KRS1 Posted September 14, 2011 Share Posted September 14, 2011 Does anyone know what companies are used for credit reporting here in Thailand? Are they same big 3 used in the US? thanx Link to comment Share on other sites More sharing options...
sulasno Posted September 14, 2011 Share Posted September 14, 2011 Thailand has her own credit bureau Link to comment Share on other sites More sharing options...
gregb Posted September 14, 2011 Share Posted September 14, 2011 Since 2005 there has only been a single credit reporting agency in Thailand. http://www.ncb.co.th Link to comment Share on other sites More sharing options...
JamesSwan Posted September 14, 2011 Share Posted September 14, 2011 (edited) Two out of the three Credit reporting companies located in America,do have Thai connections.If you just "Google" credit reports Thailand,then you will indeed come across them & web sites that will redirect you to the "NCB" site.They have their foot in the door,but i believe the first response to your question is still valid.I do know this information is correct as of two days ago.I was also checking on the reporting agencies,as i have a American Express"Thai" card,along with other credit issues.I would not be concerned over Thai "NCB" reports,as i have had them for three years,and they do not hurt or reward you as such.If you need a credit card in Thailand without a job,work permit,or "PR",then "American Express" is the way to go.American Express is much easier(way easier!),then fighting with Thai Banks.I had "AMX" cards from the states,so just showing my "Bank Savings/deposits,was plenty good.I did not have a "House Book @ that time or Thai "DL",but was married with a "O" Visa.My Thai family is pretty much middle class,but they have a very hard time figuring out that "Paying your bills on time",is the norm!This "habit" has not seemed to hurt their ability to get credit cards,car loans,or other consumer credit lines.It is somewhat funny too me,as i bring in more money per year,than all three Thai wage earners.Thai credit seems more based on having 'Cosigners/Thai family" & pay slips,then any real ability to service the loans.I have no real clue just what the Thai credit reporting agency really bases their scores on....It sure in hell is not about paying on time,credit usage,or even the real ability of the borrower to repay the loan.I believe it is "Mai pen rai" scoring system...correct me if i am wrong.Chok dee Edited September 14, 2011 by metisdead Itallics removed, please use default forum font when posting. Link to comment Share on other sites More sharing options...
orchidlady Posted September 14, 2011 Share Posted September 14, 2011 How do you apply for a Thai American Express card? I would like to get one so I could use it while traveling here. i hate getting charged extra by my American visa/mc whenever the card is used outside the US. I work here and have work permit. Link to comment Share on other sites More sharing options...
sulasno Posted September 14, 2011 Share Posted September 14, 2011 does anyone still uses Amex ? to apply for a Thai credit card, make a fixed deposit to a bank and get the credit card from them Link to comment Share on other sites More sharing options...
samran Posted September 14, 2011 Share Posted September 14, 2011 does anyone still uses Amex ? to apply for a Thai credit card, make a fixed deposit to a bank and get the credit card from them As opposed to most places in the world, I find the Thai AMEX card pretty well accepted at around 95% of places, without the surchage. So yes, perfect for use in Thailand. As for getting one, with a work permit and proper visa you shouldn't have a problem getting a credit card without the fixed deposit. Plenty of working expats do. AMEX seems to be one of the better ones at this as well.. Link to comment Share on other sites More sharing options...
Spoonman Posted September 14, 2011 Share Posted September 14, 2011 To apply for a Thai credit card, make a fixed deposit to a bank and get the credit card from them And this is credit how ? Link to comment Share on other sites More sharing options...
sulasno Posted September 14, 2011 Share Posted September 14, 2011 foreigners don't qualify for credit Link to comment Share on other sites More sharing options...
KRS1 Posted September 14, 2011 Author Share Posted September 14, 2011 To apply for a Thai credit card, make a fixed deposit to a bank and get the credit card from them And this is credit how ? Secured credit cards such as this provide credit history which is important if you have never had one before, its the stepping stone to getting 'real credit'. 6 months is usually the minimum time it takes for credit card agencies to pick up on someone with a fresh line of credit and trust them. Link to comment Share on other sites More sharing options...
KRS1 Posted September 14, 2011 Author Share Posted September 14, 2011 Two out of the three Credit reporting companies located in America,do have Thai connections.If you just "Google" credit reports Thailand,then you will indeed come across them & web sites that will redirect you to the "NCB" site.They have their foot in the door,but i believe the first response to your question is still valid.I do know this information is correct as of two days ago.I was also checking on the reporting agencies,as i have a American Express"Thai" card,along with other credit issues.I would not be concerned over Thai "NCB" reports,as i have had them for three years,and they do not hurt or reward you as such.If you need a credit card in Thailand without a job,work permit,or "PR",then "American Express" is the way to go.American Express is much easier(way easier!),then fighting with Thai Banks.I had "AMX" cards from the states,so just showing my "Bank Savings/deposits,was plenty good.I did not have a "House Book @ that time or Thai "DL",but was married with a "O" Visa.My Thai family is pretty much middle class,but they have a very hard time figuring out that "Paying your bills on time",is the norm!This "habit" has not seemed to hurt their ability to get credit cards,car loans,or other consumer credit lines.It is somewhat funny too me,as i bring in more money per year,than all three Thai wage earners.Thai credit seems more based on having 'Cosigners/Thai family" & pay slips,then any real ability to service the loans.I have no real clue just what the Thai credit reporting agency really bases their scores on....It sure in hell is not about paying on time,credit usage,or even the real ability of the borrower to repay the loan.I believe it is "Mai pen rai" scoring system...correct me if i am wrong.Chok dee Do you know how Thai AMEX determines credit limit? I was once told that they review your US account and match it, but others say it is based on your monthy income. If i was to get a Thai AMEX i'd want to have paperless statements since im moving around, i do have a permanent address here but never there. Do you pick up the card or do they mail it? Do they issue charge cards or credit cards or both? Sorry for all the questions. Thanx Link to comment Share on other sites More sharing options...
OccamsRazor Posted September 14, 2011 Share Posted September 14, 2011 foreigners don't qualify for credit Well you're wrong. Link to comment Share on other sites More sharing options...
sulasno Posted September 14, 2011 Share Posted September 14, 2011 I have arranged loans of 43 million baht for a company owned by a foreigner holding 49% share Link to comment Share on other sites More sharing options...
Spoonman Posted September 14, 2011 Share Posted September 14, 2011 foreigners don't qualify for credit Really, you had best advise KBank that they were not allowed to give me an un-secured credit card. Link to comment Share on other sites More sharing options...
sulasno Posted September 14, 2011 Share Posted September 14, 2011 foreigners don't qualify for credit Really, you had best advise KBank that they were not allowed to give me an un-secured credit card. I know of foreigners (with the proper papers) who are holding KBank's credit cards without putting a deposit up as surety; most of them are holding work permits running their own businesses (which include land and factories) Link to comment Share on other sites More sharing options...
Spoonman Posted September 14, 2011 Share Posted September 14, 2011 foreigners don't qualify for credit Really, you had best advise KBank that they were not allowed to give me an un-secured credit card. I know of foreigners (with the proper papers) who are holding KBank's credit cards without putting a deposit up as surety; most of them are holding work permits running their own businesses (which include land and factories) So foreigners do qualify for credit. Link to comment Share on other sites More sharing options...
sulasno Posted September 14, 2011 Share Posted September 14, 2011 foreigners don't qualify for credit Really, you had best advise KBank that they were not allowed to give me an un-secured credit card. I know of foreigners (with the proper papers) who are holding KBank's credit cards without putting a deposit up as surety; most of them are holding work permits running their own businesses (which include land and factories) So foreigners do qualify for credit. with the proper papers and with assets, Yes foreigners with assets do not require credit; a credit card is merely for convenience to pay for purchases Link to comment Share on other sites More sharing options...
Furbie Posted September 15, 2011 Share Posted September 15, 2011 foreigners don't qualify for credit Really, you had best advise KBank that they were not allowed to give me an un-secured credit card. I know of foreigners (with the proper papers) who are holding KBank's credit cards without putting a deposit up as surety; most of them are holding work permits running their own businesses (which include land and factories) I have no real assets in Thailand, I do not own a business and I have an unsecured credit card. I'm pretty sure any card issuing bank in the word would want to ensure you're legal and have some means to pay back unsecured debt. The fact is, foreigners can apply for unsecured credit cards in Thailand, as well as auto and other loans. You just need to be working legally and meet the income requirements. Some banks may be more foreign friendly than others, but KTC will happily give a card to almost anyone who qualifies. Link to comment Share on other sites More sharing options...
sulasno Posted September 15, 2011 Share Posted September 15, 2011 foreigners don't qualify for credit Really, you had best advise KBank that they were not allowed to give me an un-secured credit card. I know of foreigners (with the proper papers) who are holding KBank's credit cards without putting a deposit up as surety; most of them are holding work permits running their own businesses (which include land and factories) I have no real assets in Thailand, I do not own a business and I have an unsecured credit card. I'm pretty sure any card issuing bank in the word would want to ensure you're legal and have some means to pay back unsecured debt. The fact is, foreigners can apply for unsecured credit cards in Thailand, as well as auto and other loans. You just need to be working legally and meet the income requirements. Some banks may be more foreign friendly than others, but KTC will happily give a card to almost anyone who qualifies. I suppose that you have been holding a work permit for a number of years with a active account with KTB? If you put up the minimum downpayment for an auto loan, you would require a guarantor (or even 2) unless you are putting up 50% of the purchase price; the less you borrow, the higher the chances of getting the loan approved Banks will normally throw in a credit card if you have a housing loan with them; before 1997 Citibank gave a credit card to their customers using their car loan services; the credit limit was about 6 times the monthly installment Link to comment Share on other sites More sharing options...
Spoonman Posted September 15, 2011 Share Posted September 15, 2011 So in a nutshell your statement sulsano of "foreigners don't qualify for credit" would infact be incorrect and that foreigners do qualify for credit provided they can meet the financial institutions lending criteria. Link to comment Share on other sites More sharing options...
sulasno Posted September 15, 2011 Share Posted September 15, 2011 foreigners don't qualify for credit without the proper papers in place I know of foreigners (with the proper papers) who are holding KBank's credit cards without putting a deposit up as surety; most of them are holding work permits running their own businesses (which include land and factories) "foreigners don't qualify for credit" applies to all over the world if I may quote "foreigners do qualify for credit provided they can meet the financial institutions lending criteria." Link to comment Share on other sites More sharing options...
Spoonman Posted September 15, 2011 Share Posted September 15, 2011 (edited) So are you saying my Thai missus will qualify for credit without the proper papers in place ? Edited September 15, 2011 by Spoonman Link to comment Share on other sites More sharing options...
sulasno Posted September 15, 2011 Share Posted September 15, 2011 if your Thai missus do not possess the proper papers, ask her to join the KBank's scheme inquiry at any KBank Link to comment Share on other sites More sharing options...
KRS1 Posted September 15, 2011 Author Share Posted September 15, 2011 sulasno, you are a very confusing person. Link to comment Share on other sites More sharing options...
sulasno Posted September 15, 2011 Share Posted September 15, 2011 I believed post #3 and #4 answered your questions Link to comment Share on other sites More sharing options...
samran Posted September 16, 2011 Share Posted September 16, 2011 foreigners don't qualify for credit ....except for when they do. Link to comment Share on other sites More sharing options...
fletchsmile Posted September 16, 2011 Share Posted September 16, 2011 Yes, same big 3 are used. Also TRIS. Many Thai companies are not rated though. Worth bearing in mind that there are Thai specific ratings so they can actually have some AAA rated companies. This is shown for example as ABC's rating being AAA (THA), and AAA (THA) is much lower than AAA people are used to. NCB is National Credit Bureau and not a rating agency. Link to comment Share on other sites More sharing options...
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