Keeping Credit Cards Active as an Expat

[JimmyJ]

"Expats keeping a phone number in their citizenship country...".

Edited April 2, 2022 by JimmyJ

[ThailandRyan]

8 minutes ago, JimmyJ said:

 

Use Google voice if your from the US, its free and you get a number as well from a US location.  This is the number I have added to my CC and bank accounts.  Just opened up a new HY Amex savings account as well, not really HY but its a lot better than a CD.  When I was back in the US for my 6 week trip I also bought I-Bonds after cashing in my 20 years old EE bonds.  Bought the EE bonds for $50 and cashed them out at $256.  I know its not a great return for 20 years but its better then the banks are paying now.  CC APR rates are between 16% and 24%, with Cash advances costing a pretty penny, sure glad I do not have to run balances and take cash advances like I used to 10 years ago.  

 

To keep the CC issuers happy I purchase some of my groceries on-line from Villa using the Amex and Barclays Black Card, then pay them off as soon as the transactions hit the accounts, and yes those cars have no international fees, those are the CC's folks should be carrying.  

[chipkimberimd]

On 3/31/2022 at 10:32 PM, mtls2005 said:

There are far too many variables. known only to you, for anyone to make any sort of blanket recommendation.

 

Will you stay in thailand permanently? Return to the U.S. often?

 

Depends on the banks, cards, financial services companies, your state, who manages the mail, state taxes, jury duty, credit reports......

 

Personally I maintain an address in the U.S., family member, and have done so for ~ 15-ish years. I've encountered no issues. I've changed my address with SSA and the IRS to thailand.

 

Some things I can recommend: sort out telecommunication requirements BEFORE leaving. Have one, two or even three options - mobile phone numbers, security key - for receiving 2FA OTPs. Target at least one which offers WiFi calling.

 

And register for all the government/private pension service options: login.gov, id.me, mySSA, etc.

 

Set-up any standing international wire transfer orders BEFORE leaving, this assumes you have a thai bank account already. Recommend Bangkok Bank and SCB.

 

Get at least two or three credit cards which offer no foreign transaction fee (Cap1, Chase Sapphire Preferred, BofA Travel Rewards).

 

Get at least one ATM Debit Card which offers ATM fee refunds: Schwab or Fidelity.

 

Get familiar with all finserv online and mobile app usage.

 

 

 

 

 

 

 

 

 

Thanks for that. I have most of the above ready. I plan on pretty much staying in Thailand for the foreseeable future, going home the the US for funerals to be honest.

 

I will keep my bank account open in the US and maintain an address there as well through a relative.

 

I have an emergency fund in cash, but like to keep my credit cards active just in case of a larger emergency or simply having them available for whatever. 

[chipkimberimd]

On 4/1/2022 at 1:58 AM, Pumpuynarak said:

''Use it or lose it" is my experience.

 

Having previously had a UK credit card account closed by the provider due to lack of use despite being in credit !!! i now use my CC a couple of times a year here in Thailand. Prior to use i inform them online of my intended travel to Thailand despite the fact that i live here, that ensures they don't decline the transaction.

 

I have no intention of informing them that i live in Thailand and thus giving them the opportunity to close the account. I use a UK address that i used to own but is now owned by my son.

 

My new cards are sent to my son's address in the UK and he sends to me by secure post.

 

 

 

 

 

Thanks for that. I had not thought of this. Just advise I am traveling to Thailand a couple times per year and use the card.

 

I like this.

[mtls2005]

10 hours ago, chipkimberimd said:

I will keep my bank account open

Consider a second and third bank/finserv option: State Department Federal Credit Union (SDFCU), Fidelity, Schwab.

 

 

10 hours ago, chipkimberimd said:

but like to keep my credit cards active

Without an understanding of the card(s) details, maybe use some occasionally for gifts and services in the U.S. Make sure you have at least one, preferably two, cards which have no foreign transaction fee.

 

https://www.nerdwallet.com/best/credit-cards/no-foreign-transaction-fee

 

https://www.bankrate.com/finance/credit-cards/no-foreign-transaction-fees/

 

https://thepointsguy.com/credit-cards/no-foreign-transaction-fees/

 

 

10 hours ago, chipkimberimd said:

Just advise I am traveling to Thailand a couple times per year and use the card.

Yeah this really isn't a thing anymore. Most banks/CC don't even have a mechanism anymore for documenting travel. 

 

Just make sure you download and use their app., and web portal. Set up alerts.

 

 

[Karma80]

On 4/1/2022 at 1:03 PM, Gottfrid said:

Yes, which makes a Thai credit card a really bad affair. Better to have access to the money instead, and repay your own account with no interest. ???? 

A decent solution I found is the SCB planet card. It's a prepaid VISA card that you transfer money off and on as you need instantly. Worked in every situation where a debit card has not. Saves tying up cash in a deposit account.

 

No international transaction fees and multi currency. https://www.scb.co.th/en/personal-banking/cards/prepaid-cards/planet-scb-card.html

[Lacessit]

My policy is always to volunteer as little information as possible to any financial or government body. With data matching, they will soon be able to tell us what we had for dinner last night.

To keep an account active, my method is to make a small purchase on Amazon, Lazada or the like every month or so.

[Robin]

I have been living in Thailand for some years with UK credit cards and keeping UK bank and address.  No problems with using CC for air ticket or general use in Thailand, but i also have a K-bank card for Thailand.

One problem I have found is that in UK Mastercard, and probably Visa will not send a new Card to Thailand, not even by DHL, so you will have to return to your home country to get a new card.  

Best to have two different cards with expiry dates well spaced, so you are never caught in Thailand with card expired.

My experience is that Card issuers are good at spotting 'unusual activity' on your account, and can also adjust to your normal way of life.

Consider also getting local Card, but beware that some do not automatically allow on-line purchase or have low transaction limits.  Check with you bank in Thailand.

I seem to remember that once Mastercard blocked the purchase of an air ticket to UK, but easily cured by one phone call to MC.