Is Credit Rating In Thailand Important?

[phormio]

In the US, everything you do financially is monitored and compiled by three main credit bureaus. A score is compiled called the FICO, which is used by banks, credit card companies, and potential employers to see what kind of a risk you are. If you pay bills late (or never pay them) it hurts, if you do everything right and have been paying off large loans , ie. a mortgage, for a long time then your credit score is increased (the higher the better).

Is there a similar system in place in Thailand?

My family is making a long term move to Thailand and the question is do we need to establish good credit by using Thai credit cards and Thai loans?

This is really another topic but closely related:

Also, say we want to get loans in Thailand to buy a car,( of which two-thirds of the price consists of extortionate tariffs and taxes), how hard is it to get a loan?

Can you get a loan based on work/salary and is a credit score part of the equation?

I'll be living in Thailand on a non-imm O Thai Spouse/Child support Visa but would probably be able to get a reasonable job and an Non-Imm B - which one is better in terms of getting loans for big purchases such as a car or house.

Perhaps I would not be able to get a loan at all, but my Thai wife would ?

Thanks in advance for any input.

[Heng]

They don't so much look at your pay quick, pay late record. Your main indicator is your incoming deposits into your current and savings accounts. They like to see:

1) large cash inflows with no outflows

2) large cash inflows and outflows (as in a business that has high turnover of inventory)