If you are retired and living in Thailand, what are your experiences applying for a Credit Card at Local Thai Banks?

I am retired and living in Thailand and I have never considered applying for a Credit Card at Local Thai Banks.  To me it's like applying for a postpay SIM card, the prepaid cards, to me, are better.  I do recommend Kbank for a savings account and a debit Visa card; with an Internet account the debit card can be used to make online purchases.  Kbank also has easy top up of prepaid SIM cards.  I do not recommend a Bangkok Bank online account, which will give you a Union Pay debit card which is accepted at far fewer places compared to Visa.  I think there are quite a few Thai Banks which will give you a Visa debit card and an online account (eg SCB, etc).

The OP is asking about credit cards though, debit cards certainly have their uses but some hotels and car hire companies require an actual credit card.
Many retirees have been issued with credit cards secured against a cash deposit, and whilst you’re effectively “borrowing” your own money you can get a credit card that will meet your needs.
Some retirees have got unsecured credit cards, but they are few and far between, Amex used to be more relaxed about non deposit based cards, but I’m not sure if that’s still the case, I’ve had mine for more than ten years so their criteria may have changed.


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I've lived here on and off the last 6 years and just always use my American bank issued credit cards. Why use a Visa or Mastercard issued by a Thai bank? They all use the same system. Just make sure that the card does not charge international transaction fees and you should be good. Both VISA and Mastercard use global worldwide networks to do transactions. I get much better service with my USA bank cards than I could ever imagine getting from Thai bank credit cards. Just get a Visa or Mastercard from your home country bank. Many USA bank credit cards have all kinds of perks. I use my USA Chase bank credit card here and they charge NO INTERNATIONAL transaction fees and the conversion RATES ARE GREAT. Just got 33.2 for my 1200 baht purchase at the drug store.

Edited August 16, 20187 yr by likerdup1

11 minutes ago, theoldgit said:

The OP is asking about credit cards though, debit cards certainly have their uses but some hotels and car hire companies require an actual credit card.
Many retirees have been issued with credit cards secured against a cash deposit, and whilst you’re effectively “borrowing” your own money you can get a credit card that will meet your needs.
Some retirees have got unsecured credit cards, but they are few and far between, Amex used to be more relaxed about non deposit based cards, but I’m not sure if that’s still the case, I’ve had mine for more than ten years so their criteria may have changed.


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I have a 'secured' credit card with Bangkok Bank ... I do as much spending as I can on it. I pay it off every month ... I get some sort of points that I spend ... well MrsJ does ...in the Mall.

 

Just don't drop your card as no one ever checks to see who owns it. Mine says in the signature bit Ask for ID ... never happens  ... I could sign Micky Mouse or anything .............

The duty free shops at Don Muang airport did not accept my credit cards without proper signature at the back. "Ask for ID" did not work there so I had to pay cash.

 

It was easy to get a secured credit card at Bangkok Bank.

Please be informed: If you have 800K in a Bangkok Bank fixed deposit and use a portion of that as credit card guarantee, then your "available balance" will be 800k minus that amount, and would not be enough for retirement ext. The portion that you used as card guarantee will be available 45 days after you have cancelled the cards. For example you'll need 900K if you use 100K of that for cc guarantee.

 

Edited August 16, 20187 yr by Thailand J

2 hours ago, likerdup1 said:

I've lived here on and off the last 6 years and just always use my American bank issued credit cards. Why use a Visa or Mastercard issued by a Thai bank? They all use the same system. Just make sure that the card does not charge international transaction fees and you should be good. Both VISA and Mastercard use global worldwide networks to do transactions. I get much better service with my USA bank cards than I could ever imagine getting from Thai bank credit cards. Just get a Visa or Mastercard from your home country bank. Many USA bank credit cards have all kinds of perks. I use my USA Chase bank credit card here and they charge NO INTERNATIONAL transaction fees and the conversion RATES ARE GREAT. Just got 33.2 for my 1200 baht purchase at the drug store.

I've never had any trouble using a debit card at hotels in Thailand, and don't rent cars. Surely an offshore credit card would suffice in the rare situations that debit cards are not accepted here... I have too many of them already. The idea of securing a credit card is absurd. I do notice that there are quite a few perks offered around town to credit card holders though...

 

Perhaps the Citibank may offer unsecured credit cards to good account holders. I'm only suggesting this because Citibank Philippines offered me a credit card many years ago... at an outstanding interest rate of 3.50% percent per month.

there is nothing absurd about secured cc cards. when you are retired, no work permit, no Thai income to show and want a credit card. There are a million reasons anything is absurd if you dont want it.

3 minutes ago, Thailand J said:

there is nothing absurd about secured cc cards. when you are retired, no work permit, no Thai income to show and want a credit card. There are a million reasons anything is absurd if you dont want it.

I think a secured cc is absurd, but if you think it's not, that's fine too. We're all offering opinions here, so settle down. Needing and wanting are not the same. 

I think you are absurd but that's only my opinion.  ?

 

15 minutes ago, Thailand J said:

I think you are absurd but that's only my opinion.  ?

 

There's no need for personal attacks when another member doesn't agree with your opinion. That's also against forum rules, so as much as I'd like to, I won't respond in kind.

There starts the bickering ....

2 minutes ago, observer90210 said:

There starts the bickering ....

You're welcome to add something useful... or are you looking to bicker?

11 hours ago, theoldgit said:

The OP is asking about credit cards though, debit cards certainly have their uses but some hotels and car hire companies require an actual credit card.

I travel a lot and have never had a hotel refuse a debit card, yes - they prefer a credit card but have always proceeded debit card when asked, I never hire cars so no experience there.

6 minutes ago, CGW said:

I travel a lot and have never had a hotel refuse a debit card, yes - they prefer a credit card but have always proceeded debit card when asked, I never hire cars so no experience there.

I also travel a lot and on the other hand have had hotels decline debit cards when checking in requesting a cash deposit if a credit card wasn't to hand, I've witnessed other guests having the same request, of course you can use a debit card when settling the account at the conclusion of the stay.
I do have experience of hiring cars and most, if not all, car hire companies will not allow you to rent a car without a hold placed on your credit card for the excess, you can't do that with a debit card.  

25 minutes ago, theoldgit said:

I also travel a lot and on the other hand have had hotels decline debit cards when checking in requesting a cash deposit if a credit card wasn't to hand, I've witnessed other guests having the same request, of course you can use a debit card when settling the account at the conclusion of the stay.
I do have experience of hiring cars and most, if not all, car hire companies will not allow you to rent a car without a hold placed on your credit card for the excess, you can't do that with a debit card.  

I can understand car hire companies not accepting a debit card, but with hotels its actually  in their favour to use as they have to charge you for stay by blocking the amount before you checkout, in years gone by some hotels simply didn't know how to do this, especially in China. I carry a credit card for emergency situations, in the past ten years never had to use it, I fight not having to use it as it is a pain to pay the bill, I have to transfer money from bank account which costs+$30 in fees which Really, really annoys me and makes me stand my ground ? 

11 hours ago, tropo said:

I think a secured cc is absurd, but if you think it's not, that's fine too. We're all offering opinions here, so settle down. Needing and wanting are not the same. 

I find it ridiculous as well

 

Let's say you want 100k limit... you have to lock 200k of your own money

 

Then if you use for example 50k and not refill by end of the month they charge you massive % interest on your own freaking money... like <deleted>

With Bangkok Bank you need 100K not 200K.

Are you stupid? Carry a balance and paying high interest on credit card loan while you have 100k in the fixed deposit?the only thing ridiculous is your own financial planning in that scenario.

there is nothing ridiculous with secured cc.

13 hours ago, Thailand J said:

there is nothing absurd about secured cc cards. when you are retired, no work permit, no Thai income to show and want a credit card. There are a million reasons anything is absurd if you dont want it.

OK you named 3 reasons.   Please go ahead and list the other 999,997 .  Now who makes absurd statements ?

8 minutes ago, Esso49 said:

Now who makes absurd statements ?

you just did.

To me, getting a secured credit card is always a money losing venture.  But I am happy I stumbled on this Topic because I have decided to apply for a non secured credit card at K Bank; which could come in handy at times.  Most of the time I use a credit card I'll use my USA Discover or Capital One, which pay me 1.5 % cash back immediately and more cashback at the end of the year (another 1.5% from Discover, I forget what Capital One does).

 

I can use the K Bank Credit Card (if I get it) for the Online purchases that I currently make with my K Bank debit card; and K Bank says I will get points for using the credit card, so why not apply.  Thanks guys.

Well I went to K Bank just now and asked them about a credit card.  They told me I can only get an unsecured credit card if I am working in Thailand or I have a business in Thailand.  They were pretty sure that this is true for all Thai Banks.

On 8/17/2018 at 11:13 AM, AtoZ said:

I find it ridiculous as well

 

Let's say you want 100k limit... you have to lock 200k of your own money

 

Then if you use for example 50k and not refill by end of the month they charge you massive % interest on your own freaking money... like <deleted>

Thats not how it works, the amount locked away is equal to the limit on the card, and if you pay the bill every month on time you will not be charged interest 

Edited August 19, 20187 yr by Scottjouro

1 hour ago, daocat555 said:

Well I went to K Bank just now and asked them about a credit card.  They told me I can only get an unsecured credit card if I am working in Thailand or I have a business in Thailand.  They were pretty sure that this is true for all Thai Banks.

100 % correct with Kbank and SCB for certain, and even with a work permit there are also conditions ie how long you have worked in Thailand and how much you earn will dictate the limit...

Unless you're actually looking for credit in Thailand , which is almost impossible without a work permit , you can just apply for a Virtual visa card .   

 

You will get a normal Visa card number , with exp date and 3 digit security code.  As long as there is money in your account , the Visa card will work worldwide , hotels shops , restaurants .  

And you can buy anything online with it etc.  

 

I am on Kasikorn Visa , but I am sure other banks also offer it. You have to apply for it after you open a normal savings account. 

 

  

 

 

 

14 hours ago, daocat555 said:

Well I went to K Bank just now and asked them about a credit card.  They told me I can only get an unsecured credit card if I am working in Thailand or I have a business in Thailand.  They were pretty sure that this is true for all Thai Banks.

not true. you need to goto another branch or try another bank if you are interested in a secured cc.

 

 

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Edited August 19, 20187 yr by Thailand J

3 hours ago, balo said:

Unless you're actually looking for credit in Thailand , which is almost impossible without a work permit , you can just apply for a Virtual visa card .   

 

You will get a normal Visa card number , with exp date and 3 digit security code.  As long as there is money in your account , the Visa card will work worldwide , hotels shops , restaurants .  

And you can buy anything online with it etc.  

 

I am on Kasikorn Visa , but I am sure other banks also offer it. You have to apply for it after you open a normal savings account. 

9

I also have one. It's a K-Web Shopping Card (Visa), and you don't have to apply for it. It's automatically available as soon as you register for online banking, with a 100k limit, which you can change if necessary.