Credit Cards

[Guest fountainhall]

I went to my bank today to try and get a Thai-based credit card. I have had several overseas-based cards for decades and used these here for some years. But the overseas charges and commissions are now getting a lot higher and it makes much more sense to have a local one to make smallish local purchases. Besides, it would be nice to rack up a few airline miles.

 

I have an annual retirement visa and choose for the time being to make the annual lump sum Bt. 800,000 payment. I assumed getting a basic card would be just a formality. Not so. At the local branch of the bank I have been with for 30 years, I was informed that without a work permit the only way to get a card is to take out a time deposit which is then used as a lien against card puchases. In other words, the fact that I still work and get an income outside Thailand, that I have 30 years credit history with this bank overseas, and the Gold and Platinum cards I already have, mean nothing! I was really pissed off.

 

I am sure there must be another way - probably with another bank. I also maintain a small savings account at the Bangkok Bank. If anyone has any bright ideas, they'll be much appreciated.

[Gaybutton]

If anyone has any bright ideas, they'll be much appreciated.

 

Maybe this isn't such a bright idea, but I would try two things. First, since there are so many times when one branch tells you one thing and another branch tells you something else, try two or three more branches of the same bank before giving up.

 

If that fails, try other banks. Different banks seem to have totally different policies. It's possible that other banks may issue you the credit card while your own bank won't.

 

You can't be any worse off than you are right now by trying.

[Guest fountainhall]

Thanks GB. Unfortunately, I'm with HSBC and there's just one branch here in Bangkok. But I will certainly try other banks.

[Guest jtrack33]

When I moved to Bangkok several years ago, I also thought that a local bank would easily issue a credit card, but central bank laws/regulations forbade them (supposedly) from doing so after the 1997 crisis. In The Philippines, local banks would seemingly issue cards with no guarantee.

I asked Bangkok Bank years back if they would issue me a card if I made a deposit as guarantee and again they said no. In your case, they said ok...so why not do it? You can have the guarantee in a savings account and don't need a large limit as if/when you have a large payment to make that exceeds the credit limit, you can pre-charge the credit card on-line. But if you really want credit, then that's a different story. I use the credit card only when I have to..ie for car rental and on-line purchases.

I gave up and opened an account with DBS in Singapore, made a deposit guarantee and now use DBS as my prime bank. No charges and so efficient and helpful and everything on-line. No taxes whatsoever for income from deposits. In all the years I have been using DBS in Singapore with different accounts and funds, I have never actualy had to go there...ever....and the credit card works fine.

[Gaybutton]

The URL for DBS is: http://www.dbs.com.sg/home/index.html

[Guest jtrack33]

I forgot some points before....You mentioned you wanted the credit card for small local purchases. I don't know if you are aware, but a Bangkok Bank ATM card is not only usable as a BTS train card but also as a nationwide debit card that functions in all stores and supermarkets I have ever tried it in.

You also said you would like to get local air miles. With a DBS credit card you can encash the points for air miles on Star Alliance flights via Sing Air membership.

DBS is the largest bank in South East Asia.

[Gaybutton]

I don't know if you are aware, but a Bangkok Bank ATM card is not only usable as a BTS train card

 

Thank you, jtrack33. I was not aware that you could use a Bangkok Bank ATM card for that purpose. I wonder if it's just Bangkok Bank or if you can do that with any Thai bank's ATM card.

[Guest jtrack33]

You need to specifically apply for the atm card that will do that. I recently upgraded to that functionality(wow, I finally got to use that weird word!). You can recharge the BTS part of the card at any Bangkok Bank atm machine at a BTS station. They have a little card-sized tray on the left of the keyboard where you place the card while being recharged. I have not seen that tray on other atm's and so assume on BBank offers this feature. There is one drawback though and that is if you have an MRT card also, the two together will cause a conflict when you place your wallet at a card reader at the BTS or MRT station entrance gates. You have to remove one or the other from your wallet first. This what the card looks like:

 

[Gaybutton]

There is one drawback though and that is if you have an MRT card also, the two together will cause a conflict when you place your wallet at a card reader at the BTS or MRT station entrance gates.

 

This is excellent information and I had no idea about any of it before. For those who use the rapid transit system in Bangkok regularly, this could be quite useful.

 

As for the two cards conflicting with each other, somehow I'm not surprised.

[Guest LP]

Delete.

[Guest fountainhall]

In case of HSBC I presume fountainhall you are a Premiere member.

 

Unfortuntately I am not in that class! But many thanks to everyone for some extremely useful advice. I will check some other banks, but since I want to card exclusively for inexpensive local purchases (to avoid always using cash), I can see that the route proposed by HSBC and other banks is not unreasonable and probably the way to go. If I can find someone offering miles as well, that will clnch it!