Desmond77

So, either you throw in a tonne of cash as FD, or you have a work permit. There is no other way for any LTR holder (Except Highly Skilled Professionals) to apply for a credit card. So it will still goes back to the basic "Cash is king" BUT, if there are any LTR holders out there who, miraculously, have been able to get a credit card without locking up your entire fortune here in a FD account, I would be really grateful if you can kindly share your experience. Thank you in advance.

With all due respect Sir, my subject header was LTR holders applying for a credit card. That was something which I have been trying to understand. But I do appreciate your response and clarification. Thank you.

Excluding the dependents, only the Highly Skilled Professional under the LTR visa will be given a work permit by default. So the remaining categories will still pretty much have not much options then.

Appreciate the clarification.

Mm.. While you are holding the LTR? So you placed a fortune into the FD account?

In that case, I will just stick back to that one principle of all expats here in Thailand and that is "Cash is king"! Lol

Hi, I have just gotten my LTR visa under the Work-From-Thailand-Professional scheme. I am wondering if it is possible for me to apply for a credit card please? The reason why I am asking is because I am in the midst of renovating and furnishing my house here and places like Homepro and Boontharvorn are giving away alot of perks for customers with credit cards from banks like Krunsri Bank or Kasikorn Bank. I have tried with Krungsri Bank but they said that I will either need to deposit a crazy amount of THB2,000,000 into a Fixed Deposit account for at least a year or I will need to have a Thai work permit with a salary of at least THB70,000. It does not make any sense. My monthly income is more than 4 times of that minimum requirement set by the bank. If I want to run away with any credit card debt, with or without a Thai work permit, I can still run. I have explained that I could get car financing without any Thai guarantor and I have finished paying my car financing within a year. So where is the logic? Any LTR holders here have any experience in applying a local Thai credit card?

Hi, may I know if the THB50K fee is applicable to only the main applicant? What about the dependents? Will it be THB50K too?

No problem with that. You may actually kick off your application with your existing passport because when your application has been approved, you will be asked to upload the passport which you would like to use to receive the LTR. I renewed my passport in the midst of my application.

If you follow the standard application process on the website, you are right. But I have known of cases when BOI has actually requested for the insurance policy at very early stages of the application. They requested for the full schedule of my insurance policy just merely a week after my submission of the application and my approval only came in on the 27th business day. So what you can do is follow the standard application process and submit whatever documents that are required first. Fill up the declaration form to state that you are aware of the requirement of the submitting the insurance policy with a minimum of USd50k coverage at a later stage and upload that declaration form together with the initial application. Many successful applicants here in this forum will agree with me that different screeners at BOI office work a little differently but, for a common objective.

Just a personal suggestion. If you would like to proceed with your LTR application as soon as possible and you do not want to wait for your insurance to be due for renewal in Apr, you may consider getting one of those cheap "Buy & throw" kind of insurance just to fulfill the immediate requirements of the application. It is not expensive and it serves the purpose, instantly.

No doubt, these changes are really fantastic. At the same time, that may also potentially means that it will be easier for us to pass the review at our 5-year mark and enjoy the remaining 5 years of our hard fought LTR.

Hey guys, my bad for typing in the wrong category of applicants. For the benefit of everyone, I have cut and pasted the whole article here for easy reading.

Haha.. Yes, you are absolutely correct. WP refers to Wealthy Pensioners.

In a nutshell, below are the changes: WFTP: 1. Instead of USd150M over 3 years for private companies, it will be lowered down to USD50M. 2. The minimum income of USD80k per annum over the past 2 years shall go out of the window WP: 1. The minimum passive income of USD80K will be abolished as well. Dependents: 1. Currently limit to 4 but there shall be no limit on the number of dependents soon.