About 2,500 members across the world recently received a letter, informing them of the cancellation of the privileges. This led to suspicion that the card-issuer - Thailand Privilege Card (TPC) - would soon close its business.
Jutaporn Reungronasa, deputy governor for marketing communications at the Tourism Authority of Thailand (TAT), said the authority, which owns the card company, had never heard about the suspension of TPC members' privileges and had no intention of halting operations.
"As the owner of TPC, any important decision must be approved by the board of the TAT. This latest issue is probably something [stirred up] from outside," said Jutaporn.
A representative of TPC said the company was running as usual without any sign of suspending the privileges.
The same person said the mailing was possibly planned by people related to politics.
"The company was set up five years ago by ex-prime minister Thaksin Shinawatra. However, it was criticised for a lack of transparency in its internal management as well for poor performance. It faced the prospect of closure several times two or three years ago," the representative said.
According members of TPC, they received a letter a few days ago stating that all privileges had been suspended. The letter also informed them that because their "elite" status was being removed, they would be required to adjust to the new circumstances as normal individuals.
Moreover, those members who had benefited from special five-year visas were urged to make fresh visa applications as general visitors.
All TPC members were also told theysaid members would not be eligible for a refund of their membership fee.
Last year, TPC started offering a lower membership fee to boost sales. There is now a special price of Bt2 million for foreigners, down from the original Bt3 million.
One membership is valid for two persons, with a limit on spa and limousine use of 24 times per year. TPC hopes to increase its membership this year from 2,500 to 2,900.
Last November, TPC laid off 23 staff to reduce operating costs.
The company is managed by Suraphong Triumchanchail, who is chairman and acting president. It is inviting candidates for the presidency.