Citibank Credit Card - Denied

[CiaranO]

I recently applied for a credit card from Citibank and was denied based on their internal criteria only - not on credit rating.

So a little about me - have lived and worked in Thailand for more than 3 years at the same company. Salary in excess of the minimum required of 80,000 THB. Valid work permit renewed each year. Married to a Thai National.

When i called to find out the reason i was told i did not qualify for the Credit Card as i was a contract worker. I asked what do you mean? The guy on the phone said because i had to renew my work permit each year i did not qualify for the Credit Card and this showed i was a contract worker. I said this sounds very odd as all foreigners must have a work permit to work here and even more so your own criteria states i must have a valid work permit to be even eligible. Pauses on the phone no answer. I asked him based on this criteria you dont give credit cards to foreigners then? No answer.

Told me he was going to refer it back - i told him dont bother.

Applied for American Express a few days later and accepted - no issues.

Has anyone else ever come across this very selective criteria they have? Id be interested to hear other peoples stories if you have any.

[Crossy]

I got approved by Citi, so it's not impossible, although they did need rather more paperwork than AmEx including a "statement of employment" from my employer and an actual face to face meeting.

To our OP do you actually get a new contract each year? Something like that would possibly sound the alarm bells.

I have been with my employer for 10+ years and have an open ended contract so there's no doubt that I am an employee rather than a contractor, but like our OP and most others my WP is renewed every year.

When finally approved Citi actually issued me both a Visa and MasterCard (attached to the same line of credit so there's an overall credit limit). The MasterCard is handy as it's the only non co-brand card accepted by Makro

It's too late now, but I would have let them do their internal review, any information to come out would be useful for future applications.

[CiaranO]

I got approved by Citi, so it's not impossible, although they did need rather more paperwork than AmEx including a "statement of employment" from my employer and an actual face to face meeting.

To our OP do you actually get a new contract each year? Something like that would possibly sound the alarm bells.

I have been with my employer for 10+ years and have an open ended contract so there's no doubt that I am an employee rather than a contractor, but like our OP and most others my WP is renewed every year.

When finally approved Citi actually issued me both a Visa and MasterCard (attached to the same line of credit so there's an overall credit limit). The MasterCard is handy as it's the only non co-brand card accepted by Makro

It's too late now, but I would have let them do their internal review, any information to come out would be useful for future applications.

I have an open ended contract - the same as yourself and my work permit is renewed each year which is standard for most foreign employees.

If they needed anything else there was no issue in supplying the documents.

Anyway it doesn't really matter right now - but i just thought it odd.

[sas_cars]

I got approved by Citi, so it's not impossible, although they did need rather more paperwork than AmEx including a "statement of employment" from my employer and an actual face to face meeting.

To our OP do you actually get a new contract each year? Something like that would possibly sound the alarm bells.

I have been with my employer for 10+ years and have an open ended contract so there's no doubt that I am an employee rather than a contractor, but like our OP and most others my WP is renewed every year.

When finally approved Citi actually issued me both a Visa and MasterCard (attached to the same line of credit so there's an overall credit limit). The MasterCard is handy as it's the only non co-brand card accepted by Makro

It's too late now, but I would have let them do their internal review, any information to come out would be useful for future applications.

I have an open ended contract - the same as yourself and my work permit is renewed each year which is standard for most foreign employees.

If they needed anything else there was no issue in supplying the documents.

Anyway it doesn't really matter right now - but i just thought it odd.

You already have an Amex card, so build some good credit history with Amex and apply back to citi in 1 year. I was in the same boat as you, got rejected with all thai banks including citi. At that time Amex was the only one which approved me, so I built good credit history with amex for a year or so, and applied other banks including citi, and got approved by most of the banks this time

Most banks, not only citi, will give all kind of vague denial reasons to you, but the reality is , most of the banks consider foreigners a high flight risk and don't really dare to approve them easily, unless the foreigner has good credit history, which brings us to the same age old question, Egg or Hen ? How will a foreigner will build a credit history if no bank is gonna approve him with a credit card/loan first?

[BudRight]

This is about Amex, but If you have had an American Express in your home country there is a program called "Global Transfer." Thailand is among the countries where Amex offers this.

https://www.americanexpress.com/global-card-transfers/other-countries.html

[junkofdavid2]

Bangkok Bank Siam Paragon branch, get credit card with limit equal to fixed deposit... was easy peasy (no proof of income docs were required).

Then build good credit rating and perhaps get another one from other bank in one year with no need for fixed deposit.

Btw, Bangkok Bank "Rabbit" Visa credit card is super ultra convenient if you go into Bangkok city a lot.

[micmichd]

My Visa sa card was invalidated by the issuing German bank when I complained that the new ATM card they sold me wouldn't work. When I complained about the Visa card they cancelled everything and even refused a current account for my permanent income, so I had to travel to Germany.

No problem with the Visa card from Bangkok Bank.

[richard_smith237]

Op: You mentioned you are married, another valid option if you really wanted a Citibank card is for your Wife to apply and once approved you can become the second card holder on your Wife's Credit card. Citibank usually offers plenty of promotions in Thailand, so its a fairly worthwhile card to have.

I am the second card holder on my Wife's CitiBank Credit Card and find this a very convenient alternative such that I have no need for my own card in Thailand.

[NoshowJones]

Banks are like immigration offices, they make their own rules.

[godden]

third world always will be.

[sead]

Kasikorn only asks for150k in account and you can get creditcard

[Estrada]

20 years ago I was working on a 1 year contract with work permit. I got a Citibank Visa and also a Citibank Master Card. 15 years ago I started working overseas and retired in 2011. At no time has Citibank made any sign of withdrawing my cards and my credit limit is B270,000. If I want an increased limit they say that I have to provide collateral. My own bank, Bangkok Bank, recently offered me a credit card no question asked, probably because they know I can be trusted, have a long track record of payment on time and I spend a lot of money on which they can earn commission. What the Banks are doing is to judge how good or bad a risk you are. If you are declined, it is because they believe you could be a bad risk.

You need to keep trying different banks and earn their trust so that you can get an increased credit limit.

Edited September 26, 2015 by Estrada

[louse1953]

Kasikorn only asks for150k in account and you can get creditcard

Up to 150k!

[ThailandLOS]

Sounds very odd OP, and might be due to the individual bank employee handling your application. In your situation I would try to talk to someone in charge of the process and ask them to reconsider.

Citi recently came to the office of my employer, a major one in Bangkok, and was virtually throwing cards after everyone, especially foreign employees since they know those have higher income. No issue what so ever for anyone that applied that I know of. Usual paperwork with WP, passport and payslip.

[peergin]

Years ago Citibank rejected me too. The reason? I was over 60. Never mind that I had held a platinum card from another bank for 35 years. However, that was a foreign card, in a foreign currency but from a major bank. Later on I learned that Citi is not exactly the safest bank in the world. So, why would you want a credit card from them?

Edited September 26, 2015 by peergin

[connda]

Correct me if I'm wrong, but I believe Thai Credit Cards do not offer fraud protection. Why would you want one?

I have a US credit card which has federally mandated fraud protection based on the Fair Billing Credit Act. About the only time I use a credit card in the LOS (Land of Scams) is to book hotel or flight reservations.

Edited September 27, 2015 by connda

[connda]

Years ago Citibank rejected me too. The reason? I was over 60. Never mind that I had held a platinum card from another bank for 35 years. However, that was a foreign card, in a foreign currency but from a major bank. Later on I learned that Citi is not exactly the safest bank in the world. So, why would you want a credit card from them?

Look at their derivatives exposure (and other TBTF banks) and then ask yourself why you'd bank with them at all. Plus as a depositor, your at the bottom of the list when it comes to a bankruptcy and probably at the top of the list when it come to "bail-in time". Lol

Edited September 27, 2015 by connda

[NoshowJones]

Kasikorn only asks for150k in account and you can get creditcard

Read my post #9. I had more than 150.000 baht in my Kasikorn account, and was told I needed a work permit before I could apply for a credit card.