Obtaining a Credit Card in Thailand

[wgdanson]

6 hours ago, Ks45672 said:

Safe online shopping with fraud protection 

Hotel booking and car rentals  

Unexpected Medical emergency services 

Free cash withdrawal from national and international atms 

Small % cashback each month

Builds your credit score

Airmiles and other free gifts

10-30% off some restaurants if you pay with card xyz etc

 

There is more upsides than downsides to be honest

 

(there is no "expensive interest" on the credit as long as you pay it back by the agreed date in full BTW) 

 

A few more benefits I forgot from https://www.investopedia.com/articles/personal-finance/050214/credit-vs-debit-cards-which-better.asp :

 

Advantage: Credit Cards

Rewards. Credit card users can reap cash, discounts, travel points and many other perks unavailable to debit card holders by using rewards cards. Smart consumers who can pay off their cards in full and on time every month can profit substantially by running their monthly purchases and bills through them.

Credit scores. Credit card use is also reflected on the customer’s credit report, which allows responsible spenders to raise their scores with a history of timely payments.

 

Warranties. Credit cards can also provide additional warranties or insurance for items purchased that may exceed those of the retailer. If an item bought with a credit card becomes defective after the manufacturer’s warranty has expired, for example, it's worth checking with the card company to see if it will provide coverage.

Legal protection. These are also notably different, with credit cards offering more security.

Liability for lost or stolen cards. Credit cards still offer much greater protection in most cases. As long as the customer reports the loss or theft in a timely manner, his/her maximum liability for purchases made after the card disappeared is $50. The Electronic Funds Transfer Act gives debit card customers the same protection from loss or theft – but only if the customer reports it within 48 hours of discovery. After 48 hours, the customer’s liability rises to $500; after 60 days there is no limit.

Disputing transactions. The Fair Credit Billing Act allows credit card users to dispute unauthorized purchases or purchases of goods that are damaged or lost during shipping. But if the item was bought with a debit card, it cannot be reversed unless the merchant is willing to do so. What's more, debit card victims don't get their refund until due process has been completed. Credit card holders, on the other hand, are not assessed the disputed charges; the amount is usually deducted immediately, and restored only if the dispute is withdrawn or settled in the merchant's favor. While some credit and debit card providers offer zero-liability protection to their customers, the law is much more forgiving for credit card holders.

Car rentals. If you need to rent a car, most credit cards provide some sort of waiver for collisions. Even if you want to use a debit card, many car rental agencies require customers to provide credit card information as a backup. The only way out for a customer may be allowing the rental agency to put a hold of perhaps a few hundred dollars on his or her bank-account debit card as a form of suretydeposit.

 

Do all these benefits come with a THAI Credit Card please?

 

[Thailand J]

Thai or US credit cards, I would rather have one in my pocket and don't need it than the opposite.

On 8/30/2018 at 9:14 AM, wgdanson said:

Do all these benefits come with a THAI Credit Card please?

 

Edited August 31, 2018 by Thailand J

[marko kok prong]

Krung Thai bank almost begged me to have a credit card,but then after my huge profit from our gold prospecting trip in New Guinea,and income from investment and the like i was unsurprised,hardly used it though,mostly you can pay with debit cards these days.

[Techno Viking]

12 minutes ago, marko kok prong said:

Krung Thai bank almost begged me to have a credit card,but then after my huge profit from our gold prospecting trip in New Guinea,and income from investment and the like i was unsurprised,hardly used it though,mostly you can pay with debit cards these days.

secured or unsecured?

[singburisam]

I'll piggy-back on this thread to ask a related question.

 

One of the bank branches in our Province has closed, supposedly due to lack of customers though the two remaining branches of that bank (not BKKBank) have long queues to get service.  Our local branch of Bangkok Bank is afraid that they will also be shut down.  This would be inconvenient for us, especially since we have built up a relationship with the officers at this branch.

 

The bank branch telephoned my wife and asked her to get a Credit Card.  We don't even want one: we use the Debit Card.  But the people who want a credit card can't get one, so the bank is trying to give them to people who don't want them but will pass their thresholds.  The bank said we could cancel the card soon after we get it -- they just want to issue a card for their stats.

 

As is the Thai way, my wife agreed to "help" the bank. 5555. 

 

My questions:  Is it true branches are closing (due to alternatives like e-commerce)?  Is it possible that we are somehow being scammed?  If we get a credit card, will we also need an online account so we can check periodically for incorrect (or hijacked) charges?

[kkerry]

1 hour ago, singburisam said:

My questions:  Is it true branches are closing (due to alternatives like e-commerce)?

Don't know about Bangkok Bank, but last year SCB announced plans to close more than half of their branches.

 

 

 

[Millian]

On 8/30/2018 at 9:14 AM, wgdanson said:

Do all these benefits come with a THAI Credit Card please?

 

 I know 'Disputing transactions' does, least with Citi cards. I had a yearly sub to an app I had forgot about, rang citi and said I hadn't used it in past year, 2 weeks later the amount was credited back.