Getting A Credit Card From A Thai Bank

[CALSinCM]

I want to get a Thai Bank issued Credit Card that I'll use on Thai online sites like Lazada and Aliexpress and perhaps for small purchases at Big-C, Makro etc.  (Yeah, I know there is other ways to do it, but let's please limit discussion to obtaining a Thai Bank issued Credit Card)

I do not want to use my debit card. I did it once to by Covid insurance.  I don't want to use it again. There is too much risk involved in exposing my actual bank account using a debit card.  You see where I'm coming from?
So I want to minimize that risk by obtaining one of those Credit Cards where the maximum credit limit of the card is the amount that I place in escrow to obtain the card.  I'd like to cap my exposure to about 10,000 THB or 20,000 THB tops.  So I'm willing to toss that amount into an interest free account to back a Credit Card credit limit.

I don't know how this works with Thai banks or which Thai banks offer Credit Cards to farangs that are essentially "pre-paid/pre-credit-limit-capped" with funds held in escrow.

How's that work and which banks offer those types of credit cards to farangs.  I've accounts with BKK Bank and SCB.  FYI I live in Chiang Mai.

I want to know how it works before I go to the bank as I want to limit my exposure to Covid.  So I want to pop in, get it done, and get back out without a lot of discussion. 
Thanks!

[macahoom]

You say above: "So I want to minimize that risk by obtaining one of those Credit Cards where the maximum credit limit of the card is the amount that I place in escrow to obtain the card."

 

I doubt any bank will do that for you. They will want you to deposit significantly more than the maximum limit of your card and that amount will be locked and you will not be allowed to withdraw any of it until you cancel the card.

 

Some banks insist on double the amount of your card limit; others, like Krungsri, may not be so unreasonable but will still insist on more than your credit limit .  

Edited July 19, 2021 by macahoom

[NCC1701A]

30 minutes ago, CALSinCM said:

I want to get a Thai Bank issued Credit Card

work permit and income for real credit card yes.

 

or deposit money in bank and use as collateral. i use my 800,000 baht for both a visa credit card and master card credit card. must be paid in full every month. automatically withdrawn. Bangkok bank.  

 

Both cards work great for everything. 

Edited July 19, 2021 by NCC1701A

[JoePai]

For online sites like Lazada and Aliexpress use online bak transfer and for for small purchases at Big-C, Makro etc. use cash - simple !

[CALSinCM]

8 minutes ago, NCC1701A said:

work permit and income for real credit card yes.

 

or deposit money in bank and use as collateral. i use my 800,000 baht for both a visa credit card and master card credit card. must be paid in full every month. automatically withdrawn. Bangkok bank.  

 

Both cards work great for everything. 

I've 800K in my an account.  How that work though for a Visa/MC card?  I don't want an 800K credit limit?

[CharlieH]

Just a suggestion, if you bank with Kasikorn they have the "virtual card" that you can switch on and off at will, set amounts etc. That works for any online use.

 

As for the physical credit card, if you have a Thai wife, tell her to go get one and you use it.

 

Just ideas to think on ????

[NCC1701A]

Just now, CALSinCM said:

I've 800K in my an account.  How that work though for a Visa/MC card?  I don't want an 800K credit limit?

use whatever amount you want. i used 200,000 baht for each card from the 800,000 baht. 

[Johnny Mac]

I go one from K-Bank about 6 months ago, just as you said you have to keep whatever amount you have on the card as escrow, not a baht more, or at least not with K-Bank. It was pretty straightforward got the card in about 2 weeks. You have a choice when you apply to either pay the whole amount off monthly or just the min. Then of course you can pay it by the normal means too at anytime during the month.

[CALSinCM]

1 minute ago, CharlieH said:

Just a suggestion, if you bank with Kasikorn they have the "virtual card" that you can switch on and off at will, set amounts etc. That works for any online use.

 

As for the credit card, if you have a Thai wife, tell her to go get one and you use it.

 

Just ideas to think on ????

Thai wife has no income other than what I give her. 
Do you have any link for the Kasikorn Virtual Card.  I'm not sure what that is?

[Johnny Mac]

25 minutes ago, macahoom said:

 

 

I doubt any bank will do that for you. They will want you to deposit significantly more than the maximum limit of your card and that amount will be locked and you will not be allowed to withdraw any of it until you cancel the card.

 

Some banks insist on double the amount of your card limit; others, like Krungsri, may not be so unreasonable but will still insist on more than your credit limit .  

Nah, with K-Bank I only need to keep the CC limit amount in reserve.

[CALSinCM]

1 minute ago, Johnny Mac said:

I go one from K-Bank about 6 months ago, just as you said you have to keep whatever amount you have on the card as escrow, not a baht more, or at least not with K-Bank. It was pretty straightforward got the card in about 2 weeks. You have a choice when you apply to either pay the whole amount off monthly or just the min. Then of course you can pay it by the normal means too at anytime during the month.

That sound about right for what I want.  What much do you keep in the account?  I'll pay charges off monthly.

 

[Johnny Mac]

Just now, CALSinCM said:

That sound about right for what I want.  What much do you keep in the account?  I'll pay charges off monthly.

 

90k

[Moonlover]

44 minutes ago, CALSinCM said:

I do not want to use my debit card. I did it once to by Covid insurance.  I don't want to use it again. There is too much risk involved in exposing my actual bank account using a debit card.  You see where I'm coming from?

Why do you suppose there is any greater risk of using a debit card over that of using a credit card? 

[NCC1701A]

9 minutes ago, CALSinCM said:

I've 800K in my an account.  How that work though for a Visa/MC card?  I don't want an 800K credit limit?

one thing, that 800,000 baht is my retirement extension of stay money immigration wants you to have in the bank. mine is in a fixed account at Bangkok Bank. So you will need a letter every year stating that the balance did not ACTUALLY drop below 800,000. i just got mine at BB. maybe put X amount over 800k for your CC card.   

[CALSinCM]

2 minutes ago, Moonlover said:

Why do you suppose there is any greater risk of using a debit card over that of using a credit card? 

Because there is.

[CALSinCM]

2 minutes ago, NCC1701A said:

one thing, that 800,000 baht is my retirement extension of stay money immigration wants you to have in the bank. mine is in a fixed account at Bangkok Bank. So you will need a letter every year stating that the balance did not ACTUALLY drop below 800,000. i just got mine at BB. maybe put X amount over 800k for your CC card.   

I don't use it for retirement.  I'm married.

[Gottfrid]

19 minutes ago, CALSinCM said:

I've 800K in my an account.  How that work though for a Visa/MC card?  I don't want an 800K credit limit?

You got no problem and do not need a credit card. As you clearly state you have the money. Just open a second debit card account, connect a card and fill with 20k baht. No more risk than a credit card. No extra interest and just to refill when empty. Problem solved.

[CALSinCM]

1 minute ago, CALSinCM said:

I'm sorry I triggered you.  I'm an old guy.  We're not like you kid. 
It takes a whole lot to offend me. 
And go back and review all the "Thank you's emojis I gave people."  Then out of nowhere - you come up with - "Wow, pretty classless if you ask me."  This isn't about you cupcake.
Come on - toughen up.  You didn't add anything other than a good whine.  I've no respect of whining. 

But here-

A debit card exposes your entire balance to fraud.
A credit card exposes your credit limit to fraud.

Can I serve this up to you in a manner that doesn't make you melt?  Really.  Just stop.  None of this is about you.  But you made it about you.  Stop.

And thank everyone else you provided constructive suggestions.
I appreciate that.

 

[CharlieH]

47 minutes ago, CALSinCM said:

Thai wife has no income other than what I give her. 
Do you have any link for the Kasikorn Virtual Card.  I'm not sure what that is?

https://www.kasikornbank.com/EN/personal/Debit-Card/Pages/web-card.aspx

 

 

[CharlieH]

A Troll remark and subsequent responses have been removed.

[moogradod]

1 hour ago, macahoom said:

...........................

Some banks insist on double the amount of your card limit; others, like Krungsri, may not be so unreasonable but will still insist on more than your credit limit .  

With Krungsri it is 10%. When you have a Thai wife, you can get a partner card. Both are "real" credit cards - this is coded in the number the card has and for some transactions (although rare) it NEEDS to be a credit card. For your wife to GET a credit card in the first place she does not need to have income - but she should have a big enough bank balance on an account with the bank issuing the card. The only thing is that you cannot withdraw money from an ATM with this credit card then.

[KannikaP]

1 hour ago, CALSinCM said:

There is too much risk involved in exposing my actual bank account using a debit card.  You see where I'm coming from?

NO. Why not simply keep a 'reasonable' amount in the Debit Card account, have another account with the same bank and transfer as & when needed.

19 years with Bkk Bank with a Debit/ATM Card and never any problems whatsoever.

The idea of a CREDIT Card is that you can use it to pay for stuff which you do not have the money for, and you pay interest on what you borrow. How can it be a Credit Card if you have to have at least double the credit limit in the bank. Why not simply pay with that money?

Edited July 19, 2021 by KannikaP

[The Hammer2021]

Just get a transfer wise account and use that card. Or when paying Lazada just pay by bank Transfer. Credit cards are issued a lot less easier here than in the west.

[CharlieH]

3 minutes ago, KannikaP said:

NO. Why not simply keep a 'reasonable' amount in the Debit Card account, have another account with the same bank and transfer as & when needed.

19 years with Bkk Bank with a Debit/ATM Card and never any problems whatsoever.

This is what I and many do, have a holding account with the larger sum in it which has NO card etc. Then you have another account for your monthly expenses which has an atm card etc which is fed by the holding account.

[Salerno]

23 minutes ago, The Hammer2021 said:

Just get a transfer wise account and use that card.

Not that easy; they don't issue them in Thailand (obviously can work around that if still have contacts back home).

[KannikaP]

23 minutes ago, The Hammer2021 said:

Just get a transfer wise account and use that card. Or when paying Lazada just pay by bank Transfer. Credit cards are issued a lot less easier here than in the west.

A WISE (formerly Transferwise) is still a Debit card, you can only spend what you put on it. The OP wants a Credit Card, where he can only spend HALF of what he puts aside for it. LOL

[CALSinCM]

1 hour ago, KannikaP said:

Bkk Bank with a Debit/ATM Card

Is you Bangkok Bank debit card a Visa card or Mastercard?

[Rimmer]

troll post removed

[CALSinCM]

1 hour ago, The Hammer2021 said:

Just get a transfer wise account and use that card. Or when paying Lazada just pay by bank Transfer. Credit cards are issued a lot less easier here than in the west.

Back to my original post.  This is about Credit Cards and not about other methods of payment like bank xfers to Lazada. 
I have other reasons to get a Visa or Mastercard.

[CALSinCM]

2 minutes ago, CALSinCM said:

Back to my original post.  This is about Credit Cards and not about other methods of payment like bank xfers to Lazada. 
I have other reasons to get a Visa or Mastercard.

The suggestions for using a debit card make sense but I'd need a debit card that is accepted as a Visa or Mastercard.