Getting a Thai Credit Card

[jacobsladder]

We've been in Rayong since last June and want to stop using our overseas credit cards. How easy is is it to get a Thai credit card? Where do you suggest applying? We need a limit of 100,000 Baht. We both work and our salaries are paid into a Thai bank account. Joint or separate cards would be fine. Thoughts?

[Crossy]

Start with your current bank(s). That said we're with Bangkok Bank and Siam Commercial but have cards with Citi and AmEx.

 

AmEx started with a limit equivalent to my monthly salary and have never increased it in 6 years. Citi also started with slightly over my monthly salary, evidently I didn't use it enough because it's now more than 5 time the initial starting value, handy for those unexpected outgoings but it still gets paid off every month.

 

Both the above are unsecured, and were offered to me as a Royal Orchid Plus Gold member, I didn't ask. But do note I had slightly more than 12 months work history here.

 

Most of the banks will also do cards secured against a fixed deposit, you may be able to top-up your limit (or get a second secured card).

[Swiss1960]

Go to your bank. Easiest solution is to get joint cards against a fixed deposit account of twice (for foreigners) your card limit, set up direct debit to your savings account and the bankbook of your new fixed account will be held within your bank.

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[Fookhaht]

When you must have a fixed deposit account in order to get a credit card, isn't "credit" somewhat of a misnomer or even a joke?

If you have the cash already, why ask for credit? Why not just use the cash?

In Thailand, it's now so easy to do interbank transfers through ATMs or online. In addition, Visa debit cards now provide the convenience that formerly credit cards gave.

I don't see the point in struggling trying to get a credit card in Thailand, in that it is so restrictive for foreigners. IMHO, a foreign credit card works just fine for traveling emergencies over and above a debit card.

Bangkok Bank refused issuance of a credit card to me for a measly 50,000 baht credit limit (with over a 100K monthly income), and Chase Bank at the same time issued me a credit card for $5000 USD credit limit. Go figure. It's not worth the struggle for me to jump through all the hoops here for an unsecured credit account with even a small limit. If they want a fixed deposit account, no thanks, I'll just use the cash when I need it.


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[Swiss1960]

When you must have a fixed deposit account in order to get a credit card, isn't "credit" somewhat of a misnomer or even a joke?

If you have the cash already, why ask for credit? Why not just use the cash? In Thailand it's now so easy to do interbank transfers through ATMs or online. Visa debit cards now provide the convenience that formerly credit cards gave.


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One: I get 1.5% interest on the fixed acct, more than I have on my savings acct.
Two: it still is a credit card, I have an average of 30 days from purchase to direct debit AND - if I really wanted to pay 20% interest - I could to partial payments
Three: Cash proves difficult for online payments, i.e. flight tickets
Four: I like the bonus system of my card, I.e. one free domestic flight per year.

Credit cards are not always about credit...

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[Fookhaht]

One: I get 1.5% interest on the fixed acct, more than I have on my savings acct.
Two: it still is a credit card, I have an average of 30 days from purchase to direct debit AND - if I really wanted to pay 20% interest - I could to partial payments
Three: Cash proves difficult for online payments, i.e. flight tickets
Four: I like the bonus system of my card, I.e. one free domestic flight per year.

Credit cards are not always about credit...

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Points well taken!


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[mathewstim]

Best option is to apply against bank deposit. Saves you hassle of documentation and in many cases you get credit card instantly,

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[dotpoom]

I got two from Kasikorn Bank and I never even asked for them....Visa and Mastercard. They are still lying in a drawer unopened.

[Don Mega]

Kasikorn offered me one, limit is 3 times my monthly salary. Paperwork was easy.

[HampiK]

I think it depends on the bank and the branch.

 

I also became a free credit card about 6 years ago which have many advantages (bonus system and other amenities). I never worked in Thailand,

I hope this will help me in future to obtain an other credit card, because I use that one quite often so my credit history should show me a good "grade"

 

But I also heared from many that it's difficult to obtain one. It's always the same.. some are lucky to become it easy others struggle....

[RBOP]

If you have a work pemit its easy. Since you already have a Thai bank account go to your branch and enquire. Some of the smaller branches may not offer this service so you may have to go a bigger branch. There are many different types of credit cards and fees so study up. I suggest you also link your credit card to your Thai bank account online so you can quickly check balances, transfer, etc. Also sign up for sms alerts when credit card is used including bank transactions on your Thai bank account. Tell the bank to set up auto payment to deduct from your bank account to the credit card so you wont be paying interest too. Good luck. 

[JaiLai]

Is the points system worth anything?

Lotus you spend 10s of thousands and maybe get 1 x M150, Makro the same and Homepro.

One thinks that unless you're a big spender the points system a waste of time...

[4MyEgo]

4 hours ago, Fookhaht said:

Three: Cash proves difficult for online payments, i.e. flight tickets
Four: I like the bonus system of my card, I.e. one free domestic flight per year.

Credit cards are not always about credit...

I find it difficult to understand that people require credit cards.

 

From my humble observations when credit cards were introduced to this day, I see them as the banks brainstorm idea to trap the masses into debt, by charging ridiculous interest rates as high as 20%.

 

Think about it, you say earn 1.5% interest on your savings account, yes correct, however did you think that they lend that money back to you at 20% for the privilege of using a card, a (credit card) and in some instances charge you an annual fee for the card (not talking about Thailand as I am not familiar with their system).

 

The trap is set when the masses take out the credit cards and cannot afford to pay back the amount borrowed, so to reduce the loan shark tactic, they allow you the option to pay a certain low amount monthly, while interest is being compounded on the amount you originally borrowed, last time I checked the Jones's and the Smiths in Australia owed something like $32,000,000,000 dollars or $4,300 per credit card issued.

                                                                                                                                                 (Billion)

 

Spend more and earn points, sure spend more and earn point, the carrot being dangled to further entrap you, suffice to say, never, ever had one, never ever will, the savings debit card allows you to do everything a credit card does without paying up to 20% interest any any annual fees, if any.

 

To go one step further, have a look at booking a rental car in Australia, you will be lucky to find one rental car company that will accept a debit card, Avis, the rest are credit cards, why, they are in bed with the banks, some airlines would do the same, so by choice, I don't use the others, and the more people start to realise that its a big trap, the more they will be paying from their pockets.  

 

Remember when your parents said, if I haven't got the money, I will wait till I save for it, well, that is good learning passed down, and as the Greek Tycoon once said, "borrow the banks money, to make money"

 

Enjoy your free annual domestic flight 555

[4MyEgo]

20 minutes ago, JaiLai said:

Is the points system worth anything?

Lotus you spend 10s of thousands and maybe get 1 x M150, Makro the same and Homepro.

One thinks that unless you're a big spender the points system a waste of time...

My Mrs has a Lotus points card, every time she shops, she scans her card and they send her a form with redeemable points, sometimes 200-300 baht worth x 3-4, might want to apply for one ?

[Don Mega]

2 minutes ago, 4MyEgo said:

I find it difficult to understand that people require credit cards.

 

From my humble observations when credit cards were introduced to this day, I see them as the banks brainstorm idea to trap the masses into debt, by charging ridiculous interest rates as high as 20%.

 

Think about it, you say earn 1.5% interest on your savings account, yes correct, however did you think that they lend that money back to you at 20% for the privilege of using a card, a (credit card) and in some instances charge you an annual fee for the card (not talking about Thailand as I am not familiar with their system).

 

The trap is set when the masses take out the credit cards and cannot afford to pay back the amount borrowed, so to reduce the loan shark tactic, they allow you the option to pay a certain low amount monthly, while interest is being compounded on the amount you originally borrowed, last time I checked the Jones's and the Smiths in Australia owed something like $32,000,000,000 dollars or $4,300 per credit card issued.

                                                                                                                                                 (Billion)

 

Spend more and earn points, sure spend more and earn point, the carrot being dangled to further entrap you, suffice to say, never, ever had one, never ever will, the savings debit card allows you to do everything a credit card does without paying up to 20% interest any any annual fees, if any.

 

To go one step further, have a look at booking a rental car in Australia, you will be lucky to find one rental car company that will accept a debit card, Avis, the rest are credit cards, why, they are in bed with the banks, some airlines would do the same, so by choice, I don't use the others, and the more people start to realise that its a big trap, the more they will be paying from their pockets.  

 

Remember when your parents said, if I haven't got the money, I will wait till I save for it, well, that is good learning passed down, and as the Greek Tycoon once said, "borrow the banks money, to make money"

 

Enjoy your free annual domestic flight 555

55 days interest free.

[jippytum]

Its easy as there is no risk to the bank .Twice the limit required as a deposit ,No fee or annual fee for the card .I use mine everyday shopping collect the points and earn interest on the deposit .Handy also for all on line purchases ie  airline tickets ,eBay, etc etc.

[Don Mega]

1 minute ago, jippytum said:

Its easy as there is no risk to the bank .Twice the limit required as a deposit ,No fee or annual fee for the card .I use mine everyday shopping collect the points and earn interest on the deposit .Handy also for all on line purchases ie  airline tickets ,eBay, etc etc.

Yeah you aint got a credit card.

[chiang mai]

UOB just offered me one with no strings attached, no tied up funds or anything, I haven't found the catch yet and indeed there may not be one.

[Dan5]

Why not just use one of your debit cards. The ones you get when you open Thai bank accounts? I know there are rare exceptions where you might need a credit card instead of a debit, but in all the years I've been here, I've only run into that one time. Otherwise, Thai debit cards have worked fine for me.

[JaiLai]

1 hour ago, 4MyEgo said:

My Mrs has a Lotus points card, every time she shops, she scans her card and they send her a form with redeemable points, sometimes 200-300 baht worth x 3-4, might want to apply for one ?

200-300 baht worth of vouchers with how much expendure??

[Guest]

What is the fee of paying with credit card?

 

Is there a sweet spot, which makes us paying less than paying with cash?

 

I guess banks have calculated these cost to be on their advantage. The reason they offer credit cards to everybody. 

[4MyEgo]

2 hours ago, Don Mega said:

55 days interest free.

Just another carrot, tell that to the masses who can't pay them off.

[Don Mega]

Just now, 4MyEgo said:

Just another carrot, tell that to the masses who can't pay them off.

My balance is auto payed on the 1st of every month. if those than cannot maybe they should cut their cards..

[4MyEgo]

1 hour ago, JaiLai said:

200-300 baht worth of vouchers with how much expendure??

We shop there every week, the way I see it is, if you have a Lotus card and swipe it, the points tally, no charge, and we are not into the more we spend the more we get, it is what it is, no card, no points sent in the mail, something better than nothing.

 

Sure beats using a credit card 555

[Weems Creek]

To the guys who have a Thai debit card, can you use it for online purchases? 

 

I'd like to get a debit card that I could use for occasional small purchases from Amazon.com.  

 

I'd appreciate anyone's ideas on this.  Thanks.

[4MyEgo]

2 minutes ago, Don Mega said:

My balance is auto payed on the 1st of every month. if those than cannot maybe they should cut their cards..

I dare say you are a rare and disciplined breed.

 

I would suggest peoples attitudes are different to your and my attitude, which would be, get what you can today, worry about it tomorrow.

 

Perhaps when and if ever people woke up to the fact that they are being fleeced, then the banks wouldn't be showing such large profits, to add, the banks then also came up with another great idea, the ATM, now to think the masses took the new savings/debit cards (for free), like children to ice-cream, with the suggestion being it will you save you time waiting in ques to withdrawals funds, (no mention of reducing tellers), only to move the goal posts a few years later, charging for withdrawals each time you used an ATM, I dare say, I didn't see a single sheep in the herd raise its head.

 

Fortunately there are some institutes that DON'T charge for ATM transactions, otherwise I would still have to be putting my cash under the mattress.  

[4MyEgo]

1 hour ago, chiang mai said:

UOB just offered me one with no strings attached, no tied up funds or anything, I haven't found the catch yet and indeed there may not be one.

There is always a catch, perhaps the interest rate they would charge you, maybe say 20% ?

[4MyEgo]

1 hour ago, Dan5 said:

Why not just use one of your debit cards. The ones you get when you open Thai bank accounts? I know there are rare exceptions where you might need a credit card instead of a debit, but in all the years I've been here, I've only run into that one time. Otherwise, Thai debit cards have worked fine for me.

I have an account back in Oz, I transfer funds to my Thai account through BahtSmart, as its a transfer, there is no charge at either end, did a transfer just yesterday @ 26.31 baht to the AUS$.

 

I then either do an on line transfer, for my house insurance for example, or use my debit card for purchasers in store, like HomePro or DoHome.

 

Credit cards are a trap, said it before, saying it again, but hey, each to their own 555

[4MyEgo]

1 hour ago, oilinki said:

What is the fee of paying with credit card?

 

Is there a sweet spot, which makes us paying less than paying with cash?

 

I guess banks have calculated these cost to be on their advantage. The reason they offer credit cards to everybody. 

If you don't pay back within say 55 days, days varies, you pay interest at around 20%, rate varies, I am sure.

[4MyEgo]

27 minutes ago, Weems Creek said:

To the guys who have a Thai debit card, can you use it for online purchases? 

 

I'd like to get a debit card that I could use for occasional small purchases from Amazon.com.  

 

I'd appreciate anyone's ideas on this.  Thanks.

Sure can, just check with your bank as I am sure they have to activate that feature on the card for you.