As an expat, do you live here without any form of credit ?

[Sujo]

I use a maybank debit card. It also has the mastercard or visa payment methods so can buy flights, hotels etc using it. I also get rewards but never bother with that.

 

Had 6 weeks in US 2 years ago. Stayed 2 weeks in a holiday inn then 4 weeks at a hilton.

 

Also used to fly every 2 months in asia, no issues.

 

Never had a cc and never had reason to need one. So im happy as it is.

[patman30]

17 minutes ago, HampiK said:

Actually some hotels tell you they only accept credit cards,

when talking about cards, yes i agree
however
They will ALWAYS take cash.
Sometimes deposit can be hefty
but usually here, its only 1-2000 baht
i have paid a few hundred USD in some places
deposits are only to cover mini bar and damages, room is already paid.

Dont get me wrong, people may have been told something by staff trained to say that
and then handed over their CC
but when pushed for CC when you do not have one, they accept cash

Edited January 30, 2021 by patman30

[Andy from Kent]

On 1/28/2021 at 2:43 PM, patman30 said:

Yet myself am completely debt free, i do not use credit cards and have not even had the option of credit for a long time

 

Maybe you're  not aware that a person can use a credit card and  still be debt free.

 

And a person can certainly be in debt while not having a credit card.

 

Good for the OP to be debt free.

[patman30]

9 minutes ago, Andy from Kent said:

Maybe you're  not aware that a person can use a credit card and  still be debt free.

And a person can certainly be in debt while not having a credit card.

Good for the OP to be debt free.

  

3 hours ago, sanuk711 said:

am still waiting for someone to tell me what the downside of owning a credit card is--what are you scared of?

The thread was not about credit cards
it was actually asking who lives here without credit
not specific to cards
but everyone who does use credit
quickly jumped in the thread to justify their use of credit cards
almost as if they need to justify their reasoning to themselves
and funny to see some stating lies and falsehoods in that justification
claiming credit cards are needed, or are a necessity for today
when many get by perfectly fine without credit
and this was never a "credit is bad" thread

[sanuk711]

On 1/28/2021 at 2:43 PM, patman30 said:

Yet myself am completely debt free, i do not use credit cards

 

Patman your the one who kicked this misunderstanding off----

 

--"I am completely debt free I do not use credit cards"=  Ergo credit cards mean debt.

 

A lot of people are trying to point out to you that C.C if used correctly doesn't mean debt, And that us users of C.C. are also "Like you" completely debt free.

 

Could you state what debt you are talking about...the options are limited for a Farang in Thailand....."Getting Loans"???

Edited January 30, 2021 by sanuk711

[Skallywag]

Am amazed at all the TF members who are Thai citizens on here.  Just reading a few pages, there are more than a few that claim to own "their" houses and have paid off their mortgages here in Thailand.  

As one guy mentioned here, an unplanned hospital visit even when you have health insurance can be difficult without a credit card in my experience.  

It's all good until it isn't.

A credit card makes it easy to book a flight, rent a car, book a room in a hurry if needed 

[patman30]

13 minutes ago, sanuk711 said:

 

Patman your the one who kicked this misunderstanding off----

 

--"I am completely debt free I do not use credit cards"=  Ergo credit cards mean debt.

 

A lot of people are trying to point out to you that C.C if used correctly doesn't mean debt, And that us users of C.C. are also "Like you" completely debt free.

sorry i missed ","

the title says "Credit" not "credit cards"
the only reason i typed cards there
was many in another thread seemed to think CC are essential today
so
"i am completely debt free, AND i do not use credit cards"
this was to avoid others twisting it the other way and saying "how do you book hotels without a CC"
as many here think only CC can be used which is not the case.

also you are by definition, in debt as soon as you use the card,
right up until that debt is paid at the end of the month
so it is in fact a bit of a fallacy to think you can use a CC but NEVER be in debt
even if that debt is temporary, it is still debt, until that credit is paid.
but again see my wording
who lives here without "ANY form of credit" which includes using "credit cards" (excluding ones with funds locked which is then not credit)
it was not "who lives here without any debt"
????

again i never said anything negative about credit, but was simply asking to see how many lived here without any
i do not care for "the benefits" of CC cards myself, i have eyes, i can read.

Edited January 30, 2021 by patman30

[patman30]

3 minutes ago, Skallywag said:

Am amazed at all the TF members who are Thai citizens on here.  Just reading a few pages, there are more than a few that claim to own "their" houses and have paid off their mortgages here in Thailand.  

As one guy mentioned here, an unplanned hospital visit even when you have health insurance can be difficult without a credit card in my experience.  

It's all good until it isn't.

A credit card makes it easy to book a flight, rent a car, book a room in a hurry if needed 

with the exception of renting a car in a hurry
nothing else cannot be done just as conveniently with cash or debit card
if you have the funds available

[sanuk711]

2 minutes ago, patman30 said:

"i am completely debt free, AND i do not use credit cards"
this was to avoid others twisting it the other way and saying "how do you book hotels without a CC"
as many here think only CC can be used which is not the case.

also you are by definition, in debt as soon as you use the card,
right up until that debt is paid at the end of the month
so it is in fact a bit of a fallacy to think you can use a CC but NEVER be in debt
even if that debt is temporary, it is still debt

 

The And ..was not there....Quote-"also you are by definition, in debt as soon as you use the card,"

Explain that to me would you. my Oz C.C. is $800 in Credit, I spend $500 on an air fair ..... I am in Debt how???

Its already been explained that Thailand C.C.  (that's where we are talking about) are in Credit all the time by having a bank account attached to them just like a debit card.

 

But your not talking about Credit Cards..... even though you mentioned them as in debt your intro and your last post.

 

 

 

 

 

[JAFO]

Zero debt here but have a credit card as I work here and travel. And to someone's other posts. I order a lot online nowadays and not having a credit card would make it painful and complicated. I pay off the balance every month so its not really debt and I pay no interest.

 

Why I applaud not carrying any debt, why make it so hard on oneself. Plus in the event of an emergency having a CC can be very beneficial

[sanuk711]

9 minutes ago, patman30 said:

with the exception of renting a car in a hurry
nothing else cannot be done just as conveniently with cash or debit card
if you have the funds available

You really should add to the bottom of that ....IN THAILAND ...if you traveled a bit you would realize that you can not always access your cash--- try booking something in Brunei Cambodia...or have a situation where you have the funds but getting them isn't easy.

 

Take a look at the "Go Fund" me pages, I think the Thai hospitals in Phuket especially would be in a lot better shape if Young Farang Tourist had a Credit card.

[NanLaew]

One medium balance UK-issued MasterCard credit card for work or vacation travel and accommodation. Paid off in full each month.

 

One low balance US-issued VISA credit card for online purchases. Paid off as soon as the charge posts.

 

One AMEX charge card for large, one-off purchases like First Class air travel. Paid in full monthly.

 

Three VISA debit cards, linked to my US and (2) UK bank accounts. Only use two of them for home country or overseas ATM's.

 

Bangkok Bank MasterCard ATM card... for local ATM's.

 

All except the last one are gathering dust right now.

 

The only credit I have had in Thailand is a couple of car notes, all paid off now.

Edited January 30, 2021 by NanLaew

[Kwasaki]

1 hour ago, KannikaP said:

I have read in previous posts regarding money UK to Thailand, that a C Card/ATM is the most expensive way to do it.

That's correct ATM use of UK credit card in Thailand compares to extortion where as the UK bank charge is less than half Thai ATM bank charges.

Using UK debit a/c card is slightly UK bank cheaper but at the Thai ATM the same charge.

 

I only use my UK credit card for fuel, shopping etc when I choose to.

 

I have only used my UK cards at ATM withdrawal in what you maybe could call an emergency.

 

Transferwise I haven't used for years they wanted £10.70p for sending £1000 to Thailand maybe it's cheaper now.

 

I got the £1000 from going into the Thai SCB bank with my UK debit card and they charged 180 baht and FD UK bank charged £1.75p. @ 40 - £ thats £6.25p.

 

At the moment Bangkok bank ATM now wants 220 baht, my UK bank will charge .197% on converted amount  + £1.75p. 

So on 40,000 baht thats if you can get from ATM will cost 220 baht ( £5.50p) + UK charge £1.97p + transaction fee £1.75p. total. £9.92p. still less than £10.70p. 

[sanuk711]

6 minutes ago, Kwasaki said:

Transferwise I haven't used for years they wanted £10.70p for sending £1000 to Thailand maybe it's cheaper now.

I have never used transferwise, but from what I have read on here the attraction is more so in their exchange rates.

[Peter Denis]

7 minutes ago, Kwasaki said:

...

Transferwise I haven't used for years they wanted £10.70p for sending £1000 to Thailand maybe it's cheaper now.

 

I got the £1000 from going into the Thai SCB bank with my UK debit card and they charged 180 baht and FD UK bank charged £1.75p. @ 40 - £ thats £6.25p.

 

At the moment Bangkok bank ATM now wants 220 baht, my UK bank will charge .197% on converted amount  + £1.75p. 

So on 40,000 baht thats if you can get from ATM will cost 220 baht ( £5.50p) + UK charge £1.97p + transaction fee £1.75p. total. £9.92p. still less than £10.70p. 

What is missing in your calculation is the exchange rate that your UK bank applies when providing you with THB.

And that's where TransferWise are 'unbeatable' because they use the real mid-exchange rate at the exact moment you do the transaction.  As good as all other banks take a 'cut' on that mid-exchange rate, so you do no not only pay them a fixed and variable service fee (and often also a receiving bank handling fee) but you also end up paying for any difference in exchange rate they apply.

TransferWise uses the mid-exchange rate and only charges a modest service fee for their service.  As they work with 'partner banks' in Thailand, there is also no receiving bank handling fee as the transfer is handled as a domestic transaction.

With TransferWise you also know EXACTLY how much THB you will receive on your Thai bank-account, so no surprises and getting a lower rate because of delay in handling your transfer.

 

[Kwasaki]

1 hour ago, Peter Denis said:

What is missing in your calculation is the exchange rate that your UK bank applies when providing you with THB.

And that's where TransferWise are 'unbeatable' because they use the real mid-exchange rate at the exact moment you do the transaction.  As good as all other banks take a 'cut' on that mid-exchange rate, so you do no not only pay them a fixed and variable service fee (and often also a receiving bank handling fee) but you also end up paying for any difference in exchange rate they apply.

TransferWise uses the mid-exchange rate and only charges a modest service fee for their service.  As they work with 'partner banks' in Thailand, there is also no receiving bank handling fee as the transfer is handled as a domestic transaction.

With TransferWise you also know EXACTLY how much THB you will receive on your Thai bank-account, so no surprises and getting a lower rate because of delay in handling your transfer.

 

Not correct my calculations were on 40 baht to the UK pound.

As I said that was last I looked saw today after a trying to log into Transferwise it's £6 + something for a £1000 so they have got wiser. ????

Not that much better than going into a Thai bank though. 

 

 

Edited January 30, 2021 by Kwasaki

[Peter Denis]

45 minutes ago, Kwasaki said:

Not correct my calculations were on 40 baht to the UK pound.

As I said that was last I looked saw today after a trying to log into Transferwise it's £6 + something for a £1000 so they have got wiser. ????

Not that much better than going into a Thai bank though.

The actual mid-term exchange rate (the middle between buying and selling funds) changes every minute.  Banks do not use that mid-term exchange rate when you use their service to transfer money abroad, but rather use their own exchange rate which is of course less than the 'real' rate.

You are only talking about service fees for transferring the money abroad, but the determining factor how much THB you get for your GBP is determined partly by the service fee and to a larger extent by the exchange rate that your bank uses.

Using TransferWise has saved me very much money, instead of requesting my bank to transfer money to my Thai bank-account or even worse to use my foreign debit0 or credit-card to extract money from an ATM.

[Kwasaki]

45 minutes ago, Peter Denis said:

The actual mid-term exchange rate (the middle between buying and selling funds) changes every minute.  Banks do not use that mid-term exchange rate when you use their service to transfer money abroad, but rather use their own exchange rate which is of course less than the 'real' rate.

You are only talking about service fees for transferring the money abroad, but the determining factor how much THB you get for your GBP is determined partly by the service fee and to a larger extent by the exchange rate that your bank uses.

Using TransferWise has saved me very much money, instead of requesting my bank to transfer money to my Thai bank-account or even worse to use my foreign debit0 or credit-card to extract money from an ATM.

As I've said everyones situation is different I don't need to get money from UK the UK IPC pay my pension directly into my Thai bank. 

My private pensions providers won't so using my UK credit card is a way of using some of that money the rest is saved. 

[Peter Denis]

2 minutes ago, Kwasaki said:

As I've said everyones situation is different I don't need to get money from UK the UK IPC pay my pension directly into my Thai bank. 

My private pensions providers won't so using my UK credit card is a way of using some of that money the rest is saved. 

Just a suggestion > Would be interesting for you to check which exchange rate the UK IPC is using to transfer your UK pension directly to your Thai bank.

If they take a heavy cut on the exchange rate, you could ask them to send it to your UK account instead.  That would have the additional advantage of you deciding when to transfer funds to your Thai bank-account.  The mid-exchange rate fluctuates quite a lot so that would allow you to send the funds when the rate is favorable for you.

[Sujo]

3 hours ago, sanuk711 said:

You really should add to the bottom of that ....IN THAILAND ...if you traveled a bit you would realize that you can not always access your cash--- try booking something in Brunei Cambodia...or have a situation where you have the funds but getting them isn't easy.

 

Take a look at the "Go Fund" me pages, I think the Thai hospitals in Phuket especially would be in a lot better shape if Young Farang Tourist had a Credit card.

I have stayed in cambodia and brunei, didnt need cc, debit card used, or cash.

 

ive only been in hospital in malaysia twice for broken ribs. Only for overnight. Cash or debit card accepted.

[Hamus Yaigh]

3 hours ago, NanLaew said:

One low balance US-issued VISA credit card for online purchases.

Don't you need a US social sec number to get one of them?

[Hamus Yaigh]

7 hours ago, sanuk711 said:

Can you "or Anyone" just tell me the drawbacks of having a free C.C.....even if you don't use it.

I had my Citi credit card cancelled as I hadn't used it enough. Accounts are automatically closed on 2 years of non use even if the card was value 4 years. Happened to me last year.

[Kwasaki]

12 minutes ago, Peter Denis said:

Just a suggestion > Would be interesting for you to check which exchange rate the UK IPC is using to transfer your UK pension directly to your Thai bank.

If they take a heavy cut on the exchange rate, you could ask them to send it to your UK account instead.  That would have the additional advantage of you deciding when to transfer funds to your Thai bank-account.  The mid-exchange rate fluctuates quite a lot so that would allow you to send the funds when the rate is favorable for you.

Maybe but let's just say, I do look out of interest at rate's, any small gains or losses are minimal .

 

Every 4 weeks I get a regular income I  like it that way. 

 

Transferwise were offering a 41 something to £ and charging £6

I  got neally 42 baht to £ this week with no charges.

 

The rate that is given having UK pension paid directly to Thailand is always very good. 

 

[Peter Denis]

Just now, Kwasaki said:

Maybe but let's just say, I do look out of interest at rate's, any small gains or losses are minimal .

 

Every 4 weeks I get a regular income I  like it that way. 

 

Transferwise were offering a 41 something to £ and charging £6

I  got neally 42 baht to £ this week with no charges.

 

The rate that is given having UK pension paid directly to Thailand is always very good.

OK, if you like it that way, no need to change anything.

But just for the record > Even though it might be a good rate, it is simply impossible that the exchange rate used by UK IPC is better than the mid-exchange rate as used by TransferWise. 

[sanuk711]

21 minutes ago, Hamus Yaigh said:

I had my Citi credit card cancelled as I hadn't used it enough. Accounts are automatically closed on 2 years of non use even if the card was value 4 years. Happened to me last year.

I can quite believe that Hamus....it also applies to Thai bank accounts, if not accessed in a 2 year period they are closed also......(along with your Thai Debit card)

[Kwasaki]

33 minutes ago, Peter Denis said:

OK, if you like it that way, no need to change anything.

But just for the record > Even though it might be a good rate, it is simply impossible that the exchange rate used by UK IPC is better than the mid-exchange rate as used by TransferWise. 

1 hour ago, Peter Denis said:

Just a suggestion > Would be interesting for you to check which exchange rate the UK IPC is using to transfer your UK pension directly to your Thai bank.

If they take a heavy cut on the exchange rate, you could ask them to send it to your UK account instead.  That would have the additional advantage of you deciding when to transfer funds to your Thai bank-account.  The mid-exchange rate fluctuates quite a lot so that would allow you to send the funds when the rate is favorable for you.

Maybe but let's just say, I do look out of interest at rate's, any small gains or losses are minimal .

 

Every 4 weeks I get a regular income I  like it that way. 

 

Transferwise were offering a 41 something to £ and charging £6

I  got neally 42 baht to £ this week with no charges.

 

The rate that is given having UK pension paid directly to Thailand is always very good. 

 

[treetops]

6 hours ago, KannikaP said:

I have read in previous posts regarding money UK to Thailand, that a C Card/ATM is the most expensive way to do it.

The right card used in the right manner can be one of the best options there is to get cash in Thailand for a Brit.  The wrong one (as shown by Kwasaki above) can be a nightmare.

 

6 hours ago, Sujo said:

I have never had anywhere decline a debit card. You can use debit card with visa payment method. I have done it twice for deposits.

As already explained Visa process payments for both card types.  You have used a Debit Card as just that.

[Kwasaki]

35 minutes ago, Peter Denis said:

OK, if you like it that way, no need to change anything.

But just for the record > Even though it might be a good rate, it is simply impossible that the exchange rate used by UK IPC is better than the mid-exchange rate as used by TransferWise. 

UK govt IPC for overseas payments use Citibank.

This Thursday Transferwise rate was lower than what I got with my pension but by only about  .2 as I remember. 

 

I'll check in the next 4 weeks out of interest and have a look again. 

[KannikaP]

21 minutes ago, treetops said:

The right card used in the right manner can be one of the best options there is to get cash in Thailand for a Brit.

So please enlighten me/us, thanks.

[ICELANDMAN]

I hate electronic money.