Credit card with a deposit account instead of proving credibility?

[blueskyguy]

Hi everyone,

Do you know where to open a creditcard with a deposit money account instead of submiting all paperwork ?

For example: I have a deposit account with 100k bath and thefore I can open a creditcard with the limit of spending <100k/month.

As I need to do some online payments and debit card can't support for these payment.

Some countries' banks supported this way and the procedure is very fast. But not sure about Thailand.

Thank you,

M

[allane]

I think that you mean a debit card ? For example, you would deposit B 20,000, and then you could spend up to that amount on the card. If you then wanted to spend more, you would have to deposit more first.

I think it is possible, if you have any kind of visa other than a tourist visa. Go to a nearby bank and ask them.

[theoldgit]

I think that you mean a debit card ? For example, you would deposit B 20,000, and then you could spend up to that amount on the card. If you then wanted to spend more, you would have to deposit more first.

I think it is possible, if you have any kind of visa other than a tourist visa. Go to a nearby bank and ask them.

No, he's asking about a credit card, he's already said a debit card doesn't support his particular needs.

@blueskyguy, that said, are you sure a debit card wont work, some banks have a facility to use a debit card online, or offer a virtual credit card which you can use online with the payment immediately being taken from your account.

If neither of these work, and they should, then yes you will need to go into your bank and ask.

I'll move this to the general banking section.

[blueskyguy]

Thank you theoldgit,

Even a virtual shopping card from Kasikorn bank doesnt work for some online payments, for ex: FB Ads.

I'm asking from other banks.

[pieeyed]

I got a wisdom visa credit card from Kasikorn Bank by putting up 200,000 baht. You can deposit any amount of money against the credit card. No problems.

[CarolinaJames]

Thank you theoldgit,

Even a virtual shopping card from Kasikorn bank doesnt work for some online payments, for ex: FB Ads.

I'm asking from other banks.

Strange. My Kasikorn works for my Facebook Ads without any issues.

[jacko45k]

Bangkok Bank have issued me Credit Cards guaranteed by a 3 month fixed deposit account which I cannot reduce below the cards limit.

The usage is actually directly paid from my savings account when due. Obviously this is not a real 'credit' situation other than between usage and payment but the arrangement suits me and the cards are useful.

Edited August 19, 2015 by jacko45k

[tomdfc]

SCB gave us a credit card on the back of us opening a deposit account with them. The credit card limit was and is 50% of the deposit amount. This deposit was made 8 years ago even although we had substantial funds banked and invested with them. We assumed that that was simply the way business was done here and when you hear stories about spiralling credit card debt back home, they have a point. What irks me is that they (SCB) actually hold the deposit account passbook and it takes a visit to the office to even be advised of any interest earned, which is (insultingly) shared with you on a scrap of paper.

We have an impeccable record with them and this thread prompts me to pay them a visit, not just to ask for a bi-annual interest update.

[notbkk]

I have been shopping all over the place with my Kasikorn debit card, including linking it to my PayPal, Facebook, Amazon, just about everywhere...no problem. It's a credit card without the credit. Maybe he's got an ATM card and not the debit card? Must have the three-number VISA security code at the back.

[leytonorient]

SCB gave us a credit card on the back of us opening a deposit account with them. The credit card limit was and is 50% of the deposit amount. This deposit was made 8 years ago even although we had substantial funds banked and invested with them. We assumed that that was simply the way business was done here and when you hear stories about spiralling credit card debt back home, they have a point. What irks me is that they (SCB) actually hold the deposit account passbook and it takes a visit to the office to even be advised of any interest earned, which is (insultingly) shared with you on a scrap of paper.

We have an impeccable record with them and this thread prompts me to pay them a visit, not just to ask for a bi-annual interest update.

I asked SCB about the arrangement that you have and was not happy that they only give you a credit card limit of 50% of the amount that you keep in the fixed term deposit account.

I therefore chose Bangkok Bank who issued me a credit card with a credit limit of 100% of the amount in my fixed term deposit account. I have 2 million baht in 6 month fixed terms and the credit card has a 2 million baht credit limit. I also retain possession of the fixed term deposit passbook.

I recommend you switch from SCB to Bangkok Bank. SCB's policy of only giving you a 50% credit limit against your fixed term deposit is unfair. Go to Bangkok Bank they will confirm what I have told you.

[NoBrainer]

I just picked up an M-Pass (for Motorway Toll payment) and it came with an M-Pass shopping card (KTB E Money Card) it has a Visa symbol on the front & has the 3 digit security code on the back & a Visa Card type number (4 sets of 4 digits) but does not have your name embossed on it.

Not sure what it can be used for.

Anybody familiar with these cards & what you can do with them?

[Froggybanrai]

I've been shopping around for 8 years including online with an ordinary BANGKOK BANK VISA card, each transaction being debited on the spot from my savings account. Never encountered any problem.

[shadowmaster1971]

I recently applied for a card at Krungsri. Krungsri has 11 credit card products. 2 of those products are ear marked for foreigners, either by by placing down a deposit or showing income from a job here in Thailand.

The credit limit on those cards is 90% the value of the deposit. The 2 cards products are the Platinum card requiring a min deposit of 40,000B and the other the Signature card required min 70,000B. When I went to my local Krungsri branch in Pattaya, to enquire about these cards, they have applications forms developed now specifically for foreign applicants. (I think Krungsri game has lifted since their Japanese parent fully controls them). Their application form are clear and concise. The requirements for these card, is a passport, something to confirm your residential address and obviously locking in a deposit in Krungsri passbook account. The application form indicates they want copies of work visa, but obviously that is if you are applying on the basis of supporting salary income. It takes about 2-3 weeks to process the application.

When looking at the benefits of the above cards, there seems to be a lot (besides the usually protections you get with credit cards). From instant travel insurance if your booked your flight using the card, to transferring points to Thai Air or Cathay pacific. Discounted hotel rates at major hotel chains. If you are a golfer discounted/reduce rates at about 30/40 courses around Thailand.

anyway here is a link www.krungsricard.com for anyone interested.

[al007]

SCB gave us a credit card on the back of us opening a deposit account with them. The credit card limit was and is 50% of the deposit amount. This deposit was made 8 years ago even although we had substantial funds banked and invested with them. We assumed that that was simply the way business was done here and when you hear stories about spiralling credit card debt back home, they have a point. What irks me is that they (SCB) actually hold the deposit account passbook and it takes a visit to the office to even be advised of any interest earned, which is (insultingly) shared with you on a scrap of paper.

We have an impeccable record with them and this thread prompts me to pay them a visit, not just to ask for a bi-annual interest update.

Its awful, Banks are not very customer friendly in Thailand

I have an account with Bangkok Bank in KhonKaen, prior to that i had SCB then Krungsi, I have been with Bangkok bank 5 plus years

I believe they will give credit card with 100% of deposit amount

I have very nice lady in Bangkok Bank in Bangkok who is also very helpful

I suggest you need to explore other banks then go and fire SCB and withdraw THEIR overdraft from you

Good Luck

[baggies666]

+1 for krungsri credit card, forms in english as shadowmaster1971 says

[billd766]

I have been shopping all over the place with my Kasikorn debit card, including linking it to my PayPal, Facebook, Amazon, just about everywhere...no problem. It's a credit card without the credit. Maybe he's got an ATM card and not the debit card? Must have the three-number VISA security code at the back.

The Kbank debit card didn't work when I had to renew my UK passport last year.

I had to use a UK friends credit card which went through instantly though transferring the money back to her was a lot more difficult. At my rural KBankg they get many incoming transfers but they had never done an outgoing one.

I was on the phone with KBanking in BKK as was the lady doing the work at the branch (who was shadowed by a colleague writing it all down) and it took about 30 minutes. The odd thing was when it came the time for me to physically pay the bank they wouldn't take it from my account so I drew it from the ATM and all was well.

[RT85]

just go to bangkok bank and say you want to have secured credit card of 100k..

they will fix the 100k in an FD account and u will get some interest.. about 1.275% i think...

not bad if you ask me

good luck.

[gchurch259]

For me very simple, walk into Bangkok Bank with Passport showing Visa for Thailand, lay down $5,000.00 US and get a 150,000 limit Visa Credit Card, at that time THB was at 30. They charge interest if not paid off each month, but squeeze out a little interest to you for the money on deposit. You can go up to 500,000 if you deposit enough.

[gchurch259]

I forget to mention, With the Bangkok Bank Credit card you get points which may be used to exchange for items or other various uses.

[RT85]

I forget to mention, With the Bangkok Bank Credit card you get points which may be used to exchange for items or other various uses.

yup that's right.. however i want to add.. the points can hardly get any real value back..

although there are occasional good offers u can get with bangkok bank credit cards..

i got 2 free return domestic flights with bangkok air.. as well as some decent merchant discounts...

one thing to add for my particular case they took almost 1 month to process my credit card even though i put money in the FD from day one.

[mango66]

SCB gave us a credit card on the back of us opening a deposit account with them. The credit card limit was and is 50% of the deposit amount. This deposit was made 8 years ago even although we had substantial funds banked and invested with them. We assumed that that was simply the way business was done here and when you hear stories about spiralling credit card debt back home, they have a point. What irks me is that they (SCB) actually hold the deposit account passbook and it takes a visit to the office to even be advised of any interest earned, which is (insultingly) shared with you on a scrap of paper.

We have an impeccable record with them and this thread prompts me to pay them a visit, not just to ask for a bi-annual interest update.

I asked SCB about the arrangement that you have and was not happy that they only give you a credit card limit of 50% of the amount that you keep in the fixed term deposit account.

I therefore chose Bangkok Bank who issued me a credit card with a credit limit of 100% of the amount in my fixed term deposit account. I have 2 million baht in 6 month fixed terms and the credit card has a 2 million baht credit limit. I also retain possession of the fixed term deposit passbook.

I recommend you switch from SCB to Bangkok Bank. SCB's policy of only giving you a 50% credit limit against your fixed term deposit is unfair. Go to Bangkok Bank they will confirm what I have told you.

it is not advisable at all ( not to say stup... )

to keep a credit card with 2 mill thb limit -

they crack - stolen your card and 2 mill gone !!

you crazy !!

100.000 - 200.000,- ok,

if i need more for a single case,

I call the bank to open for 1 time transfer an higher amount !!

[Jonmarleesco]

Yes, it's possible to do it, but you would be best checking with the bank(s) as to their requirements. That said, a debit card should, these days, work online; certainly both BBL's and KKB's do.

[leytonorient]

SCB gave us a credit card on the back of us opening a deposit account with them. The credit card limit was and is 50% of the deposit amount. This deposit was made 8 years ago even although we had substantial funds banked and invested with them. We assumed that that was simply the way business was done here and when you hear stories about spiralling credit card debt back home, they have a point. What irks me is that they (SCB) actually hold the deposit account passbook and it takes a visit to the office to even be advised of any interest earned, which is (insultingly) shared with you on a scrap of paper.

We have an impeccable record with them and this thread prompts me to pay them a visit, not just to ask for a bi-annual interest update.

I asked SCB about the arrangement that you have and was not happy that they only give you a credit card limit of 50% of the amount that you keep in the fixed term deposit account.

I therefore chose Bangkok Bank who issued me a credit card with a credit limit of 100% of the amount in my fixed term deposit account. I have 2 million baht in 6 month fixed terms and the credit card has a 2 million baht credit limit. I also retain possession of the fixed term deposit passbook.

I recommend you switch from SCB to Bangkok Bank. SCB's policy of only giving you a 50% credit limit against your fixed term deposit is unfair. Go to Bangkok Bank they will confirm what I have told you.

it is not advisable at all ( not to say stup... )

to keep a credit card with 2 mill thb limit -

they crack - stolen your card and 2 mill gone !!

you crazy !!

100.000 - 200.000,- ok,

if i need more for a single case,

I call the bank to open for 1 time transfer an higher amount !!

Who the f.... are you to call me crazy. I travel constantly and use the credit card daily. Besides maybe 2 million isn't too much to me.

You are the crazy one for judging someone you don't know.

[Shiver]

I have a Kasikorn virtual debit (Visa) card which I use online. I also have an online business that takes credit and debit transactions, and can say with some surety that it doesn't matter which you use in terms of being able to make transactions. The difference is between you and the bank, not the vendor.

Edited August 19, 2015 by Shiver

[shadowmaster1971]

Yes, it's possible to do it, but you would be best checking with the bank(s) as to their requirements. That said, a debit card should, these days, work online; certainly both BBL's and KKB's do.

Krungsri visa debits don't work online. But they do have some virtual debit cards system, but i think they have to be attached to credit card, go figure that one!

Problems with most visa debit cards in thailand is that they have no name on them, so book a flight with debit card, produce the card at checkin can raise some questions. life would be easier if it was easier to get visa debit cards with your name on it and worked fully for online. Karsikorn I believe have this?

[Firefan]

Shadowmaster; I have used my no name BKK Bank many times for flight tickets - and never had a problem with verification at the counter as they check the number rather than the name. Cheers!

[catman20]

Bangkok bank

[Shiver]

When I set up the virtual card, it took a couple of hours to explain what I wanted, as the no name card wasn't what I had in mind. They said "no problem, can use at tesco lotut, big cee" etc. I was trying to be polite and take deep breaths, but what I really wanted to say would include some impolite language to explain that there is more than one country in the world and this card is not going to hack it. Eventually I got to speak to someone else from a back office that knew what I was aiming for, and the virtual card was immediately proposed. It works in most situations, though there are lots of restrictions with Visa/Mastercard etc (that is to say, not the banks fault) for inter country transactions depending where you are and where the company you want to deal with is. I have Thai/HK/Euro Paypal accounts to get around most of that, and even then sometimes still have to ship to a different address before forwarding here. Other times it's as straight forward as you would expect it to be. There is no Rhyme or Reason to their behaviour that they have published.

...and people are confused when I wax on about the benefits of Bitcoin and to leave the financial system to twiddle its own thumbs...

[blueskyguy]

Thank you all for your helpful information.

I will try to get a new creditcard then.

Have a great weekend!