Thai Credit Card Acquisition for retiree. Possible?

[PlastikbinLina]

I use an overseas bank CC and it is quite annoying to have to pay foreign transaction fees every time I make a purchase here in Thailand. I've been told I have to have a work permit first before I ca get one but I'm retired although I do get a reasonable income from my two pensions. Can anyone tell me if it is possible to get a CC here? Thanks in advance for any help.

[Upnotover]

There are many threads here on the same subject, search in banking. Most conclude that yes, some banks will issue credit cards without work permit, but in most cases you need to deposit an amount at least equal to the credit limit in a locked deposit account. Ask your bank I'd suggest.

[LivinginKata]

Even with a work permit it's almost impossible to get a credit card from a Thai bank. You should be able to get a debit card but you must have secured funds in the bank account.

[macahoom]

Even with a work permit it's almost impossible to get a credit card from a Thai bank. You should be able to get a debit card but you must have secured funds in the bank account.

I don't know what you mean by "secured funds", but I have several debit cards and getting them was simple.

I don't have a Thai credit card, but I asked about getting one in UOB a few weeks ago. I don't have a work permit. They could give me one, but, in order to get it, I would be required to lodge one million Baht in a six month, fixed account.

I haven't asked in other banks.

[LivinginKata]

Even with a work permit it's almost impossible to get a credit card from a Thai bank. You should be able to get a debit card but you must have secured funds in the bank account.

I don't know what you mean by "secured funds", but I have several debit cards and getting them was simple.

I don't have a Thai credit card, but I asked about getting one in UOB a few weeks ago. I don't have a work permit. They could give me one, but, in order to get it, I would be required to lodge one million Baht in a six month, fixed account.

I haven't asked in other banks.

I guess what i mean by secured is that 'one million baht' is secured funds, although that might be for a credit card. Quite honestly the entire credit card thing is a mystery to me. My Thai wife was badgered by our local Siam Commercial bank to apply for a credit card. We have a long banking history with this bank, even secured a loan years ago (all paid back now), my wife owns a number of properties in her own right. Initially I thought she did not need a Thai bank credit card (she has one issued by my UK bank) but like the OP stated about charges I thought it might be useful to have a Thai credit card. So she made the application. A month went by with no approval by the head bank in BKK. She made many enquiries at our local bank in Karon. Turned out we did not have enough turnover in our bank account, needed to be 60,000 baht a month. Really, how many average Thais have 60,000 baht going through their bank account per month. What a joke, we told the bank to shove it (but not in those exact words). I solved the problem of paying for flight bookings and other bills by applying for internet banking. Now I just pay the internet booking and orders in baht direct from our bank account over the internet.

[andreandre]

Even with a work permit it's almost impossible to get a credit card from a Thai bank. You should be able to get a debit card but you must have secured funds in the bank account.

Not at all..i've had a SCB Credit card for at least 6 years..got it when on a tourist visa even..Only catch was that for a 50kbaht credit card i had to deposit 100kbaht fixed..still get a little interest on it but for the convenience of having the card is worth it all.

To the OP..whether a retiree or not shouldn't make any difference...i was a retiree at the time also

Edited January 28, 2014 by andreandre

[stevenl]

Turned out we did not have enough turnover in our bank account, needed to be 60,000 baht a month. Really, how many average Thais have 60,000 baht going through their bank account per month.

I guess that is why they have the requirement of 60,000 Baht per month.

[Tomtomtom69]

Even with a work permit it's almost impossible to get a credit card from a Thai bank. You should be able to get a debit card but you must have secured funds in the bank account.

Not true at all. With a work permit and 6 months worth of pay slips from your employer(s) in Thailand and a minimum income you can easily obtain a Thai credit card.

[LivinginKata]

Even with a work permit it's almost impossible to get a credit card from a Thai bank. You should be able to get a debit card but you must have secured funds in the bank account.

Not true at all. With a work permit and 6 months worth of pay slips from your employer(s) in Thailand and a minimum income you can easily obtain a Thai credit card.

I did say 'almost' impossible. I conceed that that some sort of guarantee money locked away in a fixed accounts (as per andre's post) and it's just about possible to obtain a credit card. But I just can't be bothered with all this fixed account hassle. Sure I have the funds, but don't need all that hassle.

tomtom - in your case do they issue a credit card without any 'guarantee' money. How much credit does your bank offer.

For me a Thai credit card was never worth the hassle of applying and placing money in a fixed account. i have a number of credit cards from my home country. I only need credit cards for processing internet transactions, really quite small money but necessary to process these internet transactions.

[belg]

krungsi ... put in xx amount and get 90% of that available...

[Dogbreath]

Credit cards are available from major Thai banks with a deposit up to the desired amount of credit. Have had one for four years. Just try to book a plane ticket, make a hotel reservation or book a car rental online without one. I had said to hell with credit cards after 40 years and closed my accounts with the US banks thinking I would be OK without. Big mistake. Good luck.

[Lenthai]

Go to ghe Bangkok Bank open an deposit account as a quaranty with minimum 100.000 THB and you can apply for a creditcard.

Sent from my iPad using Thaivisa Connect Thailand mobile app

[dotpoom]

I'm retired here, have no regular income. Had a CC with SCB with a limit of whatever I lodged with them, they kept my bank book. When the manager at my K Bank heard about this he asked me why I did not ask them for CC....I cancelled my SCB card and got one off the K Bank for the same limit.....with no lodgement necessary to meet the amount. I didn't have a lot of money with them, the TMB is my main bank.

[abrahamzvi]

Even with a work permit it's almost impossible to get a credit card from a Thai bank. You should be able to get a debit card but you must have secured funds in the bank account.

I don't know what you mean by "secured funds", but I have several debit cards and getting them was simple.

I don't have a Thai credit card, but I asked about getting one in UOB a few weeks ago. I don't have a work permit. They could give me one, but, in order to get it, I would be required to lodge one million Baht in a six month, fixed account.

I haven't asked in other banks.

If you have a Thai bank Account with steady funds coming in (overseas pensions) I am sure you can get a CC, but you'll have to deposit with the bank an amount equal to the CC Limit, in a saving or a fixed deposit account.

I am speaking from my own experience.

[macinc]

The simple answer to your question is yes you can.

I am on a Retirement Visa and have a Visa card from BKK Bank. The credit limit is THB250,000 which is secured by a similar amount deposited in a fixed account which does pay interest. Can't remember precisely what the interest rate was/is? One of the main reasons for my getting the card was that in the event of a medical emergency I had the 'instant' means to pay for initial treatment.

[Cheops]

Even with a work permit it's almost impossible to get a credit card from a Thai bank. You should be able to get a debit card but you must have secured funds in the bank account.

Not true at all. With a work permit and 6 months worth of pay slips from your employer(s) in Thailand and a minimum income you can easily obtain a Thai credit card.

I did say 'almost' impossible. I conceed that that some sort of guarantee money locked away in a fixed accounts (as per andre's post) and it's just about possible to obtain a credit card. But I just can't be bothered with all this fixed account hassle. Sure I have the funds, but don't need all that hassle.

tomtom - in your case do they issue a credit card without any 'guarantee' money. How much credit does your bank offer.

For me a Thai credit card was never worth the hassle of applying and placing money in a fixed account. i have a number of credit cards from my home country. I only need credit cards for processing internet transactions, really quite small money but necessary to process these internet transactions.

Try Central cc first. Easy if you have a wp and some months work history.

For the Central cc they gave 3 times a month income as limit.

After that I opened an account at Kasikorn and applied for a cc as well (since I wanted to rather have a cc from a real bank).

For the Kasikorn cc initially 2 times, which was later upped to 3 times. (Could get more but I don't need more).

One thing though: dress politely! Thais like that. And speaking Thai helps as well, although I initially didn't have a big vocabulary.

[jacko45k]

Even with a work permit it's almost impossible to get a credit card from a Thai bank. You should be able to get a debit card but you must have secured funds in the bank account.

Rubbish.

I have 2.

I have a retirement extension.

Bangkok Bank were very keen to issue me CCs...so long as I had a fixed deposit to cover them.

Edited January 28, 2014 by jacko45k

[JustinCredible]

Try American Express. They pestered me for weeks to accept a CREDIT card (NOT Charge Card) when they launched one a few years ago in association with Thai Air.

It was a true Credit Card with a good limit (135k) and NO REQUIREMENTS to deposit any Cash at a bank or with them. I am retired and just had to provide the normal proof of income and Passport etc.

Worth looking into.

JC

[Nemesis7]

against a Secured deposit of 100K i got Krung thai Platinum CC with a limit of 100K

And from ayuthaya Gold card for 100K against Fixed deposit with interest.

My understanding is being a foreigner even with 20K if you secure it at any bank they will issue you a CC for the secured amount. ( but hey its Thailand.....I can be very well wrong with my thinking 0

[bigbamboo]

I've had two SCB debit cards (one MC and one VISA) for several years with just a 100K secured deposit linked to my current a/c so that the bill is paid automatically every month and thus no interest or charges.... ever.

Works the same as a credit card, very convenient can use it overseas and as already mentioned by another poster there are times you simply need a card for hotels, car hire, internet payments etc.

[Cheops]

I'm retired here, have no regular income. Had a CC with SCB with a limit of whatever I lodged with them, they kept my bank book. When the manager at my K Bank heard about this he asked me why I did not ask them for CC....I cancelled my SCB card and got one off the K Bank for the same limit.....with no lodgement necessary to meet the amount. I didn't have a lot of money with them, the TMB is my main bank.

Same experience here. K-bank is THE bank for foreigners.

[nedkellylives]

You can get a Thai bank credit card if you have a non O retirement visa

I have had one for 4 years now, but other people seem to be getting a better deal than me

The bank holds a 200K bank account for 100K credit

[stevenl]

Even with a work permit it's almost impossible to get a credit card from a Thai bank. You should be able to get a debit card but you must have secured funds in the bank account.

Rubbish.

I have 2.

I have a retirement extension.

Bangkok Bank were very keen to issue me CCs...so long as I had a fixed deposit to cover them.

Yes, as mentioned, you need the secured funds.

[Estrada]

I have had Citibank Visa and Master Cards for 20 years issued here with no security from when I had very little money in the bank. The combined Credit Card limit is B270,800 with no collateral required at all. What I do have is a 20 year record of making regular payments against the balances due. These days I pay the balance due completely so as not to incur interest charges. So I am considered an excellent risk. I am also retired.

[NoshowJones]

Even with a work permit it's almost impossible to get a credit card from a Thai bank. You should be able to get a debit card but you must have secured funds in the bank account.

Not true at all. With a work permit and 6 months worth of pay slips from your employer(s) in Thailand and a minimum income you can easily obtain a Thai credit card.

i thought you could get anything in Thailand "under the table" you do it with Immigration, police, driving licences etc etc etc. I have never heard or read about "under the table" payments to bank managers. Bank managers are like everyone else in this country who have jobs with some authority, they make up their own rules. I wonder if any other TV posters have heard or read about this.

[mrfaroukh]

Even with a work permit it's almost impossible to get a credit card from a Thai bank. You should be able to get a debit card but you must have secured funds in the bank account.

I don't know what you mean by "secured funds", but I have several debit cards and getting them was simple.

I don't have a Thai credit card, but I asked about getting one in UOB a few weeks ago. I don't have a work permit. They could give me one, but, in order to get it, I would be required to lodge one million Baht in a six month, fixed account.

I haven't asked in other banks.

I think you will be better off without credit card as if it is miss used by others probably you will be responsible. It is not like Europe. Use your home credit card for all your shopping on net and reputed shops. Else use your Thai bank for daily use.

[NoshowJones]

Go to ghe Bangkok Bank open an deposit account as a quaranty with minimum 100.000 THB and you can apply for a creditcard.

Sent from my iPad using Thaivisa Connect Thailand mobile app

Wrong, I have a Bangkok bank account with 200.000 Baht. I asked to apply for a credit card, and the teller waved his hands and said "no no". Another case of some will, some won't.

[movsrus]

I have a Capital One CC issued in the US which I use in Thailand. I pay no foreign transaction fees and when I check the exchange rate which I am charged for purchases here in Thailand it is generally the same as the TT transfer rate I get when I move money from the US into my Bangkok Bank account.

One advantage of having a US based card is that if there is ever a problem and an unauthorized charge shows up on the bill you can dispute the charge with Capital One and not be held responsible if it is unauthorized. I don't think the Thai issued CC have the same coverage so if a charge were to be billed you would have to go through more hoops to get it removed than you would in the US.

I could be wrong but I have not had any problem with my Capital One card over the past 4 years of use in Thailand.

[Lenthai]

I got one fron Bangkok Bank without any problems

Sent from my iPad using Thaivisa Connect Thailand mobile app

[cnx37]

As with a number of other members, I had no problem obtaining a credit card in Thailand. I cannot remember the visa requirements. However, for B100k credit card, I needed a separate fixed term account for a similar amount - trusting souls - there must be a good reason (of course we are trusted) - BKK Bank