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As a 20-ish Millennial working in Thailand, applying for the first credit card is not an easy task for an expat. The minimum required salary, working lenghtivity set a high bar for us, at least for me.
After tons of researches, this particular card gets into my must-apply list.
Let me introduce you the "almost" perfect credit card that I successfully applied for the first time after working for 1 year in Thailand- Krungsri JCB Platinum Credit Card.
This is the best card that ticked off all of my lists in evaluating the "Worth It" value:
- Points earning and redemption
- Widely offered discounts
- Lounge access
- Non Annual Fee
- Ease of application
Krungsri JCB Platinum Credit Card is the card that suits almost everybody, especially amateur getting into the credit card games.
JCB (Japan Credit Bureau) is a payment channel based in Japan, founded in 1961. Currently having 130M cardmembers and 30M merchants (https://www.global.jcb/en/about-us/what-we-do/) It is widely being accepted worldwide.
Let start with key benefit of JCB Platinum offers in Thailand (which means these benefits applied to all credit card issuers- including Krungthai, SCB 'Siam Commercial Bank' and Kasikorn Banks):
A. Worldwide free Airport Lounge access: JCB had teamed up with LoungeKey in beginning of year 2020. As this is a complimentary benefit for JCB Platinum cardmembers, only selected airports in 10 countries offer the free access (China, Thailand, South Korea, Singapore, Malaysia, Taiwan, Germany, United Kingdom, Japan and USA-Hawaii only). As the recent cooperation with loungeKey, the access of lounges is limited up to twice per year. It used to be unlimited access (except Changi International Airport in Singapore and Incheon International Airport in South Korea). The overhead charge for accompanying guest and over free usage limitation is 32 USD (approx 1045 THB), in my opinion, it is not worth it. As you might be able to have lounge access in much cheaper way. Please check out my other article about DragonPass access offered by Krungthai Unionpay Credit Card.
Check out the list of lounges offer as link below:
B. Privileges when travelling to Japan: Japan is always on the top list of travelling for Thais, so let's go through what are offers by JCB Platinum.
- Special rate of 100 THB per day for unlimited Pocket Wifi rental.
- Get 20 % Discount on Airport Limousine Bus Tickets at Kansai International Airport, Chubu Centrair International Airport and New Chitose Airport.
Please see the terms and conditions as below:
Pocket Wifi: https://jcb-platinum.wi-ho.co.th/
Airport Limousine Bus: http://www.global.jcb/en/consumers/travel/welcome-to-japan/airport_limousine
Of course, JCB Platinum provides other benefits too. Including special rates for airport meeting service, 5-20% off on regular standard rates of car rental service from Hertz and exclusive prices on golf course reservations in Japan. But those are not considered as super valuable "worth it" key benefits. As other credit card payment channel or issuers provide similar or even better services/ offers on those.
Check out the list of benefits of JCB Platinum as below:
With all the competitions from Krungthai Bank, Siam Commercial Bank (SCB) and Kasikorn Bank, what make Krungsri Bank stands out in its JCB Platinum products?
A. 3% Cash Back on Dining- Worldwide: With expense on minimum 800 THB/ Sales slip and maximum of 120 THB cash back earned per month. (hint: Kasikorn Bank offers 3% cash back too on JCB Platinum product)
Besides the 3% Cash Back, it offers 10% discount on selected restaurants in Thailand: CHABUTON, KATSUYA, YOSHINOYA, TENYA, GYUKAKU, ON YASAI and SEE FAH (hint: This is the benefit of JCB Platinum Credit Cards issued in Thailand)
B. 1% Cash Back for shopping in Japan, Taiwan, Hong Kong, South Korea and Singapore: With minimum expense of 4,000 THB/ Sales Slip and maximum of 80 THB cash back per month.
*This is not the best cash back offer for JCB Platinum, as SCB offers 3% cash back on foreign countries expenses (JPY/KRW/HKD/SGD/TWD) and cash back up to 2,000 THB per month.
But the "worth it" value should be seen from whole picture of what this card offers, right?
C. 1% Cash Back for fuel at Bangchak Service Stations: With minimum spending of 800 THB/ sales slip and Maximum Spending up to 4,800 THB per month.
As from Krungsri as credit card issuers, this credit card products offer accident insurance when travelling domestically and aboard, flight delay compensation and luggage delay compensation.
And now, would be the 3 ups and 3 downs section.
Pros:
A. Free Lounge access
B. Cash Back on wide variety
C. This is a point earning credit card too, which means you could redeem the points in airline miles, food and even more cash back.
Cons:
A. Not widely accepted as Visa/ MasterCard: Of course, JCB is still limited compared to the Giants of Credit Card payment channel, so I will still put this on "Cons". If it is your only card in wallet, it would be a risky move. For example, some online payment portal won't accept JCB or Car Rental Companies would not take JCB as authorisation method.
B. Some cash back offers are not the best in market: But it requires tons of researches to find the small difference. Hence, this is a hard input of "Cons".
C. Free but limited lounge access: It is a pro and con at the same time. Thus, this is a hard input of "Cons" too, to meet the target of 3 pros and 3 cons. Haha!
For the applicants' criteria, it is pretty straightforward too:
A. Foreigners: Minimum salary of 50,000 THB per month and work longevity of one year.
B. Thais: Minimum salary of 15,000 THB per month and work longevity of 3 months.
In conclusion, this is definitely a "worth it" credit card. Would be highly recommend for fresh graduates who start working and would like to get some hands on for credit card.
Before finishing this article, let me highlight few things about the points redemption portal of Krungsri Bank- UChoose.
It offers points redemptions on airline miles, which is appreciated but difficult to earn if you do not have super high spending, as the conversion rate is 2 points per mile (3 points per mile for Japan Airlines JMB). It means 50 THB for 1 mile. Unless if there is high signup bonus that usually do in the States, I could hardly earn the points for mileage redemption.
What special here, is that Krungsri always collaborate with different merchants for cash back and promotions (eg True Money wallet, Coffeeworld, Sephora etc)
The point redemption portal makes the Credit Cards it offers "Worth It".
Hence, those small offers make Krungsri JCB Platinum the almost perfect first credit card in Thailand.
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