saintserge Posted October 8, 2018 Share Posted October 8, 2018 Hi guys, Anyone have recent experience with getting Credit Card from local bank for foreigners without WP and not on retirement. I’m non-o visa extensions here. I have history in kbank for about 4 years for monthly income (from my own company overseas) with > 100000฿ How you think can I apply or it’s hopeless?I want to build my own credit history here as I settle here for long time. If apply with deposit, will it helpful for building credit history? Thanks! Sent from my iPhone using Thailand Forum - Thaivisa mobile app Link to comment Share on other sites More sharing options...
Crossy Posted October 8, 2018 Share Posted October 8, 2018 AmEx certainly used to offer a "proper" (no deposit) credit card without a WP. I'm pretty sure all the other banks want a WP. I'm not sure if a "with deposit" card can help your credit history as I have a WP so all my Thai cards are no deposit. Link to comment Share on other sites More sharing options...
Ks45672 Posted October 8, 2018 Share Posted October 8, 2018 If you have significant funds on deposit they will bend all the rules and give you whatever you need.... They're only worried about you not paying them back Link to comment Share on other sites More sharing options...
Scottjouro Posted October 8, 2018 Share Posted October 8, 2018 7 hours ago, Ks45672 said: If you have significant funds on deposit they will bend all the rules and give you whatever you need.... They're only worried about you not paying them back Er no they are not only worried about paying them back, you need to pass a credit check for an unsecured CC, and considered "resident" by virtue of your WP The only real option the OP has is a secured credit card, ie its a proper CC with a limited secured against a fixed deposit with the bank concerned, ie if you want a card with a 100K limit, you will have to secure 100k cash with the bank who will lock into a fixed deposit account And before you say it, Thai banks are not the only ones who do this, i hold "significant funds" with a well known MNC bank in Singapore, and to obtain a Singapore based CC, i could only be issued with a secured CC as i an not a Singapore Citizen, permanent resident or work pass holder, should i ever go to live or work in Singapore, they said they would automatically change my card to unsecured The easiest way to build credit score in Thailand is either buy a car on terms Link to comment Share on other sites More sharing options...
saintserge Posted October 9, 2018 Author Share Posted October 9, 2018 The only real option the OP has is a secured credit cardHi Scottjouro,Do you know if there is a chance that bank can, eventually, increase limit above secured deposit?Sent from my iPhone using Thailand Forum - Thaivisa mobile app Link to comment Share on other sites More sharing options...
Ks45672 Posted October 9, 2018 Share Posted October 9, 2018 11 hours ago, Scottjouro said: Er no they are not only worried about paying them back, you need to pass a credit check for an unsecured CC, and considered "resident" by virtue of your WP The only real option the OP has is a secured credit card, ie its a proper CC with a limited secured against a fixed deposit with the bank concerned, ie if you want a card with a 100K limit, you will have to secure 100k cash with the bank who will lock into a fixed deposit account And before you say it, Thai banks are not the only ones who do this, i hold "significant funds" with a well known MNC bank in Singapore, and to obtain a Singapore based CC, i could only be issued with a secured CC as i an not a Singapore Citizen, permanent resident or work pass holder, should i ever go to live or work in Singapore, they said they would automatically change my card to unsecured The easiest way to build credit score in Thailand is either buy a car on terms Thsts how i got mine without deposits..... Link to comment Share on other sites More sharing options...
theoldgit Posted October 9, 2018 Share Posted October 9, 2018 20 hours ago, Crossy said: AmEx certainly used to offer a "proper" (no deposit) credit card without a WP. I'm pretty sure all the other banks want a WP. Likewise, my AmEx card was issued to me as a retiree, so no WP, without any need for a deposit. Mine was initially issued ten years ago, so things may have changed, I'd only been here for twelve months so no real local credit history. I was initially give a healthy credit limit which has been increased twice, I do use it a fair bit, grocery shopping, flights, hotels, major shopping items and the like, but clear the balance every month so no interest charges. There is an annual fee of 4,000 Baht though, however as the card is linked to my Thai Airways ROP I get ample points to balance out the annual fee. Link to comment Share on other sites More sharing options...
saintserge Posted October 9, 2018 Author Share Posted October 9, 2018 Thanks guys. Will check AmEx Отправлено с моего iPhone используя Thaivisa Connect Link to comment Share on other sites More sharing options...
Scottjouro Posted October 9, 2018 Share Posted October 9, 2018 1 hour ago, saintserge said: Hi Scottjouro, Do you know if there is a chance that bank can, eventually, increase limit above secured deposit? Sent from my iPhone using Thailand Forum - Thaivisa mobile app Nope because the premise of the card is a secured one, ie your limit will only ever be what you have on deposit with them, you will not build a credit score this way, as strictly speaking you have not been extended credit by the bank in the form of an "unsecured loan" Link to comment Share on other sites More sharing options...
Scottjouro Posted October 9, 2018 Share Posted October 9, 2018 53 minutes ago, theoldgit said: Likewise, my AmEx card was issued to me as a retiree, so no WP, without any need for a deposit. Mine was initially issued ten years ago, so things may have changed, I'd only been here for twelve months so no real local credit history. I was initially give a healthy credit limit which has been increased twice, I do use it a fair bit, grocery shopping, flights, hotels, major shopping items and the like, but clear the balance every month so no interest charges. There is an annual fee of 4,000 Baht though, however as the card is linked to my Thai Airways ROP I get ample points to balance out the annual fee. Amex is not a bank, and an Amex card strictly speaking is not a credit card, its a charge card...thats why you dont need a WP Link to comment Share on other sites More sharing options...
Crossy Posted October 9, 2018 Share Posted October 9, 2018 27 minutes ago, Scottjouro said: Amex is not a bank, and an Amex card strictly speaking is not a credit card, its a charge card...thats why you dont need a WP Possibly, but the card behaves like an actual credit card charging interest and having a credit limit and minimum payment. So, for the purposes of this discussion it's a credit card. Link to comment Share on other sites More sharing options...
paahlman Posted October 9, 2018 Share Posted October 9, 2018 Why should one need a credit card with all the costs on it when a debit card normally holds a master deposit card in it like all SCB cards. You can use it everywhere and online. Link to comment Share on other sites More sharing options...
gamini Posted October 9, 2018 Share Posted October 9, 2018 On 10/8/2018 at 1:33 PM, Ks45672 said: If you have significant funds on deposit they will bend all the rules and give you whatever you need.... They're only worried about you not paying them back according to my banking friend she told me that very many foreigners had previously disappeared without settling their credit card bills, so that's why it's harder nowadays. Link to comment Share on other sites More sharing options...
toolpush Posted October 9, 2018 Share Posted October 9, 2018 18 hours ago, Scottjouro said: Er no they are not only worried about paying them back, you need to pass a credit check for an unsecured CC, and considered "resident" by virtue of your WP The only real option the OP has is a secured credit card, ie its a proper CC with a limited secured against a fixed deposit with the bank concerned, ie if you want a card with a 100K limit, you will have to secure 100k cash with the bank who will lock into a fixed deposit account And before you say it, Thai banks are not the only ones who do this, i hold "significant funds" with a well known MNC bank in Singapore, and to obtain a Singapore based CC, i could only be issued with a secured CC as i an not a Singapore Citizen, permanent resident or work pass holder, should i ever go to live or work in Singapore, they said they would automatically change my card to unsecured The easiest way to build credit score in Thailand is either buy a car on terms I belive that most banks want double on deposit from what your "credit limit" will be. For instance if you need to have a limit of 100,000 baht, they will want 200,000 baht on secured deposit. That is the way it is with me and Bangkok Bank Link to comment Share on other sites More sharing options...
saintserge Posted October 9, 2018 Author Share Posted October 9, 2018 42 minutes ago, gamini said: according to my banking friend she told me that very many foreigners had previously disappeared without settling their credit card bills, so that's why it's harder nowadays. Yeah, not surprisingly, knowing one foreigner who didn't pay 15 months but still using car. I remember my first car was bought through TISCO ( on NON-O visa issued overseas, no even extension ) but year later they deny new applications for farangs. . Link to comment Share on other sites More sharing options...
Aussieroaming Posted October 9, 2018 Share Posted October 9, 2018 I got a KBank Wisdom Credit Card without WP last year. Just needed to open the Wisdom Account with fixed term deposit. Was already an account holder with Kasikorn. Link to comment Share on other sites More sharing options...
saintserge Posted October 9, 2018 Author Share Posted October 9, 2018 Nice but 10M฿ I don't have... Link to comment Share on other sites More sharing options...
YogaVeg Posted October 9, 2018 Share Posted October 9, 2018 5 hours ago, Scottjouro said: an Amex card strictly speaking is not a credit card, its a charge card What's the difference? Link to comment Share on other sites More sharing options...
Fairynuff Posted October 9, 2018 Share Posted October 9, 2018 46 minutes ago, toolpush said: I belive that most banks want double on deposit from what your "credit limit" will be. For instance if you need to have a limit of 100,000 baht, they will want 200,000 baht on secured deposit. That is the way it is with me and Bangkok Bank Not my experience with Krungsri Link to comment Share on other sites More sharing options...
theoldgit Posted October 9, 2018 Share Posted October 9, 2018 6 hours ago, Scottjouro said: Amex is not a bank, and an Amex card strictly speaking is not a credit card, its a charge card...thats why you dont need a WP Strictly speaking you're wrong, Amex do both credit and charge cards, mine is a credit card, and like Crossy's has a credit limit, a minimum repayment figure and an interest rate if the balance is not cleared every month and, prehaps most importantly, Amex describe my card as a credit card. I'm not too concerned if they aren't a bank. Link to comment Share on other sites More sharing options...
Ks45672 Posted October 9, 2018 Share Posted October 9, 2018 22 hours ago, Scottjouro said: Er no they are not only worried about paying them back, you need to pass a credit check for an unsecured CC, and considered "resident" by virtue of your WP The only real option the OP has is a secured credit card, ie its a proper CC with a limited secured against a fixed deposit with the bank concerned, ie if you want a card with a 100K limit, you will have to secure 100k cash with the bank who will lock into a fixed deposit account And before you say it, Thai banks are not the only ones who do this, i hold "significant funds" with a well known MNC bank in Singapore, and to obtain a Singapore based CC, i could only be issued with a secured CC as i an not a Singapore Citizen, permanent resident or work pass holder, should i ever go to live or work in Singapore, they said they would automatically change my card to unsecured The easiest way to build credit score in Thailand is either buy a car on terms At another zero and maybe they be more friendly Link to comment Share on other sites More sharing options...
Time Traveller Posted October 9, 2018 Share Posted October 9, 2018 Why do you want to build a credit history in Thailand? Credit history is meaningless if you can't borrow. And if you don't have a work permit, you can't borrow. I guess you could put money into a fixed and locked account with a bank then they could issue credit card based upon the secured funds, but that's not really credit. Seems like a pointless exercise. Link to comment Share on other sites More sharing options...
tropo Posted October 9, 2018 Share Posted October 9, 2018 On 10/8/2018 at 9:14 PM, Scottjouro said: Er no they are not only worried about paying them back, you need to pass a credit check for an unsecured CC, and considered "resident" by virtue of your WP The only real option the OP has is a secured credit card, ie its a proper CC with a limited secured against a fixed deposit with the bank concerned, ie if you want a card with a 100K limit, you will have to secure 100k cash with the bank who will lock into a fixed deposit account And before you say it, Thai banks are not the only ones who do this, i hold "significant funds" with a well known MNC bank in Singapore, and to obtain a Singapore based CC, i could only be issued with a secured CC as i an not a Singapore Citizen, permanent resident or work pass holder, should i ever go to live or work in Singapore, they said they would automatically change my card to unsecured The easiest way to build credit score in Thailand is either buy a car on terms You can buy a car on terms without a credit score? Link to comment Share on other sites More sharing options...
theoldgit Posted October 10, 2018 Share Posted October 10, 2018 5 hours ago, Time Traveller said: Why do you want to build a credit history in Thailand? Credit history is meaningless if you can't borrow. And if you don't have a work permit, you can't borrow. Whilst that may be true in the majority of cases, it's not the case for everyone. I've never worked in Thailand, so no Work Permit, I've always been here on an extension of stay based on retirement, I've had a loan to purchase a car without any sort of guarantor or counter signature, and was offered a credit card account in my own name without any deposit, which has had a number of credit increases over the years, the last increase being last month. I automatically get an annual report of the information supplied to the credit bureau, and further reports when there is a change of circumstances, like a change of address or last months credit limit increase. Link to comment Share on other sites More sharing options...
NCC1701A Posted October 10, 2018 Share Posted October 10, 2018 17 hours ago, toolpush said: I belive that most banks want double on deposit from what your "credit limit" will be. For instance if you need to have a limit of 100,000 baht, they will want 200,000 baht on secured deposit. That is the way it is with me and Bangkok Bank not my experience at Bangkok Bank. my limit is the same as the money in the secured account. Maybe you should ask about that. Link to comment Share on other sites More sharing options...
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