Vietnamese buy into interest-free credit for durables

A person makes purchases using a credit card. Photo by Shutterstock/Thicha Satapitanon

Using credit cards to buy consumer durables through installment plans is becoming a common trend, especially among young people.

In early October, when HCMC lifted Covid-19 restrictions, Ngoc Nhu decided to buy a new refrigerator and opted for an eight-month installment plan with zero interest. She had to pay VND1.3 million ($56) a month.

She says: "I have a fridge I like for just a small sum of money. The debt will be paid off in over half a year".

Full Story: https://e.vnexpress.net/news/business/economy/vietnamese-buy-into-interest-free-credit-for-durables-4405871.html