Benefits of Having a Credit Card in Thailand
Before we dive into the bank details, let's understand the advantages of owning a credit card in Thailand.
- Firstly, it helps you save on foreign currency exchanges.
- Additionally, credit cards offer cashback, discounts, and rewards points. They also enable you to conveniently pay your utility bills and phone bills, saving you time and hassle.
- Moreover, certain credit cards even provide free access to airport lounges, making your travel experience more enjoyable.
- Lastly, having and using a credit card helps in building your credit status, which can be beneficial for future loans and other banking products.
Five Foreign-Friendly Banks in Thailand
To help you navigate through the process of getting a credit card in Thailand, we have compiled details on the credit card offerings from the following banks:
Kasikorn Bank requires foreigners to have
- a minimum monthly income of 50,000 Baht
- work in Thailand for at least 6 months.
- The application process typically takes 15 days, and if approved, you can expect to receive your card within 3-7 working days.
Citibank's Consumer Banking Business in Thailand has been acquired by United Overseas Bank (Thai) Public Company Limited (UOB). However, foreigners can still get a Citi credit card by meeting the bank's requirements.
- These include a minimum salary of 80,000 Baht per month
- at least 4-6 months of employment in Thailand.
- Self-employed individuals need to have been in Thailand for a minimum of 3 years
UOB offers its own credit card for foreigners residing in Thailand.
To be eligible,
- you should have a minimum salary of 100,000 Baht
- a work history of at least 4 months.
- Self-employed individuals need to have been in Thailand for a minimum of 3 years.
SCB has transferred its credit card business to a company called "Card X."
To qualify for an SCB credit card,
- you need a salary of at least 100,000 Baht
- a work history of over 3 months.
- Alternatively, you can open a fixed account with a deposit matching the credit card amount you require. For instance, if you require a credit card amount of 200,000 THB, you would need to open a fixed account with a deposit of 200,000 THB, which cannot be withdrawn.
- The approval process generally takes around 3 weeks.
While Bangkok Bank suggests that having your salary go through their bank may increase your chances of getting a credit card, you need to meet specific requirements.
- These include a salary of 100,000 Baht or more,
- Or open a fixed account with a deposit similar to SCB's requirement,
- and at least 1 year of employment in Thailand.
- The approval process for Bangkok Bank credit cards usually takes over a month.
Required Documents:
The required documents for all banks generally are ;
- a valid passport
- a valid visa
- work permit
- an original salary slip or an income certification letter
- a bank statement showing your salary deposits for the past six months.
- If you receive your salary in cash, you may need to attach the latest Non-Resident Withholding Tax Certificate or a six-month bank account statement reflecting your salary deposits.
It is vital to sign your signature on all copies of the documents.
Getting a credit card as a foreigner in Thailand is indeed possible if you meet the respective bank's requirements. Remember to research each bank's criteria and choose the one that best suits your needs. For accurate and up-to-date information, it is advisable to contact the banks directly or visit their official websites. Baansmile is always here to assist you and answer any questions you may have about navigating life in Thailand. Feel free to contact us if you need further assistance.
