Credit Card - Thai bank issued

[junglechef]

What are the advantages of having a a Thai bank issued credit card if one already has a foreign bank issued MC or Visa and a local bank ATM card?

 

For example SCB requires a guarantee in a fixed term of 200% of the line of "credit" paying 1.4% for a 12 month term.  

 

They explained how great it is to for instance not have to pay for my 1000 bht purchase for 2 weeks.

When I pointed out that it would be a net of 99,000 bht outlay I was told to not think about the initial the 100,0000 bht deposit as it was just a guarantee (these are their words and figures). 

 

There probably might be perhaps a possible good reason to get a card.

Can anyone give me a reason?

 

 

[HampiK]

When you have a Thai credit card, the main advantage I see is, that you not have to pay more, when your home currency is in a bad shape. But mean you have enough money in Thailand, so you can wait till the currency has a better exchange rate.

Another maybe advantage is, that you have some discount with some credit cards (sometimes also can have some discounts with ATM cards). The bonus program I think are available with most home cards as well so this would not count.

 

And what is important, what is, when you not have an card in your homecountry, because you are not counting as resident anymore. Which with some banks and card issuer give you problems to keep your credit card or bank accounts.

[junglechef]

1 hour ago, HampiK said:

When you have a Thai credit card, the main advantage I see is, that you not have to pay more, when your home currency is in a bad shape. But mean you have enough money in Thailand, so you can wait till the currency has a better exchange rate.

Another maybe advantage is, that you have some discount with some credit cards (sometimes also can have some discounts with ATM cards). The bonus program I think are available with most home cards as well so this would not count.

 

And what is important, what is, when you not have an card in your homecountry, because you are not counting as resident anymore. Which with some banks and card issuer give you problems to keep your credit card or bank accounts.

Thanks for the reply.

 

If your going to have 100,000 bht held by the bank with 50,000 bht of that available to use on a card then wouldn't be just better to have the 100,00 bht available on a local ATM card?

Either way you'll have the same amount to hedge against exchange rate fluctuations but more readily available. 

 

They did mention bonus points but I didn't get the details as I've found they never amount to much unless you using the card often and for large purchases and even then. 

 

As an American the banks at home are more then happy for me to have a card even though I'm not a resident. They now even send them directly to me here. But that's good old capitalistic America, not sure about other places. 

 

 

 

 

 

 

[jackdd]

There is no adventage of having a Thai credit card if you have one from your home country which doesn't charge any fees for foreign transactions

[HampiK]

3 hours ago, junglechef said:

Thanks for the reply.

 

If your going to have 100,000 bht held by the bank with 50,000 bht of that available to use on a card then wouldn't be just better to have the 100,00 bht available on a local ATM card?

Either way you'll have the same amount to hedge against exchange rate fluctuations but more readily available. 

 

They did mention bonus points but I didn't get the details as I've found they never amount to much unless you using the card often and for large purchases and even then. 

 

As an American the banks at home are more then happy for me to have a card even though I'm not a resident. They now even send them directly to me here. But that's good old capitalistic America, not sure about other places. 

If that is so easy of course you should keep the American credit card. as the protection I guess from an foreign card is better than the Thai cards.

And even, when you would decide to have an Thai credit card, I would keep the American one, as it is always good to have a spare card.

[junglechef]

13 minutes ago, HampiK said:

If that is so easy of course you should keep the American credit card. as the protection I guess from an foreign card is better than the Thai cards.

And even, when you would decide to have an Thai credit card, I would keep the American one, as it is always good to have a spare card.

Thanks, never was a question of either or as my OP asked advantage if one already has a foreign one. 

[Ks45672]

3 hours ago, junglechef said:

Thanks for the reply.

 

If your going to have 100,000 bht held by the bank with 50,000 bht of that available to use on a card then wouldn't be just better to have the 100,00 bht available on a local ATM card?

Either way you'll have the same amount to hedge against exchange rate fluctuations but more readily available. 

 

They did mention bonus points but I didn't get the details as I've found they never amount to much unless you using the card often and for large purchases and even then. 

 

As an American the banks at home are more then happy for me to have a card even though I'm not a resident. They now even send them directly to me here. But that's good old capitalistic America, not sure about other places. 

 

 

 

 

 

 

No, much safer to use a credit card than debit

In the event of fraud, it can mean the difference between getting a refund or not as the bank don't care about your money.... 

But they will not let anyone steal their money ?

[Pib]

About the only advantage to having a Thai bank issued credit card (secured like the OP is talking or unsecured/regular card) is occasionally you might need to buy something where you want to use a credit card and the merchant will only accept a Thai credit or debit card---simply will not accept a foreign card.  Or the merchant will only accept a foreign credit card if using a Dynamic Currency Conversion (DCC) transaction transaction where you get approx a 3% lower exchange rate which is really 3% more profit for the merchant.   I've run-up against that maybe 3 or 4 times over the last decade of using my U.S. credit cards here in Thailand.

 

And sometimes a certain promotion/sale by a Thai merchant, like say getting 20% off or 0% interest for X-months, requires using a credit card from specific Thai bank(s); a foreign card does not earn the promotion/sale.

 

As long as having no problem in receiving your foreign credit card in Thailand, probably best to continue using them as you'll also likely have much stronger card consumer protection compared to weaker card consumer protection laws in Thailand.