Benefit of getting Thai credit card?

[Grawburg]

My US cards work fine and I have an SCB bank account and debit card.  Is there any benefit to getting a local credit card such as store discounts or airline points?

[JohnLick]

Bragging rights and the privilege to have 100% of the available balance locked up while paying juicy interest on portion used.

 

A fake debit card (actually worse than debit card)

[NanLaew]

Those that already have a Thai credit card (and not simply a secured one) by dint of being here since Methuselah or having a legit job, paying taxes, etc., will be along to say how great it is or how easy it was. If you are not working legitimately in LOS or not planning to outstay your welcome, I wouldn't bother. Having a good credit rating in Thailand isn't one of those stepping stones to great financial rewards and fiscal happiness... even if you are working, living or retired here.

[theguyfromanotherforum]

No benefit whatsoever. Having a Thai credit card is a liability.

 

I stick with my Canadian credit card which gives me 2% back which nicely offsets any forex fees. What is more important, however, is that I have absolute protection with my credit card and won't have to beg the bank getting my money back in case of fraud.

 

[Kaoboi Bebobp]

2 hours ago, JohnLick said:

Bragging rights and the privilege to have 100% of the available balance locked up while paying juicy interest on portion used.

 

A fake debit card (actually worse than debit card)

 

^^^Yup. You have to deposit and lock up tens of thousands of baht and then get charged for using your own money. A laugh riot! 

[mogandave]

I have a Citi Visa and a Thai Airways Amex.

 

get a few discounts,  but pretty much quit using them when a it a Chase card with no foreign transaction fees. 

[inThailand]

As much value as a pink Id card and yellow book for there are better and easier options.

[Bob12345]

Credit card from Citibank here and we get points for Thai Airways.

 

The card arrived about 2 months ago and we already saved up enough points for a free ticket to Japan (been spending on decorating a house).

 

Ever wondered why Thais like to fly Thai Airways even though they are neither good nor cheap? Its because they get free upgrades because of their credit card spending.

[CaptHaddock]

In addition, Thai credit cards do not have a statutory requirement to hold you harmless in the event of fraudulent use of the card, unlike US cards, for example.  This is a big liability.  You are on the hook for all charges on the card unless you can convince a bank otherwise.

 

I wouldn't accept a Thai CC under any circumstances.

[khunnat]

 

- quite often there are special discounts for credit card holders (discounts that -kind of strange - you wouldn't get if you were paying cash).

 

- Thai credit cards usually have a reward points scheme that you can use to get an additional discount

 

- also if you had to make a deposit to get the credit card just know it will earn you some interest (not much)

 

- and last but not least, better use a Thai card in Thailand, you don't want your foreign card to get skimmed/hacked or something here.

 

If you just use the card as a payment option and opt for automatic payment every month then a Thai Credit card may save you much money.

 

[cms22]

If you don't have the option of a foreign credit card, a Thai credit card is great. I have two Bangkok Bank cards and they are fine, I use it and then pay it off and its great for overseas travel, booking hotels, online purchases etc. I say Thai credit cards are brilliant if you have no foreign option and you are disciplined about paying the debt. Cheers.  

[SOUTHERNSTAR]

If you live with one foot in your home country and one foot in Thailand, there is no benefit. If you however live in Thailand fulltime a foreign credit card can become a hassle. I have a Thai unsecured credit card and have had no problems.  With my foreign cards I always had fear as I only had a Thai mobile number which they could not use to send SMS's to then transactions took place. With my Thai card I get instant transaction confirmation. 

[meinphuket]

17 hours ago, theguyfromanotherforum said:

No benefit whatsoever. Having a Thai credit card is a liability.

 

I stick with my Canadian credit card which gives me 2% back which nicely offsets any forex fees. What is more important, however, is that I have absolute protection with my credit card and won't have to beg the bank getting my money back in case of fraud.

 

That Is not correct. There are many benefits to be had from using a Thai card, discounts, points and the card's Thai bank account is covered by the Thai government. Remember the TomYum Kung crisis, nobody, except the banks, lost money.

[ecline]

3 hours ago, CaptHaddock said:

In addition, Thai credit cards do not have a statutory requirement to hold you harmless in the event of fraudulent use of the card, unlike US cards, for example.  This is a big liability.  You are on the hook for all charges on the card unless you can convince a bank otherwise.

 

I wouldn't accept a Thai CC under any circumstances.

I was just two weeks ago a victim of fraud. Someone somehow got a hold of my credit card details and went on an online shopping spree. I have a Thai Citibank Visa. Not sure about cards issued through BKK Bank or other Thai financial institutions, but Citibank didn't charge me a single Baht for the fraudulent charges and replaced my compromised card in less than 5 working days. I can highly recommend Citibank, Thailand. And as another poster pointed out, the air miles can accrue pretty quickly if you use your card a lot and smartly.

[theguyfromanotherforum]

22 minutes ago, meinphuket said:

That Is not correct. There are many benefits to be had from using a Thai card, discounts, points and the card's Thai bank account is covered by the Thai government. Remember the TomYum Kung crisis, nobody, except the banks, lost money.

 

I dunno. I get the pretty good discounts using my AIS and number. Don't see why bother getting a credit card. Even my wife is paranoid getting one. She doesn't trust Thai banks and is one of those Thais who thinks Thailand is the best country on the world.

[edwardflory]

NONE, mostly cost money, AND deposit money used to establish ""credit card"" ( AKA DEBIT CARD ) limit. Whoops, you name will be on the card.

 

Try this:

Open 2 bank SAVINGS accounts . Passport and other documents needed.

 

#1 account, do NOT get a debit card for THIS account, bank book only. Make a deposit any amount you choose - INSIDE the bank using the FOREIGN CC.  If used this way, with many banks, is treated as a RETAIL purchase from a merchant, the exchange rate IS usually of the CC used.  ===> Keep your bank book, and foreign CC with your PP in a secure location at home<===

 

#2 IS your daily working account, AS NEEDED transfer monies from #1 to this account and use the debit card freely everywhere.  A fraud loss will only be what you have on deposit that day.

 

Most banks in TH have a bank application that you can do the transfer with 4-6 taps - plus money amount to transfer - ONCE you have added the accounts to the application.

 

Downside: Wipe or Lock your mobile if lost or stolen, NEVER use Public WiFi to do transfers - unless DIRE emergency, then RESET password ASAP.

 

NOTE: daily walking about, you do NOT have to carry your passport at all times.  You CAN carry a wallet size - color suggested - copy in the wallet, but, if stopped might be required to report to proper authority, within a reasonable time ,WITH passport. 

Edited September 25, 2017 by edwardflory
spelling

[smutcakes]

I have a TCC with Krungsri bank. Never had a problem with it. I receive occasional phone calls checking up on transactions if it is an unusual spending pattern, but i find it very handy when paying for hotels, airlines, etc especially when overseas. Never had any issue with them, customer service is decent to. For me its just another payment option, i don't care about any of the discounts, air miles etc. I dont have a deposit either with the bank and the card is just paid off directly by direct debit every month.

[sitti]

I have multiple high-end Thai credit cards. I can tell you they are absolutely worth it, especially for those who live in Thailand. I haven't used my US credit cards in Thailand for 3 years now. First, you get all sort of discounts, bonuses, benefits  and insurances. I like eating at expensive buffet at brand name hotels. No US cards will get me 30~50% off. My prestige citi card comes with purchase protection, in case for should any of electronics I bought have problems. It also earns points which can be exchanged for multiple airlines miles.  My Aeon cards have 3% cash back for spending at restaurants and hotels, and earn ROP miles as well. The amount I spent my cards, I easily earn enough points/miles that get me  2 round trips worth of Business class or 1 round trip of first class every year.

 

I often see people commenting about you will be liable for fraud. Well, obviously they don't know what they are talking about since they don't actually have credit card here. My Thai credit cards (Citi, SCB, Aeon, Krungsri) always protect me from fraud. I have never been charged for any unauthorized used of my card. And services I receive are far better than I get from US banks.

 

If you live in Thailand, in my opinion Thai credit cards are very well worth it. If you are qualified, I highly recommend it.

[theguyfromanotherforum]

2 hours ago, edwardflory said:

 

 

#1 account, do NOT get a debit card for THIS account, bank book only. Make a deposit any amount you choose - INSIDE the bank using the FOREIGN CC.  If used this way, with many banks, is treated as a RETAIL purchase from a merchant, the exchange rate IS usually of the CC used. 

 

Interesting.

 

It could be a costly experiment if not true.

[Senechal]

I always thought there were some Thai credit cards that came with good airport lounge access. I remember looking at a flyer some years back (well, it could have been more than 10 years ago) that advertised as much.

 

Doesn't that still go on?

Edited September 25, 2017 by Senechal

[portroyal]

Holding a thai credit card let you get many benefits, but

- your money is locked-up (you get however interest)

- it is up to your bank to decide if they want to give you one or not

[YT3k72Em]

Benefits over foreign credit cards:

- no need to maintain an address overseas or have someone forward new cards to you when they expire.

- 0% credit terms for 6-10 month instalments offered by many shops. eg. when purchasing mobile phones, apple computers or other big ticket household items from large stores.
- no exchange rate fees when shopping in Thailand.

- the only option for some people who have no income overseas.

 

Benefits over debit cards:

- air miles or cash back benefits eg. 10,000 points can be exchanged for 1000 baht, or other miles / dining benefits that others have mentioned.

- more universal acceptance when compared to debit cards.  eg. none of the Bangkok Bank Union Pay fiasco.

- no fees for life on the standard cards. Thai debit cards all have fees.

 

- If you have a work permit, relatively easy to get from certain banks and impossible from some others.  If you don't have a work permit, hang on to your overseas card.

[theguyfromanotherforum]

22 minutes ago, YT3k72Em said:

Benefits over foreign credit cards:

- no need to maintain an address overseas or have someone forward new cards to you when they expire.

- 0% credit terms for 6-10 month instalments offered by many shops. eg. when purchasing mobile phones, apple computers or other big ticket household items from large stores.
- no exchange rate fees when shopping in Thailand.

- the only option for some people who have no income overseas.

 

 

 

Well.... debatable.

 

Many companies do mail forwarding nowadays. Not an issue.

 

Many credit cards have promos where they give interest free rates for the first year regardless of what you buy anywhere in the world. They also offer interest free balance transfers, so they are that much better.

 

Many mid tier cards offer no forex fees and ones that don't have a 1.5-2% cash backs/travel rewards scheme which offsets it. Also, premier credit cards, especially the ones from USA and Canada have much lower monthly fees.

 

Just like in Thailand, you can get a secured credit card even if you have no income. The added benefit will be protection which you won't get with a Thai card.

 

 

[xr399]

8 hours ago, YT3k72Em said:

Benefits over foreign credit cards:

- no need to maintain an address overseas or have someone forward new cards to you when they expire.

- 0% credit terms for 6-10 month instalments offered by many shops. eg. when purchasing mobile phones, apple computers or other big ticket household items from large stores.
- no exchange rate fees when shopping in Thailand.

- the only option for some people who have no income overseas.

 

Benefits over debit cards:

- air miles or cash back benefits eg. 10,000 points can be exchanged for 1000 baht, or other miles / dining benefits that others have mentioned.

- more universal acceptance when compared to debit cards.  eg. none of the Bangkok Bank Union Pay fiasco.

- no fees for life on the standard cards. Thai debit cards all have fees.

 

- If you have a work permit, relatively easy to get from certain banks and impossible from some others.  If you don't have a work permit, hang on to your overseas card.

TMB has their 'All Free' debit card. It has a one time 500 baht fee on issue but all transactions after issue are free. No charges for using any ATM from any bank anywhere in Thailand. If you loose it it costs you another 500... Have had one for 8 years now.

[Fairynuff]

On 9/24/2017 at 11:16 AM, inThailand said:

As much value as a pink Id card and yellow book for there are better and easier options.

I thought it wouldn't be long. Odd that my pink card and yellow book have proved their worth over and over again

[bkk6060]

I would have nothing credit wise in Thailand.  NOTHING!

[YT3k72Em]

On 9/25/2017 at 11:26 PM, xr399 said:

TMB has their 'All Free' debit card. It has a one time 500 baht fee on issue but all transactions after issue are free. No charges for using any ATM from any bank anywhere in Thailand. If you loose it it costs you another 500... Have had one for 8 years now.

The TMB "All Free" has an annual fee of 350 baht and a card issuing fee of 500 baht. It's free after you pay.

 

https://www.tmbbank.com/en/newsroom/news/pr/view/tmballfree-best-account-in-th.html

[SooKee]

Only benefit I see is where you need to pay for something, or even hold reservations, online and don't want to get hit for the crap exchange rates using foreign cards.  For that reason I have one account with Kasikorn that I keep around 1,000 baht only and attached to that is a Kasikorn K-Web card, a virtual card where you just get card details, no card.  If needed I top the account up from one of my other Kasikorn accounts should I need to pay for anything over 1,000.  My debit cards are enabled for online use but I'd never use a debit card online in Europe, let alone here!

 

For me, the 'benefits' that get marketed with these cards (reduced costs at restaurants etc - which I find are far less than what you can get via Eatigo) rarely amount to much once you look at alternatives.

Edited October 13, 2017 by SooKee

[mogandave]

If you get paid in Thailand it makes a lot of sense to have a Thai credit card.

I used to like to walk around with a fat wad of of cash when I was a kid, give me plastic. Mf’er robs me, all he gets is practice.

End up at s hospital? No problem if you have a credit card.


Sent from my iPhone using Thaivisa Connect

[Millian]

On 9/25/2017 at 1:23 PM, Senechal said:

I always thought there were some Thai credit cards that came with good airport lounge access. I remember looking at a flyer some years back (well, it could have been more than 10 years ago) that advertised as much.

 

Doesn't that still go on?

Yes.

I have a citi card which grants me access to airport lounges twice a year.

There is also a premium card, which has unlimited access to lounges.  However, there is an annual cost for that card (think its 3k or something)

I get 10% discount in Gourmet market and Emqautier/emporium/The Mall group, which is the reason I choose mine, as i work in near Emquaiter and get my lunch in the Gourmet market most days.

A lot of people keep mentioning about having to pre-load Thai credit cards, making them in effect debit cards.  That can be the case with some cards, but not all.  I have a Bangkok Bank account, and they wanted me to deposit the limit on it.  I then applied to Citi and they gave me a real credit card with a limit x 2 monthly salary.
 

Edited December 11, 2017 by Millian