How to Get a Thai Credit Card without a Payroll Slip
No payroll slip to apply for a Thai credit card? Let’s find out how you can do it.
Applying For a Thai Credit Card With No Payroll Slip
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.
Key Points
- Getting a credit card in Thailand can be difficult if you don’t have a high-paying job or if you don’t have any income at all.
- One way to obtain a credit card if you don’t have a payroll slip to show the bank is through 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).
What Is a Fixed-Term Deposit Account and How Does It Work?
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 Do You Need In Your Deposit Account to Get a Credit Card?
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.
Bangkok Bank
- Minimum amount: 20,000 baht
- Credit limit: 100% of the fixed deposit.
Kasikorn Bank (KBank)
- Minimum amount: 15,000 baht
- Credit limit: 100% of the fixed deposit.
SCB
- Minimum amount: 200,000 baht
- Credit limit: 50% of the fixed deposit.
Krung Thai
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- Minimum amount: 20,000 baht
- Credit limit: 100% of the fixed deposit.
Krungsri
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- Minimum amount: 40,000 baht
- Credit limit: 90% of the fixed deposit.
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Increase your credit card limit by adding more money to your deposit account.
What To Keep In Mind When Applying For a Credit Card Through a Fixed-Term Deposit
There are several things you need to keep in mind when opening a credit card through a fixed-term deposit account. These include:
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- Not all banks know about fixed-term deposits for credit cards. Some banks may call it something else. Therefore, try to tell them that you want to get a credit card by depositing money into your account, which you will use as a deposit guarantee.
- To prevent any unexpected issues with your credit card, always maintain a balance in your account.
- You need to add more money to your deposit account if you want to increase your card credit limit.
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