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Credit for expats?
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  1. #1
    Join Date
    Sep 2005
    Texas, USA
    Thanked 20 Times in 9 Posts
    I am curious, when a non-Thai person moves to Thailand, do they need to completely start over in establishing credit? Or will their existing credit profiles be used? I would really dislike having to start over like an 18 year old again.

    Credit would need to be established to do many thing right? Leases, buying a car, getting a mobile phone, even getting credit cards.

    Anyone know?

  2. #2
    Join Date
    May 2003
    Sydney Australia
    Thanked 281 Times in 224 Posts
    Finical institutions are there to make money, If you have an account with the larger banks like Americas Citicorp Bank or credit cards like Visa that have branches all over the world, so your history with these institutions are good all over the world,
    But even with the big Thai Banks and if you had no credit history, if you open an account in Thailand using your passport as I.D. have proof of assets in a country that allows the transfer of money,(e.g. most modern economies) so if you default on a loan, they can use your collateral to pay the dept, Also a proof of income that show proof of 6 months savings in Thailand, and so long as you were not financially extended, I think the chances of getting credit from these institutions are good as the banks are taking a very low risk.

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