Thai Credit Card Acquisition for retiree. Possible?

[bender92]

I'm retired with a Bangkok Bank credit card. I have 100,000 baht limit, and I must maintain 200,000 baht is a separate account to cover it and overages. It is paid automatically from my ATM account.

[gamini]

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.

I got a visa CC from BKK bank. But I have no deposits and only keep about Bt25,000 in my ATM account and i am a retiree. But perhaps it is because I have had an account with them for over 30 years and have taken out housing loans and borrowed money in the past and paid it back and they trust me

[phuketrichard]

I currenltyy have a thai american express ( no secured deposit) an use it for all my credit card purchases, gas station, supermarkets ( including air asia and nok flghts.)

no idea how to get one now, as i got mine back in the 90's but worth checking, online banking an it is tied to my thai mileage.

It appears from all the responses that require secured deposits n the bank it is not a credit card but a debit card.

Edited January 28, 2014 by phuketrichard

[sead]

Kasakorn in Pattaya. I only needed passport. Try there. Got debitcard and internetbank in 20 min

[Blackberry9700]

4 years ago I applied for a credit card with almost all of the Thai banks here Bangkok, with documents such as work permit copies, pay slips and letter from the employer but got rejected by all. My last resort was American Express Thailand, downloaded the application for their Gold credit card, filled in the application and sent it to them via EMS. Two weeks later I receive a call from AMEX Thailand saying that my credit card was approved with a credit limit of 40K. After using the Amex Credit card for a month, I then applied with the Thai banks who had rejected me earlier and got the credit cards approved with no deposit money required.

Edited January 28, 2014 by Blackberry9700

[lblake32]

So you put the cash up front and the bank issues you with a card. You are the one giving the credit - to the bank - in exchange for the cpnvenience.

[asiaexpat]

Like any form of credit,and a credit card is just that, the lender must assess the risk of granting credit. When one is not a resident of a country and has no credit record some form of security must be arranged before the credit can be extended. Thus the secured credit card. Banks will assess the risk and set terms based on that, therefore the secured amounts vary. Those that obtained credit cards years ago did not have the same set of criteria.

[brancodug]

I applied just before Christmas for one with Bangkok bank I have been with the same branch for over 5 years, i did have to deposit 100,000 baht into a fixed term account for a year, last week i got a sms message that said ive been successful from the bank and i can pick it up in a few days times. went to the bank and they said it will be here this week. my limit is meant to be the same as the term deposit. Also had a mate who applied with Kasikorn and they said no to him

[Horizon77]

I am not so sure I can help but based on experience my bank asked a fix deposit of 150,000 TBT to grant me a CC but if I wanted to keep it longer I had to make the second year a second fix deposit of 150,000 TBT once more ans so during 5 years til the bank gets a total fix deposit of 750,000 TBT with ayeraly interest of 5%.

As I thought the deposit needed was too high on long term, I renounced to get the CC.

Maybe I was wrong ?

[stgrhe]

Are yo asking about a credit card or a charge card? You can have any by appling at American Express if you have an address here. If you have an account at a Thai bank you would also be able to choose the type of card.

[Horizon77]

I was asking for a credit card like VISA for instance but what do you mean with Charge Card ?

Is the American Express card a charge card and what would be then the difference with a credit card ?

In case I had like applying for an American Express card, where could I ask to get one ?

[Crossy]

I'm working, but when I got my Thai AmEx credit card (yes, it's a credit card) the nice lady did say that they were the only company offering unsecured cards to retirees. They bugged me by mail (via my ROP membership details) and in the office, but they do have an office in BKK, check on their website.

They are certainly worth a look, AmEx is much more widely accepted here than back home in Europe.

[Neilcnx]

Kasikorn bank has a web card tied to a savings account. You can use it to make online purchases. They dont issue a card only a visa or mastercard number with the 3 digit identifier - forget what it's called.

SCB will issue a credit card with 100% limit per your deposit in a fixed savings account - they keep the book.

[apiwan]

Don't know why everyone wants banks to issue credit cards with no security,

I can understand the secured on your savings point.

You could just run away,

You can do most things with a Thai debit card,

I have a Thai tesco credit card,but it's an add on to my gf,s, which I only use to pay for diesel at esso,

She said she gets points or something trivial.

Credit cards are the devils work,

I have 1 now and it gets paid off straight away,

Sent from my iPad using Thaivisa Connect Thailand

[Tchooptip]

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.

Even with a work permit it's almost impossible to get a credit card from a Thai bank ???

OK I believe every one but then so why do I got so easily a Visa card from Krungsri bank, I went in this bank in Lamai for the first time, deposed 200.000 and get out 30minutes later with my visa card! On top of it with my own chosen secret code.

I have no work permit, I am retired , I only show my Thai driving licence, and proof of my address given by my owner.

[Tchooptip]

I used to have a credit card with Krungsri Bank (Yellow Bank - Ayudhya): http://www.krungsri.com/th/index.aspx ) and I dont work, but its not really a credit card as it uses MY money, not the banks money.

The way it works is; I am allowed to draw a percentage of what I deposit and the deposit is blocked.

So, for example, you open a new account and deposit 100,000 Baht. This 100,000 baht is blocked from your use and you earn no interest from it. Should you close the account you will get ALL the money back, but apart from drawing off it like a Debit card, you must forget about it.

When you use your credit card for a purchase you are allowed purchases up to approximately 80% of the amount you deposited, so in our example, not the full 100,000 Baht.

When your credit card statement arrives, if you pay it all off before the end of the month, you pay no interest. Go over the time and like any other credit card, you will be charged interest ON YOUR OWN DEPOSITED MONEY. And they will hound you for your payment by phone if you are a second overdue, even though IT IS YOUR MONEY! You can set up a Direct Debit to either pay the minimum or the full amount owed each month. Good luck with that, as I set it up several times, but always ended up going into the bank to pay cash.

The reason I stopped it was simply that a Debit card is more practical and amounted to the same thing WITHOUT tying money up in a non-interest account, although I cant blame the Thai banks for protecting themselves from people coming here, getting a credit card, running it up to max and then going home. - theMagician

I have a Visa card from the same bank Krungsri

It is a saving account so with a yellow book and of course interest. Next time I will go to the bank I will ask what is that I can only use 80% of my own money? Was your card a Visa?

[ableguy]

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.

Bangkok bank put money into a credit account get a card and borrow your own money, simple .

[unclueng]

My wife has had a banking relationship with Bangkok Bank for nearly 50 years. We always used Bank of America in the USA for our credit cards. However, when BofA instituted a foreign transaction fee we decided to get a Bangkok Bank credit card. Since neither of us has Thailand based income BBL refused to issue a credit card without a fixed deposit account to guarantee the account. As a matter of principle I refused to do this. We went into Kasikorn Bank in our local area. The manager at the branch contacted the head office and told them she knows my wife and her family, that we owned a big house, and would not run away. Kasikorn Bank issued us credit cards with no fixed deposit account. We moved all our funds into Kasikorn Bank and just have 2 minimum deposit accounts with Bangkok Bank for direct deposits from Social Security through Bangkok Bank in New York. Every time a payment is received we immediately transfer it to K-Bank. The staff at BBL ask why, and I show them the K-Bank Visa Card and tell them Bangkok Bank just said "NO".

[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.

Yes, as mentioned, you need the secured funds.

Well it appeared that was in reference to a debit card.

And anything I spend on the CC is not deducted until the next month, and then taken from the savings account, so the interest on the fixed deposit is not affected and I do get some credit. I like to keep the money there for the annual retirement extension anyhow.

The credit card has been used as guarantee too for overseas hotel stays.

I don't need long term credit, I always pay off my UK cards every month too as the interest rates are high.

I wanted the convenience.

Edited January 29, 2014 by jacko45k

[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.

I got a visa CC from BKK bank. But I have no deposits and only keep about Bt25,000 in my ATM account and i am a retiree. But perhaps it is because I have had an account with them for over 30 years and have taken out housing loans and borrowed money in the past and paid it back and they trust me

There is always one consistency in Thailand, the inconsistency of their approach.

Does that mean you maintain a credit or have to ensure there is enough in the ATM account to cover any CC usage?

As I use the CC to buy flights on the internet, sometimes it is over 100k credit I am settling at the end of the month.

[phuketrichard]

I was asking for a credit card like VISA for instance but what do you mean with Charge Card ?

Is the American Express card a charge card and what would be then the difference with a credit card ?

In case I had like applying for an American Express card, where could I ask to get one ?

MIne is an Thai American express CREDIT card, not tied to any bank 150,000 limit

pay it off each month for the past 17 years

A charge card to me is same as a debit card, ie u hva emoney in the bank to back up any purchase

https://www.americanexpress.com/thailand/en/

[JimHuaHin]

Once again this is a case of TIT.

I went to my local KBank branch 2 weeks ago, where I have had an account for over 18 months, with all the required documentation, and was told all the documentation was in order, and I could apply, but, I had to wait 2 more weeks to satisfy the criteria of having Baht 1 million in a saving account for 6 months.

Went back on my local KBank branch on Monday, with all the documentation and passbook, and told that the documentation from my university pension fund in Australia had to be translated into English by a certified translator. And, no there were none in Hua Hin, I was advised, and I would have to go to Bangkok. Next customer please. Ummm.

Slightly frustrated, I sent off an email to the KBank Customer Centre - the reply back, within 24 hours was in part:

"According to your enquiry regarding about applying K-Credit Card, we would like to inform you that the required documents for applying qualification for K-Credit Card with us as follow;
- Minimum monthly income of THB 50,000
- Copies of valid passport and visa
- Copy of valid work permit
- Income evidence

However, the income evidence must be issued by the bank located in Thailand since we are unable to trace transaction occurred in overseas banks. In case you have income transfer to your KBank account, we do recommended you to submit KBank account statement as your income evidence instead."

Good luck.

[Felt 35]

I have always thought that a Credit Card is a Card issued by a financial institution and giving the holder the option to borrow funds, usually at point of sale and the holder has been evaluated with a credit score system that historically take into consideration ability and willingness to service debt, tax income and tax assessment, assets and any possible payment notes.

[raybarrell]

The answer is Yes you can get a credit card from bangkok bank but deposit 20,000THB into account 1st then a wait of 3 weeks to get the card. Also you can obtain an ATM card so no charges are made on cash withdraws but must have funds in this account to use it . What I do is transfer pension fund income every month into Thai ATM acoount then use those funds . It is easy. Hope this helps you?

[Stupi]

Yes a Credit Card is possible I have one, no problem, just leave a deposit of TB 100 000 then your limit will be TB 100 000.

Simple.

I have no work permit an no pension, just on retirement visa.

I also have Thia bank DEBIT CARD simple and just as useful as a credit card, this I use on a daily basis and no charges at STM's.

[hansgruber]

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.

The thread was over at post 2.

How it got to 55 replies I don't know.