Millions in the bank, not allowed a credit card...any chance?

[B1TcoinLife]

Have large amounts of money in Thai accounts but still seemingly not allowed a credit card because my new work permit is delayed

Has anyone managed to get one?

I'm prepared to move banks if necessary....

[Pib]

You can get a "secured" credit card from most any Thai bank...no work permit needed. A secured card is one that has a locked savings account as the card's collateral in case you skip country/don't pay the card balance.

Ex: get a secured credit card of say 100K baht line of credit with an associated locked savings account of 100K baht. You can not access the funds in the locked savings account until you pay in full the card balance and cancel the card.

Edited April 2, 2016 by Pib

[Don Mega]

been years since I got my credit cards but along with the work permit don't they also want 6 months worth of payslips as well ?

[B1TcoinLife]

You can get a "secured" credit card from most any Thai bank...no work permit needed. A secured card is one that has a locked savings account as the card's collateral in case you skip country/don't pay the card balance.

Ex: get a secured credit card of say 100K baht line of credit with an associated locked savings account of 100K baht. You can not access the funds in the locked savings account until you pay in full the card balance and cancel the card.

Which banks offer this? I am interested....

[Pib]

As stated...most any Thai bank...definitely Bangkok Bank.

[lostinisaan]

It seems that Bangkok Bank is the right address for your problem. I had a credit card before I even started to work.

[allane]

To the OP: Your best bet might be to apply at the very bank and branch where your employer banks. I can't remember which now, but in about 1998, I walked into my employer's bank branch to either open an account or apply for a credit card. Unbeknownst to me, as I walked in,one of my bosses was there, and about to stand up to leave. I sat down in his chair, and walked out with what I wanted.

Edited April 2, 2016 by allane

[baansgr]

With debit cards being issued by MasterCard and Visa which allows internet and other payment options, what is the benefit of having a credit card. Credit cards are just that, giving you credit but as you have Millions in the bank what is the advantage

[Bobotie]

With debit cards being issued by MasterCard and Visa which allows internet and other payment options, what is the benefit of having a credit card. Credit cards are just that, giving you credit but as you have Millions in the bank what is the advantage

not everywhere takes debit cards...

[Scouse Twoccer]

You just haven't got enough "millions in the bank". Apply again when you have a grown-up number of millions, don't waste your time with baby amounts.

[Scouse Twoccer]

With debit cards being issued by MasterCard and Visa which allows internet and other payment options, what is the benefit of having a credit card. Credit cards are just that, giving you credit but as you have Millions in the bank what is the advantage

not everywhere takes debit cards...

Not every business takes credit cards either.

[Bobotie]

With debit cards being issued by MasterCard and Visa which allows internet and other payment options, what is the benefit of having a credit card. Credit cards are just that, giving you credit but as you have Millions in the bank what is the advantage

not everywhere takes debit cards...

Not every business takes credit cards either.

But I will bet the places that take CC's out number the ones who take debit cards

[HampiK]

I never had a work permit... And i have a credit card from Kasikorn since a few years. There was no problem to become one. And it's not a debit card. I have monthly bills what i have to pay.. Even could pay only a part of the credit.. but would result in paying aditional interest....

So should be possible, especially if you have "millions". Maybe you should look for a permier or wisdom credit card at Kasikorn.. there are many additional benefits with them (free gym, free health check, priority pass, .......)

[kbelyeu]

If you have lots of money in the bank you would be better served getting a credit card in your home country that doesn't charge any foreign exchange fees and settle it monthly.. this is what I do while living in the Kingdom.

Chase, American Express, Barclay Card World Explorer all offer no exchange fees and can be settle by SWIFT transfer.

Kurt

[trd]

You can get a "secured" credit card from most any Thai bank...no work permit needed. A secured card is one that has a locked savings account as the card's collateral in case you skip country/don't pay the card balance.

Ex: get a secured credit card of say 100K baht line of credit with an associated locked savings account of 100K baht. You can not access the funds in the locked savings account until you pay in full the card balance and cancel the card.

Which banks offer this? I am interested....

I got Visa and MasterCard from SCB. I opted for a 50K credit limit. They opened a separate account to put the money in as collateral and kept the actual savings book at the branch. The account does accrue interest. I finally cancelled the cards a few years later as I had made alternative arrangements overseas. They then released the funds in the locked account and gave it to me in cash plus the interest that had accrued.

[gandalf12]

If you really need one why not get one from your home country?

[shagorillaHotel]

i got one, they charge me three percent to draw MY OWN MONEY from my purposely overpayed credit card account at the home branch's own ATM. I PUT THE EXTRA MONEY IN THERE BECAUSE I THOUGH I COULD USE THE CREDIT CARD AS a normal debit card accessing my own money but they still insist on hitting me with the 3 percent levy (theft )

YOU WANT THAT?

bkk bnk bbl

cant see any use for it except for stuffing the mailbox with junk mail

Edited April 2, 2016 by shagorillaHotel

[nontabury]

If you really need one why not get one from your home country?

I'm not sure what country you come from, but that's not so easy to do from the UK. I have a number of a/c's with the Nationwide,yet when I applied for a credit card from them, they informed me they will not issue to people living in Thailand. What I intend to do on my next visit is to apply with a UK address.

In the meantime I have obtained a SCB's credit card using the procedure as previously posted by a member,in order to hire a car.

[chiang mai]

Ten years ago it was a 3 mill. locked in deposit for a 2 mill. credit limit, am pleased to see the market has become more competitive.

EDIT: no work permit involved.

Edited April 2, 2016 by chiang mai

[TheCruncher]

As stated...most any Thai bank...definitely Bangkok Bank.

And Kasikorn

[TheCruncher]

You can get a "secured" credit card from most any Thai bank...no work permit needed. A secured card is one that has a locked savings account as the card's collateral in case you skip country/don't pay the card balance.

Ex: get a secured credit card of say 100K baht line of credit with an associated locked savings account of 100K baht. You can not access the funds in the locked savings account until you pay in full the card balance and cancel the card.

Which banks offer this? I am interested....

I got Visa and MasterCard from SCB. I opted for a 50K credit limit. They opened a separate account to put the money in as collateral and kept the actual savings book at the branch. The account does accrue interest. I finally cancelled the cards a few years later as I had made alternative arrangements overseas. They then released the funds in the locked account and gave it to me in cash plus the interest that had accrued.

So you put money in a account without any proof, since they kept the passbook at the bank? You are a brave man.

[Pib]

So you put money in a account without any proof, since they kept the passbook at the bank? You are a brave man.

Who said anything about not giving you a passbook. It just a locked account...can't get the money while the credit card is still active and has a balance.

[thrilled]

In Thailand I use cash.It's easier for me.Have some money in schwab.I just go to the ATM,all fees I get reimbursed

[falang07]

I have never needed a credit card, and especially here in Thailand where you have to pay 5% more if you pay by CC compared with cash + the bank charges fees for the card, too. I really do not understand people who have money and still need a credit card. CIMB desperately wanted to give me one and I politely refused. CC is profitable for the bank, not for the customer.

[falang07]

So you put money in a account without any proof, since they kept the passbook at the bank? You are a brave man.

Who said anything about not giving you a passbook. It just a locked account...can't get the money while the credit card is still active and has a balance.

yes, they use your money to provide you a credit, as ridiculous as it can get credit card should be about borrowing money, if you need them and do not have them + are ready to pay the high interest rate. This way, though, I really do not see any reason why would I use my own money through a credit card. I am happy with my debit cards

[trd]

You can get a "secured" credit card from most any Thai bank...no work permit needed. A secured card is one that has a locked savings account as the card's collateral in case you skip country/don't pay the card balance.

Ex: get a secured credit card of say 100K baht line of credit with an associated locked savings account of 100K baht. You can not access the funds in the locked savings account until you pay in full the card balance and cancel the card.

Which banks offer this? I am interested....

I got Visa and MasterCard from SCB. I opted for a 50K credit limit. They opened a separate account to put the money in as collateral and kept the actual savings book at the branch. The account does accrue interest. I finally cancelled the cards a few years later as I had made alternative arrangements overseas. They then released the funds in the locked account and gave it to me in cash plus the interest that had accrued.

So you put money in a account without any proof, since they kept the passbook at the bank? You are a brave man.

They did keep the passbook but I had documentation in the form of letters from head office confirming such with regular statements showing interest paid. The account also appeared on my internet banking. Edited April 2, 2016 by trd

[NanLaew]

... I am happy with my debit cards

... until you try and use one to pay for a hotel room in Singapore, or pay for a rental car in Houston.

[B1TcoinLife]

Some of you guys seem to be very misinformed about the difference in credit and debitcards which are probably too numerous to list but off the top of my head some of the benefits are :

If you get skimmed/hacked they have stolen the banks money, Not yours.... So you are not liable for charges incurred by the thief and refunds are very much easier if you get fraudulently debited

You get rewards to use a credit card, sometimes 3% cashback and 10% off restaurant bills etc

Credit cards are more widely accepted worldwide

They give free gifts like sets of luggage or travel vouchers, all sorts when you spend over a certain amount of $$$$ in a month

They mostly have 0.0% interest rates if paid within 30 days so you get the benefits for free

Some give airmiles or other premium services as an incentive to use them

Many of them give cashback services at any worldwide atm

Some even come with free insurance is you have a mishap while traveling etc

I'm sure there are other benefits as well but these are just the ones I can remember....

If I wanted one from my home country I would apply for it but thanks for that helpful suggestion anyway ....

[tomwct]

I had the same problem, but you will have to wait until you have the work permit! Forget Bangkok Bank they won't help you!

My other bank was Krung Thai. Go see the Manager. Everyone will tell you no, so don't bother with everyone else. The Manager

will handle everything between you and KTB Card Services. They are two different entities. I received my card in about 4 weeks.

A year later, I applied to Citibank at the Mall. They turned me down for being 62. I then contacted the foreign Manager

(I believe American) he said no problem and I received my card in 3-4 weeks! Go to top management, do not waste your time with

anyone else!

[falang07]

... I am happy with my debit cards

... until you try and use one to pay for a hotel room in Singapore, or pay for a rental car in Houston.

I would pay with cash as usual :-) and try to pay with a CC in here, you will have to pay 5% more