Best Credit Card

[Jayman]

Before signing on the line to take out a Thai credit card you would be well advised to check the 'penalties'.

Thai credit laws do not provide the range of protections that you can expect in Europe, the US or Down-Under and as such come with a significant financial risk.

Which is why getting a CC from a provider back home is a good idea, if you have the option.

The problem with using a CC issued outside Thailand inside Thailand is the currency conversion factor. Of course you will have to check with your provider to confirm but many Visa, MC, and AMEX charge 3% currency conversion fee on all transactions done outside your home currency. Of course... YMMV

[snoother]

I went to SCB a few days ago to upgrade my standard debit card, which doesn't work for online shopping, especially for booking air tickets.

I was told I had to get a credit card, and that to get it I had to block 50K bahts on my account. I told them I didn't want a 20% credit for shopping, I have plenty of money on my account and I would like to be able to spend it as much and as often as I want. Well apparently it is not possible with SCB, maybe I should try another bank.

AIso, I completly fail to understand why people use credit cards. Some people are stupid enough to pay 20% interest on their spendings? And why is the bank offering a credit card, which I suppose the only advantage is to be able to spend money you don't have, and at the same time asking clients to block a fairly large sum on the account. This seems retarded but maybe I missed something.

[cdnvic]

You don't pay interst if you pay the balance every month. You do however, accumulate rewards on many cards. Banks generate most of their income by the charge to the merchant.

Use a card smartly and it can save you a lot of money.

Edited January 31, 2012 by cdnvic

[Jayman]

I went to SCB a few days ago to upgrade my standard debit card, which doesn't work for online shopping, especially for booking air tickets.

I was told I had to get a credit card, and that to get it I had to block 50K bahts on my account. I told them I didn't want a 20% credit for shopping, I have plenty of money on my account and I would like to be able to spend it as much and as often as I want. Well apparently it is not possible with SCB, maybe I should try another bank.

AIso, I completly fail to understand why people use credit cards. Some people are stupid enough to pay 20% interest on their spendings? And why is the bank offering a credit card, which I suppose the only advantage is to be able to spend money you don't have, and at the same time asking clients to block a fairly large sum on the account. This seems retarded but maybe I missed something.

Let me try and explain this to you so you are understanding how a credit card can be used interest free. Nearly all credit cards come with a "grace period". This is typically 25 days or so. All charges you incur are held interest free provided you pay the balance in full by the payment due date as listed on your bill. This means you can use you card freely all the time and if you pay the balance off in full every month you incur NO interest charges. Now as I mentioned before, some credit cards like our SCB one give back rewards every month. We get a 1% credit back every month. So if we spend say 37,000thb a month on groceries and gas then when we pay the bill off we get a credit back for 370thb. Now sure 1% is not a big credit but it's FREE money that we are being PAID to use a credit card that gives us much added convenience and NO downside for my family. Of course if you have poor money management skills and overspend your means then you will be stuck paying very high interest (20% per year) starting from the day you made the charge until the day it's paid off in full and you will no longer get interest free grace period while you are holding a balance.

Use cash or credit or a combo of both... the choice is yours. But you need to know how to manage your money or even a check book can get you in lots of trouble.

If you are looking at a credit card as easy credit then you are getting played. Credit cards are some of the most expensive long term credit options out there. But for short term credit they can be used WITHOUT any interest. Of course if everyone used them like this then the banks wouldn't be making the huge profits they make. They rely on customers using poor money management skills and they are happy to give you the rope to hang yourself with.

Edited January 31, 2012 by Jayman

[Semper]

We have the family card from SCB and get back 1% every month (cash) on all the purchases we make. So basically we use the card everywhere we can (only if no fee is charged) and then pay in full (via auto pay) every billing cycle and collect 1% back. We make money and have the convenience of not having to have cash on hand at all times. Plus we get anywhere from 15-30 days to pay

So you are telling me that the bank gives you a free 15-30 credit, and on top of that they give you 1% back of the money you borrowed. Get real, banks don't give away money for free. Someone has to pay this credit, and in some cases it's the shop where you use your CC, wich mean they have to hike their prices to get get their money back. And you, as the consumer, will have to pay for this in the end. There is not such thing as a free meal.

Edited January 31, 2012 by Semper

[cdnvic]

We have the family card from SCB and get back 1% every month (cash) on all the purchases we make. So basically we use the card everywhere we can (only if no fee is charged) and then pay in full (via auto pay) every billing cycle and collect 1% back. We make money and have the convenience of not having to have cash on hand at all times. Plus we get anywhere from 15-30 days to pay

So you are telling me that the bank gives you a free 15-30 credit, and on top of that they give you 1% back of the money you borrowed. Get real, banks don't give away money for free. Someone has to pay this credit, and in some cases it's the shop where you use your CC, wich mean they have to hike their prices to get get their money back. And you, as the consumer, will have to pay for this in the end. There is not such thing as a free meal.

As has been pointed out before, the banks make most of the money from the fees they charge the merchants, and because of that they give rewards to consumers for using the card as much as possible. Don't roll your eyes at someone just because you don't understand how credit cards, and their incentives work.

[richard_smith237]

We have the family card from SCB and get back 1% every month (cash) on all the purchases we make. So basically we use the card everywhere we can (only if no fee is charged) and then pay in full (via auto pay) every billing cycle and collect 1% back. We make money and have the convenience of not having to have cash on hand at all times. Plus we get anywhere from 15-30 days to pay

So you are telling me that the bank gives you a free 15-30 credit, and on top of that they give you 1% back of the money you borrowed. Get real, banks don't give away money for free. Someone has to pay this credit, and in some cases it's the shop where you use your CC, wich mean they have to hike their prices to get get their money back. And you, as the consumer, will have to pay for this in the end. There is not such thing as a free meal.

Your thinking is fundamentally flawed Semper: The prices are the same for everyone, you Semper, also pay the same price as anyone with a card with your cash.

You also pay for the cost of the cash machine when you withdraw cash… these costs are spread through out the whole system.

When doing anything involving money and banking you are always paying for something one way or another, be it the salaries of bank employees, the rent on the buildings, their computers etc… If you have money in the bank they are using it to invest and make profit.

Unless you get paid in cash and keep your money under the mattress there is no way around this system, and even then, you are still paying for other peoples convenience when you make a purchase where the costs of these cards and the banking system is passed on to the consumer.

Of course you we could all go back to the bartering system. It was perhaps the Romans who figured out the double coincidence of want created by money was far more convenient, this has simply been superseded by plastic. Money is simply an electronic number of most transactions these days. The lack of something tangible (physical money) is highly convenient.

[Jayman]

We have the family card from SCB and get back 1% every month (cash) on all the purchases we make. So basically we use the card everywhere we can (only if no fee is charged) and then pay in full (via auto pay) every billing cycle and collect 1% back. We make money and have the convenience of not having to have cash on hand at all times. Plus we get anywhere from 15-30 days to pay

So you are telling me that the bank gives you a free 15-30 credit, and on top of that they give you 1% back of the money you borrowed. Get real, banks don't give away money for free. Someone has to pay this credit, and in some cases it's the shop where you use your CC, wich mean they have to hike their prices to get get their money back. And you, as the consumer, will have to pay for this in the end. There is not such thing as a free meal.

No such thing as a free meal? Guess you don't know much about how bankers make the money they use for their meals.

Edited January 31, 2012 by Jayman

[MJo]

We have the family card from SCB and get back 1% every month (cash) on all the purchases we make. So basically we use the card everywhere we can (only if no fee is charged) and then pay in full (via auto pay) every billing cycle and collect 1% back. We make money and have the convenience of not having to have cash on hand at all times. Plus we get anywhere from 15-30 days to pay

So you are telling me that the bank gives you a free 15-30 credit, and on top of that they give you 1% back of the money you borrowed. Get real, banks don't give away money for free. Someone has to pay this credit, and in some cases it's the shop where you use your CC, wich mean they have to hike their prices to get get their money back. And you, as the consumer, will have to pay for this in the end. There is not such thing as a free meal.

No such thing as a free meal? Guess you don't know much about how bankers make the money they use for their meals.

And add to the equation the cost for shops and banks of handling actual cash money. Where i come from both banks and shops are pushing for cash free economy. Some bank branches do not carry cash anymore or it's available only from 10am to 1pm etc. Just to save money as it costs money to keep the branch open and supplied without any customers.

Then again, where i come from we stopped using check books in the '70's and bank books on '80's....

[Semper]

Then again, where i come from we stopped using check books in the '70's and bank books on '80's

Where would this be? Then again, don't tell me, I know already where you're from. And somehow telling negative thoughts about this country is forbidden.

[zzaa09]

Cash money has always worked for me. I've never understood why people use "plastic cards". You think it's for free, but it's not.

What a(nother) riculous comment. You have never had to book international flights, hotels, car rentals etc. etc. online? Do you stuff your 'cash money' up the telephone line?

Credit might be defined as not having available funds at the time [living beyond your means]. Not real.

I'll take the old school any day.

Living within your means in a modern day and age earns points towards free flights, booking said free flights from the comfort of my office is also nice. Enjoy them old school ways.

Thanks, I will.

Apart from the control, dependence, and suppression that those wish to live under when breaking bread with the corporations and establishment.

'Tis a pittty as some are terribly blind trading off towards what they consider to be free, independent, and self-sufficient.

[Semper]

Living within your means in a modern day and age earns points towards free flights, booking said free flights from the comfort of my office is also nice

Do you really believe that these "free flights" are for free? What company in their right mind would give anything away for free?

[Jayman]

Living within your means in a modern day and age earns points towards free flights, booking said free flights from the comfort of my office is also nice

Do you really believe that these "free flights" are for free? What company in their right mind would give anything away for free?

Ok then.. Thanks semper for paying for my flights..

[monty1412]

Cash money has always worked for me. I've never understood why people use "plastic cards". You think it's for free, but it's not.

What a(nother) riculous comment. You have never had to book international flights, hotels, car rentals etc. etc. online? Do you stuff your 'cash money' up the telephone line?

Some of us need to travel a bit further than the local 7-11 and girly bar. My debit card is Visa, my credit card is Mastercard, and my Amex is, well, Amex. Not every card is accepted in every country, so if I have one they don't accept I pull out another one - understand? And yes they are free, they are all cleared every month.

@OP, I really wanted a Citi ROP card. It gives 1 mile per 20 baht spent, I worked out I could probably get 4 or 5,000 miles per month. As I am already a gold ROP member this would give me lots more upgrades. I have to report however that they have not once replied to either my calls or emails, so have decided Citi as a whole are not worth dealing with (here in Thailand). My UOB Platinum has always worked well, after 3 years I now have enough points for some hair straighteners or a toaster, lol.

I with QUED on this, I used to spend 15,000 USd per month on business expenses on Citbank Mastercard and they would give me 2 for 1 miles.. got allot of free airtravel and never paid any interest.. yes there was annual card fe of USD250 but the savings on flights booked through their program more than offset this

[theoldgit]

Living within your means in a modern day and age earns points towards free flights, booking said free flights from the comfort of my office is also nice

Do you really believe that these "free flights" are for free? What company in their right mind would give anything away for free?

I cannot really answer that but what I can say is that I have a Thai Amex Card, I use it for shopping, hotels, petrol, travel and some restaurant meals, I pay it off every month so don't pay interest. I take advantage of all the bonus points offers, 5x points on my grocery shopping at weekends, and built up sufficient points for a Business Class return trip to Hong Kong for my girlfriend and I, I have sufficient points for another round trip, I have had the card for a little over three years.

Clearly the money to pay for these flights has to come from somewhere, but it doesn't come from me.

There are many arguments for and against credit cards, but properly managed they are very useful, debit cards have their uses but my experience is that whilst you can pay for anything with them you cannot usually use them as a deposit for a rental car or at a hotel. A mate of mine tried to use a debit card when renting a car in Florida, the guy wanted a credit card for the deposit, when my mate explained he didn't have one the car rental guy said something along the lines of "if your bank don't trust you with a credit card, why should I trust you with one of my cars"?

[QED]

Living within your means in a modern day and age earns points towards free flights, booking said free flights from the comfort of my office is also nice

Do you really believe that these "free flights" are for free? What company in their right mind would give anything away for free?

I cannot really answer that but what I can say is that I have a Thai Amex Card, I use it for shopping, hotels, petrol, travel and some restaurant meals, I pay it off every month so don't pay interest. I take advantage of all the bonus points offers, 5x points on my grocery shopping at weekends, and built up sufficient points for a Business Class return trip to Hong Kong for my girlfriend and I, I have sufficient points for another round trip, I have had the card for a little over three years.

Clearly the money to pay for these flights has to come from somewhere, but it doesn't come from me.

There are many arguments for and against credit cards, but properly managed they are very useful, debit cards have their uses but my experience is that whilst you can pay for anything with them you cannot usually use them as a deposit for a rental car or at a hotel. A mate of mine tried to use a debit card when renting a car in Florida, the guy wanted a credit card for the deposit, when my mate explained he didn't have one the car rental guy said something along the lines of "if your bank don't trust you with a credit card, why should I trust you with one of my cars"?

Exactly, it's only the cheap charlies who can't get a credit card who berate them so strongly. The lady doth protest too much meethinks....

[2unique]

I now pay all my bills automatically by citi credit card and pay monthly building up free miles and discounted hotel stays. I honestly can't remember how I used to pay USB in the past but recall queueing up in the Dtac store wasting time.

When I bought my HD2 using SCB meant 5% discount and 0% interest free over 10 months whereas cash gave no benefits at all.

Because of having 10 years credit history with SCB the car I bought in November was 1.3% interest instead of 2.7%

Used as part of your budget with a disciplined strategy they can be a bonus. Unfortunately the more you clear your balance monthly the more credit they give you, this is their strategy, and sooner or later most people slip and go a little beyond their means month by month, on a good intentioned road to hell.

Thanks for the tip re Shell I'll be filling up there from now on

Posted with Thaivisa App http://apps.thaivisa.com

[rockderk]

I got a Tesco card -Kasikorn- [ now Bank of Ayudhya]. At the time, Thaksin had capped interest at 15%. As soon as he was turfed out it went to 20% where it is now.. There are all manner of nasty fees tacked on; usage fee [ <deleted> do they think I wanted the card for - to not use it?] late payment fee -sometimes they get that wrong and hit me with it for fun; 3 -4% loading by vendor, which apparently is illegal but you can't argue about it, but I find it very handy especially for hotels and travel when overseas, with the appreciation of the baht in recent years. Just keep your balance sensible, don't max it out and don't miss a payment. Oh and never do a cash advance, ever!

[Johnniey]

Scary - fraud is rife here, and banks do not seem to like to repay money that has been withdrawn illegally.

At least with a debit card you can minimize the risk by only having a small amount of money in the account.

totster

one way I avoid fraud is to use my Entropay credit card. https://www.entropay.com/

I also use a Cashplus Mastercard.http://www.mycashplus.co.uk/

[mackes]

About Citibank M-card, is there actually any fees in practice besides the annual fee when you use it in normal way, paying in shops and paying off the debt each month?

There is a line of different fees in the application forms refering to different banks!

Can you estimate how many shops or services that put an extra charge for paying with credit card? Something that is very common in Thailand.

[Jayman]

About Citibank M-card, is there actually any fees in practice besides the annual fee when you use it in normal way, paying in shops and paying off the debt each month?

There is a line of different fees in the application forms refering to different banks!

Can you estimate how many shops or services that put an extra charge for paying with credit card? Something that is very common in Thailand.

If you use the CitiBank card a certain min amount then there is no annual fees. There are also no annual fees with any of our scb cc's.

I never pay any service fees for using any of my cc's. Even my wife knows to ask if they charge a service fee for using cc and if they do then we pay cash.

foodland , big c, lotus, friendship, Ptt, shell, power buy, and so on don't charge any fees for using cc.

Edited February 2, 2012 by Jayman

[MJo]

Then again, where i come from we stopped using check books in the '70's and bank books on '80's

Where would this be? Then again, don't tell me, I know already where you're from. And somehow telling negative thoughts about this country is forbidden.

I'm born on mid seventies and while i remember having a bank book and piggy bank when i was a kid by late -80's these were replaced by bank sending you breakdown once a month. I never had a checking account nor i have never had or seen a actual checkbook in my life until moving overseas.

Late -80's they introduced ATM machines with barcode readers to pay your bills while dropping by to ATM (i never used it as all my regular bills were direct debit with my bank anyways) and -90's internet banking arrived. I reckon i have been in a actual bank branch office premises last time in -96 when signing loan agreement for my condo.

Due to all this evil progress and control imposed over us i'm now able to access all government services like tax,.social security, pension and so one online identifying myself with my internet banking credentials (yes they are proper secure ones, not what you see here).

Oh, almost forget to add that i haven't received any snail mail for three years now. I have opted to use government post office service that delivers your mail electronically to your secure online mailbox (same internet bank access, files in pdf). Most companies send already in pdf and those that do not the post office will scan for you. And you guessed it, it's all free. Yes free, the post office prefers this as it is cheaper for them than to deliver letters to my home.

So why don't you know tell me where i'm from? Honestly i don't think you are even aware that such country exists where i'm from.

[sparebox2]

Shop used to charge extra (up to 3%) if I use credit card.

Now the situation is reverse. Shops includes the overhead in their price, and offer to give discount (up to 5%) is paid in cash.

Real example. Resturant like BBQ, MK, Fuji, etc. get a discount of 10% if paid is cash, or 5% if paid by credit card.

[Jayman]

Shop used to charge extra (up to 3%) if I use credit card.

Now the situation is reverse. Shops includes the overhead in their price, and offer to give discount (up to 5%) is paid in cash.

Real example. Resturant like BBQ, MK, Fuji, etc. get a discount of 10% if paid is cash, or 5% if paid by credit card.

MK no longer charges for using our CC and gives no discount for paying cash.

But of course all you have to do is ask before paying and pay with cash if that benefits you and CC if that benefits you. It's really not such a big deal. No one is saying you have to choose to pay all in cash or CC. The choice is yours and if you use your brain you can come out ahead.

Edited February 2, 2012 by Jayman

[theoldgit]

Real example. Resturant like BBQ, MK, Fuji, etc. get a discount of 10% if paid is cash, or 5% if paid by credit card.

My local Indian Restaurant gives me a 15% discount if I use my Amex Card, we gad guests from the UK recently and took them to the buffet at the Ginger Restaurant at Centara Grand, again use my Amex and enjoyed their come four pay two promotion, also applies to other cards but not cash.

[2unique]

Parking spots reserved for credit card holders on the lower floors always make my day when around Siam - then again I'm sure cash would work just as well if not better in those circumstances!

[fvw53]

I was reading how other members of Thaivisa got their local credit cards

I have a MasterCard from my home country but sometimes in some South East Asian countries and in China I cannot used it to check in at a hotel and then I need to come up with cash before getting a room and pay for every consumption...which is ennoying. They say that my credit card is "defective" but is really not.... because I used it for many other online expenses.

I live in Thailand since many years on a Non Imm "O" visa (based on marriage) and my Thai wife has several credit cards with rather high spending limits. She uses most of all a SCB issued credit card but when she asked the bank manager to issue also a credit card for me and linked to hers - even with a small spending limit such as 25000 Baht - it was refused because I have no work permit (but I am retired and my pension is paid in my home country)

You indicate that SCB gave you several credit cards linked to the same spending limit, is this because you are here on a work permit?

Cash money has always worked for me. I've never understood why people use "plastic cards". You think it's for free, but it's not.

Spoken by someone who has no clue.

We have the family card from SCB and get back 1% every month (cash) on all the purchases we make. So basically we use the card everywhere we can (only if no fee is charged) and then pay in full (via auto pay) every billing cycle and collect 1% back. We make money and have the convenience of not having to have cash on hand at all times. Plus we get anywhere from 15-30 days to pay. Would someone like to point out the downside to this?

Next we are trying to get a citibank card (thai version) whihc is a little harder as Citibank vets the customers more. They have a few diff cards but the one we were looking at gives 5% back on shell gas and money spent at Big C. So especially we would use this card ONLY at Big C and Shell and use the scb family card at all other locations.

Also, SCB gave us 3 cards all linked together. 2 are visa and 1 is MC. They all share a credit limit which is fine by us. 1 of the cards (visa I think) gets us discounts at most of the hospitals like the Bangkok Hospital Group.

If you are paying to use credit cards then you are being played. They should be paying you to use them. Also, how do you buy plane tickets and stuff online with cash? This is a digital world so learn to stay on top or end up on the bottom.

Cash money has always worked for me. I've never understood why people use "plastic cards". You think it's for free, but it's not.

Spoken by someone who has no clue.

We have the family card from SCB and get back 1% every month (cash) on all the purchases we make. So basically we use the card everywhere we can (only if no fee is charged) and then pay in full (via auto pay) every billing cycle and collect 1% back. We make money and have the convenience of not having to have cash on hand at all times. Plus we get anywhere from 15-30 days to pay. Would someone like to point out the downside to this?

Next we are trying to get a citibank card (thai version) whihc is a little harder as Citibank vets the customers more. They have a few diff cards but the one we were looking at gives 5% back on shell gas and money spent at Big C. So especially we would use this card ONLY at Big C and Shell and use the scb family card at all other locations.

Also, SCB gave us 3 cards all linked together. 2 are visa and 1 is MC. They all share a credit limit which is fine by us. 1 of the cards (visa I think) gets us discounts at most of the hospitals like the Bangkok Hospital Group.

If you are paying to use credit cards then you are being played. They should be paying you to use them. Also, how do you buy plane tickets and stuff online with cash? This is a digital world so learn to stay on top or end up on the bottom.

[Neeranam]

I use prepaid credit cards.

Entropay is easy to get- https://www.entropay.com/

I also use cashplus, who do offer an overdraft if required. - http://www.mycashplus.co.uk/

[Jayman]

I was reading how other members of Thaivisa got their local credit cards

I have a MasterCard from my home country but sometimes in some South East Asian countries and in China I cannot used it to check in at a hotel and then I need to come up with cash before getting a room and pay for every consumption...which is ennoying. They say that my credit card is "defective" but is really not.... because I used it for many other online expenses.

I live in Thailand since many years on a Non Imm "O" visa (based on marriage) and my Thai wife has several credit cards with rather high spending limits. She uses most of all a SCB issued credit card but when she asked the bank manager to issue also a credit card for me and linked to hers - even with a small spending limit such as 25000 Baht - it was refused because I have no work permit (but I am retired and my pension is paid in my home country)

You indicate that SCB gave you several credit cards linked to the same spending limit, is this because you are here on a work permit?

Cash money has always worked for me. I've never understood why people use "plastic cards". You think it's for free, but it's not.

Spoken by someone who has no clue.

We have the family card from SCB and get back 1% every month (cash) on all the purchases we make. So basically we use the card everywhere we can (only if no fee is charged) and then pay in full (via auto pay) every billing cycle and collect 1% back. We make money and have the convenience of not having to have cash on hand at all times. Plus we get anywhere from 15-30 days to pay. Would someone like to point out the downside to this?

Next we are trying to get a citibank card (thai version) whihc is a little harder as Citibank vets the customers more. They have a few diff cards but the one we were looking at gives 5% back on shell gas and money spent at Big C. So especially we would use this card ONLY at Big C and Shell and use the scb family card at all other locations.

Also, SCB gave us 3 cards all linked together. 2 are visa and 1 is MC. They all share a credit limit which is fine by us. 1 of the cards (visa I think) gets us discounts at most of the hospitals like the Bangkok Hospital Group.

If you are paying to use credit cards then you are being played. They should be paying you to use them. Also, how do you buy plane tickets and stuff online with cash? This is a digital world so learn to stay on top or end up on the bottom.

I have no work permit and all the cards my wife was issued are in her name but I have never had issues using them.

[mickjn]

I have a Thai Bank account,which I put a few baht into especially when I go out country,there is no K Bank where I go.For credit card I used Master Card issued in Australia but I guess you can get one in LOS.You pay high intrest,but to me I do not care,I pay it off every month or two pay a little intrest so want,emergency comes I have to money,book it up.I also get free travel insurance that works.

The main thing that sold me on them was about 10 years ago I lost my wallett in Pattaya.I rang there emergency number,and said I wanted to report I had lost my card and was overseas.The was about 2 pm.The lady said I have cancelled your card but do you have enough cash.I said yes I am ok.She said if you not not I can make it now so you can go to the bank and get a cash advance without your card,I said no I am ok.She said ok,can you be in your room at your hotel at 11 am in the morning.I said ok.The next morning at 11 I guy came to my hotel,gave me a card,made a call on his mobile,put me on the phone,answered a few question,address,DOB,etc,lady on the phone said I have activated your new card.You cannot beat that for service