Getting a Credit Card, which, here or back home?

[loopz]

Going to move back home soon.

 

Have been working here for many years. Don't have any history of any income back home since many years

 

Need a Credit Card, should I apply for it here before I go? Is there some disadvantages of having a Thai Credit Card when I am planning to go home for a few years?

 

How long would it take for me to get a Credit Card back home, 1 year of regular income salary? Roughly, I know it's impossible to say exact.

 

 

 

Edited October 25, 2016 by loopz

[SGD]

It depends on where "home" is ?

 

If the UK, you can immediately get a bank account and a debit (thought not credit) card so you don't need to just use cash.

 

Once on the electoral roll you can likely get a risky high APR card and from there work your way up.

[loopz]

43 minutes ago, SGD said:

It depends on where "home" is ?

 

If the UK, you can immediately get a bank account and a debit (thought not credit) card so you don't need to just use cash.

 

Once on the electoral roll you can likely get a risky high APR card and from there work your way up.

 

Home is in Western Europe

 

Still have 2 bank accounts and a debit card connected to it, so I can use that as a foundation to get a credit card? What is a risk APR? 

 

 

 

[wump]

I guess in Thailand you won't get a credit card with free currency conversion and zero yearly fee. If you are from Germany, you won't be having trouble getting credit cards, I have like seven of them and I haven't lived or worked there for many years. Also, there is some cards that will work as credit card but don't carry the logo "Debit" as you get billed immediately in the background (the money leaves your account instantly). I have been told most of the credit cards in Germany is actually charge cards as the full amount spent is due 100% once a month. A real credit card is the Amazon one for example. Even though it does carry a fee of 20 Euros you get 0.5% cashback on any purchase and 1% cashback on Amazon purchases and it is very easy to get. Even with no credit history they usually give you 1,500 Euros.

[loopz]

On 26 Oct 2016 at 3:26 PM, wump said:

I guess in Thailand you won't get a credit card with free currency conversion and zero yearly fee. If you are from Germany, you won't be having trouble getting credit cards, I have like seven of them and I haven't lived or worked there for many years. Also, there is some cards that will work as credit card but don't carry the logo "Debit" as you get billed immediately in the background (the money leaves your account instantly). I have been told most of the credit cards in Germany is actually charge cards as the full amount spent is due 100% once a month. A real credit card is the Amazon one for example. Even though it does carry a fee of 20 Euros you get 0.5% cashback on any purchase and 1% cashback on Amazon purchases and it is very easy to get. Even with no credit history they usually give you 1,500 Euros.

 

Thank you.

 

You say you have 7 of them, so most of them you got whilst not having any track records of income in Germany? 

 

 

 

 

 

[elgenon]

If all else fails you could probably get a secured credit card.

[loopz]

I have lived here in Thailand for many years and have a solid history of tax payments here, do you think it is wise to get a credit card here instead, even though I will be going back to my home country for a few years. Or would that be problematic?

 

 

Edited October 28, 2016 by loopz

[wump]

On 10/27/2016 at 0:11 PM, loopz said:

 

Thank you.

 

You say you have 7 of them, so most of them you got whilst not having any track records of income in Germany? 

 

 

 

 

 

 Exactly... no proof of income whatsoever. I'll list you the best cards:

 

1) Number 26 Bank: Free MasterCard (works as credit card), immediate billing with push notification on phone. Zero account keeping fees, zero foreign transaction fees, zero ATM fees worldwide, no card fee

2) Santander 1plus Card: Same as above, but no push notifications.... 1% gas station rebate, no card fee

3) DKB: If income >700€ same benefits as above plus actual interest on credit card: 0.4%, no card fee

4) Payback AMEX: 0.5% Cashback on any purchase, but does have (a ridiculous) currency conversion fee, so only useful for euros, no card fee

5) Amazon credit card: 40-70€ free for opening account, 0.5% cashback on ANY euro purchase, 1% cashback on any Amazon.de-purchases. Yearly fee 20€

 

I recommend the first two for zero currency conversion fee. Credit limits:

 

1) Number 26: No credit, you'd have to put money in first

2) Santander: 1,500€ credit

3) DKB: 500€ credit (can be upgraded if you put a request in the online banking)

4) Payback AMEX: Minimum 5,000€ credit, but they are picky (didn't stop them to accept me)

5) Amazon: Standard limit 1,500€ .

[loopz]

On 29 Oct 2016 at 9:43 AM, wump said:

 Exactly... no proof of income whatsoever. I'll list you the best cards:

 

1) Number 26 Bank: Free MasterCard (works as credit card), immediate billing with push notification on phone. Zero account keeping fees, zero foreign transaction fees, zero ATM fees worldwide, no card fee

2) Santander 1plus Card: Same as above, but no push notifications.... 1% gas station rebate, no card fee

3) DKB: If income >700€ same benefits as above plus actual interest on credit card: 0.4%, no card fee

4) Payback AMEX: 0.5% Cashback on any purchase, but does have (a ridiculous) currency conversion fee, so only useful for euros, no card fee

5) Amazon credit card: 40-70€ free for opening account, 0.5% cashback on ANY euro purchase, 1% cashback on any Amazon.de-purchases. Yearly fee 20€

 

I recommend the first two for zero currency conversion fee. Credit limits:

 

1) Number 26: No credit, you'd have to put money in first

2) Santander: 1,500€ credit

3) DKB: 500€ credit (can be upgraded if you put a request in the online banking)

4) Payback AMEX: Minimum 5,000€ credit, but they are picky (didn't stop them to accept me)

5) Amazon: Standard limit 1,500€ .

 

 

Thank you very much!

 

About payback AMEX, "Minimum 5,000€ credit", you mean up to 5,000€ credit? Or not sure I understand "minimum"

 

Just out of curiosity, do you think it would be problem for me to apply for a credit card here, before I move back, and then use it back home.

 

Is it a clear advantage and more convenient getting a VISA in the country you are most likely to stay, or is there no difference?

 

 

[wump]

AMEX keeps your credit limit a secret, but from what I heard their minimum limit for handing out cards is 5,000 euros, otherwise they'd just refuse your application if you credit score is too low. The card also lowers your credit score, all my other cards have a Schufa of 98-99% while AMEX reports 96%.

 

If you only need the one card, then go for one of the first 3 I mentioned as AMEX is mostly only accepted at Payback partners in Germany. Also has ridiculous charges for use abroad (iirc some 32€ for a 20,000 Baht withdrawal (plus 200 THB Thai fee). I use the card mostly for Paypal as this way I get 0.5% cashback on anything. 

 

Visa and Mastercard are accepted virtually everywhere in Germany now. Very convenient with the NFC chip as you just touch to pay and don't need signature or PIN for small purchases.

 

Number26 takes every applying customer and they don't run your credit score as you only use your own funds when shopping, not the bank's funds. 

 

You *could* apply for the card while still in Thailand as verification is done over a Skype call nowadays where you just hold your passport or German ID into the cam. Technically you would need proof of your German address but this was never enforced with any of my cards.

 

Regarding your last question: Definitely get a German card and not a Thai one as there is no currency transaction fee or yearly fee so the Thai card would only have disadvantages (apart from Thai ATM withdrawals) in comparison to the first three German cards I mentioned.

Edited October 31, 2016 by wump

[loopz]

On 31 Oct 2016 at 4:55 PM, wump said:

AMEX keeps your credit limit a secret, but from what I heard their minimum limit for handing out cards is 5,000 euros, otherwise they'd just refuse your application if you credit score is too low. The card also lowers your credit score, all my other cards have a Schufa of 98-99% while AMEX reports 96%.

 

If you only need the one card, then go for one of the first 3 I mentioned as AMEX is mostly only accepted at Payback partners in Germany. Also has ridiculous charges for use abroad (iirc some 32€ for a 20,000 Baht withdrawal (plus 200 THB Thai fee). I use the card mostly for Paypal as this way I get 0.5% cashback on anything. 

 

Visa and Mastercard are accepted virtually everywhere in Germany now. Very convenient with the NFC chip as you just touch to pay and don't need signature or PIN for small purchases.

 

Number26 takes every applying customer and they don't run your credit score as you only use your own funds when shopping, not the bank's funds. 

 

You *could* apply for the card while still in Thailand as verification is done over a Skype call nowadays where you just hold your passport or German ID into the cam. Technically you would need proof of your German address but this was never enforced with any of my cards.

 

Regarding your last question: Definitely get a German card and not a Thai one as there is no currency transaction fee or yearly fee so the Thai card would only have disadvantages (apart from Thai ATM withdrawals) in comparison to the first three German cards I mentioned.

 

 

Thank you, yeah, I think AMEX is not for me at this point, however cashback on anything is good. 

 

I am still confused with the 5000 Euro minimum thing, that is a credit score? How is that measured? What is it based on, income? Amount of money in the bank?

 

Yes I will not get a Thai card, as I would have to pay currency transaction fees.