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How to Choose the Best Credit Card Based on Your Lifestyle

Choosing a credit card that match your lifestyle doesn’t need to be difficult.

How to Choose the Best Credit Card That Fits Your Needs

How to Choose the Best Credit Card That Fits Your Needs
Not all credit cards are made the same. Many credit cards are available in Thailand right now, so picking the right credit card for your needs is not an easy feat.

The following steps may help you decide the best credit card in Thailand for your lifestyle and goals.

Key Highlights

  • If the card is only going to be used for emergencies, then choose a card without a lot of features, and with the lowest interest rate possible, plus low maintenance fees.
  • If the card is something that you’re going to use for all of your bills, choose the one with a more generous spending limit. Also, consider the perks such as cashback, points earned, and other rewards.
  • If you know that you can pay the card in full every month, the interest rate shouldn’t be a factor for you to consider. You should consider the card with no annual fee and a more extended grace period instead.

Consider Your Income

The most important factor you need to consider before choosing a credit card is your monthly income. Remember that having a credit card might increase your monthly expenditure due to its ease of usage. Therefore, make sure you are very careful and always choose the type that you will be able to afford.

An easy way to see which type of credit card you will be able to afford is by looking at the card’s maximum spending limit capacity. If it’s way beyond what you can earn in a month, then you know the card doesn’t suit you and will only cause you to end up in a bad debt trap.

Check Your Credit Score

If you want to obtain a top rewards credit card, then you need to have excellent credit. However, there are also cards for people with just “fair” credit, limited credit, or even no credit history at all.

Before you apply for a credit card, it is a good idea to take the time to find out your credit score so you will know which type of credit card you should apply for.

If your credit is not as good as you think it is, you may want to spend some time improving it before you apply for a credit card. This way, you can get the right credit card with the best rewards.

One of the easiest ways to improve your credit is by paying all of your bills on time or early. You can also try to lower your credit utilization by paying down your debt.

Always choose the credit card that can give you the best perks.

Know Your Lifestyle and Priorities

The next thing you need to do is assess your lifestyle habits and consider what you would like to use your credit card.

As in other parts of the world, banks and credit card issuers in Thailand offer many cards that cater to different users. For instance, there are credit cards for small business owners, travel enthusiasts, frequent shoppers, and more. By using your credit card responsibly, you may be able to rack up points that you can use to redeem desirable rewards.

The best credit card for you is one that can meet your specific needs. For example, if you don’t travel much, applying for a credit card with travel rewards will not be beneficial for you.

So, what’s your lifestyle? Are you a student? Do you travel a lot? Do you love shopping? Or are you a business owner? Make sure to know what your lifestyle and priorities are before applying for a credit card.

An easy way to see which type of credit card you will be able to afford is by looking at the card’s maximum spending limit capacity.

Pick the Type of Card That Fits You Best

After you consider your income, find out your credit score, and assess your lifestyle, it’s time to pick the type of card that fits you best. Below are some types of credit cards available in Thailand that you can consider:

Beginner Credit Card
If you have never had a credit card before, you might want to consider credit cards designed for beginners. This type of credit cards is a good way for you to learn how to stay out of debt and help you stay focused on managing your money properly. Beginner credit cards usually don’t offer perks, which can help you start off on the right foot. K Bank’s K-Wave Credit Card is one option you can consider if you are a beginner.

Travel Credit Cards
Travel credit cards offer you the chance to rack up points, which can be converted into miles or rewards once you have earned enough. Therefore, if you regularly use your card and are a travel enthusiast, this card is a great option. You can enjoy free or ultra-discounted flights via your card, as well as other perks like early boarding, free meals, or fee check-in baggage allowance.

There are numerous credit cards designed for travellers in Thailand. Some of the most popular are as follows:

  • SCB My Travel – this card offers reward points and discounts. You can enjoy a discount for car rental service up to 20%, discount for room rates up to 30%, and reward points that you can redeem for air tickets, and more. The card also includes travel insurance
  • Bangkok Bank Mastercard/Visa Platinum Travel Credit Card – with this card, you can enjoy special deals on tour packages. You can also earn points that can be redeemed with Thai Airways, AirAsia, or Bangkok Airways. You are also protected by the travel accident insurance provided by the card.

Besides the two cards above, there are various other travel credit cards you can choose from. Some banks also offer credit cards for frequent travellers to specific countries. For example, KBank has KBanlk UnionPay Classic and Gold credit cards for those who travel to China frequently.

Entertainment Credit Cards
Most credit card users belong to this category. Entertainment credit cards provide a number of discounts and reward points on dining, amusement parks, movie tickets, online and retail shopping, and more. You can use the reward points you accumulated to make credit card payments or to buy vouchers. Almost all banks and credit card issuers in Thailand have these types of credit cards. For example, the SCB Family Plus credit card offers cashback at every restaurant in Thailand on four family special days (Family Day, Mother’s Day, Father’s Day, and Children’s Day). Bangkok Bank also offers great entertainment cards with exclusive spending privileges.

Healthcare Credit Cards
If healthcare is your top priority, you should opt for credit cards that are made to help you pay your medical bills and more. Banks in Thailand usually partner with a specific hospital or medical institution for their healthcare credit cards. For example, Bangkok Bank has credit cards with special benefits and privileges for those who got their medical care in Bumrungrad Hospital, Sriraj Hospital, Ramathibodi Hospital, or Priyavate Hospital. KBank also has credit cards with exclusive healthcare privileges at Bangkok Dusit Medical Services (BDMS) Group.

Consider Card Fees

Last but not least, you need to ask yourself if you are comfortable paying an annual fee on a credit card. Here are some questions you can ask yourself to consider whether the card fees are worth it:

  • Do you want travel perks? An annual fee is mostly required for travel credit cards that offer privileges and rewards.
  • Is your credit good? If your credit is not good, you may need to pay an annual fee for a credit card for bad credit. You may need to pay an upfront security deposit to get a secured credit card in some cases.
  • Can you earn an excellent sign-up bonus? Annual fees are less than ideal for some people. However, some cards offer initial sign-up bonuses that can make up for the fee at least for the first several years.