A credit card lets you borrow money from a bank up to an established limit to make purchases. You need to repay the money you borrowed by your bill’s due date or incur interest charges. In simple words, a credit card allows you to buy now and pay later.
It’s not like a personal loan because instead of getting the full loan in cash, the bank allows you to take as much of your credit limit as you want at a given time. A credit limit is the maximum amount of money you can borrow.
Each card comes with a special number. You may purchase products or services using this number, plus other information on the card (such as a validity date or a code). Once your order is done and is ready to be sent to you, the card issuer (the bank) will then passes the money to the dealer. Keep in mind that if you don’t pay the bank on time, you will have to pay late fees and may receive increased interest rates.
If you use your credit card carelessly, it can throw your finances off balance. But when used responsibly, your credit card offers a lot of benefits. Here’s how you can use and make the most out of your credit card.
When you don’t pay on time, you can face absurdly high late payment charges. Therefore, to avoid this, pay on the same due date of each month because the delayed payments will reflect poorly on your score.
You can earn by spending on your credit card by keeping a list of deals such as restaurant bills, ticket transactions for movies and more. Earned reward points can be redeemed against gifts.
A higher credit use ratio which overtime isn’t helpful to your credit health even though you have a good payment history, so it is good always check on how much you spend despite having a high credit limit
If you have a credit card and there are enticing deals like bonus points, cash backs on some types of purchases, etc., then claim these benefits and take advantage of your card.
By making your credit card purchases at the start of your billing cycle, you can leverage the interest-free period to the maximum extent.
Good information but not 100% sure how would appling with the Thaiger will save me time and benefit me. I will give it a shot anyway thank you.
All you need to do is inquire with then and someone will shortly be in contact with you. Awsome service saving me time and money.
Thank you for providing us with this information, I will definitely recommend this website to my friends and family.
Is it worth getting credit card in Thailand? there seems to not be alot of benefits unlike where i come from.
The Thaiger also offers various types of credit cards, including business cards and travel and cash-back options. Check out their related products to see if there is anything that better suits your needs.
Great experience, hardworking people taking care of their clients. Thanks for getting my credit cards.
Applying for a credit card can be tricky for foreigners. Not all banks in Thailand are welcoming, and the process tends to be harder for expats than for locals. Below, we have listed three recommended banks that can provide credit cards for foreigners.
The Citibank Card accumulates a lot of spending points, which can be exchanged for deals later. In addition, once you book a ticket with your credit card, Citi bank will offer insurance with 7,000,000 THB coverage.
For a minimum budget of 100,000 THB, there will be a yearly charge of 3,800 THB. One of the Citibank cards’ limitations is that expats are expected to have a minimum salary of 80,000 THB per month to be eligible. You may also qualify for this card if you are on a retirement visa, but you will have to make a deposit of at least 1,000,000 THB in a fixed-term account.
The Visa Platinum Credit Card from Bangkok Bank is designed to satisfy your every requirement. With points available for each transaction, they can also promise to refund a portion of your purchase. The Visa Platinum credit card also provides 24 hours of service to help you have trouble with your card.
There are different forms of credit cards available from KASIKORN Bank (The Intelligence, The Premier, OneSiam, The Love, PTT Blue, K Wave) and several more. Enjoy perks such as limousine airport pick-up and drop-off facilities, multinational customer care services, lost luggage, stolen card and the emergency embassy, and much more.
I’ve recently applied for a credit card with the Thaiger’s help. I applied to several banks before, but I never got my card. The Thaiger made the application process very straight forward, though. I don’t have to wait for months! Like they said, a credit card does make my life here in Thailand easier! It makes me feel like I’m in control of my finances, and I enjoy many discounts from the card, too. Being in control of my finances, for me, is a great stress reliever.
Top tip: Make sure you have all the requirements, so the process can be more painless.
A credit card is a payment card that allows you to pay for goods and services. Credit cards grant you a credit line that can be used in the future to make payments, balance transfers, and/or cash advances that enable you to pay back the value of the loan. You would need to make at least the minimum payment per month by the due date on the balance when using a credit card.
Below we list some interesting products you may want to check out. Like credit cards, the following products will also make your life in Thailand so much better.
Finding the right credit card can be very stressful. To make it easier, we have compiled several things you need to keep in mind when applying for a credit card in Thailand.
The first requirement that you will need is a work visa to provide any evidence of income to qualify for a credit card. A number of banks recommend that your work permit should be valid for another six months. You need to show salary slips for the previous three months as well. If you don’t have a work permit, you will also be eligible to get a credit card if you are ready to spend 100,000 THB to 200,000 THB in a fixed-term deposit account with the bank (as a guarantee).
It’s advisable that you apply for a credit card only if it matches your credit standing. Why? Because if you get turned down, it will be harder for you to get approved the second time around.
You should not submit more than a couple credit card applications within a short period of time, as this can lead to a roughly six-month dip in your credit score.
Credit card cashback rewards are bonuses provided to credit card customers when they use their cards to make purchases. Cashback rewards can take the form of cash or points — with points typically redeemable on an online marketplace operated by the card issuer.
Cashback credit cards accumulate rewards when making purchases within specific categories, such as grocery stores or gas stations. There are essential differences in what kinds of spending get rewarded and what format the rewards take, such as rotating categories and the value of points. You may also have to keep in mind that some cash back credit cards specify a maximum limit of cashback you can earn within a specific time period.
Expats can apply for credit cards in Thailand, but the banks set their own minimal work experience and monthly income conditions (varies for each bank) before issuing your card. All Thai banks typically require a work permit and passport. If you meet a minimum financial requirement and have a work permit, you can check out Citibank Reward. It’s one of the best cards out there in the market.
Is your business ready to take a leap, but you don’t have the working capital to do so? Our Small and Medium Enterprise (SME) Loans might be the answer you’re looking for.
We understand the challenges and needs of running a business. To make a profit and successfully operate, a business needs monetary support to carry out numerous activities. This is why our SME Loans are tailor-made to suit your business’s needs and requirements. Whether you are looking to maintain a healthy cash flow or you want to expand your business in Thailand, you can always apply for SME Loan and get the financial help you need.
Yes, using credit cards for transactions in stores, hotels, and restaurants, and elsewhere in Thailand is fully safe and free.
Expats can apply for credit cards in Thailand, but before issuing the card, the banks set their own minimum work experience and monthly income conditions. A work permit and passport will also be required for all banks.
SMEs in Thailand is divided into two small and medium-sized groups with different requirements.
– Small enterprises compromises of no more than 50 employees with a capital of no more than 50 million baht
– Medium enterprise compromise of 51 to 200 employees and has a capital of 51-200 million baht
Yes, you can cancel your card at any time. First, you have to contact the bank either in person at the bank or via the call centre. The staff will check your information and ask for the reasons for cancelling. When you confirm the cancellation, it will be done immediately. The card must be destroyed and returned to the bank.
You can freeze your credit card right away from the call center. You’re going to issue a new one, with the new credit card number, new security code, and new phone code. The codes will be sent to you free of charge via mail.
Credit card insurance coverage was particularly common. However, in the last few years, many credit card issuers have reduced their cardholder benefits from insurance coverage. But there are still credit cards with insurance, even if they’re a little harder to find now.
If you have a credit card with a special money transfer, you’re in luck. This is the easiest way to transfer funds to a bank account from a credit card, as it has been designed for this purpose. That means that the charges and interest are usually lower for transferring money.
Some details that you may need to include in your application form include:
-Copy of ID passport
-Work permit at least 1 year
-Letter of payroll slip/Letter of guarantee from an employer or certifying your income
-Copy of Bank account for the last 6 months
Credit card apps would usually only ask you for your contact information. And the past two years, this covers items such as your full name (no condensed versions!), your address and your former addresses, when you are at work and how much you receive.?