KTC Credit Card for Foreigners in Thailand

(updated September 2018)

The search for a credit card for foreigners in Thailand is a difficult one full of hurdles and rejections. I have found the (possible) answer for foreigners living in Thailand who want a card without having to first deposit money or have a salary of over 100,000 Baht.

I have just been given a credit card with an 80,000 Baht limit and no need to pay a deposit so I wanted to share my experience and help you out.

KTC Credit Card

Step forward KTC who offer a range of credit cards to foreigners living in Thailand. KTC are linked to Krung Thai Bank (KTB) but offer different terms and credit lines to foreigners.

Whilst there are still credit checks and certain steps to follow the below are the key points which make a foreigner eligible to apply for a credit card.

1. Salary of more than 15,000 Baht a month
2. Valid work permit showing 2+ years with current employer
3. ุ 6 months bank statements and 6 months payslips

As you can see the above points make it possible for a large number of foreigners here to apply for a card. I’m not saying that you are guaranteed to be accepted but I will show you my circumstances below and you can get a good idea if you are in the same boat as me.

Types of KTC Credit Cards

KTC offers a different range of cards – click here to see the range.

You will see different cards have different benefit schemes from free travel insurance to discounts at hospitals and hotels.

The different cards require different salaries with the top range cards needing a salary of 50,000 BHT a month or more. I recommend having a look at the options and see which will benefit you the most.

In the end I chose the KTC X Visa Signature which comes with 20,000,0000 Baht travel insurance and 2 free entries to the Royal Silk Lounge at Suvarnabhumi airport a year. It also pays 3x reward points on any overseas purchases so is useful when traveling abroad.  I already had medical insurance and don’t drive so the other cards benefits weren’t as good in my opinion. This card does state there is a 5,000 Baht yearly fee but when I applied in the branch it was waived as a promotion – I’ll go into more details in the application guide below.

The good news is that the KTC website is in English so you can read all the details before you want before you even go to the branch to apply.

App

There is an app for KTC credit cards called TapKTC. It’s available in English and Thai on android and IOS. In short this app is superb.

It shows recent transactions, sends you messages wen payments are made and notifies you when your statement is ready. It also has your last six month’s statements.  It also shows you your remaining credit limit, points and payment due dates.

My Situation

I wanted a credit card in Thailand for a couple of different reasons. The first is that I saw there are many promotions out there when you use a credit card such as 10 months 0% interest on purchases at many large stores such as HomePro and Index where I buy a lot of things from. Also there are discounts to be had at restaurants and shops that I go to frequently. Another key reason for applying was that I wanted more freedom of paying for things in Thailand without having to use my UK credit card.

My girlfriend and I both applied and were accepted for KTC credit cards so below is the info about us to show what you need to apply for a card.

My salary from my job is 54,500 Baht before tax and I have been in the same position for 3 years. My SCB account which I used to provide 6 months of statements is where I get paid and over the period the balance was between 35-100K BHT. I was given the top level card and a monthly limit of 80,000 Thai Baht.

My Thai girlfriend’s salary is 23,500 Baht before tax and she has worked in this position for just under a year. Her bank statements showed balances around the same as mine. She was approved for the KTC Visa platinum card which is the second tier card and comes with a limit of 60,000 Baht a month and an 8,000,000 THB travel insurance.

One document which seemed very important was the work permit. As such I am not sure how this would affect those who are retired or here on marriage visas etc. It is possible they will review your application but it could be a reason for rejection.

Application Process

I will be honest here and say that I completed the application with my Thai girlfriend which made things a bit easier but in reality all the forms are in English and they do have English speaking staff in stores and on the phone.

The first step is to find your local center – click this link and search. If you are outside Bangkok then you will need to select your location from the drop down menu on the left hand side of the page.

If you want to get everything done on your first visit you will need to take the following with you.

Passport

Work Permit

6 Months Pay Slips

6 Months Bank Statement – Thai Bank printed out in last 7 days.

These will all be photocopied at the branch and sent as evidence towards your application.

There is then an application form which you need to fill in. This has all the usual fields from your personal details to employment information.

After this your application is sent to the head office and you will receive a phone call within 5 working days just to confirm the information and for their team to ask you any additional questions. The interview is in English and the customer service team there were helpful. During my phone interview they asked if I spoke Thai and if I had any family here. I am not married and speak beginner level Thai and that seemed fine for them. They told me that they would make a final decision within 5 working days and then if successful contact me to arrange the pickup of my card.

Within a few days I received an SMS saying I had been approved and to come to the branch 2 days later to collect my new card. The SMS was in Thai so you will need a Thai person to help if you cant read Thai.

Picking up my card was easy enough. I had to take my passport with me as ID and then in the branch speak to customer service on the phone to register and activate it.

Fees and Charges

As you can see from the KTC website there are fees and charges attached to some of their cards. The card I was approved for shows a 5,000 Baht yearly fee but at the branch they had a promotion which means I never have to pay the fee providing I spend money on the card at least once a month.

In light of this I think it is worth speaking to the staff at the branch when applying as it is possible there will be a promotion or option for you to avoid the fee.

If you do end up paying a fee then the decision you have to make is whether it is worth it. My card comes with World-wide travel insurance which is probably worth almost the amount of the fee but perhaps you are already covered or do not plan to travel.

As always make sure you read the fine print regarding fees and charges before signing up for any credit card.

Interest rates are also important but for me the idea is to pay the full card balance every month so I wont have to pay anything extra. Click this link to see the fees and payments attached to the different cards. As you can see everything is in English which is something I really appreciated about KTC, they actually make it easy for foreigners to understand things!

Spending on the Card

I have used my KTC credit card in a few different locations in Bangkok and other provinces. As a Visa card it is widely accepted and I have used it online to pay for a couple of bills too.

You are also sent a PIN so you can use the card abroad or at an ATM.

Using the KTC app you can see in real time the amount you have spent and how much of your limit is remaining. The app is in English and Thai so no need to worry about guessing what each menu means.

Paying Off the Card

Monthly bills are sent via email, in the post and can be viewed on the KTC app. The app is really good as it gives you a live update of your spend and the option to pay off the card at the end of the month.

If you do not wish to use the app you can take your bill to a KTC branch or visit your local 7/11 where you can make payment. The other option is to set up a monthly direct debit from your bank which automatically is taken. Again check the cost table to see the different options and the fees you might have to pay.

The process is really easy and the bill will come in English and Thai so you can read through the information with ease.

Paying in installments

Something great about KTC credit cards is they will let you pay for large purchases in installments. For example my 18,000 yearly fitness membership is split over six months and the extra interest is around an extra 800 baht.

In some shops they will offer special offers for KTC card holders with interest free payments between a three-ten month period depending on the value of the item.

KTC Forever Reward Points

Like with most credit cards there is a points scheme. KTC Reward points (link in Thai) can either be redeemed at certain shops and restaurants to receive a discount or as a cash back which will come off your end of month statement. You can also chose to use your points as a donation to a good cause if you wish.

When receiving your postal bill you will get a voucher book which shows you which shops have deals and discounts when paying via your KTC credit card. It is useful and I have gotten discounts at restaurants and seen good deals on hotels too.

Another way to use your points is on the KTC UShop where you can buy a number of items in either cash, in exchange for your points or a mixture of cash and points. Many items also are available on the Ushop with interest free payment options spread between 3-10 months. I honestly haven’t looked around and compared prices vs stores and online shops but it could be an option if you build up significant points.

KTC Credit Card for Foreigners in Thailand

Where so many banks and credit card companies limit foreigners in Thailand it was refreshing to receive such open and decent service from KTC. My own bank, SCB, wouldn’t even give me a credit card despite being with them for nearly 4 years and always having a decent amount of money in my account.

It is of course possible to get a credit card from other companies in Thailand but it comes with heavy restrictions and salary requirements out of the reach of many here. I know people who have been in Thailand for over 8 years and make in excess of 80,000 a month and are still rejected. Whilst you aren’t guaranteed to be accepted I feel the KTC credit card for foreigners in Thailand is the best option for a lot of people.

If you have any questions, or stories about credit card applications in Thailand, please feel free to share below in the comments section.