Getting a Thai Credit Card

[4MyEgo]

6 hours ago, BruceMangosteen said:

 

I have my doubts about this. Can you kindly support your assertion with some references i.e. where you rented a car from Avis using a debit card? Thanks and regards. 

No problem, Avis Sydney, Australia.

 

Please read top line of the terms and conditions in the link attached: https://www.avis.com/car-rental/content/display.ac?contentId=step4-prepay-TnC-US_en-020931

 

I trust this supports my claim, have rented cars from Avis on a few occasions, without a hick up using a debit card, further to that when I travel back to OZ in May, I have taken travel insurance with an option to increase the rental car excess/waiver damage in the even of an accident, because most travel insurers will only cover you for $2,000 standard, and the rental car excess/waiver damage is around $4,000. So the increase on the policy for about $100 is worth it to me, just in case in the even of an accident.

[4MyEgo]

6 hours ago, theoldgit said:

 

So we seem to agree on the major benefit of a credit card for most people, convenience.

No, I still see them as a trap for the masses, i.e. why do Australians for example have a credit card debit of $32,000,000 (billion), because they are all hooked on them, like ice, convenience, for sum, not "most".

 

My whole point is if you have money, you do not require a credit card, unless you like the way the point system works, but when you break it down, you will be spending a hell of a lot of money to gain the points, but if you are disciplined and can pay the amount borrowed each time before the due date and you are not paying any annual fees, then why not,  but why even look at one, ok you say convenience for you and others on this post, but I believe I also have a relevant point, having stated that they are a trap for the masses, and I have only seen a few TV members agree.

[4MyEgo]

6 hours ago, JimmyJ said:

"...you will be lucky to find one rental car company that will accept a debit card...why, they are in bed with the banks..."

 

 

No, it's because they pay a cheaper rate when accepting the credit card over debit card.

 

The same reason Amazon has "pinless debit card processing", it lets them get the credit card merchant fee rather than the debit.

 

(The above is based on what I've read online in a credit card related forum)

 

I do agree with you that the interest rates for those who don't pay monthly is legal usury.

So what you are saying is that if a company accepts a debit card over a credit card they gets charged a higher fee by the bank, if that's the case I would call that being in bed with the banks, i.e. if a company is big enough like Hertz, Avis to mention but 2, then they should be able to bring the rate in line to be equal, as I am sure the process is pretty much the same. My point being if the banks charge a higher rate on debit cards, that's criminal and they are dictating to the company's which card they should accept because its a cheaper rate.

 

We have all been missing the bigger picture IMO though, i.e. the interest rates that they charge on the credit cards, (for your convenience), if you have savings in your account, you will earn e.g. 1% - 2.75% depending in which country you have your money deposited in, and these farkers charge you up to 20% and in some instances an annual fee, (no annual fee in Thailand I have read), just the shear thought of the interest charge is enough to put me off, even knowing that I would be paying the money back on time, however warranty cover on items purchased, travel insurance and other things people have mentioned would be beneficial, depending on the cover, but still not something I would want, but that is just my opinion, take our money, give us a measly return % wise and give it back to us @ 10 or 15 X's, for the convenience, no thanks 555 

 

 

Edited February 19, 2017 by 4MyEgo

[BruceMangosteen]

3 hours ago, 4MyEgo said:

 

We have all been missing the bigger picture IMO though, i.e. the interest rates that they charge on the credit cards, 

 

 

Your point is obvious. People pay the huge interest rate because they can't borrow elsewhere on short notice and in fact, may not have the money. It gives them time to pay the money back, if at all. You don't factor in the default rate with your claim the interest is outlandish. In the USA this was around four percent. Yes, four percent of the amount charged was not paid back. 

[jacobsladder]

Hey guys, I just want a credit card to pay for flights on line, that's it. I don't need them for hotels. Increasingly Expedia will allow you to pay on arrival. It's just the flight thing. I'll look into getting my debit card activated for on line use. Thanks.

 

Wife applied for a Tesco credit card today. Fingers crossed.

[BruceMangosteen]

35 minutes ago, jacobsladder said:

It's just the flight thing. I'll look into getting my debit card activated for on line use. Thanks.

 

 

Didn't see this issue above, but too lazy to read back. It won't work if the expire date is way out, as is the case with Thai issued cards, no matter what the bank  says or does. The online merchants including airlines don't have the dates in their system. I assume however this system is outsourced. Bangkok Air's system approves some debit cards FYI. 

[Don Mega]

6 hours ago, BruceMangosteen said:

 

Didn't see this issue above, but too lazy to read back. It won't work if the expire date is way out, as is the case with Thai issued cards, no matter what the bank  says or does. The online merchants including airlines don't have the dates in their system. I assume however this system is outsourced. Bangkok Air's system approves some debit cards FYI. 

Does Bangkok air accept debit cards that dont have the persons name on the card ?

[BruceMangosteen]

3 hours ago, Don Mega said:

Does Bangkok air accept debit cards that dont have the persons name on the card ?

I've not used that card so don't know. Those without your name also seem to have the far out expire date which as mentioned isn't possible to input etc.. The debit card I use with Bangkok Air is from a bank in the USA. Cheers mate and God Bless You. 

[Don Mega]

1 minute ago, BruceMangosteen said:

I've not used that card so don't know. Those without your name also seem to have the far out expire date which as mentioned isn't possible to input etc.. The debit card I use with Bangkok Air is from a bank in the USA. Cheers mate and God Bless You. 

 

Just checked my visa debit card, it expires 6/21 and was issued last year. I thought as 5 year expiry was normal.

 

Name on card is "privileged Member ".

 

Not really matters though I use my credit card, just curious is all.

[BruceMangosteen]

5 minutes ago, Don Mega said:

 

Just checked my visa debit card, it expires 6/21 and was issued last year. I thought as 5 year expiry was normal.

 

Name on card is "privileged Member ".

 

Not really matters though I use my credit card, just curious is all.

Two years is normal for a Credit Card. I don't recall how far out the Bangkok Air system went but it was short of my expire date on my Thai Debit card. I agree with you, curiosity is the motivation for knowing, but also to plan for emergencies i.e. health care etc.. I doubt a card without your name would be accepted for hospital charges(anticipated, by the hospital treating your emergency) but I don't know. 

[Classic Ray]

I applied to Bangkok Bank when I opened my account with them, they insisted on a 100,000 baht deposit for a 100,000 credit limit, I have to pay it off each month. Their processing took nearly three  months and about fifty signatures before the card arrived, all the time they were using my money of course.

 

I think like most Thai banks they are stuck in the 19th century, everything has to be done with queueing, personal visits, lots of paperwork, even though they boast internet banking. I must say transferring money in is much quicker than it was with Kasikorn, who kept wanting to hang on to it for days even after it had arrived before depositing it in my account.

 

I know all the banks got burnt in the 1997 financial crisis, so they don't trust foreigners who could skip the country with maxed out cards, but that could happen in any country, they need to grow up. 

[mike324]

On 2/18/2017 at 8:31 PM, BruceMangosteen said:

Inquired at KTB and got a low limit VISA card which I topped up 200,000.Baht.

 

As some don't know, you can't use a VISA Debit card to rent a car in at least the USA. Has to be an actual credit card.

 

K-Bank only did secured VISA, 30,000.Baht min..

 

The KTB was set up for direct debit of the min payment(ten percent) should one be needed on the credit aspect.

 

No SMS service offered on everyday transactions at KTB. Major, which I think they deem 10,000.Baht up, do trigger an SMS notification.

 

God Bless You. Some people just don't grasp that an actual Credit Card also gives you dispute/theft protection. Always better to be discussing a dispute/theft when the bank is also involved credit wise. In the case of Debit cards you won't get the money back while it's resolved.

 

I have used my Visa Debit to rent a car in the US numerous times. 

[mike324]

Whats great about Thailand is that if you miss your payment, you can always ask them to waive the interest fee.  Been a credit card owner here for over 20 years, have late payments around once a year due to travel, they have always waive the interest charge. I was 3 months late this year, SCB waived the interest. You just have to call up customer service.

 

For those that can't keep your finances straight, then too bad, credit card is not for you no need to bash credit cards / users.

 

 

[Don Mega]

Just now, mike324 said:

Whats great about Thailand is that if you miss your payment, you can always ask them to waive the interest fee.  Been a credit card owner here for over 20 years, have late payments around once a year due to travel, they have always waive the interest charge. I was 3 months late this year, SCB waived the interest. You just have to call up customer service.

 

For those that can't keep your finances straight, then too bad, credit card is not for you no need to bash credit cards / users.

 

 

3 months late on a payment ?

 

Maybe  its time for you to cut up the cards.

[mike324]

4 minutes ago, Don Mega said:

3 months late on a payment ?

 

Maybe  its time for you to cut up the cards.

 

Well I did say I was travelling....why the need to cut up the cards if the banks can do the favor and simply waive the fee...some just don't know how to play things in their favor

[Don Mega]

7 minutes ago, mike324 said:

 

Well I did say I was travelling....why the need to cut up the cards if the banks can do the favor and simply waive the fee...some just don't know how to play things in their favor

Id prefer to just pay the cards on time than beg the bank to waive fee's.

 

but each to their own I guess.

[Henryford]

I would never use a credit card in Thailand anyway, too risky. If you have the cash use cash or a debit card.

[Don Mega]

4 minutes ago, Henryford said:

I would never use a credit card in Thailand anyway, too risky. If you have the cash use cash or a debit card.

Yeah I prefer not to pull bundles of cash from an ATM. out of all my monthly purchases less than 2000b would be made with cash, Credit card is much more convenient.

[mike324]

4 minutes ago, Don Mega said:

Id prefer to just pay the cards on time than beg the bank to waive fee's.

 

but each to their own I guess.

 

well, I didn't need to beg .... its my fault for paying late, I simply asked them to waive it and they say they will open and submit the case for return credit.

 

[fletchsmile]

If you are working shouldn't be a big deal to get a credit card. 

 

Common requirements for a foreigner:

- often higher income level than Thais - think THB 75k+ per month 

- work permit

- longer stay visa, i.e not just 30 days on arrival or tourist

- 6 months of bank statements showing your Thai income

 

Meet those, apply and you would very likely get one.

 

Different banks have different policies though and conditions vary even across different branches of the same bank. Banks also use internal scorecards to assess your credit worthiness. Relationships with your bank are important too, including length of time with your bank

 

It is possible to get a credit card without meeting all those criteria, as they are just bank policies, not regulatory requirements. Just reduces your chances. 

 

The other method as mentioned above is put down a fixed deposit, and get a matching credit limit. In addition to the points above, this suits some people who use the fixed deposit for their visa: marriage (400k)/ retirement (800k) etc and never use the money anyway, but just keep the money to show immigration. Meanwhile they have a card they card use.

 

Cheers

Fletch :)

[chiang mai]

2 hours ago, Henryford said:

I would never use a credit card in Thailand anyway, too risky. If you have the cash use cash or a debit card.

I've been using credit cards in Thailand for fifteen years without a single problem.