Credit Card Application

[noahvail]

I'm in a small town in Issan, here on a retirement extension. The choice of banks in town is Kasikorn and the Government Bank, and I use Kasikorn. My overseas credit card expires in September, and I don't know if they'll renew it based on my move to Thailand. I applied for a credit card at Kasikorn last month, giving them all the information required/requested: copies of passport, yellow tambien baan, US social security, private insurance pension, bank references. I bring in over a million baht a year in Kasikorn; that's not a lot of money for TV folks, I know...but it's a heck of a lot of money here. Yesterday, the bank calls my wife. They are willing to give me a credit card if I can show them a work permit (yeah, right, on retirement) and place in a separate savings account, frozen for one year, the amount of credit on the credit card - the princely sum of 30,000 baht. Seems to me that's not a credit card, it becomes a debit card. And for 30k baht, I can't even pay for the 10 days' of rental car when I visit the States in 2 months! Never mind the air fare. I asked my wife if I were a Thai showing that income, would they only offer me 30K credit against 30K frozen funds...and she just laughed, no, they would extend lots of credit.

Ok, so this is just a rant. Rant over. Guess I'll contact my existing card's people and see if they will simply extend it. Planned on doing that anyway, but wanted a plan B. That certainly won't happen at Kasikorn.

[lopburi3]

You are not likely to obtain a credit card without a work permit. Would you provide to a foreign national if you worked in a US bank? No way to check credit history or paperwork and too easy for them to leave.

For most things a debit card is all you need - but if you have a US card try to keep it active as some auto rentals I believe still require credit cards.

For use in Thailand most banks offer a debit/atm card (electron) that can be used for point of sale purchase. There are no special requirements for that.

[johna]

Same thing with me, so my wife apply's for credit a card and even though she did not qualify the bank gave her a card?

[noahvail]

Yes, I've got three ATM cards from bank accounts with Kasikorn. But airlines won't take them, car rental places won't take them.

I was from the US, then moved to NZ, and that's where my cards come from. But they checked my credit history in the States first - not a difficult task, there are three credit bureaus that provide that service rather cheaply. And I didn't have a work permit in NZ - when I got the cards, I didn't even have residency.

Like my thoughts when I moved to NZ, I figured that I live here, so I'll both have the convenience of a "local" credit card and give my business to a local bank.

And I've got a couple of friends back in the US who are retired foreign nationals, EU and Oz, who had none of these difficulties getting credit cards there without a work permit.

But hey, this is just a rant. It's just one more thing that adds to the list of reasons not to stay; but the list of reasons to stay is much longer. So like with the other things, I'll deal with it.

Thanks for your comments

[noahvail]

Same thing with me, so my wife apply's for credit a card and even though she did not qualify the bank gave her a card?

Yeah, that's the weird thing. Same with my wife. She used to be a social worker at just under 8,000 baht a month. I set her up with a small shop, and she's earning a lot more than that, but the banks don't know what the income is. But they offered her a card with what for her would have been a huge amount - about 10 times what they were offering me. But she's never had a credit card - doesn't believe in them - and she turned them down flat. I can see the logic based on lopburi3's reply - they can always go after her if I leave the country, eh... but she'd never be able to repay it if it were topped out, so that part of the logic escapes me. TIT I guess.

[theoldgit]

As with all things Thai, there is never any consistency, my UK card lapsed because I gave up my UK address so I thought about applying for a Thai credit card, like others I found that I couldn't book cars without a credit card, even with the Thai Visa car hire who I thought would have realised the problem and found a way round it, though I could use my Kasikorn virtual card to book hotels and Air Asia flights.

I read through the various posts of other peoples difficulties and even asked at my Kasikorn bank, a big no, like the OP I am retired so don't have a work permit, though I do have a healthy pension.

Then lo and behold I received an invite for the Thai Amex Card, thought I would apply just to see what would happen and a couple of weeks later my new card was couriered to me. Not the best card in the world as a lot of retailers don't accept it, but it means I can now rent a car overseas and even get some more Thai miles.

[lopburi3]

I have maintained a US card for car rental but believe you can use a travel agent to do the rental and pay them locally if need. For air travel always got a better rate using discount travel agent anyhow.

For keeping US card you may want to talk direct as often there computers are not set up for anything but US account. They may be able to enter foreign information manually.

[ivowatson]

Then lo and behold I received an invite for the Thai Amex Card, thought I would apply just to see what would happen and a couple of weeks later my new card was couriered to me. Not the best card in the world as a lot of retailers don't accept it, but it means I can now rent a car overseas and even get some more Thai miles.

It was my understanding that Thai credit cards cannot be used abroad. Has this changed?

I'm currently applying but am not sure they'll give me one. Every 2 weeks they come up with more documents needed.

[theoldgit]

It was my understanding that Thai credit cards cannot be used abroad. Has this changed?

They told me I could use mine worldwide I have certainly used mine in a number of countries.

[mark5335]

Then lo and behold I received an invite for the Thai Amex Card, thought I would apply just to see what would happen and a couple of weeks later my new card was couriered to me. Not the best card in the world as a lot of retailers don't accept it, but it means I can now rent a car overseas and even get some more Thai miles.

It was my understanding that Thai credit cards cannot be used abroad. Has this changed?

I'm currently applying but am not sure they'll give me one. Every 2 weeks they come up with more documents needed.

Over the past year I have used my Thai credit cards on trips to Australia, Singapore and Hong Kong with no problems whatsoever regarding acceptance.

Edited May 21, 2009 by mark5335

[Mobi]

I have banked with Kasikorn for years and have moved tens of millions of Baht through the account.

I am retired, with a yellow book etc etc, but they will not give me a credit card without a work permit.

Some years ago I transferred my UK Amex account to Thailand, but had a huge hassle to do it, even though I had held a gold card for 20 years, had an unlimited credit, and an exemplary credit record. It was only at the intervention of the then farang CEO in Thailand that I finally got it. I now have a credit limit of 5 million Baht!!! and they even gave me a platinum card!

If it's not too late, I suggest the OP uses a UK address to maintain his overseas Credit card. Just notify the card company of a change of address. you don't have to tell them you are not living there. I have several credit cards using my brother's address in the UK. It's a bit of a hassle when they renew the cards, but worth it as a back up, in case you ever need them.

I also hold a UK Visa card with my Thai address. I actually set it up from Thailand through a UK bank, which also has my Thai address. When I opened the account, I had to provide two "proofs of addresses" in the same way as you do in the UK - utility bills or whatever. Then they have to be translated and authenticated. Again, a bit of a hassle, but worth it in the end.

[theoldgit]

I also hold a UK Visa card with my Thai address. I actually set it up from Thailand through a UK bank, which also has my Thai address. When I opened the account, I had to provide two "proofs of addresses" in the same way as you do in the UK - utility bills or whatever. Then they have to be translated and authenticated. Again, a bit of a hassle, but worth it in the end.

Who is that with? Will they send your cards to Thailand?

[Mobi]

Abbey International.

yes they will - by courier - at 30 quid a pop, but it's worth it.

[theoldgit]

That's helpful, thanks.

[jerrylee]

I'm in a small town in Issan, here on a retirement extension. The choice of banks in town is Kasikorn and the Government Bank, and I use Kasikorn. My overseas credit card expires in September, and I don't know if they'll renew it based on my move to Thailand. I applied for a credit card at Kasikorn last month, giving them all the information required/requested: copies of passport, yellow tambien baan, US social security, private insurance pension, bank references. I bring in over a million baht a year in Kasikorn; that's not a lot of money for TV folks, I know...but it's a heck of a lot of money here. Yesterday, the bank calls my wife. They are willing to give me a credit card if I can show them a work permit (yeah, right, on retirement) and place in a separate savings account, frozen for one year, the amount of credit on the credit card - the princely sum of 30,000 baht. Seems to me that's not a credit card, it becomes a debit card. And for 30k baht, I can't even pay for the 10 days' of rental car when I visit the States in 2 months! Never mind the air fare. I asked my wife if I were a Thai showing that income, would they only offer me 30K credit against 30K frozen funds...and she just laughed, no, they would extend lots of credit.

Ok, so this is just a rant. Rant over. Guess I'll contact my existing card's people and see if they will simply extend it. Planned on doing that anyway, but wanted a plan B. That certainly won't happen at Kasikorn.

Try American Express Thailand, I had one issued back in '93 and thats when i was living in bangkok.

[PattayaParent]

I also hold a UK Visa card with my Thai address. I actually set it up from Thailand through a UK bank, which also has my Thai address. When I opened the account, I had to provide two "proofs of addresses" in the same way as you do in the UK - utility bills or whatever. Then they have to be translated and authenticated. Again, a bit of a hassle, but worth it in the end.

Who is that with? Will they send your cards to Thailand?

I have the same, with HSBC Jersey. But the card company won't send the cards to an address outside of UK so I have them sent to HSBC Jersey who courier them to me free of charge.

[sinnus99]

For any Thai credit card you need work permit and minimum salary requirements (letter from your employer) and show last 6 months bank statements, if you are a foreigner.

At Kasikorn bank minimum salary is 50,000baht/month and they issue you a gold card with 100,000baht credit limit. You can use this credit card online and abroad.

The credit limit is usually double of your salary. The interest rate is 20%(!!) for every card. There is a yearly fee for regular, gold and platinum card but you can ask them to waive it.

Be careful if you have a debit and credit card with same bank. With the debit card you can access your credit account at an ATM and take money out.

At SCB bank the minimum salary requirement for credit card is 100,000baht/month. For Thais it is 15,000baht/month.

Bangkok Bank I just opened a saving account. After 5-6 month will apply for credit card.

I have US credit cards and use my friends address (power of attorney) in the US. When they send him the new card he activates it from his phone and send the cards to me with FedEx.

HSBC USA recently reduced the credit limit on one of my card and now they also have started to charge $3 maintenence fee on my free internet checking account.

I usually use the US credit card for dollar purchases and the Thai credit card for thai baht purchases. (saving on exchange rate conversion and fees).

Once a year I transfer bank to bank a larger amount to my US checking account to pay for US credit card/student loan bills.

I have European debit cards in EUR/USD, if I have to pay for anything in Euro.

You really have to shop around to find the best options to your needs.

It is getting harder and harder to get free checking/savings/credit card accounts with no annual and no maintenance fee and no minimum balance requirements.

[Maigo6]

Just recently I got a Bangkok bank credit card, no work permit required.

But......

You need to keep a certain ammount of money in a fixed account, the credit card bill is paid every 7 days from the regular savings account.

In fact they gave me 2 cards, one for Mastercard, one for Visa, no charges for the cards.

100,000 Baht limit on one or a combination of 2 cards.

Need to keep minimum 200,000 in a fixed account.

Cards can be used in any country apparantley, though I have not tried yet, in Thailand or abroad.

They are not credit cards really, as credit isn't given by the issuing company, but they can be used in the same manner as Credit cards the world over, I think the Thai Banks have got this exactly right, my account is checked every 7 days, it's paid automatically out of my savings account so I can never be late with a payment , I pay in full so there can never be any charges, the Thai Banks can't get ripped off by me leaving the country and never paying the CC bill.

I am wondering if Bangkok Bank would have to pay Visa or Mastercard if I did a runner and never paid the bill, and that's why I have to keep 200,000 baht in a fixed account ?

So maybe it is a credit card as far as Visa and Mastercard are concerned, but as it's a Bangkok Bank Mastercard & Bangkok Bank Visa card, Bangkok Bank are responsible for making sure the Bills are paid to Mastercard and Visa. Hence my having to keep 200K in a fixed account with them.

Anyway, I don't have a work permit and I was issued with my 2 cards within the last 2 months.

[sinnus99]

Maigo6 - this sounds like a secured credit card. It is much easier to get a secured credit card than a non-secured credit card. If you keep your credit limit amount with the bank in a non-accessible account, you have collateral for the bank. If you don't pay your credit card off, they take the money out from your other account. This option works for people who don't work or whose credit worthiness is not enough to issue an unsecured credit card. Usually the banks pay very little interest or no interest for the collateral and their risk is eliminated.

Edited May 21, 2009 by sinnus99

[Maigo6]

Maigo6 - this sounds like is secured credit card. It is much easier to get a secured credit card than a non-secured credit card. If you keep your credit limit amount with the bank in a non-accessible account, you have collateral for the bank. If you don't pay your credit card off, they take the money out from your other account. This option is for people who don't work or whose credit worthiness is not enough to issue an unsecured credit card. Usually the banks pay very little interest or no interest for your collateral.

The money I have to keep in my Fixed account is a minimum of 200,000 Baht, the card is limited to 100,000 Baht.

The money still gets interest paid on it the same as the other xxxxx ammount in the same account, that isn't much these days but better than nothing.

So yes, secured Credit Card would be a correct term. I think it's a great idea, never any interest charges, can be used like a regular CC, Banks can never get ripped off and I can never get in debt with the CC company.

Win win situation all round.

[tmth]

just received two credit cards from kasikorn bank visa and master both platinum, took three months for the approval but finally got them got my work permit in place and my salary is going straight insight my kasikorn bank account.

I applied also with Siam Commercial Bank and they refused within 1 day after application submit they even didn't consider the application, it's getting more and more difficult for a foreigner to stay in Thailand.

Central Shopping Mall issues Credit Cards, didn't try to apply but heard that they are reasonable, just try it.

All foreign people are welcome to spend money in Thailand but not more

[DTiger]

I can't talk about Kasikorn.... But for SCB, I called their nationwide platform, where they said I could get one without work permit.

I went back to my branch, they called their own platform, and I got my credit card.

It's a matter of trust like everywhere.... Give them some, but get help too

Good luck

[gjoo888]

I have two credit cards in the states, as long as you have a mailing address in the states you can maintain your account. I pay it online through a bank account I keep in the US and use my brother's address in the US. If you have family or friends that don't mind you using their address, it shouldn't be a problem to keep your US credit cards. Just notify your CC company of the change of address to one of your friends or a family member and you should be good to go.

[Time Traveller]

Welcome to thailand. You will need a work permit for a credit card if you are a foreigner. Otherwise, some banks may grant a credit card if you put a sum of money into an account that becomes frozen. The amount frozen will be at least as much as the credit limit. Effectively, not a credit card at all. There is also different requirements between banks. For example bangkok bank require that the applicant held work permit for a minimum 3yrs. Even if you changed jobs, you need to show that you been at the same employer for at least 3yrs. Whereas a company like KTC is generally easier, but still need work permit. Otherwise, just leave a frozen deposit

Edited May 28, 2009 by Time Traveller

[DTiger]

Welcome to thailand.....

With a smile: Does anyone know some country where you can get a credit card (US Way, for french readers) without job and/or money?

Isn't it called risk management?

[theoldgit]

I refer to my earlier posting, it is possible to get a credit card without a work permit and without securing it against a deposit in a bank.

I applied for for and was issued with an American Express credit card last year, obviously to assess the risk I had to give them six months worth of bank statements but no work permit, I am retired.

I think this is a good example of TIT, put a dozen or so people in a room and they will all get a different result to the same scenario.

[walterego]

Thanks for yoru information please keep contributing with any information regarding finance in Thailand.

Just to clarify a few things people are asking here:

Mastercard/Amex/Dinners/VISA are good in any store/place Worldwide that takes these cards the issuing bank (overwriter/underwriter)or location is irrelevant. (some ATMs overseas dont like the fact that many thai cards are flat and not bubbled out like other nations are therefore they wont take them) that is one reason (amoungst others) that they dont have Cirrus/Maestro etc on them.

Here is some useful info about credit cards in Thailand:

http://www.thailand-travelonline.com/expat...-the-rules/383/

Please continue posting with more information you may come accross regarding low level lines of credit and credit cards in Thailand.

Thanks and Cheers.

[Arkady]

As with all things Thai, there is never any consistency, my UK card lapsed because I gave up my UK address so I thought about applying for a Thai credit card, like others I found that I couldn't book cars without a credit card, even with the Thai Visa car hire who I thought would have realised the problem and found a way round it, though I could use my Kasikorn virtual card to book hotels and Air Asia flights.

I read through the various posts of other peoples difficulties and even asked at my Kasikorn bank, a big no, like the OP I am retired so don't have a work permit, though I do have a healthy pension.

Then lo and behold I received an invite for the Thai Amex Card, thought I would apply just to see what would happen and a couple of weeks later my new card was couriered to me. Not the best card in the world as a lot of retailers don't accept it, but it means I can now rent a car overseas and even get some more Thai miles.

It is hard to get a UK credit card without a UK address but you can get a sterling visa debit card with an account in the Channel Islands or Isle of Man with a foreign address. The card is embossed and can be used online and is welcomed by UK merchants because of lower fees. You can also make sterling payments electronically from these accounts and whatever minimal interest you earn has no tax withheld.

[Arkady]

As with all things Thai, there is never any consistency, my UK card lapsed because I gave up my UK address so I thought about applying for a Thai credit card, like others I found that I couldn't book cars without a credit card, even with the Thai Visa car hire who I thought would have realised the problem and found a way round it, though I could use my Kasikorn virtual card to book hotels and Air Asia flights.

I read through the various posts of other peoples difficulties and even asked at my Kasikorn bank, a big no, like the OP I am retired so don't have a work permit, though I do have a healthy pension.

Then lo and behold I received an invite for the Thai Amex Card, thought I would apply just to see what would happen and a couple of weeks later my new card was couriered to me. Not the best card in the world as a lot of retailers don't accept it, but it means I can now rent a car overseas and even get some more Thai miles.

Amex has different rules, as it is not a bank or tied in with a bank and not regulated by the Bank of Thailand. It is definitely worth trying for those with verifiable income but no Thai work permit, particularly if you have a record with them overseas. They have pretty good service in Thailand but what I don't like is the way they flog your mobile number without permission to companies who put cold callers on to you to sell you hotel memberships etc. That seems to me a gross violation of privacy but is no doubt perfectly legal in Thailand. I called them to complain once and they said something like, "Oh you should have told us you didn't want marketing". So I said, "OK, now I have told you, please get the cold callers off my back", but they kept calling anyway. I recommend the Thai Airways Amex platinum card as air miles are quite good. I think income has to be around B80k per month to qualify.