ Bank account
  • Calculates the minimum repayment amount and notifies you by e-mail when the due date approaches
  • Low-interest rates
  • No fees for using Mitsubishi UFJ Bank and affiliated convenience store ATMs
  • As of September 2024 (contents may have changed).

Visit Mitsubishi UFJ Bank Card Loan Bankquic (in Japanese)

It is one of the safest credit card loans for beginners because there is no interest for 30 days from the day after the contract date for first-time card loan users. You can apply it anytime online. They decide whether or not you are eligible for getting a loan in 3 seconds as entering your age, annual income, and credit card debt status. The screening takes as short as 20 minutes if you apply during business hours (*1). Therefore, it is helpful when you need a loan in a hurry. If you pass the screening, you can use the loan as many times as you like within the limit of the amount you can borrow.
*1 Depending on the specific circumstances of the application, cannot guarantee that it will be approved through the review process.

Interest rates 3.0 - 18.0%
Maximum loan amount Up to 8 million yen
Repayment method Fixed rate revolving method
Repayment of the amount obtained by multiplying the balance of the loan by a certain fixed percentage (*including principal and interest)
Early repayment Available
Application requirements
  • Over 20 years old
  • Live in Japan
  • Have a stable income
  • Meet their standards
  • Have permanent residency
Required documents 500,000 yen or less Valid resident card or special permanent resident certificate
500,000 yen or more Valid resident card or special permanent resident certificate + one of the following: withholding tax certificate, certificate of determination of resident tax, or tax return form
Other significant tips
  • No interest for up to 30 days for first-time users
  • In 3 seconds, you can find out if you can borrow a loan
  • No fees for using Acom ATMs to borrow or repay.
  • As signing up online, the screening process takes as little as 20 minutes.
  • As of September 2024 (contents may have changed).

Visit Acom (in Japanese)

Credit Card Loans for Foreigners

Can foreigners without permanent residency apply for credit card loans?
Foreigners without Japanese permanent residency cannot apply for a bank card loan. However, loans provided by consumer finance companies are appliable. After you pass the screening by submitting a residence card and other required documents, you can use their credit card loan.
What are the conditions of passing screening for foreigners?
In the screening process of credit card loans for foreigners, they examine that the applicant has a stable income and a repayment capacity. Also, they consider your workplace, length of working, Japanese language ability, length of stay in Japan, and use of the loan.
Which credit card loans are recommendable for foreigners without permanent residency?
There is a chance to pass the screening by applying J.Score because it accepts applications from foreigners without permanent residency in Japan. Moreover, you can complete the procedure online and may take up a loan as quickly as the same day. Thus, we recommend those who need an urgent loan.
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