Credit card. 1- prepaid? or, 2- fixed limit?

[Grin Grasser]

Where in Pattaya, can I get a pre-paid credit card (not debit card) or a credit card that allows charges up to the limit that has been placed on the credit card?

 

My guess is that in Thailand, only a bank can issue a credit card.  Correct?

 

By comparison, a few stores in USA, like Dollar General or Dollar Tree, sells pre-paid cards, sponsored by different companies.  You pay a fee for the card.  You pay the amount of credit on the card to the store.  You pay a fee for each charge made on the credit card.  Advantage is that any non-authorized use of the credit card is limited to the amount of credit on the card.  You pay another fee when you refill the credit on the card.

 

In the Philippines, at least one bank in Manila will issue a credit card, but backed by a set limit you select, which is kept in your bank account. 

 

Does Pattaya have a similar type of credit card?

 

Thanks in advance.

 

 

[bbko]

True Money Wallet or True Money Wecard sounds like what you're asking about, you can add money and then spend it where ever it's accepted. 

[Digitalbanana]

14 minutes ago, Grin Grasser said:

In the Philippines, at least one bank in Manila will issue a credit card, but backed by a set limit you select, which is kept in your bank account. 

 

Does Pattaya have a similar type of credit card?

I got a KBank credit card. Stick money in a fixed dep account as collateral, and can get credit up to that amount.

[KannikaP]

I have a card on which I can spend up to the amount I have deposited in an account. It is called a DEBIT card.

Surely by definition, a CREDIT Card allows you access to money which is not yours, but which you will pay back with interest.

Edited December 22, 2021 by KannikaP

[jacko45k]

My Bangkok Bank CC is a bit like a pre-paid one, had to open a fixed deposit acct equal to my 'credit' limit. No point going on about what they do in the USA, we have inconsistency here between banks and branches!

[PeachCH]

 

In the Philippines, at least one bank in Manila will issue a credit card, but backed by a set limit you select, which is kept in your bank account. 

 

WHICH ONE? 

[Grin Grasser]

On 12/23/2021 at 7:49 AM, PeachCH said:

 

In the Philippines, at least one bank in Manila will issue a credit card, but backed by a set limit you select, which is kept in your bank account. 

 

WHICH ONE? 

 

I cannot at this moment recall the name of the Manila bank.  Mainly because it was taken over by the Philippine National Bank (btw, not a national bank) and re-named PNB.  So, that bank is gone.  But, I presume other Manila banks have similar credit card practice.  About a year later, all the PNB bank fees were increased.  Too money-hungry for me.  So, the PNB credit card would not be of interest to me.

 

I forgot to mention that I did find a pre-paid credit card issued by BPI, Bank of the Philippine Islands.  I paid about 300 pesos for the application and card for one year.  No fee to deposit money for credit on the card at any BPI branch.  About 2-3 percent fee for an international charge, mainly for a bus ticket between Bangkok and Pattaya.  A small fee to phone and obtain a recording stating my balance.  A fee, if the card is not used for 2 or 3 month.  I used up the remaining balance on the card by buying groceries at a supermarket and paying the difference in cash.

 

However, I did not renew the BPI pre-paid credit card for a 2nd year.  Because I phoned for a balance usually before and again after a transaction.  One time, I did not conduct the anticipated charge transaction.  A week later, I phoned for a balance.  It had dropped by 99 pesos.  I went to a BPI branch and showed my photos of the two balances  (SMS texts on my cell phone).  I asked the branch staff to check the transaction history and explain the 99 peso charge.  Two weeks later, the staff said that the 99 peso charge was not on the card history.  Mysterious disappearance.

 

Note that the pre-paid credit card sold at 7-Eleven or similar convenience stores in Manila have higher and additional fees.

 

[Grin Grasser]

On 12/22/2021 at 6:27 PM, KannikaP said:

I have a card on which I can spend up to the amount I have deposited in an account. It is called a DEBIT card.

Surely by definition, a CREDIT Card allows you access to money which is not yours, but which you will pay back with interest.

Correct.  I agree.  But, a credit card is usually backed by a worldwide organization, eg, Mastercard and Visa.  If there is a problem with the charge transaction, you can have Mastercard or Visa stop payment. 

[Grin Grasser]

On 12/22/2021 at 6:03 PM, Digitalbanana said:

I got a KBank credit card. ... a fixed dep account as collateral, and can get credit up to that amount.

FIXED deposit?  Does that mean you cannot increase or decrease the amount on deposit, as needed?

 

A pre-paid credit card is limited to the credit already on the card and not spent PLUS the amount you deposit next on the card.

 

No need to answer.  I will ask at KBank and Bangkok Bank.

[Grin Grasser]

On 12/22/2021 at 5:55 PM, bbko said:

True Money Wallet or True Money Wecard sounds like what you're asking about, you can add money and then spend it where ever it's accepted. 

Thanks for the info.  I went to a True office.  The True staff had no literature, but explained that Wallet was an app and can be loaded at 7-Eleven or a True office.  The True web site said, WeCard was a pre-paid credit card.  It seemed to indicate that it is a "virtual card".  I could not find anything on fees for either the Wallet or WeCard.  Like I tell sales clerks in stores when I find an item without a price tag, "this is free because it has no price on it".

[JAS21]

I have a Bangkok Bank Credit card and yes they have locked some money away.

 

If I know that I have a big bill to pay I can load the card Also on one occasion they allowed me to pay a bill above the amount locked away.

 

I always pay off the full amount each month.

 

Recently Citi Bank have given me a Credit Card and have not asked for money to be locked away… I do not have a work permit. They just ask that I pay the full amount off every month.. they gave a limit of 160,000thb

[Moonlover]

What you're searching for @Grin Grasser is a pre paid cash isn't it. Try this one from Taiger.

 

https://thethaiger.com/finance/cash-card/

[jacko45k]

10 hours ago, Grin Grasser said:

Correct.  I agree.  But, a credit card is usually backed by a worldwide organization, eg, Mastercard and Visa.  If there is a problem with the charge transaction, you can have Mastercard or Visa stop payment. 

I have wondered if that would be the case on a Thai card.... we see so many 'No Refunds' signs and I have been subjected to a percentage surcharge a few times for using one. 

[Klonko]

I tried the virtual credit card from True but  could not use it to book flights. Many car rental companies do not accept prepaid credit cards. Booking flights online with my preferred airline requires a credit card.  Paying with foreign currency credit cards in Thailand goes with unfavorable FX rates. Therefore, without working income, I ended up with the above mentioned credit card from Bangkok Bank against fixed deposit. I would be interested in respective  experiences with other Thai banks.

Edited December 26, 2021 by Klonko

[Hamus Yaigh]

On 12/22/2021 at 6:27 PM, KannikaP said:

Surely by definition, a CREDIT Card allows you access to money which is not yours

I don't think anyone allows access to money you don't have? Credit cards all need collateral of some kind. Those with a regular job may use that, others need a fixed account in a bank. I have both a CREDIT and DEBIT card from my Thai bank. They are not the same, a hotel check in made that clear to me.

[KannikaP]

12 hours ago, Moonlover said:

What you're searching for @Grin Grasser is a pre paid cash isn't it. Try this one from Taiger.

 

https://thethaiger.com/finance/cash-card/

Is this allowed on ANow?   LOL

[Richard 2020]

I have a real credit card -VISA- from bangkok bank.
The only, actually a joke, that there is -no- credit with it!
I have to create a savings account with fixed deposit, and up to this amount that is on the savings account, I can spend with the VISA Card!
Can but if necessary with the app on the phone, at any time from the Saving Acc. Money on my -VISA Card- transfer.

The card is actually also intended only for emergencies!

Since I have no work permit is the only way to get a VISA Card!
The bank is afraid that the Farang says goodbye from Thailand without balancing his credit card ... ;-)

 

[Moonlover]

10 minutes ago, Richard 2020 said:

I have a real credit card -VISA- from bangkok bank.
The only, actually a joke, that there is -no- credit with it!

The main feature that differentiates a credit card from a debit card is this. If you make purchase and you pay for that purchase some time in the future, (typically up to 56 days) then it's a credit card. If the money is deducted immediately, it's debit card. The function and the difference is in the name.

 

It's a common banking practice, worldwide to insist that foreign nationals provide collateral to cover a credit card account. Exceptions are sometimes made if that foreigner is working and paid within the country.

 

The O/P indicates he doesn't want either and I've already put him onto a potentially helpful link.

[jacko45k]

6 hours ago, Hamus Yaigh said:

They are not the same, a hotel check in made that clear to me.

I know sometimes a hotel can secure a deposit transaction as security with a CC.... happened to me in Bali. When I checked out and paid cash it was released. Can a debit card do that?

[Mr Meeseeks]

I have several credit cards, personal and corporate, with KTB and KBank and never have been asked to put money in an account to cover charges. Perhaps this is a perk of being a work permit holder?

 

I have absolutely no debt on the personal cards anyway, and if I use them they are paid off almost straight away.

[Hamus Yaigh]

16 hours ago, Mr Meeseeks said:

Perhaps this is a perk of being a work permit holder?

Yes. It is all explained in posts prior to yours.

[Richard 2020]

So, even if I had to give a security in the form of a fixed account ,it is still 100% a credit card.
Ale payments are only charged 4 weeks later on my normal account!

 

I do not have a work permit, therefore the security deposit!

[Grin Grasser]

On 12/25/2021 at 9:52 PM, Moonlover said:

What you're searching for @Grin Grasser is a pre paid cash isn't it. Try this one from Taiger.

 

https://thethaiger.com/finance/cash-card/

I followed up on the cited link.  Thaiger web site cited many advantages of the Cash Card, but nothing about conditions and fees.  I clicked on a link to contact me and had to give name and phone number.  Afterwards, its response was that they were short of staff and it would take some time to phone me.

 

I waited for several weeks (now over two months).  No calls, except I began to receive some robo-calls (pre-recorded messages spoken in Thai.  Related to The Thaiger?  I do not speak, understand, or read Thai.  I guess their cash card is not functional.

 

Thanks all for your comments.  I guess if I really need a credit card, then opening another bank account with limited funds could function as a pre-paid credit card.

 

Thanks again.