My ex-wife had a Thai credit card in year 2000 just before I met her. A "friend" of hers asked to borrow 20,000 Baht which she drew as a cash advance to lend to the friend. Surprise, surprise the so called friend never paid her back and disappeared. About 6 years later the debt collectors caught up with the ex on a visit to Thailand (we were then living in the UK) and we settled at a discount as by then she had acquired land.
From how I see it; the Thais beleive that if anyone (banks or friends or family) has money to lend then they clearly don't need it and it never needs to be repaid. This could be why it is now quite difficult to get a credit card in Thailand (although a friendly bank manager can pull strings).