Banks eye new generation to expand credit-card customer base

By The Nation

 

 

Banks’ credit-card divisions plan to tap more young customers next year to boost the growth of their business.

 

 

Somwang Toraktrakul, managing director of Krungsriayudhya Card Co Ltd, said the company will launch new products that are tailormade to tap the new generation, even though their spending through credit cards at present is not high.

 

The company is targeting a 7 to 8 per cent growth in card subscription next year, while it expects spending via its credit cards to grow 12 per cent.

 

Though spending via its credit cards in the past 10 months shrank 12 per cent, it is still an improvement from minus 50 per cent in March and April, he said.

 

The company’s credit-card subscription base at present totals 1.4 million cards, which is expected to rise to 1.5 million by yearend.

 

Thaweelap Rittapirom, Bangkok Bank’s executive vice president, said his bank will also focus on tapping the new generation next year.

 

It will take part in university activities to raise awareness of its BBL brand, which will make them think of BBL first when they want credit-card services.

 

The bank will also expand partnership in many sectors as part of efforts to boost the number of new cardholders and spending next year.

 

Source: https://www.nationthailand.com/business/30397916?utm_source=homepage&utm_medium=internal_referral

 

-- © Copyright The Nation Thailand 2020-11-14

 

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Catch 'em young, have them paying back for life.

 

As if there isn't enough debt already.

 

The problem that I have witnessed is that young Thais are not taught responsible personal financial management and they very quickly max out their cards to meet family and peer pressure to purchase the latest goodies.

predators luring in more suckers.

And now hunting the Youngers, Rich more rich, poor more poor...

Edited November 14, 20205 yr by Tarteso

And of course no one is educating them.

 

The same thing all over the world

 

I was brought up with the philosophy, that you can only spend money you have already earned and is sitting in the (piggy?) bank.

The frenzy of driving in unpaid cars from and to unpaid homes, buying petrol and groceries - apart from all the other unnecessary consumer goods with unpaid credit cards = neo slavery.

Certain countries with doubtful education systems (Thailand, USA) charge for university studies and kids usually leave with a (in some cases worthless) degree and a rucksack of tens of thousands of dollars debt. That's when the private industry takes over and ensures, that they never ever get out of debt. 

Call me an old fart but I never had a sleepless second as I never bought, buy nor will buy anything with money I do not have ???? 

More loan slaves! Great!!!!

Move 'em on, head 'em up
Head 'em up, move 'em on
Move 'em on, head 'em up, rawhide
Cut 'em out, ride 'em in
Ride 'em in, cut 'em out
Cut 'em out, ride 'em in, rawhide!!!!

????