Credit Card from TMB - "farang cannot"

[Keyser Soze666]

2 minutes ago, Pib said:

It's not written in stone (like a law) to where every Thai bank will follow to the letter as there will be exceptions. You will see posts from retired/non-working farangs who did get "unsecured" credit cards....maybe because they knew the right person....but such folks are the exception. 

 

But getting a "secured" card is generally easy....put up the locked deposit as collateral and you should be good to go....but if the bank you are applying to is generally not farang friendly...just prefers to not have farang customers (but they will never admit that), you may not even be able to get a secured credit card. 

Just called my bank. Said I can apply at any branch and she seemed to suggest it shouldn't be a problem. She also said that the security money only has to be the same as the credit limit, not double, but said it has to stay in the acc for 12 months. Cheers.

[bkk6060]

What are the guarantees on a Thai CC for fraud protection?

My home country cards have been used a couple of times there over the years fraudulently.

One time I ate at a restaurant, used the card to pay, and the next day $4,000 of airline tickets were purchased.

When I called they took it off my bill immediately and told me nothing would be done.  Only if it is over $10,000 is there an investigation.

So, what would they do here?  I doubt it would be so easy and probably make you investigate/show proof yourself that it was a fraud.  Good luck doing that.

Edited May 25, 2020 by bkk6060

[Pib]

6 minutes ago, Keyser Soze666 said:

Just called my bank. Said I can apply at any branch and she seemed to suggest it shouldn't be a problem. She also said that the security money only has to be the same as the credit limit, not double, but said it has to stay in the acc for 12 months. Cheers.

And staying in the acct for 12 months will probably not mean that after 12 months you can withdraw the money and continue to use the card; the rep may have meant the deposit would be made in the form of a 12 month fixed deposit which would continue to roll over into another 12 month fixed deposit as long as you keep the credit card.  And you deciding to cancel the card would not mean you would have to wait until the end of the 12 months to withdraw your money....it just means you lose some to all interest earned. 

 

The fine print of the deposit will vary among banks/card issuer....but I wouldn't plan on being able to withdraw the funds after 12 months and still be able to keep the card without collateral/locked deposit.   

[Puchaiyank]

It is not a matter of trust.  It is the bank protecting their assets as a results of years of experience...

[Fex Bluse]

43 minutes ago, samsensam said:

 

that appears to be fairly common experience/knowledge regarding banks, the oft repeated advice is if you dont get what you want with one bank employee/branch or bank simply try another bank employee/branch or bank until you do. works for me.

It's true about everything in Thailand. Thailand is consistently inconsistent. You might even get a different answer at the same bank branch from a different account rep. Likely, actually. 

[VocalNeal]

For online shopping I use M-Card. I just do an in-out method. I transfer the amount from SCB to M-Card, then use M-Card on line.

[Pib]

Here's an example/requirements to get a Krungsri Bank "secured" credit card. 

 

https://www.krungsricard.com/en/Product/CreditCard/Exclusive/Krungsri-Visa-Platinum.html

 

Quote

 

For Credit Card with Deposit Pledge
Enjoy the credit card that does not require a minimum income declaration from you. Simply open Krungsri Saving account to be pledged for secured credit card. Variety of Krungsri’s credit card privileges and benefits line up for you.

Qualifications:
• For foreigner, residence and mailing address in Thailand are required
• Open Krungsri savings account / time deposit account.
• Deposit money into Krungsri account (Credit Line 90%) and complete deposit pledge form THB 40,000

Required Documents
• A copy of Passport. (Please submit completed application and documents at any Krungsri Branch)
• Deposit pledge form.
• Branch print screen of seizing deposit account page.

 

 

[Keyser Soze666]

14 minutes ago, Pib said:

And staying in the acct for 12 months will probably not mean that after 12 months you can withdraw the money and continue to use the card; the rep may have meant the deposit would be made in the form of a 12 month fixed deposit which would continue to roll over into another 12 month fixed deposit as long as you keep the credit card.  And you deciding to cancel the card would not mean you would have to wait until the end of the 12 months to withdraw your money....it just means you lose some to all interest earned. 

 

The fine print of the deposit will vary among banks/card issuer....but I wouldn't plan on being able to withdraw the funds after 12 months and still be able to keep the card without collateral/locked deposit.   

Tbh I fully assumed it would work the way you have said. As for losing any possible interest, if say the card/deposit was for 50k it wouldn't be worth having anyway.

[Captain Monday]

1 hour ago, Crossy said:

 

Sadly no unsecured card then. At one time AmEx were doing unsecured credit cards for non workers, it may be worth talking to them.

 

 

 

I tried to get A Thai Airways Amex card, got a nice personalized rejection letter. I have had a AMEX card in the US twenty years. Huge credit line unsecured. Your credit rating and job in your own country appears to mean nothing.

 

So what is to stop a foreigner in his own country from maxing out his cards and credit lines and running off to Thailand? Or say he finds out he has an incurable disease then maybe run up huge debts before and then just snuff it?

Edited May 25, 2020 by Captain Monday

[SAFETY FIRST]

I have 3 Kasikorn credit cards for 10 years now, Platinum, Spouse and Wisdom

I got the 3rd credit card because I wanted a Bank Safety deposit box, the only was I could get it was to sign up for a 3rd credit card (Wisdom) with a life insuarnce plan with MTL.

I work offshore, variuos countries, but did work in Thailand about 15 years ago.

[Crossy]

8 minutes ago, Captain Monday said:

I tried to get A Thai Airways Amex card, got a nice personalized rejection letter. I have had a AMEX card in the US twenty years. Huge credit line unsecured. Your credit rating and job in your own country appears to mean nothing.

 

Yeah, they called me. At the time I was travelling a lot on the company dime and racking up the miles on my ROP card, evidently they wanted in on my not insignificant spend. I paid for 3 months of hotel in Singapore on the card, so they got their wish.

 

Citi were similar, they called me, handy actually coz theirs is one of the few credit cards accepted by Makro and I get 12% cashback on fuel at PTT.

 

SCB offered me a card (actually offered us a pair of cards) when we re-financed our mortgage with them, evidently the credit check came back good.

 

[uncleP]

I have a card in my name on the wife's  account. It took the present situation  for her to realise that having no savings and 6 credit cards was not the way to go. We are now down to 1 with a 0 balance ????

[Leaver]

I'm not in the market for a credit card here.  As another member said, between having the same amount locked away as security, then fees and interest for using the bank's money instead of your own, only to pay the card off with your own money, defeats the purpose.   Although, as another member mentioned, they can be good for promotions, and I accept that, but I wouldn't call a new kitchen part of a regular spending pattern.

 

I have a question about the security.  Many own property here.  Can your property secure the small amount you have on a credit card, or it must be cash?  

[thedemon]

1 hour ago, Lacessit said:

I have the same Kasikorn card. I just keep a 50,000 baht balance for things like airline tickets, hotels and online purchases.

Only time I had a credit card in that sense was about 40 years ago. American Express. Got rid of it after about a year, couldn't see any sense in paying fees just so I could owe money on it.

 

I use the K-Web shopping cards too. They are very useful especially the ease with which you can set the credit limit up or down online.

 

But be careful using it to book airline tickets with legacy airlines. The low-cost airlines in Thailand are ok because the payment goes through the "verified by visa" authentication system. But if you book with legacy carriers that don't use that system they can demand production of a physical card at check-in and they can be pretty obstinate. Mostly they won't ask but one day, out of the blue they will. It has happened to me. The same applies when booking a ticket with a real credit card for another passenger not travelling together with the cardholder.

[thedemon]

13 minutes ago, Leaver said:

I'm not in the market for a credit card here.  As another member said, between having the same amount locked away as security, then fees and interest for using the bank's money instead of your own, only to pay the card off with your own money, defeats the purpose.   Although, as another member mentioned, they can be good for promotions, and I accept that, but I wouldn't call a new kitchen part of a regular spending pattern.

 

I have a question about the security.  Many own property here.  Can your property secure the small amount you have on a credit card, or it must be cash?  

Possibly it could be, especially if combined with a mortgage. Otherwise it wouldn't be worthwhile covering the costs and taxes involved registering the lien at the land department. Also the bank would hold your Chanote in such a case.

[Ranshoko]

If your an Expat and especially for retired people. Why bother with a Thai Credit Card?  My monthly income goes into my Home Bank Account. I have a Credit Card via my Home Bank which can be used anywhere in the world. I transfer money into my Thai Bank account when I need it. I have a Debit Card and Online Banking with the Thai Bank. I personally neither need or want a Thai Bank Credit Card.

[RichardColeman]

I have a UK credit card, could probably buy a Thai house on it. Apart from using it to buy air tickets - to give myself a little insurance - the balance is usually zero.

 

I honestly cannot see why anyone living in Thailand would need a Thai credit card considering the amount of income we need to have coming in and money in the bank, apart from impulse purchases that could probably be covered by savings.

[SAFETY FIRST]

11 hours ago, RichardColeman said:

I honestly cannot see why anyone living in Thailand would need a Thai credit card considering the amount of income we need to have coming in and money in the bank, apart from impulse purchases that could probably be covered by savings

Your needs are obviously different from those of others.

I own several properties, vehicles, watches etc. having considerable assets here in Thailand security is a priority for valuables. As I mentioned earlier having a Thailand credit card was the only way I could get a safety deposit box within the Kasikorn bank's vault, some things are just too precious to be stored in the home safe.

My Thai credit card gives me lots of local privileges as well as free visits to Airport Lounges worldwide, this is very useful as I've been working offshore for decades, travelling to many cities around the world the Lounges have become a very needed place when crew changing.

When visiting a Kasikorn branch I go to the front of the queue each and every time, over the many years jumping the queue has saved me a lot of time. Time is so dearly welcomed when working offshore as you're away from your family 4 weeks at a time.

 

The list goes on and on as to why I need a THAI CREDIT CARD
 

[Dazinoz]

14 hours ago, Pib said:

Typically, with a Bt100K locked deposit you will get you a Bt50K credit line.

I wanted a 50k credit line so I needed to lock deposit 50k only with Bangkok Bank.

[Dazinoz]

14 hours ago, scubascuba3 said:

Why would you want a credit card here anyway, most probably fees and interest is high and if it's secured on another account it's pointless

Yes needs to to be secured in a fixed deposit account which earns higher interest, its handy to have a card and I wanted one for PayPal account, plus I got and AirAsia credit card from Bangkok bank and have accumulated enough points for 2 local flights in Thailand and, I always pay in full before due date and have never had to pay fee.

 

In conclusion not pointless.

[Dazinoz]

14 hours ago, Pib said:

And staying in the acct for 12 months will probably not mean that after 12 months you can withdraw the money and continue to use the card; the rep may have meant the deposit would be made in the form of a 12 month fixed deposit which would continue to roll over into another 12 month fixed deposit as long as you keep the credit card.  And you deciding to cancel the card would not mean you would have to wait until the end of the 12 months to withdraw your money....it just means you lose some to all interest earned. 

 

The fine print of the deposit will vary among banks/card issuer....but I wouldn't plan on being able to withdraw the funds after 12 months and still be able to keep the card without collateral/locked deposit.   

Yep, my secured card is with Bangkok bank and the fixed 12 month is automatically renewed every year and needs to stay while I have the card and even for a time after cards are closed to cover any "late" charges. Not sure of that time.

[Dazinoz]

13 hours ago, Keyser Soze666 said:

Tbh I fully assumed it would work the way you have said. As for losing any possible interest, if say the card/deposit was for 50k it wouldn't be worth having anyway.

When I took out my card the normal everyday account was 1% interest but the fixed deposit to secure the card paid 1.5%.Not sure values now. So better interest not lose.

[Dazinoz]

One thing I have done and suggest if you get a credit card is to scratch off the CVV on the back of the card (after you have written it securely somewhere). It is only needed for online purchases and stops a sales person who you hand the card to writing it down and making a purchase on your card later.

[SAFETY FIRST]

14 hours ago, scubascuba3 said:

Why would you want a credit card here anyway, most probably fees and interest is high and if it's secured on another account it's pointless

1. I have never paid fees on my credit cards here in Thailand.

2. I have never paid interest on my credit cards here in Thailand.

3. My credit cards in Thailand are not secured on any of my accounts in Thailand, I have monthly limits. They do withdraw the owing amounts on my credit cards on the due date from my Thailand savings account

if I forget to pay or

if Im working and unable to pay due to poor bandwith on the rig.

[Irishrogue]

15 hours ago, Keyser Soze666 said:

Is this gospel, Pib? if so that sounds fair enough to me and I would be very interested?

I did the same years ago, 100K in Fixed Deposit a/c so yes he 100% correct.

[new2here]

1 hour ago, SAFETY FIRST said:

Your needs are obviously different from those of others.

I own several properties, vehicles, watches etc. having considerable assets here in Thailand security is a priority for valuables. As I mentioned earlier having a Thailand credit card was the only way I could get a safety deposit box within the Kasikorn bank's vault, some things are just too precious to be stored in the home safe.

My Thai credit card gives me lots of local privileges as well as free visits to Airport Lounges worldwide, this is very useful as I've been working offshore for decades, travelling to many cities around the world the Lounges have become a very needed place when crew changing.

When visiting a Kasikorn branch I go to the front of the queue each and every time, over the many years jumping the queue has saved me a lot of time. Time is so dearly welcomed when working offshore as you're away from your family 4 weeks at a time.

 

The list goes on and on as to why I need a THAI CREDIT CARD
 

I agree.. while I think it's fair to say that, on the whole, most of the Thai bank issued credit cards (here I am speaking to truly unsecured cards or credit cards that are issued in the foreigners name, based solely on their own credit merit, without the need to deposit any type of funds/assets as a precondition or to offer up any assets as collateral) don't really have any >>major<< benefits that far exceed what can be found on many "western" bank issued cards -- call me lounge access, cell phone loss coverage, primary/secondary auto rental coverage, etc..  and it's my opinion that the market within Thailand is quite small with only about two dozen issuers in total (compared to thousands in the US and I'm sure well into the hundreds for many other nations outside of Asia) and it's this issue, in part, which is what stifles the need to really offer up a more competitive product.

 

For me, a US national, who is working (thus work permit holder) and with documented monthly salary in excess of B100,000 going back four years plus, I initially chose BBL and KBANK largely for two reasons:  I wanted to build a local credit file with the NCB and I wanted to access some of the local "perks" that are mostly dining offers... both of which essentially require you to hold a locally issued Visa/MC credit card from a Thai bank.

 

So, I can agree that, IMHO, for the "typical" non-working, non-national, who has fair access to their "home" credit system, there probably isn't a whole lot of real need if you will, to have a Thai-bank issued credit card -- but I think that IF you can get one, I can't see a whole lot of downside either.. While using the dining perks on my BBL/KBANK cards haven't materially changed my finances for the better, I can say that from time-to-time, I've managed to save a few hundred baht here and there off what I would otherwise normally otherwise had spent while dining anyway.. I've also managed to save a few hundred or few thousand off some domestic hotels when doing some long weekend trips.

 

[Keyser Soze666]

13 hours ago, RichardColeman said:

I have a UK credit card, could probably buy a Thai house on it. Apart from using it to buy air tickets - to give myself a little insurance - the balance is usually zero.

 

I honestly cannot see why anyone living in Thailand would need a Thai credit card considering the amount of income we need to have coming in and money in the bank, apart from impulse purchases that could probably be covered by savings.

'we'?? I really don't think you should place everyone under the same umbrella?

 

Why does it matter where you live? It is 'handy' to have a CC. Especially if you like to travel, and it also means you can be protected by chargeback when making bookings on it. 

 

I find it a a very strange to ask why anyone would need a CC just based on where they live.  

[MJKT2014]

15 hours ago, SAFETY FIRST said:

I have 3 Kasikorn credit cards for 10 years now, Platinum, Spouse and Wisdom

I got the 3rd credit card because I wanted a Bank Safety deposit box, the only was I could get it was to sign up for a 3rd credit card (Wisdom) with a life insuarnce plan with MTL.

I work offshore, variuos countries, but did work in Thailand about 15 years ago.

I think the purpose of this thread was how one gets a Thai credit card without a job in Thailand? The o/p is retired. You say you got a credit card during a period you were not working in Thailand, so is your point that KBank allows this to be done today or what exactly are you trying to say?

[SAFETY FIRST]

3 minutes ago, MJKT2014 said:

I think the purpose of this thread was how one gets a Thai credit card without a job in Thailand? The o/p is retired. You say you got a credit card during a period you were not working in Thailand, so is your point that KBank allows this to be done today or what exactly are you trying to say?

No, Im saying give Kasikorn Bank a try. I wasnt working in Thailand when I received my cards.

 

His post does not say he is retired, find below:

I finally got up the courage to ask if I could get a credit card from the bank I have used for the past nine years and received the answer "farang cannot".

Does anyone now what this is about? Is this policy the same in all Thai banks?

 

Didnt reckon I needed to spell it out.

Maybe you should take your time to read comments, there is no rush to reply/make comment. 

 

[sead]

I could but didn't want to. Kasikorn it was. When I was surprised that they offered me I asked how much I could get. They said that it depends on how much i want to put in for security. I told her that it's same as a debit card. Sigh