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

[Top man]

you're so right.

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.

[2fishin2]

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...

If it is a debit card with mastercard or visa on it and the business you want to use it at uses one of those companies, YES they will

[theoldgit]

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...

If it is a debit card with mastercard or visa on it and the business you want to use it at uses one of those companies, YES they will

I'm aware of some restaurants and at least two hospitals that won't accept debit cards even with the magical Visa or MasterCard logos on them - only credit cards.

[theoldgit]

Think I may have had one occasion when I was told the business did not accept debit cards. My response was you'd rather accept the card of some deadbeat maxed out to his credit limit, than someone with solid cash in the bank. In that case, I prefer not to do business with you.

So how would you handle a scenario in a restaurant where they wouldn't accept a debit card and you'd already eaten a meal, or a similar situation in a hospital were you'd had treatment and they'd only accept a credit card?

[MyFriend You]

as posted before by me - I went to update my passbook, have less than a Mil Baht, clerk read the screen, and said "Sir, you never picked up your master card", gave me an Int'l M/C I can use anywhere. I didn't ask, I never applied for it, they gave it to me. I have been keeping an eye on the acct, because I don't use it anyway, no activity at all. I suspected a scam to clean the acct out..........

[The Deerhunter]

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

Yes. keeping or getting a Visa CC in your home country and using it as necessary and paying it off with funds from there is an easier option if it suits your circumstances.

[jacko45k]

Bangkok Bank in Pattaya seem keen to give credit cards to foreigners, that or they have forgotten about the notice.

Of course it is secured in that you need to have a fixed deposit equal to your 'credit limit', and that cannot be touched.

The savings account is used to pay off the card completely each month.

Not truly a credit card, nevertheless I find it useful for many things.

[dotpoom]

Got two recently from BKK Bank and didn't even ask for them...they were just sent to me in the post, followed by the PIN no's about 10 days later. Funny thing is....I keep a tiny amount of money in that particular bank?

[Nickthegreek]

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....

Siam commercial and Tannachart ..

[NanLaew]

Amazing how a grown man in this day and age, with millions, is waiting for a work permit to work in Thailand?

Plus has zero credit in Thailand or in their home country?

With a verifiable income and good credit history you can get a pile of credit cards from every bank.

Of course if you are one of those "educators" earning 20k a month, maybe you do not have enough income to qualify and need a secured card.

How do you get a good credit history in Thailand ?

I guess by using the credit card and always paying the bills on time.... But actually I am not even sure if Thailand have a credit history.....

I was told I had good credit here when I was trading in my first truck (on finance and in my name) for a new one. When I suggested that I could defer the new truck purchase a couple of months till just after the first truck was paid off, the sales lady said that at that point I would have NO credit history and would need reassessment and wouldn't get the lower down-payment and best interest rates. She suggested that seeking new finance while having current finance would work much better. So whether Thailand maintains any records on an individuals credit history or whether the 'wipe the slate' after each finance deal is satisfactorily completed is anyone's guess.

[jphasia]

I have a BB Visa credit card (Platinum). They give it to me when i was on work permit in 2000. They is no lock deposit for it. However the max credit limit is 70,000b monthly. Since, I stopped to be on work permit, changed bank branch few time but still receive a new card by post when it expired. At that time, I also applied for Amex credit card in Thailand. They gave me a Gold.Amex without any deposit. The Amex card has been renewed automaticaly since 2000. Few years ago, I found at that i could get an additional Amex card to be link the original. I applied for my girlfriend to get one. They sent her a Gold Amex card with her name on it and different card number than mine but the billing is done on the same invoice. Few years ago, Amex contacted me an offered me to upgrade to the Platinum card as long customer. I refused as the annual fee was much higher than the gold and i couldn't find the interest. They told me to contact them anytime if i change my mind.

Both cards are widely accepted and very convenient for.my needs.

Few months ago, Bangkok Bank was advertising their Visa Air Asia Credit Card. I contacted them as i am regular Air Asia customer (at least 4 flights per week) and purchase all my tickets online using my Bangkok Bank Credit Card. They told me I can get an Air Asia Credit Card but i will need to secure a fixed amount in an account despite that i already have a credit card with them. I refused.

[theguyfromanotherforum]

If you are a Westerner why would you want to have a Thai credit card that doesn't even protect you from fraud? Also rewards really suck. With my Canadian card I have never paid for travel in the past 7 years.

Like owning a condo for "investment" in Thailand vs West. No point whatsoever unless you like making your life difficult.

[chiang mai]

I think it makes sense, we use my UK based credit cards for large purchases outside Thailand and my wife's Thai credit card for purchases inside, the latter having only a 50K credit limit hence our loss exposure is low plus we don't suffer exchange rates penalties.

BTW if you live here, buying condo's in Thailand is a decent way to avoid paying rent and as a home for foreign currency that is likely to depreciate against THB in the future. You might also actually make a profit on the sale or via rental income. Remember, you heard it here first!

[jphasia]

If you are a Westerner why would you want to have a Thai credit card that doesn't even protect you from fraud? Also rewards really suck. With my Canadian card I have never paid for travel in the past 7 years.

Like owning a condo for "investment" in Thailand vs West. No point whatsoever unless you like making your life difficult.

Simple for me. I am a foreigner (from Europe) and left my original country 30 years ago and never went back. I leave in Thailand where I have a family. I have a house here which is my main residence. I used to work in Thailand but for many years now, I am working outside Thailand but not in Europe. Mainly in neighbors countries but my incomes are all paid in Thailand, whatever in Foreign currency account or Thai bahts account from overseas. I don't have any address in my original country, neither any properties and neither any bank account. The only thing that keep me link to my original country is my passport. So it is convenient for me to have bank accounts in Thailand as well as credit cards here.

[Don Mega]

If you are a Westerner why would you want to have a Thai credit card that doesn't even protect you from fraud? Also rewards really suck. With my Canadian card I have never paid for travel in the past 7 years.

Like owning a condo for "investment" in Thailand vs West. No point whatsoever unless you like making your life difficult.

As a westerner working here why would I not have a Thai credit card ?

Not a chance would I shovel money back to my home bank account simply to maintain a credit card there..... that would leave a paper trail that the taxman might one day take an interest in.

[akentryan]

I have deposits at Krungthai Bank. They gave me a KTB Visa card good for 5 years with a 200,000 baht limit. There are no pledged accounts. I did not ask for it but the lady at the bank asked if i would like to have one.

[55Jay]

If you are a Westerner why would you want to have a Thai credit card that doesn't even protect you from fraud? Also rewards really suck. With my Canadian card I have never paid for travel in the past 7 years.

Like owning a condo for "investment" in Thailand vs West. No point whatsoever unless you like making your life difficult.

As a westerner working here why would I not have a Thai credit card ?

Not a chance would I shovel money back to my home bank account simply to maintain a credit card there..... that would leave a paper trail that the taxman might one day take an interest in.

Makes total and complete sense to me. Your situation isn't shared by all though.

[mrfaroukh]

You can talk to them that for example you need a credit card with max limit of for example 400 000 Baht, more or less up to you. In that case they will open an account for you and transfer that much amount of money into the account to secure the repayment of the money you use. If you settle the bill on time then you will still be able to use your credit card if you fail to do so they will make the payment of your bill from the account which is secured for your credit card bill.

[55Jay]

Nice little credit card comparison site. You can plug in some basic info at the top and a personal focus like rewards, airline miles, etc. Looked at one card's FAQ, only have one question regarding fraud/unauthorized use.

http://www.moneyguru.co.th/en/credit-card

Looking at Visa.com, the Visa "Zero Liability" fraud protection program has an asterisk, indicating only applicable for US issued cards.

Visa.com.th is all in Thai, can't find an "Eng" button, only select which Visa country website you want, which would likely have different T&Cs .

Inclined to stay with my US cards.

[HampiK]

If you are a Westerner why would you want to have a Thai credit card that doesn't even protect you from fraud? Also rewards really suck. With my Canadian card I have never paid for travel in the past 7 years.

Like owning a condo for "investment" in Thailand vs West. No point whatsoever unless you like making your life difficult.

Now it become more and more difficult to have a credit card at origin country if you not really leave there anymore.. because home for many is Thailand.

​For example as Swiss.. it is more and more difficult to become a payable bank account in Switzerland. If you have an account on some banks and your registered address is Thailand you have to pay annual fees of over 10'000 Baht. And without a swiss bank account you can't have a swiss credit card.

What some people do if possible for them to still have an adress for the bank in Swiss, because the whole business can be done online anyway and they never will send any mail. But as soon they will find out that you are not living in Swiss they will increase the monthly fees extremly and then it's the question what is better.

About the fraud with Thai credit cards, there is also one simple way which maybe can help for some people. Put a very low credit limit as possible, which you not angry too much if loose it.. And when you know you will use your card for something bigger but the expected money into the credit card account 2-3 days before and you will have a higher credit limit.

I have used my thai credit card 2-3 times to pay something much higher than my credit limit and it worked fine, when i put the money 2-3 days before to the credit account. In the online banking i can see the credit limit of my credit card has increased... but of course will go down afterwards again...

But anyway I hope Thailand also will proctect their customers better in future... hope never dies....

Edited April 6, 2016 by HampiK

[Pib]

I have used my thai credit card 2-3 times to pay something much higher than my credit limit and it worked fine, when i put the money 2-3 days before to the credit account. In the online banking i can see the credit limit of my credit card has increased... but of course will go down afterwards again...

You must be talking a "secured" credit card with a collateral savings account since you say the credit limit goes up and down with the the savings account amount, but what Thai bank offers that approach of a varying credit line based on amount in the collateral account? Usually you must open a locked account in X-amount...says Bt100K...to get a Bt100K line of credit and it's not something you can change quickly/easily.

Or maybe you are talking a "prepaid/preloaded" credit card versus a secured credit card?

Edited April 6, 2016 by Pib

[HampiK]

I have used my thai credit card 2-3 times to pay something much higher than my credit limit and it worked fine, when i put the money 2-3 days before to the credit account. In the online banking i can see the credit limit of my credit card has increased... but of course will go down afterwards again...

You must be talking a "secured" credit card with a collateral savings account since you say the credit limit goes up and down with the the savings account amount, but what Thai bank offers that approach of a varying credit line based on amount in the collateral account? Usually you must open a locked account in X-amount...says Bt100K...to get a Bt100K line of credit and it's not something you can change quickly/easily.

Or maybe you are talking a "preloaded" credit card versus a secured credit card?

Not the saving account... You have an account where you have to pay your monthly bills. When you pay to this account before the bills, the credit limit will increase.

When i log into my online banking i see an account number with the credit card (Where i have to pay monthly bills). When i transfer money to this account before this will result in an increas of the credit limit for a short period

Have absolute nothing to do with secured card. It's definitiv a normal credit card.

[Pib]

Nice little credit card comparison site. You can plug in some basic info at the top and a personal focus like rewards, airline miles, etc. Looked at one card's FAQ, only have one question regarding fraud/unauthorized use.

http://www.moneyguru.co.th/en/credit-card

Looking at Visa.com, the Visa "Zero Liability" fraud protection program has an asterisk, indicating only applicable for US issued cards.

Visa.com.th is all in Thai, can't find an "Eng" button, only select which Visa country website you want, which would likely have different T&Cs .

Inclined to stay with my US cards.

One thing that website reaffirms in a round-about-way is you could have pensions or savings coming out your butt, but unless "employed" (having a work permit) your chances of getting approved for an unsecured Thai credit card are low. Guess "employed" farangs are much more trustworthy than farangs who have retired from work and now living off pensions/savings which in numerous cases exceeds the income of the employed/still working folks....definitely more than the majority of Thais. But I do under stand the banks probably have statistics showing employed farangs are much less likely just to skip Thailand one day leaving behind an unpaid credit card balance.

Apply for a Credit Card in Thailand

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After comparing the various credit cards available to you, just click the Apply button to start the online application process!

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- Proof of Identity

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Some banks may be stricter with these requirements than others, so be sure to carefully read their requirements before you click Submit!

[55Jay]

I have used my thai credit card 2-3 times to pay something much higher than my credit limit and it worked fine, when i put the money 2-3 days before to the credit account. In the online banking i can see the credit limit of my credit card has increased... but of course will go down afterwards again...

You must be talking a "secured" credit card with a collateral savings account since you say the credit limit goes up and down with the the savings account amount, but what Thai bank offers that approach of a varying credit line based on amount in the collateral account? Usually you must open a locked account in X-amount...says Bt100K...to get a Bt100K line of credit and it's not something you can change quickly/easily.

Or maybe you are talking a "preloaded" credit card versus a secured credit card?

Not the saving account... You have an account where you have to pay your monthly bills. When you pay to this account before the bills, the credit limit will increase.

When i log into my online banking i see an account number with the credit card (Where i have to pay monthly bills). When i transfer money to this account before this will result in an increas of the credit limit for a short period

Have absolute nothing to do with secured card. It's definitiv a normal credit card.

That sounds strange. Are you saying unsecured credit cards in Thailand don't have a fixed line of credit? For example, one of my (US) cards has $7,500 credit limit. As I use it, my available credit line decreases in relation to the charges made. I charge $2,000, my running credit available is 5,500. When I pay the bill in full at the end of the month and there are no pending charges waiting to clear, my credit available is back up to $7,500.

My card only allows 10% max to be paid over and above the total amount owed. I've done that a few times, but it has no bearing on the $7,500 credit limit.

Edited April 6, 2016 by 55Jay

[stoli]

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

Schwab is definitely changing their policies. 2 months ago I went to a Charles Schwab Bank in the states to open an account. They said you first go to Charles Schwab Brokerage and open an account there. I went to Schwab Brokerage and they said you must first invest $10,000 with them. I am happy with my brokerage that I use currently, and did not need to have a another brokerage account with Schwab. With a Bangkok Bank debit card, who the heck pays ATM fees anyways?

[natway09]

You people who go on about not needing a credit card obviously do not travel much

Cannot use internet for hotel or air bookings & 95% of rental car outlets are "cashless"

Pop into KTC & they will give you one

[HampiK]

I have used my thai credit card 2-3 times to pay something much higher than my credit limit and it worked fine, when i put the money 2-3 days before to the credit account. In the online banking i can see the credit limit of my credit card has increased... but of course will go down afterwards again...

You must be talking a "secured" credit card with a collateral savings account since you say the credit limit goes up and down with the the savings account amount, but what Thai bank offers that approach of a varying credit line based on amount in the collateral account? Usually you must open a locked account in X-amount...says Bt100K...to get a Bt100K line of credit and it's not something you can change quickly/easily.

Or maybe you are talking a "preloaded" credit card versus a secured credit card?

Not the saving account... You have an account where you have to pay your monthly bills. When you pay to this account before the bills, the credit limit will increase.

When i log into my online banking i see an account number with the credit card (Where i have to pay monthly bills). When i transfer money to this account before this will result in an increas of the credit limit for a short period

Have absolute nothing to do with secured card. It's definitiv a normal credit card.

That sounds strange. Are you saying unsecured credit cards in Thailand don't have a fixed line of credit? For example, one of my (US) cards has $7,500 credit limit. As I use it, my available credit line decreases in relation to the charges made. I charge $2,000, my running credit available is 5,500. When I pay the bill in full at the end of the month and there are no pending charges waiting to clear, my credit available is back up to $7,500.

My card only allows 10% max to be paid over and above the total amount owed. I've done that a few times, but it has no bearing on the $7,500 credit limit.

They have a fixed credit limit. But it seems, when i pay to the credit card account my limit will go up. I haven't tried this with my (Swiss) card yet.. maybe should look what happened.

But on the other site your credit card has an account behind, which can be used to pay money to it as well.. I know a few times when i become back from credit card (For example by a Storno... The money would stay on my credit card account (Swiss credit card) and then when i use my card next time my bill was smaller.. But actually i never checked that time if my credit limit was higher while there was some money on my account.

Was surprise me, is that your card only allow 10% max to be paid over. ON the other site... how i can know if i have a secured credit card! But as far I know i have a normal credit card. I never had to put money in a special account, nor have I a deposit which is looked. But maybe I had the card and my account at a time when it was easier... because is already a few years back.

[55Jay]

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

Schwab is definitely changing their policies. 2 months ago I went to a Charles Schwab Bank in the states to open an account. They said you first go to Charles Schwab Brokerage and open an account there. I went to Schwab Brokerage and they said you must first invest $10,000 with them. I am happy with my brokerage that I use currently, and did not need to have a another brokerage account with Schwab. With a Bangkok Bank debit card, who the heck pays ATM fees anyways?

A brokerage acct is part of the deal to get the checking account with Schwab. You don't have to use the brokerage acct. Similar to one of my credit unions. Have to establish membership with a simple savings account ($5.00) first, then can open a checking account, etc.

Did you not have a US physical address, or otherwise tell Schwab you live outside the US? Sounds like they were steering you toward a Schwab International account.

[Pib]

@Hampick: I think you've been confusing you max line of credit with your available line of credit. As you pay down/off a balance your available line of credit will increase up to your Max line of credit. That's standard with credit cards...secured or unsecured.

Edited April 6, 2016 by Pib

[55Jay]

That sounds strange. Are you saying unsecured credit cards in Thailand don't have a fixed line of credit? For example, one of my (US) cards has $7,500 credit limit. As I use it, my available credit line decreases in relation to the charges made. I charge $2,000, my running credit available is 5,500. When I pay the bill in full at the end of the month and there are no pending charges waiting to clear, my credit available is back up to $7,500.

My card only allows 10% max to be paid over and above the total amount owed. I've done that a few times, but it has no bearing on the $7,500 credit limit.

They have a fixed credit limit. But it seems, when i pay to the credit card account my limit will go up. I haven't tried this with my (Swiss) card yet.. maybe should look what happened.

But on the other site your credit card has an account behind, which can be used to pay money to it as well.. I know a few times when i become back from credit card (For example by a Storno... The money would stay on my credit card account (Swiss credit card) and then when i use my card next time my bill was smaller.. But actually i never checked that time if my credit limit was higher while there was some money on my account.

Was surprise me, is that your card only allow 10% max to be paid over. ON the other site... how i can know if i have a secured credit card! But as far I know i have a normal credit card. I never had to put money in a special account, nor have I a deposit which is looked. But maybe I had the card and my account at a time when it was easier... because is already a few years back.

Banks generally establish a fixed line of revolving credit for X amount based on your credit history, employment, income, etc.

You can request an credit line increase once you establish a good history of payments, or they may offer it to you without asking.

Not sure what you've got going on, just sounds a bit odd to me is all. I could be wrong. Often am.