The Trick With The Thai Credit Card

[basjke]

When I open any of those promotion folders which there are from homepro,powerbuy or any other bigger shop I notice always the percentages next to the credit card symbols from the major banks.These go up to sometimes 20% for certain banks.

I can not read Thai but I asked a few days a thai and he said it were discounts.As far as I know is that if I pay with a credit card in any shop the shopowner has to pay a certain percentage of the amount to creditcard company to collect the money.Smaller shops even charge that percentage to the customer.

Now why would for example Kasikornbank give me 15% discount if I pay with their creditcard when I puchase something at Powerbuy.I'm sure it is not out of love so where is the Cobra hiding under the grass?

[chiang mai]

It's based on the luck of the draw system, make a purchase and receive a voucher drawn from a box and receive that discount. Top prize may well be 20% but 99.99 % chance is that you'll only see 2 or 3% at best.

[basjke]

It's based on the luck of the draw system, make a purchase and receive a voucher drawn from a box and receive that discount. Top prize may well be 20% but 99.99 % chance is that you'll only see 2 or 3% at best.

I am not sure about that because the discounts are different regarding to which bank issued the credit card.

[Heng]

Credit cards in general are banks playing the odds that most people will carry balances (and pay interest). You can give away trips to Bermuda and "cash back" all year long as long as you're profitable.

[LuckyFive8888]

marketing that's all.

[basjke]

marketing that's all.

Actally I asked today at a Kasikornbank branch in Pattaya and they didn't know about it other then that you got 1 or 2 % depending on which type of card you were holding.

But I would like to know because I have to purchase many things for my new to build house in the very near future and if I really can save 15 or 20% on my purchases then I'm of to the bank to apply for a credit card as soon as they open tomorrow.

[LuckyFive8888]

marketing that's all.

Actally I asked today at a Kasikornbank branch in Pattaya and they didn't know about it other then that you got 1 or 2 % depending on which type of card you were holding.

But I would like to know because I have to purchase many things for my new to build house in the very near future and if I really can save 15 or 20% on my purchases then I'm of to the bank to apply for a credit card as soon as they open tomorrow.

ok, we're getting there slowly. you see, if you are buying like crazy, i mean huge amount, negotiate before you order or pay and no matter what card you have you might be surprise on the discount that they will give you just to ring the sale. this is what i always do and i just have 2 credit card. good luck shopping.

[lapamita]

about 4 years ago, i gone to homepro and i was buying expensive goods total of 400k for renovating condo,

no discount if pay cash only some vouchers but if pay with card from kasikornbank 12 %..ok i went to kasikorn open book and card,, payed at hompro 12% discount plus cashcoupons standard total 16%

after i take all money out of book , the rest of money, and never used it again.

special at homepro when make big purchase open a card at a bank, where their have spec marketing promotion

crazy but true,,, cash is not king

[basjke]

about 4 years ago, i gone to homepro and i was buying expensive goods total of 400k for renovating condo,

no discount if pay cash only some vouchers but if pay with card from kasikornbank 12 %..ok i went to kasikorn open book and card,, payed at hompro 12% discount plus cashcoupons standard total 16%

after i take all money out of book , the rest of money, and never used it again.

special at homepro when make big purchase open a card at a bank, where their have spec marketing promotion

crazy but true,,, cash is not king

Thanks for your explanation,this is in fact the reason I opened this thread.

Now where is the trick because I'm sure Kasikornbank doesn't love you so much that they give you 48000 Baht when spending money in a store that doesn't belong to them.

[Heng]

As mentioned the trick is most people won't pay off that balance within 1 cycle like they should, for an interest free 30 day 'loan.' For the few that do, then it's worth it.