Confused Over Credit Ratings

[Businessman]

I own a modest business here. Most of my staff have all applied for and received one or more credit cards. Two years ago I applied for a local credit card and was refused. Ok, I accept this, as I was not collecting a salary.

Today business is better and I think to myself... why not get a credit card? I see Air Asia was promoting a card with travel perks.... just the ticket (excust the pun).

I went the their web page describing elegibility: http://www.airasia.com/creditcard/th/eligibilityEn.htm

Thai AirAsia Credit Card Applicants' qualification

Primary (Basic) Card

? Applicant must be between 20 to 65 years of age.

? Minimum monthly income of 15,000 Baht.

Foreigners

? Applicant must be between 20 to 65 years of age.

? Minimum monthly income of 80,000 Baht

Now here's the issue for discussion.... is it right that to obtain, (suposedly the same) credit level a forreigner must earn 5 times the amount that a national? What is the rationale?

[Tippaporn]

First, to , Businessman.

Might be to prove stability. What's to prevent a transient foreigner from racking up some debt and then skipping out, never to be found again? Just a thought.

[samran]

You need a work permit. If you do, life becomes alot easier.

[GuestHouse]

And when you get your credit card, you have a pittiful credit level, nearly non existant purchase protection, no fraud protection and annual fees.

Whereas a card from back home provides all the benefits with no charges, and if you choose your card right you can get several months intrest free credit.

Why any foreigner would want a second rate Thai credit card is beyond me.

[Digger]

And when you get your credit card, you have a pittiful credit level, nearly non existant purchase protection, no fraud protection and annual fees.

Whereas a card from back home provides all the benefits with no charges, and if you choose your card right you can get several months intrest free credit.

Why any foreigner would want a second rate Thai credit card is beyond me.

If you earn your salary in Thailand, it makes sense to have a Thai credit card, thats probably why foreigners would want a Thai based card. Having said that I just a locally issued Amex card which is perfect for what I need which is basically using it for hotels and car rentals outside of Thailand.

[sting01]

And when you get your credit card, you have a pittiful credit level, nearly non existant purchase protection, no fraud protection and annual fees.

Whereas a card from back home provides all the benefits with no charges, and if you choose your card right you can get several months intrest free credit.

Why any foreigner would want a second rate Thai credit card is beyond me.

To explain you :

In my country, people will look at you as a 'potentially bad person' if you live there, earn money there and use an abroad bank account. It will just mean you do not care with the country, his economic stability (send money abroad rather than to use it locally, as french bank used the deposit to do investment on the french economy). To be short, let say if one day you apply for french citizenship but did not use the banking system in the past, it will certainly be refused.

Same apply to foreigners in thailand. Those who genuily decided to move their life here simply think it's natural to use the local banking system. There is things that are considered by some of us as more important than some little money.

Alas, if the way to do is (in my 2 cents) the honorable one and the one that should be taken by a gentleman (I mean use the local banking system with amongs many things the issuing of local CC); fact is Thailand obviously is not interresting by our wishes. Well, to make short (stupid generalisation but it's also not far to be a truth) Farang must pay.

Someone who have a legal business (capital already invested in thailand), who legally live in Thailand, with eventually a thai wife and half thai kids, will not flee home because dept, or if he do so it will be easy to trace him. I do understand the Khao San Road backpacker can not have any banking here (in France he will not have also), but the OP obviously is not a backpacker. So yes , Farang must pay .... SCB need 150 000 bht/month as salary to deliver a thai CC.... What is the salary of an english teacher (A legit one with diploma and experience) 30 K 35 K maybe 40 K ...nothing related to security. Just .... like so many things here.

[Thaiquila]

This policy sounds basically unfair.

Add it to the long list of other unfair double standards we encounter in Thailand.

[samran]

This policy sounds basically unfair.

Add it to the long list of other unfair double standards we encounter in Thailand.

In the UK you can't even open a bank account with a proper long term visa, let alone a credit card. Some banks won't even open up a bank account unless you you have been in the country for a year.

Thailand is no different, and probably easier, than most places.

[sting01]

This policy sounds basically unfair.

Add it to the long list of other unfair double standards we encounter in Thailand.

In the UK you can't even open a bank account with a proper long term visa, let alone a credit card. Some banks won't even open up a bank account unless you you have been in the country for a year.

Thailand is no different, and probably easier, than most places.

Yes and no.

Be a tourist in European Union, you will not be able to open a bank account in a country there (or you must be a german tourist touring in france, or a spaniard touring in Belgium). but in Thailand , as tourist you can find bank that will accept to open a saving account. So yes, easier here. And assuming by long term visa you imply a long term touristic visa. A 10 years visa delivered after you have a work permit (as it's the case in France), is not only a visa, but a residence certificat, and by so allow you to be not considered as tourist (not residing , nor paying taxes) but as a resident (living, paying taxes, working). The point is important, if the OP have a business here, I am assuming he is not a tourist (he does not do a monthly gig to Polpet).

As legal resident in a country inside the European Union, you can open a bank account, personnal or professional and by so have all the advantages of that account (CC, loans ...). In France, you will not need more paperwork than a french citizen, but a copy of your visa in more of your passport copy (a french citizen will give only the copy of the ID). I will not comment on what is need in Thailand, the OP gived to us a concrete exemple for a legal resident in Thailand. Btw us for SCB it's 150 000 bht per month, not just 80 000 bht. So no, it's very different and more complicate. More, I would like to say if one day a bank or assimilate decided to do the same in France, that bank would be sued as racist or xenophobist etablisment.

On the other hand, and it's maybe the point, we are only guess here, so if really it bother us too much, the best solution is simply to leave (thai people are the only ones who know what is the best for themself or their country). So, personnaly I am looking to change the system, anyway it's was not designed to made my life easiest. But if one day the system is too much bothering me, I will simply take my money back and go somewhere else where grass look more green.

Edited May 7, 2006 by sting01

[moonoi]

And when you get your credit card, you have a pittiful credit level, nearly non existant purchase protection, no fraud protection and annual fees.

Whereas a card from back home provides all the benefits with no charges, and if you choose your card right you can get several months intrest free credit.

Why any foreigner would want a second rate Thai credit card is beyond me.

To explain you :

In my country, people will look at you as a 'potentially bad person' if you live there, earn money there and use an abroad bank account. It will just mean you do not care with the country, his economic stability (send money abroad rather than to use it locally, as french bank used the deposit to do investment on the french economy). To be short, let say if one day you apply for french citizenship but did not use the banking system in the past, it will certainly be refused.

Same apply to foreigners in thailand. Those who genuily decided to move their life here simply think it's natural to use the local banking system. There is things that are considered by some of us as more important than some little money.

Alas, if the way to do is (in my 2 cents) the honorable one and the one that should be taken by a gentleman (I mean use the local banking system with amongs many things the issuing of local CC); fact is Thailand obviously is not interresting by our wishes. Well, to make short (stupid generalisation but it's also not far to be a truth) Farang must pay.

Someone who have a legal business (capital already invested in thailand), who legally live in Thailand, with eventually a thai wife and half thai kids, will not flee home because dept, or if he do so it will be easy to trace him. I do understand the Khao San Road backpacker can not have any banking here (in France he will not have also), but the OP obviously is not a backpacker. So yes , Farang must pay .... SCB need 150 000 bht/month as salary to deliver a thai CC.... What is the salary of an english teacher (A legit one with diploma and experience) 30 K 35 K maybe 40 K ...nothing related to security. Just .... like so many things here.

I have an SCB credit card and I don't earn anywhere near 150000 bht/month. Although I also notice it seems to be down to who you know here. At first I was refused, then spoke to my collegue who happened to "know" the branch manager.....I just had to transfer my salary payments to SCB after they saw it payed into my account for 3 months they then gave me the CC (and a proper CC too not like BBK who require you deposit 100k before giving you a "CC" with a 100k limit), admittedly the credit limit is woefully low but its just about enough to manage with. I also just applied for citybank CC too, still waiting to hear back on the decision from them.

Funnily enough I lived in France for a few years before moving here. It was much easier to obtain credit and open bank accounts there, although I suspect thats because I'm an EU citizen....used to need a carte de sejour (issued automatically to EU residents) until 2004 when the rules were changed to bring into line with the rest of europe....just need passport or national ID of your EU home country to open an account now.

Edited May 8, 2006 by moonoi