Getting Thai Credit Card

[sinnus99]

Regarding my experience everything depends on who do you talk to. If you talk to a more helpful bank employee, the right time, getting a Thai credit card is not that difficult.

If you apply the wrong time and with the wrong person, no matter what paper work you present you won't get anything. There are no set standards.

Each branch interpret requirements as they like. Sometimes their requirement change for a week and go back to strict, foreign unfriendly rules.

I received my Kasikorn gold credit card after working only 6 months in Thailand. (was not married at that time.) Presented income letter with 50,000baht salary and after 6 weeks waiting they finally contacted my company HR department to verify salary. During the waiting period I stopped at the bank every 2 weeks with lots of smiles and chit chatted with the application handling employee, who followed up my application in the system. He was a more senior employee with many years of experience and seemed foreigner friendly. I did not have much money on my Kasikorn bank savings account that time. After 2 weeks I got a gold credit card with 100,000baht credit limit. No deposit required. After 1 year Kasikorn sent me a Platinum credit card with 150,000baht credit limit. Later I requested a co-card for Thai wife, which was approved after 2 weeks without any additional paperwork.

My company deposit my salary to SCB bank. I applied to SCB bank same time as to Kasikorn bank for credit card and SCB denied the application citing minimum salary of 100,000baht requirement for foreigners.

As a result after my salary get deposited to SCB, within 24 hrs I move all my money out of my SCB account to my Kasikorn account. I support the bank, which supports me. I also use Bangkok Bank.

I use my Kasikorn credit card a lot for company expenses and travel bookings. I accumulate a lot of points for rebate and gifts and not pay any yearly fee for my Kasikorn credit card or for my wife card.

There are many good 0% financing options for electronic goods, if you use Thai credit cards and many discounts, if you rent a car in Thailand and use a Thai credit card. I get instant sms for every purchase over 1,000baht, including my wife's card, so I consider using the card safe. Never had problem using with Thailand based airlines bookings or train ticket online booking or with Thai ticket major for various events.

I have US credit cards and 1 from Europe in Euro denomination. So conveniently I use the card, which have the same currency as my purchase, to eliminate any exchange rate fees and poor exchanges conversions.

I have never deposited any amount to any bank to secure my credit card credit limit. That option is for secured credit card. If a bank don't trust in my credit worthiness to issue a credit card, I go to other banks and conduct all my business with them. In Thailand persistence and patience is key with smiles at the right time.

[theoldgit]

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.

Amex do credit cards as well as charge cards.

I am retired so don't have a work permit and was given one of their credit cards following my first application, the Thai co-branded one.

Edited November 29, 2010 by theoldgit

[Furbie]

In my personal experience, Kasikorn and KTC will issue you with a credit card without a security deposit. People I know have gotten Citi and Amex credit cards (including the Thai Airlines co-branded Amex). In actuality, I know more people with Citi and Amex than with more local credit cards.

In all cases, you need to meet the expat requirements, which will differ from the Thai requirements. Higher income level and a work permit (in all of the cases I know of) are the main ones. The bank will call to verify your information and it will take longer than a Thai in getting approval; in my case over 1 month.

It is possible to get a credit card from Bangkok Bank (and a few others) with a security deposit, but something about being charged 20% interest on an unsecured lending product, which in actuality is secured by my money rubs me the wrong way. I would never get one of these.