Bangkok Bank Secured Credit Card Waiting Time

[RT85]

hey guys!

so anyway i was told by bangkok bank i can apply for a secured credit card... so i parked some money in an FD...

They told me 1 month processing... i know it's been only 2 weeks so far.. but wondering who else has done this recently and if you could share how long you waited for?

I have read all related threads but none discussed waiting time... I read up online on their website.. they said 2 weeks.. but when i asked the staff at the branch.. she said 1 month...

comments or experience appreciated guys!

[ukrules]

Why bother with a 'secured' credit card ? What's the point ? If you have to pay money in to secure it then there is not credit, it's debit isn't it ?

I have a debit card which works when I have the money in my savings account, isn't this pretty much the same thing as a secured credit card ?

[NE1]

I had a debit card only for a while , with this card I could buy items online .

It was not accepted for payment of goods / services over the counter , here or when I was abroad.

So I had to get the credit card , I asked the bank to attach it to my main account , then goods would be paid for at the end of the month.

2 weeks after I had signed all documents I visited the bank again on an unrelated matter and they told me that I had to open a fixed savings account and that would act as a guarantee.

I then had to wait another 3 weeks for it to arrive.

The credit card is not used because I needed credit , I needed an alternative way to pay when required.

[ukrules]

With my entry level savings account at Kasikorn I was issued an ATM card on the spot when I opened it. I asked them to turn on the 'internet payment' option and since then I've ordered goods from various companies in both the UK and the USA.

This is with the ATM card, it has a visa logo on it and can be used online.

I've never used it to pay for goods in Thailand in a store but I've used it online with Lazada and others, it does have a signature strip on the back so maybe it works for that as well.

Edited September 6, 2014 by ukrules

[NE1]

With my entry level savings account at Kasikorn I was issued an ATM card on the spot when I opened it. I asked them to turn on the 'internet payment' option and since then I've ordered goods from various companies in both the UK and the USA.

This is with the ATM card, it has a visa logo on it and can be used online.

I've never used it to pay for goods in Thailand in a store but I've used it online with Lazada and others, it does have a signature strip on the back so maybe it works for that as well.

My debit card is the same , paid for lots of things online but no good in the real world.

[mrtoad]

I have used my Bangkok Bank BFirst card online and also all around the world. Never had a problem

[RT85]

hey guys thanks for your replies..

couple of reasons i want the credit card.

my company has given me the option to buy my own flight tickets for all work trips... and reimburse me.

i read about buying airline tickets with some local credit cards, they will include automatic travel insurance.. lost baggage claim, flightdelays etc..

also the additional convenience when overseas or as a back up to draw funds from my thai bank accounts.

so i did some research and turns out there is a promotion with bangkok bank now.. if i spend 100k before end of September, i will get bonus miles and also 2 return domestic flights anywhere in thailand by bangkok air...

so ... why not right?

Reason i'm asking about waiting time is because i need to book tickets for a flight 1st week of October... so i am hoping the card does not arrive too late..

appreciate all your replies

[gamini]

I went to Bangkok Bank in Chiangmai a few months ago and got a proper visa card in less than 24 hours. I have no fixed depposit and I keep very little money in the account. I put money in the account just before the CC payment is due.But this is probably because I have had an account with the Bank for a long time. On the bottom of my credit card is says B1 1st valued member.

[personchester]

Why bother with a 'secured' credit card ? What's the point ? If you have to pay money in to secure it then there is not credit, it's debit isn't it ?

I have a debit card which works when I have the money in my savings account, isn't this pretty much the same thing as a secured credit card

That is not a bank problem in my case, I have three credit cards, two for myself, and one for my wife, the purchase value of my two cards is 250,000 each (total 500,000) and 100,000 of my wife's card thus the entire monthly purchase facility is 600,000 -

When applying for the credit cards I was asked to provide a fixed deposit account of 200,000 for the credit cards security, this fixed deposit account has been at the bank over 12 years and the interests has reached 44,000 -

The 44,000 interest can be taken out, (I kept it in) but the total sum 200,000 must remain in the account as bank security for my credit cards.

[RT85]

thanks for all the replies guys,

tomorrow will mark the 3rd week (15 business days) of waiting..

hopefully i get it tomorrow!!!!!!!!!!!

[RT85]

UPDATE 13TH SEPT 2014

hey guys, so just a little update to any of you who may be waiting for secure credit cards too..

yesterday i called bangkok bank for the 2nd time and i found this out.

1. i submitted the credit card application on the 22nd of August / including opening a small FD as security. (1baht FD for 1 baht credit)

2. i called to follow up on the 12th of September and found out the main office only got the application on the 26th (that is a 4 day delay)

3. it usually takes about 3 weeks from the date the main office recieves the application to ''process''

this should mean i receive my card on the 16th of this month. will update further...

Also those of you with new bangkok bank cards.. don't forget to spend 100,000baht by end of september and u get bonus points and a pair of return tickets for domestic flights on bangkok airways.

cheers

Edited September 13, 2014 by RT85

[Mayur Pande]

Hey So Have you received your secured credit card ??

 

[HashBrownHarry]

On 9/6/2014 at 9:39 PM, gamini said:

I went to Bangkok Bank in Chiangmai a few months ago and got a proper visa card in less than 24 hours. I have no fixed depposit and I keep very little money in the account. I put money in the account just before the CC payment is due.But this is probably because I have had an account with the Bank for a long time. On the bottom of my credit card is says B1 1st valued member.

Debit card.,

[Yellowtail]

Do you get paid in Baht, US$ or some other currency?

 

If you get paid in US$ get a US credit card that does not charge foreign exchange fees.

 

What airline and hotel chain do you typically book? You can likely get a big bonus points for getting their credit card.

 

If you get paid in Baht, you might shop some of the other banks. If you have a work permit, reasonable salary and some work history, no reason you should not be able to get an actual credit card.