anyone using the bkk bank platinum credit card ?

[speedtripler]

had a few questions about this card which none of the girls in my branch can answer (or they give different answers )

i want to buy large ticket items in usd or euros ,lets say $1000-5000 per purchase ,a few times a month

am i going to get charged for doing that at international rates? ( even though i would do it online without me or the card leaving thailand )

am i allowed to overload the card with funds ? (if the limit is supposed to be 100,000 a month can i transfer an extra million to the card and keep spending without incurring penaltys ? )

would i be safer telling them in the branch that this card will not suffice and asking for one that is larger than i need ( i read its better for your credit rating to only spend about a one third of your limit instead of maxing out the card every month but i dont know if this applies in thailand

[JayBird]

I've been told this by BKK (and Krung Thai) so I believe this is standard:

You can temporarily up your balance limit by securing cash with them, make the transaction, pay the bill, then reduce your balance limit and release the funds.

I believe you are using secured credit card, so you can go from 100k to 500k, buy the tickets, pay the bill, then take back 400k cash and leave the other 100k there. Note: When you do this, the extra amount must be put into a LIQUID investment (cash) not CD/Bond

As for foreign purchases, you get charged whatever the merchant is charging you (if they only charge in USD, you will get charged in USD and pay the international surcharge (I think 3%)). Some merchants (Amazon?) will convert the fee into your local currency for you (at an exchange rate favourable to them) but you do avoid the 3% surcharge.

Your physical location has nothing to do with it.

[speedtripler]

I've been told this by BKK (and Krung Thai) so I believe this is standard:

You can temporarily up your balance limit by securing cash with them, make the transaction, pay the bill, then reduce your balance limit and release the funds.

I believe you are using secured credit card, so you can go from 100k to 500k, buy the tickets, pay the bill, then take back 400k cash and leave the other 100k there. Note: When you do this, the extra amount must be put into a LIQUID investment (cash) not CD/Bond

As for foreign purchases, you get charged whatever the merchant is charging you (if they only charge in USD, you will get charged in USD and pay the international surcharge (I think 3%)). Some merchants (Amazon?) will convert the fee into your local currency for you (at an exchange rate favourable to them) but you do avoid the 3% surcharge.

Your physical location has nothing to do with it.

in my online banking app there is an option to transfer money to credit card

i am unsure if this is effectively raising the balance or can be only be used for repayment against purchases already made

should know in a couple of days (i transferred cash over today so they should send me an sms next time i make a purchase with the remaining available balance )

i want to buy goods from my home country but if there another 3% for currency exchange/merchants fees on top it makes more sense to use funds that are already in my home country

[Pib]

Bangkok Bank Platinum credit card charges a 2.5% foreign transaction fee (they call it currency conversion risk) and Bt3,000 annual fee.

See below Bangkok Bank web page for general info on the card and click the Related Links Fees and Conditions for fee info.

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/CreditCards/CreditCardType/PlatinumVisaCard/Pages/VisaPlatinumcreditcard.aspx

[AlexRRR]

If your buying in your home country use your home card...simply isn't it?

[speedtripler]

If your buying in your home country use your home card...simply isn't it?

another english teacher inda h0use....hurrah innit !

[speedtripler]

Bangkok Bank Platinum credit card charges a 2.5% foreign transaction fee (they call it currency conversion risk) and Bt3,000 annual fee.

See below Bangkok Bank web page for general info on the card and click the Related Links Fees and Conditions for fee info.

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/CreditCards/CreditCardType/PlatinumVisaCard/Pages/VisaPlatinumcreditcard.aspx

just called them and the automated service said you have overpaid your bill by 100,000 so your available credit is now 200,000 for this month

doesnt seem to be any penalty for doing it like that ,will update thread when i get the bill

the bank girl said it was free to use the card if you spend 5000thb or more each year but apparently not at tesco lotus and jaymart lol

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/CreditCards/Pages/TermsandConditionsall.aspx

maybe these fees get waived ,i am not sure yet .......

[Pib]

They do waive the fees in certain cases.

[B1TcoinLife]

I use a bkk credit card to pay for stuff and AFAIK they're isn't any fees, yearly or per transaction

Maybe i should check the bills more carefully but the amount charged at the store is normally the exact same as the amount they ask

I think they're happy enough getting 2-3% from the merchant and if it cost the average somchai more than using cash He would just use cash

[Richie23]

Worth noting that you are only allowed 50% of your total credit in cash. I paid a large chunk off my card, went to withdraw some cash and it didn't work. Bangkok bank then explained why...

[B1TcoinLife]

Has anyone managed to connect your bkk bank current/savings account to the credit card so you can make atm withdrawals for free (without the need to carry 2 cards and not pay a cash advance fee either?)

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/CreditCards/CreditCardType/PlatinumVisaCard/Pages/VisaPlatinumcreditcard.aspx

Unfortunately, I think they can only do it in the branch so that means another trip in.... But worthwhile if you can withdraw 50,000 for free anytime

[JayBird]

I've been told this by BKK (and Krung Thai) so I believe this is standard:

You can temporarily up your balance limit by securing cash with them, make the transaction, pay the bill, then reduce your balance limit and release the funds.

I believe you are using secured credit card, so you can go from 100k to 500k, buy the tickets, pay the bill, then take back 400k cash and leave the other 100k there. Note: When you do this, the extra amount must be put into a LIQUID investment (cash) not CD/Bond

As for foreign purchases, you get charged whatever the merchant is charging you (if they only charge in USD, you will get charged in USD and pay the international surcharge (I think 3%)). Some merchants (Amazon?) will convert the fee into your local currency for you (at an exchange rate favourable to them) but you do avoid the 3% surcharge.

Your physical location has nothing to do with it.

in my online banking app there is an option to transfer money to credit card

i am unsure if this is effectively raising the balance or can be only be used for repayment against purchases already made

should know in a couple of days (i transferred cash over today so they should send me an sms next time i make a purchase with the remaining available balance )

i want to buy goods from my home country but if there another 3% for currency exchange/merchants fees on top it makes more sense to use funds that are already in my home country

Interesting point: Not sure if that ups the limit or simply pays off what's there and gives you a 'positive net balance' but not necessarily increases your maximum credit line.

That being said, the web site you are booking from *MIGHT* allow you to choose THB as your currency. Dig around and you might find it!

[RBOP]

Every year I have to call my bank and ask for temporary double my credit limit cause Im travelling. Its never been an issue and Ive never had to put up any money before hand.

As long as your credit rating is good they should increase your credit limit short time.

[osandpo]

Your credit score may marginally be affected by regular high utilization, but typically ONLY if any of the following also apply as well (each bank has its own behaviour scores so they differ in content):

- Regular late payments more than 2-3 days after the due date (especially if a month end falls between due date and payment date)

- High revolving balance (paying the minimum 10% instead of the full balance each month

- % utilization increasing consistently over time

- Significant amount of other loan and card balances (compared with monthly income) in the bank and across the banking system

- Late payment records in other loans and cards across the banking system

- Being a non-Thai (we're usually statistically worse risks because of farang who up and leave without clearing their card debts)

Best way to get a bigger limit and by-pass any credit score worries is to place funds on deposit to secure a higher card limit, as someone else mentions

Oh, one more thing. If you're in Thailand making significantly large and regular card payments to overseas suppliers in foreign currencies, be sure to keep detailed records. There's a small chance you'll trigger anti-money laundering or exchange control investigation guidelines.

[jippytum]

I've been told this by BKK (and Krung Thai) so I believe this is standard:

You can temporarily up your balance limit by securing cash with them, make the transaction, pay the bill, then reduce your balance limit and release the funds.

I believe you are using secured credit card, so you can go from 100k to 500k, buy the tickets, pay the bill, then take back 400k cash and leave the other 100k there. Note: When you do this, the extra amount must be put into a LIQUID investment (cash) not CD/Bond

As for foreign purchases, you get charged whatever the merchant is charging you (if they only charge in USD, you will get charged in USD and pay the international surcharge (I think 3%)). Some merchants (Amazon?) will convert the fee into your local currency for you (at an exchange rate favourable to them) but you do avoid the 3% surcharge.

Your physical location has nothing to do with it.

This information is correct .Twice a year i have two large outlays one is Bupa .I request a temp increase in limit and if part covered by funds in account

they agree.

[B1TcoinLife]

I have read its better to request a higher limit than overload your card with money because some of the card protection services might not apply..... Since if the card is overloaded and gets skimmed etc they have effectively stolen your money, not money that belongs to the visa/Mastercard company.....

No idea if this is true in thailand or not but I can see the bank reversing a charge if they are out of pocket much more easily than if you are at a loss from your own balance...

[jacko45k]

I was able to increase my cards limit quite easily, with equivalent funds locked away in a fixed term deposit account!

There does seem to be a facility to pay the card off early, ie before the regular due date in order to permit further purchases on-line .

My large ticket items are just that, air-tickets and I get the price in Thai baht so no knowledge wrt international rates, I have made numerous small price purchases in £ or Euros but see it as Thai baht on my statement.

Edited June 25, 2016 by jacko45k