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In Vietnam, even the 'credit cards' are 'debt cards'. There is no concept of a credit score there (or a legal way to really make people pay up a debt), so they came up with this work around. To get a credit card, you have to carry the total amount of 'credit' as a time deposit in your account that you can't touch.

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It's not entirely true. Some banks only issue credit cards if you receive salary via their bank account or have a deposit there (mostly state owned banks) but other have no such requirement. Also they already have a credit score database up and running (CIC).

Name one bank in Vietnam that has no such requirement.

The credit score database only applies to locals and not foreigners living there, so that is what my reference was.

Secured credit cards also exist in America :-)

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