Only millionaires can have a credit card in Thailand?

[chilli42]

Sadly you now have a black mark on your credit record. From experience these remain on your record for a very long time. Your wife should be able to get a card (if her record is clean) and she can add you to her card. The B200k a month seems excessive. Shop around with some other banks. Also, you might look whether your home country bank has a local branch that you can open an account with and link both accounts.

[Tywais]

Inflammatory posts and replies to them removed.

This is from the Bangkok Bank requirements for a CC. The higher end cards do require a more substantial income.

You must be at least 20 years of age and have an average monthly income of at least 15,000 Bt. You can combine your salary with other regular earnings such as bonus, commission and overtime pay. You may qualify for Bangkok Bank Platinum Leader Card or Bangkok Bank Platinum Bumrungrad Hospital Credit Card if you have an average monthly income of 100,000Bt. We also evaluate criteria such as your credit history when considering credit card applications.

[taiping]

I just paid 10k bond to bangkok bank for 10k limit credit card. Anyone can do this. Im not a millionaire...

That's not a proper 'credit' card. It sounds more like a pre paid card that they issue to children in the western countries. Like a gift card.

No, this is a "proper credit card" (VISA), which can be used for online purchases. I elected to pay off the entire amount due every month, the same as any other credit card I've used, to avoid paying interest charges. Payments are debited from my BB savings account, not the fixed deposit account, which is only for a bank guarantee. The fixed deposit is the amount of the credit limit (in my case 100,000 baht).

[JAS21]

Seems off yoy can get a bangkok bank platinum card with 20.000 baht income. I have platinum leader but for that you need 100.000 or more per month

My pension is almost twice that but I wanted a low limit incase I dropped my card ... drop your card and money is gone. I have never seen any cashier even turn the card over, never mind checking the signature. One day I passed the card to my wife to give to the cashier while I looked at something away from the till ... the cashier handed the slip to her to sign!!

Same reason that I have limited my Be 1st card for use only at ATM machines. I wouldn't have a credit card here in Thailand except for the problems of booking Hotel Rooms/Flights etc if you don't have one. My wife doesn't have a credit card for my reasons stated. Thailand is so lax in this area Cashier doesn't care so long as the card goes through.

[Soutpeel]

Credit cards are not common in Thailand as most of them are charge cards. However, American Express has credit cards and one of the types is linked to Thai Airways as a credit platinim cards.

I also have a charge card from Bangkok Banks and my Thai wife has two.

Change bank!

You obviously don't live in Thailand making statements like that, or your clueless, if one has a job with a WP and even a relatively low monthly salary a credit card is easily had

[crazykopite]

About 8 years ago I asked the SCB how I could get a credit card they asked me how much I wanted on the card and I blurted out 200,000 baht they told me I would have to deposit 300,000 to cover the 200,000 I thanked them for there help in providing the information and left no wonder they advertise the phrase " Amazing Thailand " !

[watcharacters]

Different banks, different branches, different mood. Got it?

And smile?

[connda]

Credit cards are good for a couple of things. If they are protected as US issued CC are by the FBCA, then they are ok to use for reserving things: cars, hotels, etc.

Now, to actually use these for credit? You're out of your mind. Especially a CC issued by a Thai bank or other entity that does not offer fraud insurances.

So, why would anyone want one?

[MZurf]

Credit cards are not common in Thailand as most of them are charge cards. However, American Express has credit cards and one of the types is linked to Thai Airways as a credit platinim cards.

I also have a charge card from Bangkok Banks and my Thai wife has two.

Change bank!

Every year I get an invitation in the mail to apply for the Thai Airways linked AMEX Platinum card (I have a TG gold card) and every year they tell me that I cannot get it because I don't have a WP.

[Hua Hin Barry]

We just use a prepaid credit card for booking flights, car hire etc. http://r.viabuy.com?cid=b91ffbf1e3bbdee5fe64a3f32d48e8b5d9b4c2bb

[catman20]

I got a credit card but its only a credit card cos I lodge 200,000 baht with the bank which allows me credit, im funding my own credit card

[JAS21]

I got a credit card but its only a credit card cos I lodge 200,000 baht with the bank which allows me credit, im funding my own credit card

An interesting slant ... If you have had the card for a while you should be getting at least 2% on your 200,000 which will be locked as a guarantee. Provided you pay the full amount off every month .... stupid if you don't ... to me that's a credit card. Spend in one month and pay off in the next month basically.

If your spending is taken off that 200,000 then I don't know what sort of card it is ... certainly not a credit card ... more like debit card.

[thonglorjimmy]

Credit cards are not common in Thailand as most of them are charge cards. However, American Express has credit cards and one of the types is linked to Thai Airways as a credit platinim cards.

I also have a charge card from Bangkok Banks and my Thai wife has two.

Change bank!

Every year I get an invitation in the mail to apply for the Thai Airways linked AMEX Platinum card (I have a TG gold card) and every year they tell me that I cannot get it because I don't have a WP.

It's crazy isn't it, the complete lack of continuity?

A year or so back I received a similar offer as I then had a Gold TG Card, I knew I wouldn't get one as I'm retired, so no work permit, and my only income is a UK pension.

I applied for fun and a card with a healthy limit was couriered a week or so later.

Have to admit it's handy when booking flights, hotels and cars, though I do pay it off every month as their interest rate of 20% is too high.

The TG points are also handy.

I month or so back they gave me the hard sell for their regular Platinum Charge Card, and by hard sell I mean two letters, three emails and half a dozen phone calls, that came with numerous goodies but a hefty fee.

I can understand that card issuers need to be cautious, but I'm at a loss to understand why main stream banks will issue an unsecured card to a foreigner earning 20,000 Baht as a teacher, who can up sticks and leave Thailand, but not a pensioner earning receiving 150,000 Baht and might have been here for years.

[theoldgit]

Likewise I'm a retiree and was offered an Amex CC, no daft security deposit, I accepted and have used it successfully for a while.

It was particularly useful when I was hospitalised in Singapore and they upped the limit instantly so I could settle the bill whilst my bank were making me jump through hoops to allow me to access funds I had in my account using my debit card as the bill was over the spending cap.

[mike324]

Its really up to the bank like others have said. My kid got a credit card from SCB with his 30,000 baht salary, credit limit was 50,000 baht, after two years they automatically raised it to 70,000. We try to get him more credit by showing his 1+ million saving in his account but they wouldn't take it. They say he needs more income or show he owns a business what not. Too bad for them he hardly uses his card because he can't even book a ticket and hotel for oversea travel without needing to clear each payment online to have enough credit.

[Benmart]

I don't have a work permit, am retired and have a CC with Bangkok Bank. I've just locked up 100,000Baht in a savings account and have that credit limit. Maybe try them. You might have to try several different branches.

Different banks and different branches....best go for the bigger branches, downtown, etc.

Over the years I got things from banks that are unbelievable:

It is impossible to transfer money out of Thailand

bank account only with work permit

for book bank need to go to the original branch

etc etc blabla

Go into the next bank an non of these problems exist.

Best experience for me was in Pattaya...they are used to foreigner....and they know how drunk idiot farangs look like and how low risk normal farangs look like.

"....and they know how drunk idiot farangs look like and how low risk normal farangs look like.".

Some of the worst characters I met here in Pattaya were those that appeared to be "low risk normal farangs". The last sentence speaks volumes about stereotypes, prejudice and beliefs that appear to be supported only by opinion.

[Soutpeel]

Credit cards are not common in Thailand as most of them are charge cards. However, American Express has credit cards and one of the types is linked to Thai Airways as a credit platinim cards.

I also have a charge card from Bangkok Banks and my Thai wife has two.

Change bank!

Every year I get an invitation in the mail to apply for the Thai Airways linked AMEX Platinum card (I have a TG gold card) and every year they tell me that I cannot get it because I don't have a WP.

It's crazy isn't it, the complete lack of continuity?

A year or so back I received a similar offer as I then had a Gold TG Card, I knew I wouldn't get one as I'm retired, so no work permit, and my only income is a UK pension.

I applied for fun and a card with a healthy limit was couriered a week or so later.

Have to admit it's handy when booking flights, hotels and cars, though I do pay it off every month as their interest rate of 20% is too high.

The TG points are also handy.

I month or so back they gave me the hard sell for their regular Platinum Charge Card, and by hard sell I mean two letters, three emails and half a dozen phone calls, that came with numerous goodies but a hefty fee.

I can understand that card issuers need to be cautious, but I'm at a loss to understand why main stream banks will issue an unsecured card to a foreigner earning 20,000 Baht as a teacher, who can up sticks and leave Thailand, but not a pensioner earning receiving 150,000 Baht and might have been here for years.

Per your last paragraph, easy to understand its all to do with legimised residency and I will explain why using the following example which shows this is not only banking policy in Thailand which applies these sorts of rules

I hold quite a large chunk of change with one of the majors in Singapore, I applied for a credit card, and had to secure an amount with them equal to the credit limit on the card,

the reason I am not a Singapore resident or work pass holder, if I was a work pass holder in Singapore the card would have been unsecured, no different from what some Thai banks do,

it doesn't matter how much money you hold with them its to do with legimate residency in Thailand, and a Work permit in Thailand is considered legitimised residency while a retirement visa/extension is not in terms of the banks rules

And of course the other bit about AMEX cards would be correct simply because AMEX is not a bank so their policies would be somewhat different

Edited May 26, 2015 by Soutpeel

[gk10002000]

I don't think it is a matter of Thailand playing catch up. The bank and finance community understands credit cards. They just don't like them for the average Thai person that has little work history that can be documented, nothing like the organized (too organized) FICO credit score system the USA uses, many many Thais below what I would call blue collar wages compared to the rest of the world, etc. Thai financiers/bankers don't want to give out loans, which are what credit cards are. So, in Thailand it may take a little more effort to get a credit card which is a revolving charge loan instrument

[SantiSuk]

I remember an American reprobate sitting on a barstool in Pattaya crowing about how he had left a $20,000 credit card bill behind in Japan and had no intention of returning/paying. Most of us gravitated away from the idiot pretty quickly. He was probably exaggerating, but it's hardly surprising that foreigners are sometimes (often?) treated as higher-risk by banks.

[sandyf]

You could've called them yourself, called them with a translator on the line, engaged a law firm in Thailand to act as agents on your behalf, wired them the money, etc.

People managed to pay their bills, including credit card bills, before there was an Internet.

You were just lazy, and they're paying you back by refusing to give you another credit card.

I don't blame them.

I think you are not very far off the mark, head in the sand and hope nothing happens.

It was about April last year that TMB sent out the emails, I had one. It said that my visa status was inconsistent with the new banking regulations and that I must visit a branch and update my details before the 1st July 2014 or I would lose access to online banking. In order to maintain access to the online banking facility I would need to show a work permit or long term visa. I was on a multi Non O and that was ok. There was a fair amount of warning on this issue.

I made a post on this forum at the time but of course everyone said there was no new regulations and TMB had made a mistake.

[balo]

No, you don't have to be a millionaire. I know teachers in Bangkok with a salary of 30k or less managed to get CC in Kasikorn, showing them a work contract with the school. I can understand why banks will refuse a foreigner without a work permit. It doesnt matter how rich you say you are. If you work here you'll probably stay for a while and the banks will have more trust in you.

[theoldgit]

I can understand why banks will refuse a foreigner without a work permit. It doesnt matter how rich you say you are. If you work here you'll probably stay for a while and the banks will have more trust in you.

Yes, I can fully understand why Thai banks would regard a teacher on a salary of less than 30,000 Baht an acceptable risk, but a pensioner who might have a pension of multiples of that, may have lived here for a number of years and may own a freehold condominium worth many millions of Baht, wouldn't be regarded a good risk, unless they leave a security deposit.

[Soutpeel]

I can understand why banks will refuse a foreigner without a work permit. It doesnt matter how rich you say you are. If you work here you'll probably stay for a while and the banks will have more trust in you.

Yes, I can fully understand why Thai banks would regard a teacher on a salary of less than 30,000 Baht an acceptable risk, but a pensioner who might have a pension of multiples of that, may have lived here for a number of years and may own a freehold condominium worth many millions of Baht, wouldn't be regarded a good risk, unless they leave a security deposit.

Please refer to post #47 and the rational of some banks not just Thailand, it has nothing to do with how much money you got in a bank or own a condo, its to do with legitimised residency in a country,

WP = legitimised residency,

retirement = not legitimised residency

Not a difficult concept to understand

If the pensioners you refer to are so well to do, stumping up a few thousand dollars in a security deposit should hardly be an issue should it ?, the bank is not taking the money off you, its just locked away, and after said well to do pensioners lose all their cash and condo to their Isaan teerak, they can close their cc account and get the cash unblocked, so in some respects the bank is doing them a favour

Further very few pensioners even have a credit history in Thailand so you can kinda see the banks point of view

[theoldgit]

Yes Soutpeel, I do understand what you say regarding the concept of residency, and I take on board your comparison with Singapore.

But putting the residency to one side if I may, I always thought banks risk assessed credit applications based on the actual risk of default and the ability to repay, and as I say, I would have thought that a person who has been living in a mortgage free condo for a number of years with a predictable pension would be a better risk than the teacher on 30,000 Baht, who even after years of employment could be let go, or even up sticks, at a moments notice.

I actually mentioned a condo because a foreigner can own in their own name, so would be unlikely lose their property to their Isaan teerak as you have suggested.

I do realise that some people use their cash as security for a cc, but that's not the point I'm making, as I think you realise.

I for one get a print out every year from the credit bureau.

I also take on board the comment about the guy who boasted about defaulting on his Japanese cc, I suspect that's a world wide problem and no doubt the banks cost that into their interest rates

[maidee]

thai logic

no need to even try to understand

logic that the economy is tanking

[Soutpeel]

thai logic

no need to even try to understand

logic that the economy is tanking

Really ? Thai's must be running the banking system in Singapore as their polices regarding unsecured CC are the same, and from an economic point of view Singapore appears to be rather well

So nice try at the bash, but if your going to do it, at least make it attempt to base it on factual content, not stuff your pulling from your bottom

[Gulfsailor]

Yes Soutpeel, I do understand what you say regarding the concept of residency, and I take on board your comparison with Singapore.

But putting the residency to one side if I may, I always thought banks risk assessed credit applications based on the actual risk of default and the ability to repay, and as I say, I would have thought that a person who has been living in a mortgage free condo for a number of years with a predictable pension would be a better risk than the teacher on 30,000 Baht, who even after years of employment could be let go, or even up sticks, at a moments notice.

I actually mentioned a condo because a foreigner can own in their own name, so would be unlikely lose their property to their Isaan teerak as you have suggested.

I do realise that some people use their cash as security for a cc, but that's not the point I'm making, as I think you realise.

I for one get a print out every year from the credit bureau.

I also take on board the comment about the guy who boasted about defaulting on his Japanese cc, I suspect that's a world wide problem and no doubt the banks cost that into their interest rates

Although it is hard for a bank or cc company to collect from a runaway foreigner, it is even harder to get it from a dead foreigner with no legal status in the country. Retirees are more at risk of dying soon than someone on a workpermit.

[i claudius]

By yhe

Different banks, different branches, different mood. Got it?

Yesterday here in Pattaya went into my Ayudda bank in central ,no problem deposite 40k in bank,I have far more and you can have a card no need to always have 40k in there no problem if you go under that amount,Tesco branch ,must keep a balance of 40 k or over at all times,so tried Thanachatt ,have quite a lot on deposite there,how old are you,if you are over 60 cannot have credit card in Thailand ,no matter how much in bank , this place can be a real joke can't it?

The only reason I want a credit card in the first place is to pay for airline tickets etc online,as this is the only place I know that will not accept a debit card

Edited May 29, 2015 by i claudius

[theoldgit]

Flame removed.

[mmh8]

its not true , you don't necessarily need to be a millionaire, however since this the baht we are discussing then the million is not so tough to obtain