Problems Applying For A Thai Credit Card

[sas_cars]

Hi there

I recently applied for a credit card at Siam Commercial Bank,But i was refused by them stating the reason that my salary doesn't meet the minimum requirement to approve.My salary is 35K right now.They told me that although for a thai,the minimum salary requirement is 15K ,for a foreigner,the minimum requirement is 50K.is it true?anyone had any experiences ?

[dr_Pat_Pong]

Hi there

I recently applied for a credit card at Siam Commercial Bank,But i was refused by them stating the reason that my salary doesn't meet the minimum requirement to approve.My salary is 35K right now.They told me that although for a thai,the minimum salary requirement is 15K ,for a foreigner,the minimum requirement is 50K.is it true?anyone had any experiences ?

Check out the new pay rates applicable to foreigners from this July.

[GuestHouse]

Think very carefully before getting a Thai credit card. They carry very little of the protection that US/European or Oz/NZ cards carry.

Loose the card, have it cloned or double swiped and you could wind up paying all the illegal usage.

It has happened to friends of mine and I have heared of it happening to others too.

In one instance a Thai member of our staff had her card stolen, she reported it to the police and called the bank but she was liable for all the charges against the card until she actually went to her own branch to report the loss. Her bank was in Phitsanalok, she was in Chonburi and it took her two days to get to her branch by which time she was left with tens of thousands of debt on her card.

Despite having a police repoort receipt issued less than two hours afer the card was stolen.

[Sumitr Man]

Hi there:

This is actually a Bank of Thailand rule and there is nothing the banks themselves can do about it. All minimum salary thresholds are actually set by the BoT (also the maximum interest rate that banks can charge on Credit Cards).

You'll also need to show that you have a Work Permit.

[Dutchy2]

Hi there

I recently applied for a credit card at Siam Commercial Bank,But i was refused by them stating the reason that my salary doesn't meet the minimum requirement to approve.My salary is 35K right now.They told me that although for a thai,the minimum salary requirement is 15K ,for a foreigner,the minimum requirement is 50K.is it true?anyone had any experiences ?

You wonder why people still want to work in this country. This is one of the very few countries with laws for foreigners and for natives, discrimination in its purest form.

Thais can get a credit card by the way when they earn at least 7000 baht per month.

Good luck

[PvtDick]

I see nothing discrimatory about this. Foreigners obviously pose a much higher credit risk than locals do -- they can disappear to overseas much more easily than a Thai can, and getting any legal relief once they are gone is impossible. I would impose the exact same restrictions if I were a credit-giving institution.

[PvtDick]

Think very carefully before getting a Thai credit card. They carry very little of the protection that US/European or Oz/NZ cards carry.

Loose the card, have it cloned or double swiped and you could wind up paying all the illegal usage.

It has happened to friends of mine and I have heared of it happening to others too.

In one instance a Thai member of our staff had her card stolen, she reported it to the police and called the bank but she was liable for all the charges against the card until she actually went to her own branch to report the loss. Her bank was in Phitsanalok, she was in Chonburi and it took her two days to get to her branch by which time she was left with tens of thousands of debt on her card.

Despite having a police repoort receipt issued less than two hours afer the card was stolen.

My local Thai HSBC card was compromised earlier this year while I was on a trip to Europe. I had no idea until I got back and found all these charges on my bill from countries I hadn't even visited.

It took exactly one phone call to HSBC to get the matter straightened out and the charges reversed.

[Dutchy2]

I see nothing discrimatory about this. Foreigners obviously pose a much higher credit risk than locals do -- they can disappear to overseas much more easily than a Thai can, and getting any legal relief once they are gone is impossible. I would impose the exact same restrictions if I were a credit-giving institution.

I thought you were a native speaker but I can also spell it out for you. According to the Merriam Webster online dictionary:

Main Entry: dis·crim·i·na·tion

the act, practice, or an instance of discriminating categorically rather than individually

I hope this makes it easier to understand. Higher salary requirements also allow for higher withdrawels, instead of a limit of 20.000 baht, 40,000 or 70,000 etc baht will be allowed. When one wants to take off to another country one still can do it, only with more money now. Your argumentation is conclusively not really valid, I guess you must have been in LOS for a long, long time... you start to think like Thais do...

[GuestHouse]

It took exactly one phone call to HSBC to get the matter straightened out and the charges reversed.

HSBC is an international bank, I'm pleased to hear you had a good response from them. I would be surprised to hear the same from a Thai bank.

[PvtDick]

I see nothing discrimatory about this.  Foreigners obviously pose a much higher credit risk than locals do -- they can disappear to overseas much more easily than a Thai can, and getting any legal relief once they are gone is impossible.  I would impose the exact same restrictions if I were a credit-giving institution.

I thought you were a native speaker but I can also spell it out for you. According to the Merriam Webster online dictionary:

Main Entry: dis·crim·i·na·tion

the act, practice, or an instance of discriminating categorically rather than individually

I hope this makes it easier to understand. Higher salary requirements also allow for higher withdrawels, instead of a limit of 20.000 baht, 40,000 or 70,000 etc baht will be allowed. When one wants to take off to another country one still can do it, only with more money now. Your argumentation is conclusively not really valid, I guess you must have been in LOS for a long, long time... you start to think like Thais do...

OK, Mr. Smart Guy...if it is literally "discriminatory", then it is a valid type of discrimination. Credit cards are issued, and credit limits set, based on the perceived level of risk presented by the applicant. Do you believe that a foreigner with salary of 7,000 baht presents the same level of risk as a Thai with a salary of 7,000 baht? Or don't you live in the real world?

[sas_cars]

haven't got answer yet! has anyone here applied for a thai credit card?and what the bank required? minimum salary requirement?

[george]

A Thai credit card requires a work permit, so if you are from a western country it means at least 60-70,000 Baht/month (the minimum required salary).

[PvtDick]

I have local credit cards from HSBC, Krungthai Bank, Amex, Diners Club, and Citibank (both Visa and MasterCard) -- not to mention Central Department Store. I can't tell you what the minimum salary requirements are, but I have never been turned down or unduly questioned.

[Dutchy2]

I see nothing discrimatory about this.  Foreigners obviously pose a much higher credit risk than locals do -- they can disappear to overseas much more easily than a Thai can, and getting any legal relief once they are gone is impossible.  I would impose the exact same restrictions if I were a credit-giving institution.

I thought you were a native speaker but I can also spell it out for you. According to the Merriam Webster online dictionary:

Main Entry: dis·crim·i·na·tion

the act, practice, or an instance of discriminating categorically rather than individually

I hope this makes it easier to understand. Higher salary requirements also allow for higher withdrawels, instead of a limit of 20.000 baht, 40,000 or 70,000 etc baht will be allowed. When one wants to take off to another country one still can do it, only with more money now. Your argumentation is conclusively not really valid, I guess you must have been in LOS for a long, long time... you start to think like Thais do...

OK, Mr. Smart Guy...if it is literally "discriminatory", then it is a valid type of discrimination. Credit cards are issued, and credit limits set, based on the perceived level of risk presented by the applicant. Do you believe that a foreigner with salary of 7,000 baht presents the same level of risk as a Thai with a salary of 7,000 baht? Or don't you live in the real world?

This needs no further comment

[Dancali]

If it doesn't need further comment, that is because it's probably true.

Irrational discrimination sucks (hating black people because they're black).

Rational discrimination can suck too, but it is, at least, rational. This is the idea of an employer in the old American South having nothing against black people, but nonetheless not hiring black people because he knows it might drive his customers away.

This Thai bank situation is a form of rational discrimination.

[Digger]

Hi there

          I recently applied for a credit card at Siam Commercial Bank,But i was refused by them stating the reason that my salary doesn't meet the minimum requirement to approve.My salary is 35K right now.They told me that although for a thai,the minimum salary requirement is 15K ,for a foreigner,the minimum requirement is 50K.is it true?anyone had any experiences ?

You wonder why people still want to work in this country. This is one of the very few countries with laws for foreigners and for natives, discrimination in its purest form.

Thais can get a credit card by the way when they earn at least 7000 baht per month.

Good luck

I am not so sure its law's more just common credit rating assessment. Try getting a credit card in the US as a foreigner and you will know how difficult it can be. Until you have built up a credit history nobody will touch you, but as nobody will touch you, you cannot build up a credit history

In Singapore, its very difficult to get a credit card unless you are a highly paid expat with a P1 category on your work permit (salary higher than about S$7,000 from memory).

In Australia, also very difficult. Cambodia, Vietnam, Indonesia - your dreaming to expect a card easily.

[juji]

I really wonder why anyone wants, let alone needs a credit card in Thailand. The only places I can think of where one can get London-style extravagant are the hostess bars of Ekkamai and Suhkumvit ... perhaps our erstwhile applicant is paying a few too many visits to Piano and Orbit?

[KenUdon]

You wonder why people still want to work in this country. This is one of the very few countries with laws for foreigners and for natives, discrimination in its purest form.

Thais can get a credit card by the way when they earn at least 7000 baht per month.

Surely we all know how trustworthy Thais are when it comes to paying their debts..

[Dutchy2]

I really wonder why anyone wants, let alone needs a credit card in Thailand. The only places I can think of where one can get London-style extravagant are the hostess bars of Ekkamai and Suhkumvit ... perhaps our erstwhile applicant is paying a few too many visits to Piano and Orbit?

To buy over the internet for instance, there's a whole world out there you know. Thailand is pretty small...

[ProThaiExpat]

Speaking from personal experience: I have a Thai credit card issued by Bangkok Bank and no issue of income was raised as I am retired. I did have 2 million baht on deposit at the time.

Likewise, I requested a 30k Baht limit on the account for security reasons and my Thai loves's fiscal responsibility. It is paid monthly by an automatic withdrawal from a joint account which is funded by me as approved of purchases are made.

When the gold AMEX promotion was launched, I applied and was turned down "you don't have enough money in your bank accounts", even though I had 2 million baht in Thailand and many million bahts more overseas. My take is that AMEX did a credit check in the U.S. where I have one blip on my record. I do have a current Citibank Visa with 20K USD limit, with no balance.

I suspect whatever "reason" they give you for the turndown, it is a "save face" explanation, not reflecting the true reason. "Flight risk" would be a key determinative factor in any credit evaluation for a farang in Thailand in my judgement. Long stay retired with a relationship with a Thai, home, car all payed for, whould be certainly less of a flight risk than a non-imm B employed in Thailand on a one year contract and at a salary level lower than almost anywhere else in the world. Even high income expat employees of foreign companies are a certain flight risk every three years or less.

[PvtDick]

I really wonder why anyone wants, let alone needs a credit card in Thailand. The only places I can think of where one can get London-style extravagant are the hostess bars of Ekkamai and Suhkumvit ... perhaps our erstwhile applicant is paying a few too many visits to Piano and Orbit?

I earn money here, and keep money here. I need credit cards for both daily use, and for travel. I depend heavily on my Thai credit cards, and don't really understand why you can't see why an expat would need them.

[john b good]

I see nothing discrimatory about this.  Foreigners obviously pose a much higher credit risk than locals do -- they can disappear to overseas much more easily than a Thai can, and getting any legal relief once they are gone is impossible.  I would impose the exact same restrictions if I were a credit-giving institution.

I thought you were a native speaker but I can also spell it out for you. According to the Merriam Webster online dictionary:

Main Entry: dis·crim·i·na·tion

the act, practice, or an instance of discriminating categorically rather than individually

I hope this makes it easier to understand. Higher salary requirements also allow for higher withdrawels, instead of a limit of 20.000 baht, 40,000 or 70,000 etc baht will be allowed. When one wants to take off to another country one still can do it, only with more money now. Your argumentation is conclusively not really valid, I guess you must have been in LOS for a long, long time... you start to think like Thais do...

OK, Mr. Smart Guy...if it is literally "discriminatory", then it is a valid type of discrimination. Credit cards are issued, and credit limits set, based on the perceived level of risk presented by the applicant. Do you believe that a foreigner with salary of 7,000 baht presents the same level of risk as a Thai with a salary of 7,000 baht? Or don't you live in the real world?

Or don't you live in the real world?

Not sure just who is living in the real world but from what you have written it certainly can't be you.

Foreigners obviously pose a much higher credit risk than locals do That is just so much absolute horsesh1t.

I acknowledge that the potential for foreigners to do a runner is there but Thais are very well known for their levels of indebtedness.

After the financial crisis Thais owed 63 billion US dollars and much of this debt remains to this day.

Why do you think there are so many unfinished building projects and housing developments that still exist here today.

The Thai debtors just walked away.

It is sad but true that Thais have little or no responsibility or integrity when it comes to repaying debts (of any description)

Just one example of many that I can call upon. A female (very close to me) had a mobile connected to Dtac and after she run the bill up to several thousand baht (read 10,000++) they cut the service off. She was totally unconcerned, got another phone and signed up with AIS. Guess what? Another big bill unpaid and again the service cut off.

When you lend (or extend) money to a Thai you might just as well kiss your arse goodbye.

[PvtDick]

You obviously have little understanding of credit, or the legal processes involved when someone becomes indebted. As someone who often handles such cases for banks and credit card companies, I do have some knowledge that is not rectally located.

A Thai person is virtually tied to Thailand. Legal action can always be taken against him. If he flees Thailand, the creditor can make it impossible for him to renew his passport overseas. Besides, a Thai making 7,000 baht a month usually doesn't have the knowledge or funds to attempt to escape the jurisdiction. As long as he remains in Thailand, he can always be tracked down and the institution has a chance of getting its money back.

Thai banks would be virtually powerless to bring any action against a foreigner who did a runner. They would not be able to extradite him back to Thailand, and without the ties of citizenship, there is nothing that would ever force a foreigner to return.

If you're still too thick to see that a foreigner presents a higher risk, well, just go on believing you're a victim of racial discrimination.

[Dutchy2]

You obviously have little understanding of credit, or the legal processes involved when someone becomes indebted. As someone who often handles such cases for banks and credit card companies, I do have some knowledge that is not rectally located.

A Thai person is virtually tied to Thailand. Legal action can always be taken against him. If he flees Thailand, the creditor can make it impossible for him to renew his passport overseas. Besides, a Thai making 7,000 baht a month usually doesn't have the knowledge or funds to attempt to escape the jurisdiction. As long as he remains in Thailand, he can always be tracked down and the institution has a chance of getting its money back.

Thai banks would be virtually powerless to bring any action against a foreigner who did a runner. They would not be able to extradite him back to Thailand, and without the ties of citizenship, there is nothing that would ever force a foreigner to return.

If you're still too thick to see that a foreigner presents a higher risk, well, just go on believing you're a victim of racial discrimination.

Not in a good mood today PvtDick?

[PvtDick]

Not really, no. And I'm really sick and tired of low-level farangs griping about how the Thais don't roll out the red carpet for them and kiss their white god-man asses.

[Dutchy2]

Not really, no. And I'm really sick and tired of low-level farangs griping about how the Thais don't roll out the red carpet for them and kiss their white god-man asses.

I agree with you on this one. How dare the initial poster of this thread expect that a Thai bank will provide him with a credit card when he only makes five times the requirement for Thai nationals! Thailand does not need this 'low level farang' (probably a teacher anyway considering his salary) send them back to where they belong! It's outrageous to expect equal treatment in Thailand, this 'red carpet' only applies to Thais in their individual classes!

Dutchy

[sas_cars]

hi dutcy and PvtDick

I m the original poster of this thread.both u didnt' understand what i meant.I understand that foreigners pose higher risk than thais.I was just asking the minimum requirements from the persons who got experiences in getting a thai credit card.I thought that the reason for denial i.e. 50K minimum was a bit absurd.Tht's the reason I asked u guy.and I got my answer.Thanks for that.

Anyways I m not a low level farang.I m self employed and having cars business in thailand.The reason i stated my salary 35K in my company coz I did want to show more profit in my business.coz already 4 thais,monthly expenditures and a higher salary for me will leave the company having losses on record.

[azooba]

Hello guys.. 35 K per month is ENOUGH.

Two weeks ago I have applied for VISA card with Bank of Asia. My salary is exactly 35K. I did submit documents (bank transfer slip) showing my 35 K salary. Just yesterday the bank have called and confirmed my card will be ready for pick up in next three days. Though she told me that I will get SILVER status. When I asked her for the GOLD, she told that my salary should be min. 50 K per month.

Well guys try with Bank of Asia.

Looks like quite efficient. Good Luck.

[skint_mak_mak]

Hi there

          I recently applied for a credit card at Siam Commercial Bank,But i was refused by them stating the reason that my salary doesn't meet the minimum requirement to approve.My salary is 35K right now.They told me that although for a thai,the minimum salary requirement is 15K ,for a foreigner,the minimum requirement is 50K.is it true?anyone had any experiences ?

You wonder why people still want to work in this country. This is one of the very few countries with laws for foreigners and for natives, discrimination in its purest form.

Thais can get a credit card by the way when they earn at least 7000 baht per month.

Good luck

Yes

However, i'm sure the banks are also aware that many people who arrive on Thailands shores and join the expat community have a tendency to accumulate credit problems both before and after thier arrival.

I'm not saying it doesn't suck, but it's a common fact people abuse credit both here and in the west. Maybe it's just become slightly westernized, it's far more difficult to get credit these days in Asian countries due to high security and fraud.

What do you think?

[skint_mak_mak]

I see nothing discrimatory about this. Foreigners obviously pose a much higher credit risk than locals do -- they can disappear to overseas much more easily than a Thai can, and getting any legal relief once they are gone is impossible. I would impose the exact same restrictions if I were a credit-giving institution.

Yes, i agree.

I couldn't even imagine how many people have taken credit and ran. Probably the reason why they came here in the first place.