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2 minutes ago, Pib said:

It's not written in stone (like a law) to where every Thai bank will follow to the letter as there will be exceptions. You will see posts from retired/non-working farangs who did get "unsecured" credit cards....maybe because they knew the right person....but such folks are the exception. 

 

But getting a "secured" card is generally easy....put up the locked deposit as collateral and you should be good to go....but if the bank you are applying to is generally not farang friendly...just prefers to not have farang customers (but they will never admit that), you may not even be able to get a secured credit card. 

Just called my bank. Said I can apply at any branch and she seemed to suggest it shouldn't be a problem. She also said that the security money only has to be the same as the credit limit, not double, but said it has to stay in the acc for 12 months. Cheers.

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Posted (edited)

What are the guarantees on a Thai CC for fraud protection?

My home country cards have been used a couple of times there over the years fraudulently.

One time I ate at a restaurant, used the card to pay, and the next day $4,000 of airline tickets were purchased.

When I called they took it off my bill immediately and told me nothing would be done.  Only if it is over $10,000 is there an investigation.

So, what would they do here?  I doubt it would be so easy and probably make you investigate/show proof yourself that it was a fraud.  Good luck doing that.

Edited by bkk6060
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6 minutes ago, Keyser Soze666 said:

Just called my bank. Said I can apply at any branch and she seemed to suggest it shouldn't be a problem. She also said that the security money only has to be the same as the credit limit, not double, but said it has to stay in the acc for 12 months. Cheers.

And staying in the acct for 12 months will probably not mean that after 12 months you can withdraw the money and continue to use the card; the rep may have meant the deposit would be made in the form of a 12 month fixed deposit which would continue to roll over into another 12 month fixed deposit as long as you keep the credit card.  And you deciding to cancel the card would not mean you would have to wait until the end of the 12 months to withdraw your money....it just means you lose some to all interest earned. 

 

The fine print of the deposit will vary among banks/card issuer....but I wouldn't plan on being able to withdraw the funds after 12 months and still be able to keep the card without collateral/locked deposit.   

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It is not a matter of trust.  It is the bank protecting their assets as a results of years of experience...

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43 minutes ago, samsensam said:

 

that appears to be fairly common experience/knowledge regarding banks, the oft repeated advice is if you dont get what you want with one bank employee/branch or bank simply try another bank employee/branch or bank until you do. works for me.

It's true about everything in Thailand. Thailand is consistently inconsistent. You might even get a different answer at the same bank branch from a different account rep. Likely, actually. 

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For online shopping I use M-Card. I just do an in-out method. I transfer the amount from SCB to M-Card, then use M-Card on line.

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Here's an example/requirements to get a Krungsri Bank "secured" credit card. 

 

https://www.krungsricard.com/en/Product/CreditCard/Exclusive/Krungsri-Visa-Platinum.html

 

Quote

 

For Credit Card with Deposit Pledge
Enjoy the credit card that does not require a minimum income declaration from you. Simply open Krungsri Saving account to be pledged for secured credit card. Variety of Krungsri’s credit card privileges and benefits line up for you.

Qualifications:
• For foreigner, residence and mailing address in Thailand are required
• Open Krungsri savings account / time deposit account.
• Deposit money into Krungsri account (Credit Line 90%) and complete deposit pledge form THB 40,000

Required Documents
• A copy of Passport. (Please submit completed application and documents at any Krungsri Branch)
• Deposit pledge form.
• Branch print screen of seizing deposit account page.

 

 

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14 minutes ago, Pib said:

And staying in the acct for 12 months will probably not mean that after 12 months you can withdraw the money and continue to use the card; the rep may have meant the deposit would be made in the form of a 12 month fixed deposit which would continue to roll over into another 12 month fixed deposit as long as you keep the credit card.  And you deciding to cancel the card would not mean you would have to wait until the end of the 12 months to withdraw your money....it just means you lose some to all interest earned. 

 

The fine print of the deposit will vary among banks/card issuer....but I wouldn't plan on being able to withdraw the funds after 12 months and still be able to keep the card without collateral/locked deposit.   

Tbh I fully assumed it would work the way you have said. As for losing any possible interest, if say the card/deposit was for 50k it wouldn't be worth having anyway.

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Posted (edited)
1 hour ago, Crossy said:

 

Sadly no unsecured card then. At one time AmEx were doing unsecured credit cards for non workers, it may be worth talking to them.

 

 

 

I tried to get A Thai Airways Amex card, got a nice personalized rejection letter. I have had a AMEX card in the US twenty years. Huge credit line unsecured. Your credit rating and job in your own country appears to mean nothing.

 

So what is to stop a foreigner in his own country from maxing out his cards and credit lines and running off to Thailand? Or say he finds out he has an incurable disease then maybe run up huge debts before and then just snuff it?

Edited by Captain Monday

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I have 3 Kasikorn credit cards for 10 years now, Platinum, Spouse and Wisdom

I got the 3rd credit card because I wanted a Bank Safety deposit box, the only was I could get it was to sign up for a 3rd credit card (Wisdom) with a life insuarnce plan with MTL.

I work offshore, variuos countries, but did work in Thailand about 15 years ago.

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8 minutes ago, Captain Monday said:

I tried to get A Thai Airways Amex card, got a nice personalized rejection letter. I have had a AMEX card in the US twenty years. Huge credit line unsecured. Your credit rating and job in your own country appears to mean nothing.

 

Yeah, they called me. At the time I was travelling a lot on the company dime and racking up the miles on my ROP card, evidently they wanted in on my not insignificant spend. I paid for 3 months of hotel in Singapore on the card, so they got their wish.

 

Citi were similar, they called me, handy actually coz theirs is one of the few credit cards accepted by Makro and I get 12% cashback on fuel at PTT.

 

SCB offered me a card (actually offered us a pair of cards) when we re-financed our mortgage with them, evidently the credit check came back good.

 

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I have a card in my name on the wife's  account. It took the present situation  for her to realise that having no savings and 6 credit cards was not the way to go. We are now down to 1 with a 0 balance 😄

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I'm not in the market for a credit card here.  As another member said, between having the same amount locked away as security, then fees and interest for using the bank's money instead of your own, only to pay the card off with your own money, defeats the purpose.   Although, as another member mentioned, they can be good for promotions, and I accept that, but I wouldn't call a new kitchen part of a regular spending pattern.

 

I have a question about the security.  Many own property here.  Can your property secure the small amount you have on a credit card, or it must be cash?  

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1 hour ago, Lacessit said:

I have the same Kasikorn card. I just keep a 50,000 baht balance for things like airline tickets, hotels and online purchases.

Only time I had a credit card in that sense was about 40 years ago. American Express. Got rid of it after about a year, couldn't see any sense in paying fees just so I could owe money on it.

 

I use the K-Web shopping cards too. They are very useful especially the ease with which you can set the credit limit up or down online.

 

But be careful using it to book airline tickets with legacy airlines. The low-cost airlines in Thailand are ok because the payment goes through the "verified by visa" authentication system. But if you book with legacy carriers that don't use that system they can demand production of a physical card at check-in and they can be pretty obstinate. Mostly they won't ask but one day, out of the blue they will. It has happened to me. The same applies when booking a ticket with a real credit card for another passenger not travelling together with the cardholder.

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13 minutes ago, Leaver said:

I'm not in the market for a credit card here.  As another member said, between having the same amount locked away as security, then fees and interest for using the bank's money instead of your own, only to pay the card off with your own money, defeats the purpose.   Although, as another member mentioned, they can be good for promotions, and I accept that, but I wouldn't call a new kitchen part of a regular spending pattern.

 

I have a question about the security.  Many own property here.  Can your property secure the small amount you have on a credit card, or it must be cash?  

Possibly it could be, especially if combined with a mortgage. Otherwise it wouldn't be worthwhile covering the costs and taxes involved registering the lien at the land department. Also the bank would hold your Chanote in such a case.

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