No payroll slip to apply for a Thai credit card? Let’s find out how you can do it.
Credit cards are getting more and more popular in Thailand. Besides allowing instant spending, credit cards also provide access to good deals, rewards, perks, loyalty points, and more.
Getting a credit card in Thailand can be difficult if you don’t have a high-paying job. It can be even harder if you don’t have a salary. However, this doesn’t mean that it’s impossible.
If you don’t have a payroll slip, you can obtain a credit card by opening a fixed-term deposit account.
A fixed-term deposit is a type of bank account in which you have to pay a fixed rate of interest in exchange for keeping money in the account for a set period of time (a term). You can pick a tenure, or a term, when you open the account. Choosing a tenure means you are deciding to put your money away and not touch it for a period of time (one month, three months, six months, one year, and so on). Each tenure has a set interest rate tied to it. The interest rate on the deposit depends on the period for which the funds are placed with the bank. You are not allowed to withdraw the money before the due date.
Once you have a fixed-term deposit account, you can use it to get a credit card.
You can get a credit card through fixed-term deposit account if you don’t have a payroll slip.
How much you need to have in your fixed-term deposit account depends on the specific bank. Also, the credit limit is usually equal to the amount of the fixed deposit. For instance, if you open a fixed-term deposit account with 20,000 baht, your credit limit will be 20,000 baht.
Here’s how much you need to have in your deposit account, including the credit limit you’ll get when getting a credit card in several different Thai Banks.
Kasikorn Bank (KBank)
Increase your credit card limit by adding more money to your deposit account.
There are several things you need to keep in mind when opening a credit card through a fixed-term deposit account. These include: