Wisdom Credit Card

[Aussieroaming]

My wife and I are weighing up the pros of getting a wisdom Credit Card each, primarily for the priority pass and fitness center access. Does anyone have an idea of which fitness centers are involved and how many visits are applicable. Pointless getting the cards for a couple of free visits as we already have other credit cards, but if the privileges are acceptable then it seems a decent card choice.Thanks

[orientalist]

Probably the same fitness centres as the Premier card, which are listed in the Lifestyle section of their 2017 brochure:

http://www.kasikornbank.com/TH/Personal/The_Premier/Privilege/Documents/THEPREMIERPrivilegeBook2017.pdf

 

The visits are unlimited in number but there are conditions at each centre. At True Fitness (now closed) you had to be out by 5pm. At the one at Pathumwan Princess hotel they take only the first 50 Wisdom/Premier card-holders per day. If you are no. 51 you have to pay the regular visit fee. You can ask the call centre for details or ask at a Wisdom Lounge.

[HampiK]

And why you not only take the Wisdom card anyway?

So far I not see any disadvantages in it.

 

The Priority Pass is a very nice additional gift and if you like the fitnes it would also help. And there are further advantages in the card....

So what is the contra that you maybe not want to take the card?

Edited August 3, 2017 by HampiK

[Aussieroaming]

8 hours ago, orientalist said:

Probably the same fitness centres as the Premier card, which are listed in the Lifestyle section of their 2017 brochure:

http://www.kasikornbank.com/TH/Personal/The_Premier/Privilege/Documents/THEPREMIERPrivilegeBook2017.pdf

 

The visits are unlimited in number but there are conditions at each centre. At True Fitness (now closed) you had to be out by 5pm. At the one at Pathumwan Princess hotel they take only the first 50 Wisdom/Premier card-holders per day. If you are no. 51 you have to pay the regular visit fee. You can ask the call centre for details or ask at a Wisdom Lounge.

thanks, thats what i needed to know

[Aussieroaming]

8 hours ago, HampiK said:

And why you not only take the Wisdom card anyway?

So far I not see any disadvantages in it.

 

The Priority Pass is a very nice additional gift and if you like the fitnes it would also help. And there are further advantages in the card....

So what is the contra that you maybe not want to take the card?

No real disadvantage except locking up 20M baht for 6 months to get 2 cards, i don't like locking my money into a bank scheme. My wife has ordered her card and i was just weighing up whether i should get one or not. The priority card is good for my wife as she likes to save her money and fly economy class, whereas i rarely fly eco because all of my work flights are generally business class and i rarely travel on my time off. So for me the only benefit seemed to be free fitness club access. Plus I have a theory that nothing in life is free, even if they try to market things as "privileges".

[orientalist]

Go for the Premier card if you just want free gyms. You only need to deposit 2 million. A few years ago K-Bank had some good promotions for fixed deposit accounts, but not anymore. I withdrew my 2 mil from the bank about a year after getting the card, but - despite what they had told me - they still renewed it 3 years later.

[HampiK]

3 hours ago, Aussieroaming said:

No real disadvantage except locking up 20M baht for 6 months to get 2 cards, i don't like locking my money into a bank scheme. My wife has ordered her card and i was just weighing up whether i should get one or not. The priority card is good for my wife as she likes to save her money and fly economy class, whereas i rarely fly eco because all of my work flights are generally business class and i rarely travel on my time off. So for me the only benefit seemed to be free fitness club access. Plus I have a theory that nothing in life is free, even if they try to market things as "privileges".

 

OK, i was assuming you already had some money in the Kasikorn Accounts. Of course this could be an disadvantage if you not want to look up some money.

 

On the other side, I have to say that many are much better off to put their money in an Kasikorn Deposit Account with about 1.4-1.7% Interest. If you not good about stock exchange or something I doubt that you can make easily more than this 1.7% without some risks. And we have to be clear that most people are not able to make the right decisions.

But even then 1 disadvantage still could be... if you not trust the Thai banks... on the other side who tell you that banks in US, Europe or somewhere are really that much better?

[Aussieroaming]

1 hour ago, HampiK said:

 

OK, i was assuming you already had some money in the Kasikorn Accounts. Of course this could be an disadvantage if you not want to look up some money.

 

On the other side, I have to say that many are much better off to put their money in an Kasikorn Deposit Account with about 1.4-1.7% Interest. If you not good about stock exchange or something I doubt that you can make easily more than this 1.7% without some risks. And we have to be clear that most people are not able to make the right decisions.

But even then 1 disadvantage still could be... if you not trust the Thai banks... on the other side who tell you that banks in US, Europe or somewhere are really that much better?

We have more than enough in our KBank account to get the cards but it isnt quite that simple. We have to transfer the money from our existing joint account into a separate wisdom joint account and then that 20M remains frozen for 6 months. 

[HampiK]

2 minutes ago, Aussieroaming said:

We have more than enough in our KBank account to get the cards but it isnt quite that simple. We have to transfer the money from our existing joint account into a separate wisdom joint account and then that 20M remains frozen for 6 months. 

OK, that's new to me.... And I was not aware of this special requirement.

 

[speedtripler]

On 04/08/2017 at 2:08 PM, Aussieroaming said:

We have more than enough in our KBank account to get the cards but it isnt quite that simple. We have to transfer the money from our existing joint account into a separate wisdom joint account and then that 20M remains frozen for 6 months. 

You are right in that nothing is actually free.... 

The bank will obviously make money from your 20mil so it would probably be cheaper to invest the 20mil in something that pays decent rates and pay for a gym membership 

Shouldn't be too hard to calculate if you phone the gym and ask them how much it costs per  visit/monthly /yearly and then from there you can see if the "privileges" are worth it... (I doubt they will be) 

[HampiK]

2 hours ago, speedtripler said:

You are right in that nothing is actually free.... 

The bank will obviously make money from your 20mil so it would probably be cheaper to invest the 20mil in something that pays decent rates and pay for a gym membership 

Shouldn't be too hard to calculate if you phone the gym and ask them how much it costs per  visit/monthly /yearly and then from there you can see if the "privileges" are worth it... (I doubt they will be) 

The problem till now nobody could really gave an advice to make more than 1.5 or 2% interest without a risk (of course a bank account is a risk too but a much smaller risk than with bonds or something I know off)

 

[speedtripler]

10 hours ago, HampiK said:

The problem till now nobody could really gave an advice to make more than 1.5 or 2% interest without a risk (of course a bank account is a risk too but a much smaller risk than with bonds or something I know off)

 

1.5-2% of 20 mil is still probably much more than the gym costs..... 

 

2% of 20mil is 400k or 800k for both of you

Thai Gyms cost about 1500thb a month I think

 

Pay them in cash and save the 385k each? 

 

[Aussieroaming]

23 minutes ago, speedtripler said:

1.5-2% of 20 mil is still probably much more than the gym costs..... 

 

2% of 20mil is 400k or 800k for both of you

Thai Gyms cost about 1500thb a month I think

 

Pay them in cash and save the 385k each? 

 

not really sure what you are getting at here. The interest on the Wisdom account is more than our current account, i think the interest is about 0.75% on our joint account but the Wisdom card is 1.5% interest and card cost is "free" (nothing in life is free) for 3 years. so the interest rate is double what we currently get. Gym cost depends on what gym you go to but free is better than 1500 baht/month for example. I really just wanted to know which gyms participated and what restrictions there were, which was answered earlier. I will just buy a gym membership because i dont want to turn up and get knocked back as member number 51.

[Aussieroaming]

On 8/4/2017 at 11:26 AM, HampiK said:

 

OK, i was assuming you already had some money in the Kasikorn Accounts. Of course this could be an disadvantage if you not want to look up some money.

 

On the other side, I have to say that many are much better off to put their money in an Kasikorn Deposit Account with about 1.4-1.7% Interest. If you not good about stock exchange or something I doubt that you can make easily more than this 1.7% without some risks. And we have to be clear that most people are not able to make the right decisions.

But even then 1 disadvantage still could be... if you not trust the Thai banks... on the other side who tell you that banks in US, Europe or somewhere are really that much better?

My wife has about 5 or 6 M invested in the SET, some of which has been locked up for a couple of years when the share prices dropped. She does manage to generate enough cash flow to cover our yearly living expenses , but if she had to cash out and drop money on the shares that she is stuck on then who knows if she would be cash positive. She did well for a couple of years but the last 2 havent been stella, but she does have fun buying and selling shares though, so good for her. I don't pay too much attention to it, but i know she has been recycling shares a fair bit on the ones that are actively moving (buy,sell,buy,sell type transactions)

[speedtripler]

It all depends on your level of risk tolerance 

I don't mind higher risks for higher rewards for anil allocated portion of my funds but I have my overheads covered so I ain't gonna go broke if any investment goes through a bad patch

[HampiK]

1 hour ago, Aussieroaming said:

not really sure what you are getting at here. The interest on the Wisdom account is more than our current account, i think the interest is about 0.75% on our joint account but the Wisdom card is 1.5% interest and card cost is "free" (nothing in life is free) for 3 years. so the interest rate is double what we currently get. Gym cost depends on what gym you go to but free is better than 1500 baht/month for example. I really just wanted to know which gyms participated and what restrictions there were, which was answered earlier. I will just buy a gym membership because i dont want to turn up and get knocked back as member number 51.

 

You write the the cost for the Wisdom card is free for 3 years? I was thinking this is free as long you have enough money in the account. I have one since about 7 years and never had to pay anything for the card. I know in some brochure there is a yearly fee written.

At the moment the lowest interest I have with Kasikorn is 1.45% the highest I still have is more than 2%.

0.75% or maybe lower I only have on my transaction account which not hold that much money.... 20 Million I always would put on an account with at least 1.4%

[HampiK]

2 hours ago, speedtripler said:

1.5-2% of 20 mil is still probably much more than the gym costs..... 

 

2% of 20mil is 400k or 800k for both of you

Thai Gyms cost about 1500thb a month I think

 

Pay them in cash and save the 385k each? 

 

I think you misunderstand. He should earn 1.5% on his 20 million and become the card....

It's not like that he earn nothing in the account!

[speedtripler]

3 minutes ago, HampiK said:

I think you misunderstand. He should earn 1.5% on his 20 million and become the card....

It's not like that he earn nothing in the account!

He had already clarified his position in a previous post... 

What is your first language btw? 

(I don't think he wants to "become the card") 

[HampiK]

6 minutes ago, speedtripler said:

He had already clarified his position in a previous post... 

What is your first language btw? 

(I don't think he wants to "become the card") 

My first language is swiss-german. I only want to point out, that on the Account he should make the 1.5 - 2% and for people who complain about the looked amount this only make sense, if you really earn more than this 1.5- 2% interest with something else which also has a small risk.

[lannarebirth]

I'm not going to suggest to you what you should do, but if I told anyone I know that I tied up 20 million baht so I could could get into the gym free they would mock me mercilessly; and not without reason.

Edited August 6, 2017 by lannarebirth

[JohnLick]

Invest the money in meaningful way and pay for the <deleted>$ng gym from the profits

 

Opportunity cost... someone?

[Aussieroaming]

6 hours ago, lannarebirth said:

I'm not going to suggest to you what you should do, but if I told anyone I know that I tied up 20 million baht so I could could get into the gym free they would mock me mercilessly; and not without reason.

So what's the difference with leaving in my existing account or moving to the wisdom account and earning higher interest and a free membership? Either way I'm not going to spend it during the 6 months. I'm not the sort of bloke who gives a rats ass if someone mocks me, if you are then no dramas. I would rather save a buck that spend money because I was worried about some internet slagging.

[speedtripler]

23 hours ago, Aussieroaming said:

So what's the difference with leaving in my existing account or moving to the wisdom account and earning higher interest and a free membership? Either way I'm not going to spend it during the 6 months. I'm not the sort of bloke who gives a rats ass if someone mocks me, if you are then no dramas. I would rather save a buck that spend money because I was worried about some internet slagging.

I think he's saying a gym costs peanuts compared to the capital you're locking up to use it... 

 

The best interest rate is all you need to worry about, not the "benefits"