Getting Thai Credit Card

[junkofdavid2]

After seeing all the super great promos for Thai credit cards like KTC, Kasikorn, and other cards with benefits such as 50%-off or Buy1-Get1 in hotel buffets AND movies, etc... I think I want a credit card from a Thai bank, even if I already have one from my home country.

How different are the requirements for non-Thais?

I've heard "stories" that the minimum salary requirement (from Thai sources/salary, and not overseas investment income, etc.) is much higher than for Thais.

Is this true? If so, how much?

I have pretty okay overseas investment income and/or investments worth, but not much "Thailand-based" salary income; although I do have a small amount.

Any inputs on the figures required for foreigners?

Cheers!

[chris11]

Hello

I have my from Kasikornbank

Minimum 50000Baht monthly salery (WP should be longer then 2 Years).

and the will contact your company to confirm your workstatus(In my case they let send all the Documents again from my Company)

It need for me about 2 Month to get my CC.

Chris

Edited June 26, 2010 by chris11

[junkofdavid2]

Hello

I have my from Kasikornbank

Minimum 50000Baht monthly salery (WP should be longer then 2 Years).

and the will contact your company to confirm your workstatus(In my case they let send all the Documents again from my Company)

It need for me about 2 Month to get my CC.

Chris

Thanks Cris.

How do they check your monthly salary aside from asking your employer? Do they check bank statements to see that your entire salary is actually deposited in your bank account? And/Or, do they ask for your PND 91 (Income tax return)?

See, I have 35k/mo. from my PND 91 as the min. requirement from the Labor Dept. for my personally owned company WP (it's an old permit, from when the min. salary was much lower than today), and I also teach part time at a uni with 20k + per month. Total of 55k but only the 20k+ per month has monthly deposit record into personal account (done directly by bank transfer from uni to my account). I have a WP for both jobs.

.

Edited June 26, 2010 by junkofdavid2

[chris11]

Hello

In my case the ask only for the salery slips from the last 6 month and a letter from my Company to confirm my salery also i have my salery account with Kasikornbank

Chris

Hello

I have my from Kasikornbank

Minimum 50000Baht monthly salery (WP should be longer then 2 Years).

and the will contact your company to confirm your workstatus(In my case they let send all the Documents again from my Company)

It need for me about 2 Month to get my CC.

Chris

Thanks Cris.

How do they check your monthly salary aside from asking your employer? Do they check bank statements to see that your entire salary is actually deposited in your bank account? And/Or, do they ask for your PND 91 (Income tax return)?

See, I have 35k/mo. from my PND 91 as the min. requirement from the Labor Dept. for my personally owned company WP (it's an old permit, from when the min. salary was much lower than today), and I also teach part time at a uni with 20k + per month. Total of 55k but only the 20k+ per month has monthly deposit record into personal account (done directly by bank transfer from uni to my account). I have a WP for both jobs.

.

[Thanyaburi Mac]

Hello

I have my from Kasikornbank

Minimum 50000Baht monthly salery (WP should be longer then 2 Years).

and the will contact your company to confirm your workstatus(In my case they let send all the Documents again from my Company)

It need for me about 2 Month to get my CC.

Chris

Sure didn't work for me at SCB. I've been banking with them for lots of years and putting in baht 65k a month from the U.S. via personal check. However, am retired, no WP, no company, so no credit card. Immigration is happy with me, not SCB.

Mac

[richard_smith237]

I work overseas, so no CC in my name. I accept that I am probably high risk for the CC companies here.

I am the second card holder on two of my wife's cards which was a simple method around this issue.

I simply use my SCB debit (electron) card for most of my transactions and find myself rarely using the credit cards.

[Asianrider]

TMB wouldn't give me one without a Work Permit, despite sizeable evidence of assets in Thailand, and banking history over several years.

Kasikorn gave me one promptly, secured by a fixed term deposit account equivalent to my credit card limit.

[Redr0m]

What about if you deposit lets say 1 mill Baht. Do you think it would be possible to get a credit card?

[bukmba]

I can only advice you all not to bother with Thai banks. They are so stupid. I am here since 14 years. After 7 years of having a reasonable salary going into my bank account every month, SCB offered me a credit card limit of 20,000 Baht when I give a 70,000 Baht deposit.

Similar to other Thai Banks. What a joke. I didn't have any debts, reasonable savings, just everything like it should be.

Well, I applied than with Citibank and got instantly approved with a limit of 300,000 Baht and moved up over the years to a credit nearly 1 Mio Baht. And all without any deposit.

I also applied for Standard Chartered Credit Card and also there no problem. Less limit then Citibank and they not automatically increase the limit like Citibank does, but well, still much better then these stupid Thai Banks.

Just think about the insanity the Manager offered me at SCB. 20,000 Credit line if I give 70,000 deposit.

How stupid one has to be???

By the way, that was SCB in Ban Chang, Rayong.

Siam City also offered only 30,000 Credit Limit with 60,000 Deposit.

What the heck I do with 30,000 Deposit??? I go shopping one weekend and it's gone???? Crazy ....

For your info, my salary was always 100k+.

Well, since then I only use Thai Bank for the company, my private accounts are all with Citi.

Never again a Thai Bank.

Edited June 26, 2010 by capo

[profijet]

I agree with capo. SCB is the bank which still doesn't understand the CC biz model. My salary credited to the SCB a/c (100K+) and I got the CC for 40K!?

When I applied with KTC I got the CC in weeks time with credit limit of 100K. After using it for 6 mths they called and asked me whether I need any increase to the credit limit.

Pls. note: I was using SCB CC for 4yrs with the credit limit of 40K without any increase to the credit line.

I am comfortable and happy with KTC!

I can only advice you all not to bother with Thai banks. They are so stupid. I am here since 14 years. After 7 years of having a reasonable salary going into my bank account every month, SCB offered me a credit card limit of 20,000 Baht when I give a 70,000 Baht deposit.

Similar to other Thai Banks. What a joke. I didn't have any debts, reasonable savings, just everything like it should be.

Well, I applied than with Citibank and got instantly approved with a limit of 300,000 Baht and moved up over the years to a credit nearly 1 Mio Baht. And all without any deposit.

I also applied for Standard Chartered Credit Card and also there no problem. Less limit then Citibank and they not automatically increase the limit like Citibank does, but well, still much better then these stupid Thai Banks.

Just think about the insanity the Manager offered me at SCB. 20,000 Credit line if I give 70,000 deposit.

How stupid one has to be???

By the way, that was SCB in Ban Chang, Rayong.

Siam City also offered only 30,000 Credit Limit with 60,000 Deposit.

What the heck I do with 30,000 Deposit??? I go shopping one weekend and it's gone???? Crazy ....

For your info, my salary was always 100k+.

Well, since then I only use Thai Bank for the company, my private accounts are all with Citi.

Never again a Thai Bank.

[Phetchmuean]

so where is it best to apply for a secured kredit card (no work no workpermit) ? My income comes from abroad moore than 200000 a month for many years with kasikornbank.

[triplegee]

I'd recommend you guys apply for a Central Card which is a Mastercard.

I filled out the paperwork and applied a couple of years ago and they rang me looking for some additional information and to also advise me that I would need to pay a deposit. I told them I wasn't interested in doing that and hung expecting that to be the end of the matter.

A credit card in my name turned up a week later with a credit limit equivalent to my monthly salary - no deposit required.

Good luck.

GGG

[luckylarry]

It is easy to get a Credit if you have a Thai wife, just be a named card holder on her Account, I have done it that way for years used it all over the World

[bazmlb]

If you have permanent residence, the same income conditions for Thais apply to you.

[lothda]

Bangkok Bank head office gave me a credit card requiring a deposit of double my desired credit limit in a fixed account. When I received the card it turned out to be the Gold version and the credit limit was the full amount of my deposit. Living in Thailand on retirement extensions, no monthly income i.e. pension.

Edited June 26, 2010 by lothda

[skybluestu]

If you have permanent residence, the same income conditions for Thais apply to you.

Well that probably rules out the vast majority of thaivisa members then.

[aussiebebe]

Some really interesting and useful info from 'Capo' about Citibank giving a credit card without deposit. I had no idea, I might try it. I work in Bangkok and had given up asking banks about credit cards. Like the OP 'junkofdavid2', I'd been interested in the cash-back and 0% interest offers etc. But like 'Capo' I'd been struck by the stupidity of banks like Kasikorn, Bangkok Bank and TMB. Most offered credit cards with credit lines equal to the deposited amount. But if you keep, say, 100,000baht deposited all the time earning no interest, just to get poxy cash-back on certain items at certain times, there is no point - you'll lose money. You'll only save money on the promotions if you planned to do them anyway. Interesting tip about Citibank though, thanks.

[d0ndela]

I have platinum Visa and MasterCard both from Kasikorn, no deposit needed at all and no salary slips for the past 6 months as some mention either.

I have my own company which is legit with employees and all taxes paid etc, and all I needed was a signed document from the company (my company) that my salary was 50,000 baht per month.

- I do not have a residency permit

- I am not in a relationship with a thai woman

- I have separate credit on each card

- I have made no deposit of any kind

The bank called my company and asked to talk to the HR department to confirm that I was employed there and got 50,000 salary. Piece of cake.

Thinking of getting it in the other banks as well just for the fun of it, since they do give various discounts based on which bank you use.

Edit: I should add as well that they did not do any check in my bank statement to check that the 50,000 was actually paid to my account each month, because I do not pay out any money from the company, so no salary had been paid into the account.

Edited June 26, 2010 by d0ndela

[TigertheCat]

I have been with SCB for many years and did ask about a CC years ago and they replied yes,as long as you deposit 200,000 baht for a credit limit of 100,000 baht,I politely declined their generous offer.

Last week,out of the blue,I had a call from American Express Thailand promoting their tie up with Thai Airways as I am a member of their frequent flier program.

I told the rep that I only have a Retirement Visa,no problem sir she replied so I may pursue this avenue further.

[temo1051]

Banking here is a big joke. Bank employees are not properly trained in Bank policy. You can go to several branches of the same bank and get a different answer to the same question.

In my experience SCB is the absolute worst. I have been banking with them for over 4 years. My 81k monthly salary is direct deposited into my account. The balance was 1MM and with a 820 credit score, a non secured visa with a US bank with a $13k limit as well as an Amex Platinum card, I was denied a credit card due to an insufficient monthly income. The minimum for a foreigner is 100k.

I asked what was the minimum monthly salary for a Thai and the answer was 17k.

I checked with TMB and they required a deposit of 1MM.

Bangkok bank gave me the best deal on a secured Platinum card. 200k limit backed by a 200k savings. No annual fee provided 5k is charged per month and no monthly carry over from the balance.

I only use this card in Thailand to avoid the international fees charged by Amex and my US bank. So far there have been no problems and the Bangkok bank internet banking works well for managing my accounts and transferring money from my SCB account to pay my Bangkok Bank credit card.

[virtualtraveller]

Yes, Capo hits the nail on the head, same as my experience and I laughed out loud when the bank manager had the temerity to say I needed to deposit 200k to get a 100k o/d limit (so they charge me double digit interest on the o/d and give me single digit interest on the dep - how dumb do they think I am).

I did the same as lucky larry, just got one through my Thai wife, seeing as the banks are so keen to dish out cards to anyone with an income of over 15k, while I'm earning 10 times that, lived here 8 year, have property and still they treat me like a blacklist liability.

Go try the foreign banks in Bangkok, let them earn lots of interest off you.

[JimSiam]

Thai Air use to have a Thai Air branded Amex, has anyone got one of these or tried to get one?

[theoldgit]

Last week,out of the blue,I had a call from American Express Thailand promoting their tie up with Thai Airways as I am a member of their frequent flier program.

I told the rep that I only have a Retirement Visa,no problem sir she replied so I may pursue this avenue further.

That's the line I went down, retired so no work and no work permit, given card with a 310,000 limit and no mention of a deposit.

Didn't think I really needed a Thai credit card, until I didn't have have one.

[nakachalet]

It is easy to get a Credit if you have a Thai wife, just be a named card holder on her Account, I have done it that way for years used it all over the World

i agree.... that probably is the easiest way to obtain a credit card in asia.... lol

and my better half also wanted to add my name to her existing cc acct..... but i gracefully declined....

otherwise.... she probably would know what i enjoy in the food court everyday.... yum yum....

[nakachalet]

while taking finance 101....

my prof instilled upon every student that....

the best time to negotiate.... for the best terms.... with the financial entities is....

when you do not need their money.... nor their services....

they would raise your limit to the sky.... to serve you.... :jap:

remember this principle.... and instill this practice.... into your family members....

and none will decry for increase credit limit line again.... ever....

as several posters already attested.... don't call us.... we'll call you....

[Blackberry9700]

Apply for an AMEX gold credit card and after 2 months try applying at KTC. AMEX approved my CC within a week with a Credit limit of 40,000 baht and 2 months later KTC issued me a Platinum VISA with a credit limit of 50,000.

[Blackberry9700]

Apply for an AMEX gold credit card and after 2 months try applying at KTC. AMEX approved my CC within a week with a Credit limit of 40,000 baht and 2 months later KTC issued me a Platinum VISA with a credit limit of 50,000.

I make 50k/month and have been living in thailand for the past 24 years. Provided the banks with the following documents:

- Work permit copy with the same company for more than 3 years

-Passport copy

-Letter from my company stating my salary and number of years i have worked for the company

- Copy of my bank book(saving account)at TMB bank where my salary gets wired in.

- Pay slip for the past 2 months

Updated Results as of 6th May 2010

I applied for a Credit Card at the following banks:

-TMB - Rejected

-SCB - Rejected (Received a SMS 3 days from the app submission date)

-Bank of Ayudhya - Rejected

-AMEX - Waiting for the messenger to deliver the Card , most probably today(6 May 2010)

-KTC - A staff from the bank called me yesterday(27/4/2010) on my cell phone number to verify the information provided to the bank and said that I will know the results in 2 weeks time. - Rejected

-Kasikorn - Still waiting for the call. - Rejected

Re-applied at KTC , got the KTC Platinum Visa card with 50,000 credit limit on 14th June 2010.

[CNF55]

Thai Air use to have a Thai Air branded Amex, has anyone got one of these or tried to get one?

Yes, I do. Have it for 3 or 4 years now and its great - for each baht spent you get a points credit which you can convert to Thai miles. Same problem as other posters - Bangkok Bank refused me although I had my account with them for more than 6 years. Applied for the AMEX card - no problem - limit started with 2 x salary and they increased it every year since.

[jackbox]

If you have had a work permit for over two years your best bet is KTC for a number of reasons. The first one is that once they deem you qualified to apply (two years continuous work permit) the income requirements are the same as for Thais (most banks have ridiculously high income minimums for foreigners). One of the other reasons is that they have some of the best promos of all the credit card companies. Plus they guarantee no annual fee for the life of the account.

They have nice boutique offices in several Central Malls as well as MBK (where I applied). The ladies in the office were very courteous and polite when I applied (as compared to other banks in the past who were very rude when I wanted to apply for a credit card). To support your application they want only the latest computerized salary slip or a letter from your employeer confirming your income, a photocopy of your bank book for six months where your pay is deposited, copy of your passport, visa and current permission to stay, and copy of all the pages in your work permit. They will have you sign all the copies when you submit your application and the witness form on the application is signed by a bank employee only (don't have spouse or friend sign there). I also emailed them and they sent me an English language application. When I applied the ladies at MBK had never seen one before. They asked me where I got it and I told them it was emailed to me by their company, and they said ok, applied a barcode to it, and accepted it. Three days later I got a phone call from KTC to verify I applied and verify my personal information. The lady told me that they would call my employer to verify my income and I would here from them in about two weeks. Less than two weeks later I got an SMS in Thai saying (Your card has been sent to the address your provided." Three days later by registered mail I got the card, with a decent starting limit. There is a 45 day interest free grace period on purchases.

KTC's income requirements are 15,000 a month for a standard card, 40,000 a month for a Titaninum MasterCard and 70,000 a month for a Platinum Visa. This is the same income requirements as for Thais.

In the past I have applied with other Thai banks and was always turned down. Before this the only company I could get a card from was American Express, but it is a charge card and not a credit card and requires full payment every month. In my experience, KTC has been the easiest, most polite and most efficient of the companies I have dealt with.

It also appears that Thanachart Bank will approve foreigners under the same income requirements as Thais after two years continuous work permit, but they have a small annual fee (200 baht) and no grace period on charges. They compute interest from the day of posting on purchases, and the day of withdrawal on cash advances.

My experience in the past was as follows:

Kasikorn Bank (I had about a lot of money in accounts with them also) turned me down flat. I think income too low for a foreigner with them. Minimum monthly income for foreigners is 100,000 baht a month.

Bangkok Bank wanted me to give them a security deposit equal to the amount of credit I wanted. I told them they could keep their lousy offer.

Standard Chartered: I went into their HQ office and bank officer said app looked good. They make you give them an original pay slip which they won't give back. A week later I got an SMS saying I was declined. After calling and speaking to several people I learned that they won't approve a foreigner until they have about three years work permit. If the lady who I submitted my app to had told me that I could have just not applied. Why take an app that they know they won't approve and waste everyone's time?

Other banks minimum monthly income requirements as I understand them to be. This is minimum for the lowliest card they offer.

Citibank 50,000 baht, SCB 100,000 baht, UOB 50,000, HSBC 50,000, Krungsri GE 50,000.

The real stinker is TMB. After two years the income requirement is the same as for Thais, but your employer must have a 30,000,000 baht or higher loan with the bank. If your employer doesn't have a loan of at least this amount, you cannot apply for a credit card with them.

[Soutpeel]

In repsonse to some of the comments on here about Thai banks being stupid etc etc, what exactly are you comparing his to ?....American/European banks, as the last time I looked the banks in the "civilised world" were not exactly doing too well at this point in time and the Thai banks appeared to have fared a lot better even though they are "stupid"....

As regards persons b*tching and moaning about farangs not being able to get credit cards from Thai banks, why just you get one from your own country and use that then..

Personally, I had a SCB credit card within two weeks of arriving in the country to start work, company made a few phones calls, letter provided and copy of WP and that was it...piece of cake...