Krunk Thai Bank Rejects Issuing Visa Credit Card

[togena212529]

Dear Readers,

today received a short letter of KTC Krungthai Card Public Company Ltd. which told me I do not get a VISA Credit Card.

They did not give me any explanation for their rejection. This was reason enough to call their service department. But I shouldn't

have done that because it was a massive frustration again the only explanation was; "it is not allowed for them to tell me the reason for their rejection".

I was thinking about myself: Have I ever been a wrongdoer regarding my Baht-Account? No, I never have done somthing like that, I never ever was in the red zone of my account. My brain kept me very busy to find the right reason. Don't I have enough income or maybe enough mony in my account. No, that can't be the reason because my monthly income is approximetly 55 k and in my account is far above 500 K. Maybe that's it: I am a Farang that is the reason!

Does anyone know which Thai Bank is willing issuing Credit Cards to farangs?

I am waiting for your help and comments.

Many thanks for everybody who is able to help me.

[jumnien]

SCB does issue credit cards to farang.

[Bobegraves]

Kasikorn Bank gave me a credit card but only after working for my company for a year ( minimum requirement) Do you have a work permit? I would think that if you haven't then this could be the reason.

[onnut]

I have a ktc card, actually I have two of them with a limit of 400,000 baht, also can take cash to that amount out of the atm. plus I have one card from Ayudhya bank with a 300,000 limit. all 3 are platanum. so Farangs can get cards.

you need work permit

passport

6 months banking with one bank to show salary for last six months

plus someone Thai who can help you sort it out. try to get a Thai director from your company to go with you. it should not be a problem. unless you have bad credit history coz they do check.

[richard_smith237]

Dear Readers,

today received a short letter of KTC Krungthai Card Public Company Ltd. which told me I do not get a VISA Credit Card.

They did not give me any explanation for their rejection. This was reason enough to call their service department. But I shouldn't

have done that because it was a massive frustration again the only explanation was; "it is not allowed for them to tell me the reason for their rejection".

I was thinking about myself: Have I ever been a wrongdoer regarding my Baht-Account? No, I never have done somthing like that, I never ever was in the red zone of my account. My brain kept me very busy to find the right reason. Don't I have enough income or maybe enough mony in my account. No, that can't be the reason because my monthly income is approximetly 55 k and in my account is far above 500 K. Maybe that's it: I am a Farang that is the reason!

Does anyone know which Thai Bank is willing issuing Credit Cards to farangs?

I am waiting for your help and comments.

Many thanks for everybody who is able to help me.

With out a work permit I think its rather difficult bordering on impossible. I assume it has something to do with traceability and being a flight risk.

Banks do issue Mastercard Electron, which works as a debit card drawing money directly from your account and can be used much in the same way as a credit card, although I’m not sure of the limitations.

Also, I am not sure of this but will post anyway. I am of the understanding here that Banks do put the onus of responsibility for credit card fraud on the card holder, this could prove highly expensive with the high incidence of fraud in the region. Western Banks take this responsibility themselves.

[Bpraim1]

I have a credit card with both UOB & Krungsri bank

I do not have a work permit. I am on a non imm O visa , married.

First I had to put money into a term deposit. then they gave a card with 80% of term deposit.

After one year they opened the term and I could take money out and keep card with limit.

With work permit you will not have to put money up as Guarantee.

Must add same as last post, If your Thai card is stolden you are responcbly for the purchases untill you can cancel it. NO COVERAGE!!!

Remember Thai cards pack a 20% intrest rate and a 10% monthly payback! Not all 20% but most.

[true blue]

bangkok bank no proplem as long as you have twice the amount in your account as what your limit ie 10k limit 20k in account before you can use

[togena212529]

Thank you very much for everybody who replied on my posting.

My explanation for some of you is: I am a pensioner, married with a Thai wife and do have a non immigrant O visa. My account was opened up from 01.03.07 and I don't have any negative track record. As I wrote in my posting it can't be my monthly income and the money in my account. And I haven't done any fraud with credit cards. I really would be happy if you could come very close to the real reason. If all of you have got a real credit card (not a Visa debit card) it must be possilble to get one as well. Who is actually UOB Bank?

Thanks for your reply.

[singa-traz]

bangkok bank no proplem as long as you have twice the amount in your account as what your limit ie 10k limit 20k in account before you can use

Got mine at Bangkok Bank, and had a good laugh about the definition of "Credit Card", when I have to deposit twice the withdrawal limit

[JetsetBkk]

Got mine at Bangkok Bank, and had a good laugh about the definition of "Credit Card", when I have to deposit twice the withdrawal limit

Sounds more like a debit card. I didn't get - and don't want - a credit card. Just an ATM card suits me fine.

[Bpraim1]

United overseas Bank,

They bought out Bank of Asia

If you can get to the Future park Rangsit brank.

Take your wife, a copy of your pension income, passport, and ask for a lady named oil, or Jum.

They will walk you through the process. They can speak english.

You will need to put up money into a term account as guarntee, and get 80% of it as a limit. put in 100,000=80,000 limit.

You will get paid term deposit rates on your money. you can end card anytime but must wait for two months to get money back for term.

Let me know if you need more help

[togena212529]

United overseas Bank,

They bought out Bank of Asia

If you can get to the Future park Rangsit brank.

Take your wife, a copy of your pension income, passport, and ask for a lady named oil, or Jum.

They will walk you through the process. They can speak english.

You will need to put up money into a term account as guarntee, and get 80% of it as a limit. put in 100,000=80,000 limit.

You will get paid term deposit rates on your money. you can end card anytime but must wait for two months to get money back for term.

Let me know if you need more help

Thanks for your quick answer. Will come back in case I need more help.

Gerd

[Florin]

AMEX is far nicer than the local banks when it comes to issuing credit cards...so far, they seem to be the only institution here who actually WANT to give a farang a credit card, as opposed to the local banks, for whom we're just an unecessary extra headache.

If you look online at the requirements for Bank of Ayudhya's credit cards, they state that farangs have to have a MINIMUM of 3 years employment here before being granted a card - my father had employment in the same institution for not 3, but 6 years, with salaries coming every month into the account and a hefty amount of savings, yet was rejected with the same inane reason that was given to the OP of this topic. The h.ell with them, I say...banks like Ayudhya or Krung Thai are not for non-Thais, we're better of sticking to the likes of Kasikorn, at least they have the decency of correctly communicating with their customers.

[togena212529]

AMEX is far nicer than the local banks when it comes to issuing credit cards...so far, they seem to be the only institution here who actually WANT to give a farang a credit card, as opposed to the local banks, for whom we're just an unecessary extra headache.

If you look online at the requirements for Bank of Ayudhya's credit cards, they state that farangs have to have a MINIMUM of 3 years employment here before being granted a card - my father had employment in the same institution for not 3, but 6 years, with salaries coming every month into the account and a hefty amount of savings, yet was rejected with the same inane reason that was given to the OP of this topic. The h.ell with them, I say...banks like Ayudhya or Krung Thai are not for non-Thais, we're better of sticking to the likes of Kasikorn, at least they have the decency of correctly communicating with their customers.

Hi Florin thanks for your answer. I am sure the best would be in joining a more sophisticated farang bank. But who is actually AMEX? And it could be they are not here in our area (Angthong). The first time when I came to Thailand I opened up an account with Bangkok Bank and they acted on me like unlettered people and each time I converted foreign currency they gave me one of the worst exchange rate.

Greetings

Gerd

[WAERTH]

plus someone Thai who can help you sort it out. try to get a Thai director from your company to go with you. it should not be a problem. unless you have bad credit history coz they do check.

They check in Thailand or in your homecountry?

Walter

[hullmonkey1]

AMEX is far nicer than the local banks when it comes to issuing credit cards...so far, they seem to be the only institution here who actually WANT to give a farang a credit card, as opposed to the local banks, for whom we're just an unecessary extra headache.

If you look online at the requirements for Bank of Ayudhya's credit cards, they state that farangs have to have a MINIMUM of 3 years employment here before being granted a card - my father had employment in the same institution for not 3, but 6 years, with salaries coming every month into the account and a hefty amount of savings, yet was rejected with the same inane reason that was given to the OP of this topic. The h.ell with them, I say...banks like Ayudhya or Krung Thai are not for non-Thais, we're better of sticking to the likes of Kasikorn, at least they have the decency of correctly communicating with their customers.

Hi Florin thanks for your answer. I am sure the best would be in joining a more sophisticated farang bank. But who is actually AMEX? And it could be they are not here in our area (Angthong). The first time when I came to Thailand I opened up an account with Bangkok Bank and they acted on me like unlettered people and each time I converted foreign currency they gave me one of the worst exchange rate.

Greetings

Gerd

AMEX = American express

[Scott]

I got a credit card from Kasikorn bank. I have a work permit (and visa), but it needed to be within the FIRST 6 months of it. Also--and this was a big pain--I needed to have a compilation of my last 6 months transactions--not just the bank book. Had to go to my branch and get them to put together all transactions for the last 6 months. It cost 200 baht and took two days. I don't understand that one since the credit card was from Kasikorn bank. You'd think someone could just check the computer!

Other than a lot of paperwork (copy of my work contract, letter from my employer); it was no hassle and the approval was reasonably quick.

[Furbie]

Getting a CC as a foreigner in Thailand is an interesting experience to say the least. I am always up for a good bash of the Thai system; but let's face it, I would not issue an unsecured credit card to someone who did not have the means to pay it back or who I felt my leave the country next week sticking me with the bill. They are really careful with this as it is too easy to skip out on unsecured debt.

I see in some posts people received cards from a bank that turned me down, and some were turned down by the banks that issued me cards. My experience, and that of those I know of personally, is to have a work permit and apply for your card at the bank your company uses to pay you – works for most people. Once that credit is established for a year or so, then you can branch out. One year is the minimum, as they won't even raise your limit the first year.

Some people have suggested putting down a deposit as the way to go, but I strongly believe it is a waste of money. Why would you pay 20% interest (which is for an unsecured line of credit) to use a secured line of credit, what a win-win for the bank and a loss for you. I understand the need to establish credit, but this is not to your advantage – you are paying the bank 20% to borrow your own money, get a debit card like a Visa Electron.

One statement I will agree with is that AMEX does seem fairly foreigner friendly, as I have several friends with AMEX, Thailand cards; though I have not applied for one myself as too many merchants don't want it or charge you 5% to use it.

OP, other than AMEX to establish credit or a deposit, I see little opportunity for you as a foreigner to establish credit. I would probably do an AMEX card for a year and then try with a bank.

[Florin]

Good to hear your experience, Scott...I was rejected by Kasikorn because of falling slightly short of the 50.000/month salary requirement, but they seemed to be the most forthcoming local bank.

By the way, the transactions can be easily printed out from their online banking system with no charge (at least for 3 months back...not sure about 6 months)

[lazeeboy]

I have a ktc card, actually I have two of them with a limit of 400,000 baht, also can take cash to that amount out of the atm. plus I have one card from Ayudhya bank with a 300,000 limit. all 3 are platanum. so Farangs can get cards.

you need work permit

passport

6 months banking with one bank to show salary for last six months

plus someone Thai who can help you sort it out. try to get a Thai director from your company to go with you. it should not be a problem. unless you have bad credit history coz they do check.

i have a bank of ayudhya visa card ,have a work permit and a 100,000b unsercured with 400,000b sercured .in the uk im a bankrupt ..