Problems Applying For A Thai Credit Card

[Richard W]

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...

Does Thailand have debit cards? I've never had any problems using them where credit cards are called for, and they can be cheaper.

[skint_mak_mak]

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?

You both have extremely experienced anwers on this subject and i'm sure that with the incomes you obtain have other altrenatives here.

What do you think?

Isn't it possible to run off your foreign credit cards?

[PvtDick]

Thailand does have debit cards. Most ATM cards serve the dual function.

If your money is overseas, sure it's possible to run off of foreign credit cards. If you are earning and accumulating money in Thailand, though, you might as well spend it here. Local credit cards fit the bill.

[cdub]

I had the same problem when applying for a credit card (Visa).

Our company had bank account at Bangkok Bank. I have my personal account there, where my huuuuuuuuuuuudge salary is wired each month.

I m here since 2 years. (work permit and everything)

Our banker said : "you have to get another account with fixed deposit of twice the credit line you want with the card. IT IS NEW BANK OF THAILAND REGULATIONS".

Here are thoses new regulations about credit cards (took from the BOT website).

New Regulations

( BOT notification dated 23 March 2004)

Basic cardholders

Either one of the following qualifications shall be met:

• Having income of not less than 15,000 baht per month or not less than 180,000 baht per year

• Having a deposit at the card issuer bank as a collateral for the full amount of credit line. (This qualification is not applicable to non-bank credit card issuers.)

• Having cash flows circulated in a deposit account at least 6 months so that a credit card issuer considers his or her financial status sufficient for making debt payments under the credit card.

Supplementary cardholders

So I think it is pure bullshit : the banker simply do not his job properly. "Either one of the following qualifications shall be met" it is very clearly stated.

Now we have to find out if on such regulation, another regulation specific to foreigners shall apply.

[sas_cars]

I think,the possible and approvable scenario for a thai credit card is that an expat is at least having a good salary,not lower than 35 k and employed at least for a year.With proof of income i.e. payslips or bookbank.He will be easily approved by smaller banks such as standard chartered,HSBC ,Bank of asia etc. But for larger banks such as SIAM,BANGKOK BANK and THAI FARMER,it will be harder to approve for lower salary paid farangs.

[ProThaiExpat]

It is relevant to this thread as to many others that TIT.

Yesterday, I went into AIS to add overseas call capacity to my AIS sim card number I use for internet access via GPRS and I have that capacity on my other AIS sim card cell phone.

What a run around. Dispite the fact that I have had a AIS sim card for three years, impeccable bill paying history and many overseas calls, they wanted an Embassy residence letter to add overseas calling to this, the second sim card.

While I didn't say anthing, the steam comming out of my ears was visible to all. I will not pay the U.S. consulate $50 for a residence certificate so I can get the additional service. Rational minds would conclude my credit history with AIS would be far more probative than a purchased residence certificate, but who said Thai staff are rational or think at the level I was dealing with. They even called headquarters to no effect. Mai pen rai.

Will add my name to the house registration at the Ampur, no cost, and that should do it, as they did first mention house registration as a means of satisfying them. Will report after next attempt.

[Crash999]

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?

Hey what's wrong with Piano and Orbit? Don't want to bring a big wad of cash to buy my memberships with.

I have a Citibank card here and I must say I've been happy with it. It's a Royal Orchid card meaning I get points each months that I can convert into Thai Airways miles- so I take every opportunity to put businesses expenses on the card and rack up miles.

The negative is that when I first applied for the card there was no Thai credit ratings agency, so my limit was set at a relatively paltry 300k baht. Though I rarely have a credit card bill that high, I do like to have the extra credit available in case of emergencies.

[Crash999]

Yesterday, I went into AIS to add overseas call capacity to my AIS sim card number I use for internet access via GPRS and I have that capacity on my other AIS sim card cell phone.

Can't remember the process involved (though I'm sure it didn't involve proof of residency) but I remember it being a real pain in the ass to add roaming to my mobile phone.

The problem may not necessarily be AIS - the CAT is involved and anything they touch is always twice as difficult and four times as slow as it should be.

Think twice if you want roaming for personal calls- it's *######* expensive and you'll get at least three bills for each overseas trip you take.

As an alternative I read in the paper the other day that DTAC is launching an overseas pre-paid roaming service. Might be a good alternative for us farangs.

[sas_cars]

if generally comparing to other countries,i think getting a thai credit card for an outside is much easier.I agree.

[thaihome]

I will not pay the U.S. consulate $50 for a residence certificate

Not that it will make you feel much better, but the notary fee was reduced to $30 ($20 for each additional seal) a couple of years ago.

TH

[frogmo1]

Having worked in Thailand for three years, I recently applied for a credit card with Siam Commercial Bank. It arrived by registered mail a couple weeks laterwith an appropriate credit limit. The application form (in Thai) was simple to fill out and no rip-off fee was charged to apply. As for consumer protection, there isn't much here for credit card or identity theft fraud. Nonetheless, there are times I'm glad to deal with a local bank where at least some of the clerks know who I am.

[Sel]

May help some people or get them into more debt. If you want a credit card and have a Thai partner earning over the requirements then get them to get you an additional card. Don't know what the credit limit is but it's reasonable. I just had to show a photocopy of a non-imm to get an AMEX. But VISA card wanted a work permit I think? no minimum income, bank balances or other requested. A lot of places in thailand don't accept amex, though internet always does. There are lots of commision based credit card sales people around that jump through hoops if there is a chance to get another customer and you don't have to pay fees for the first year. They're as thirsty as Amway reps.

It's interesting that the Thai economy at least last year was growing/recovering based on consumer spending, correspondingly credit card use has grown in leaps and bounds. Until some time last year minimum for a credit card was set at about 15,000 from memory. Now it's at 7,000. What % of the population earns over 7,000? per month? I presume most employed uni grads and apparently a large proportion of them are currently unemployed. When the economy needs a bit more of a show from the Thai Love Thai party does the limit get lowered to what most Thais' earn (3500 baht) I definately think that the majority of Thais are irresponsible when it comes to debt repayment.