Thai Credit Card

[tdpark]

recently i just start my job in thailand, everythin goes well, got my work permit and bank settled(SCB), and now want to apply for a credit card.

i noticed the minimum salary at least 50,000/month in order to apply for credit card.

is there any bank that is lower than 50,000baht / month?

last question, anyone know what is the minimum salary for Citi?

[richard_smith237]

SCB should issue you with an ATM / electron debit card...

Unless you actually need credit this is a decent option. Im not sure how it works with online transactions though...

[CWMcMurray]

When I applied for KTC card a few years back they mentioned their Min salary was only 40 k for foreigners but they wanted you to have been working for at least 2 years

I am going to apply for AIA visa card as they offer 10% discount for hospital our family uses if paid for with this card

I called them 2 days ago and asked them some questions including if any min salary requirements, they advised 15 k

I asked them again if that was the same for foreign national and they said yes...

Not sure if this is actually the case or not , but you may want to give them a call

[KhunMoo]

A KBank it is now:

Eligibility

• Classic card
  

o Monthly Income THB 15,000 - THB19,999 for age between 20-45 years

o Monthly Income THB 20,000 or more for age between 20-80 years

• Gold card
  

o Monthly income THB 30,000 or more

• Platinum card
  

o Monthly incomeTHB 50,000 or more

The paper-process is Sloooooooow, and you need to go back, to the Bank several times to sign #€%#€& documents. I suggest, if you have money - just stick with the Debit card? All restaurants here take it, in the web-bank you can create "virtual credit cards" for online use.

In my opinion its not worth the hassle to get credit cards - to be honest, apart from the insurance part (Wich the always try to run away from anyway) i never got the importance of credits cards. Debitcards, always suited me better as they normally have higher limmits for cash redraw abroad...

[saengsureeya]

KTC asks for a minimum of THB 15,000.............Thais only.

The same bank asks for a minimum of THB 600,000 per year for foreigners.

I've been in the process of getting a cc at Kasikornbank........very difficult.

Same with SCB......very difficult.

They both want ridiculous guarantees.

I ended up with an American Express Corporate Card......of course I needed a work-permit and a salary of at least THB 50,000 per month.

A good alternative are the so called Web-cards. Those cards are debit-cards, but suitable for online purchases.

You deposit a certain amount from your bank-account onto the Web-card and you can use it for purchases.

Dis-advantage: The amount on the web-card is under no circumstance insured.

A good example is: http://www.kasikornbank.com/EN/Personal/Debit/Pages/KWebShopping.aspx

[Soutpeel]

Same with SCB......very difficult.

dont know about that, I had an SCB gold credit card within two weeks of arriving in country good for 150k when I started work here

[CWMcMurray]

When I did KTC they mentioned MIN40k, but that was a few years ago, so could have very well changed

Also have Citi platinum , but that is a bit higher

The AIA one may still be interesting for OP to check out. It is likely that even after specifically asking if the min salary of 15k is only for Thai or Foreigners as well, They may have given me the wrong info and it may be higher for foreigners

Also have read about others having problems when applying at a bank. Both cards I applied for at one of the cc booths set up at the Mall and in each case process was simple and person was very helpful and go the cards within 2 weeks in both cases

I would guess that because at the cc booths, they get paid when you are approved but for employees in the bank their are no incentives , so just extra work for them...

Edited August 10, 2012 by CWMcMurray

[NBD]

I believe Bank of Thailand sets a regulatory salary threshold for foreigners to be earning before they are eligible for a Thai credit card. I think that is 40,000THB but I'm not sure.

Plan B is you can get the convenience of a credit card but no actual credit by putting in a time deposit equal to the limit of the card.

A debit card is great, but very difficult to buy flights, hire cars etc. Also some of the CC's give very good terms on big purchases. We bought a load of stuff on a friend's credit card when we furnished the house last year and paid it off interest free over 10 months, which makes shelling out 200,000 THB a lot less painful.

[CWMcMurray]

Another may be AEON

I understand that many of their customers seem to be on the lower salary range for Thais, so not sure of this means that income requirements are lower???

The above is just based upon anecdotal evidence in seeing the waiting rooms, so I could be wrong

May be worth for the OP to check

[tdpark]

KTC asks for a minimum of THB 15,000.............Thais only.

The same bank asks for a minimum of THB 600,000 per year for foreigners.

I've been in the process of getting a cc at Kasikornbank........very difficult.

Same with SCB......very difficult.

They both want ridiculous guarantees.

I ended up with an American Express Corporate Card......of course I needed a work-permit and a salary of at least THB 50,000 per month.

A good alternative are the so called Web-cards. Those cards are debit-cards, but suitable for online purchases.

You deposit a certain amount from your bank-account onto the Web-card and you can use it for purchases.

Dis-advantage: The amount on the web-card is under no circumstance insured.

A good example is: http://www.kasikornb...ebShopping.aspx

do you know if SCB have this service?

[Bpraim1]

I got mine with Bangkok Bank and UOB Bank, No extra hoops to jump.

filled out app, showed monthly income, assets, Bangkok Bank man came to house and took a couple pic's.

About a week later got an sms that cc was approved. Done

The first CC I got about 5 yrs ago I had to put money in a fixed account. This was with UOB, after 1 yrs they allowed me to keep the CC and released the funds.

I don't have a work permit, I'm here on a NON O visa.

[therealmrbrightside]

I got my CC with SCB by simply filling in a form and showing my work permit and Visa. They also asked for a reference, so I used my boss' name without even asking him. Platinum Credit Card approved a month later with a 100k limit. I don't work in Thailand any more so my WP and Visa are finished but I have kept paying my card and it's great to have as emergency cash...

[Gone]

I remember SCB saying you have to have been employed steady for 2 years with WP and that doesn't mean leaving Thailand even for holidays. That means residing here for 2 years strait.

Soutpeel: I'm not sure how you got yours that fast?

[Soutpeel]

I remember SCB saying you have to have been employed steady for 2 years with WP and that doesn't mean leaving Thailand even for holidays. That means residing here for 2 years strait.

Soutpeel: I'm not sure how you got yours that fast?

Most likely company influence I am guessing...When I arrived here, I was taken down to SCB by company admin to open an account for my Thai salary deposits/expenses and got a credit card card in the post about two weeks later, guessing somewhere in forms I signed there must have been one for a CC as well...

[therealmrbrightside]

I remember SCB saying you have to have been employed steady for 2 years with WP and that doesn't mean leaving Thailand even for holidays. That means residing here for 2 years strait.

Soutpeel: I'm not sure how you got yours that fast?

Well I only had a standard savings account for about 6 months when i applied for mine, i had to prove i had been working for the thai company over 6 months by providing wage slips....it was that easy.

[fletchsmile]

I remember SCB saying you have to have been employed steady for 2 years with WP and that doesn't mean leaving Thailand even for holidays. That means residing here for 2 years strait.

Soutpeel: I'm not sure how you got yours that fast?

Most likely company influence I am guessing...When I arrived here, I was taken down to SCB by company admin to open an account for my Thai salary deposits/expenses and got a credit card card in the post about two weeks later, guessing somewhere in forms I signed there must have been one for a CC as well...

All the things people quote are simply banks' policies. It's common that banks will set higher levels for foreigners, with 50k been a common one. Yes they like work permits, and yes they will often want 6 months of bank statements and long term visas and so on.

I used to work in banking here, though not in credit cards. What happens is that if your company has influence, eg large company that gives good corporate business, pays the payroll for all employees thru that bank etc then things can be made to run smoother. Even then it depends on whether the people in your firm cultivate relationships with the bank. Or if you know someone in the bank that personally refer you that helps a lot too.

I used to refer friends that came to me. Obviously I only did with people I was comfortable vouching for. Given my senior position and putting a good case I saw them wave work permit requirements, number of months in country etc, so it can all be done. My wife has zero income now as a housewife, she still has a Platinum card in her own name, so even the 15k minimum can be overlooked - although that said she is a priority/ premier banking customer with assets of over THB 3mio with the bank and her own relationship manager which also helps.

What you have to bear in mind is that there are quite a few dodgy foreigners in Thailand, who just leave and never pay balances so foreigners are higher risk. You are also not Thai so not really part of the system. Hence the creation of hoops to go thru for other foreigners, particularly those who are not known to anyone. It's really just a microcosm of how Thailand as a country functions.

Always worth asking for exceptions, and to see managers etc, with a smile on your face and praise for Thailand of course. And if you don't get what you want in one place try another place or person

[Gone]

I remember SCB saying you have to have been employed steady for 2 years with WP and that doesn't mean leaving Thailand even for holidays. That means residing here for 2 years strait.

Soutpeel: I'm not sure how you got yours that fast?

Most likely company influence I am guessing...When I arrived here, I was taken down to SCB by company admin to open an account for my Thai salary deposits/expenses and got a credit card card in the post about two weeks later, guessing somewhere in forms I signed there must have been one for a CC as well...

Ok got it. I had the same thing working in Kuwait. Had to open a bank account for direct deposit and like you said I must have signed for a CC too.

For sure here in LOS it used to be 2 yrs steady work with WP as well but it seems from others here that that is changing. That's good.

[saengsureeya]

A good alternative are the so called Web-cards. Those cards are debit-cards, but suitable for online purchases.

You deposit a certain amount from your bank-account onto the Web-card and you can use it for purchases.

Dis-advantage: The amount on the web-card is under no circumstance insured.

A good example is: http://www.kasikornb...ebShopping.aspx

do you know if SCB have this service?

Can't find it on their website, but maybe that their Debet Card (not ATM card) is suitable for online purchases.

[yourauntbob]

I would recommend just using your card from your home country. Fees and interest are quit high here. Very few places (if any) will not accept a visa or mastercard from another country and usually the interest will be significantly lower.

[CWMcMurray]

Interest may be higher for local Thai Card, but fees are definitely higher for most foreign cards

As most will charge foreign transaction fees and may give poor exchange rates

Also as OP is working in Thailand it may not be convenient for him to use his foreign card as he may then need to do an international transfer back to his home country to pay the bill, which would then incur even more fees

Also local cards give local benefits that foreign cards may not

For example:

Thai citi card gives 10% discount in tha Mall and free valet parking or special reserved parking spots (depending upon the location) and VIP lounge, points redeemable for gift vouchers, discount on gas purchases at Shell, free local roadside assistance, fast track at immigration and many other discounts at local resturaunts, hotel

The AIA card gives 10% discount on all OP &IP procedures and 20% discount on room rates for various local hospitals

And all other local cards have other types of local benefits depending on the type of card

Given the above, of you use your local card and pay it off at the end of the month, it is usually a better option

Edited August 12, 2012 by CWMcMurray

[Spoonman]

The paper-process is Sloooooooow, and you need to go back, to the Bank several times to sign #€%#€& documents. I suggest, if you have money - just stick with the Debit card? All restaurants here take it, in the web-bank you can create "virtual credit cards" for online use.

My process with Kbank was very pain free, I filled out the application and gave the required supporting documents. 1 month later the card (Platinum) arrived in the mail, was no need to have to visit several times.