Offshore credit cards are credit card

Credit card

A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...

s issued by an offshore bank

Offshore bank

An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction that provides financial and legal advantages. These advantages typically include:...

 in a jurisdiction that is different to that of the cardholder. Real 'unsecured' offshore credit cards with credit line

Line of credit

A line of credit is any credit source extended to a government, business or individual by a bank or other financial institution. A line of credit may take several forms, such as overdraft protection, demand loan, special purpose, export packing credit, term loan, discounting, purchase of...

s are very difficult for the average person to obtain because banks refuse to issue them. Most banks will need possession of reliable credit histories

Credit history

Credit history or credit report is, in many countries, a record of an individual's or company's past borrowing and repaying, including information about late payments and bankruptcy...

 and a means of getting their money back. If a customer is somewhere 'offshore' the risk of extending a credit line is too great and so as a result these cards are only issued to clients that have long standing relationships with the bank in question.

Since it is almost impossible to get one, if you see an 'unsecured' offshore credit card advertised online beware it is probably a scam.

Secured cards

Since most banks will not offer credit lines without some kind of insurance

Insurance

In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...

, they offer 'secured' offshore credit cards as an alternative. Secured offshore credit cards involve depositing a certain amount (usually 125-150% of the credit line) to cover what you borrow. For a credit line of 20,000 USD for example, a deposit of 25000-30000 USD may be required. This aside, the card operates to all intents and purposes like a normal credit card, and most carry a major label such as Visa or MasterCard

MasterCard

Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...

.

Debit cards

Another type of card often marketed as a credit card is an offshore debit card. Offshore debit cards are linked to an offshore bank account, and do not involve any extensions of credit whatsoever. The only money that may be spent is the amount stored in the offshore bank account itself. An offshore Visa debit or MasterCard is accepted worldwide just like a credit card.