Guide to Apply for a Credit Card in Thailand

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May 23, 2014


Thailand attracts millions of tourists every year. In fact, data from the Ministry of Tourism and Sports shows that some 26.7 million tourists made their way to the country in 2013. That’s an almost 20% increase in the number of visitors compared to the previous year.

With so many tourists visiting the country every year, it’s not so surprising to learn that many of them decide to stay and call Thailand their new home. The country has a significant number of expatriates and it’s estimated that there are around 3.5 million expats in Thailand. That figure dates back to 2009, so it’s possible that that figure has gone up since then.

Whether it’s the excellent beaches or the culture of the people, there’s so much to love about this tropical gem in Southeast Asia. The numerous multinational companies operating here also play a part in the influx of foreign nationals working in the country.

If you’re one of the many expatriates who’ve decided to live and work in Thailand, you’d be familiar with the challenges that come with moving to another location. There’s the whole process that you have to go through at the immigration office to legally work here, plus there’s also the matter of finding a place to stay in. If you’re moving to Thailand with your family, finding a good school for your kids would also be among your many concerns.

Applying for a Credit Card as an Expatriate

Finances are another major issue for expats. Access to financial services such as a bank account or a credit card is an important aspect of personal finance, and expats like you may worry that these services are out of reach. You’ll be happy to know that expats are not barred from getting a credit card in the country. There are just different requirements for you to be eligible to get one.

Typically, you’d need to be at least 20 years old and meet a certain income level to be considered being given a line of credit by the local banks. As an example, if you apply for a credit card from the Bank of China, you need to meet a higher minimum permanent income of THB 50,000 (compared to just THB 15,000 for Thai nationals) and the documents you’re required to submit include a copies of your valid passport, valid work permit, salary slip or income certificate, and your bank statements.

Krungthai is another bank that also allows foreign nationals to apply for a credit card. On top of the regular documents you need to submit, such as a copy of your monthly statement or bank statement, you’ll also be asked for copies of your passport and work permit.

Bank of China and Krungthai aren’t the only banks in China that allow expats to apply for a credit card. There are many other Thai banks you can try but expect that you’ll also be required to have a higher monthly income and submit additional documents.

Don’t let your status as a foreigner keep you from applying from a credit card in Thailand. Compare credit cards on MoneyGuru and apply for a credit card today!