Thai National's Living Cost And Things They Have

[neverdie]

Yes its a world wide thing, but I was shocked to find out how easy it is to obtain a credit card, here in LOS.

Back home, you can apply online or at a bank or whatever, but in the application process they want to know just about everything, especially other credit cards, limits, amounts owed etc.

Here in Thailand, I know one lady that has in excess of 18 credit cards (No BS) & the reason I know this is my gf was trying to give her some advice in relation to financial problems she was having & in order to do this she turned up with all her paperwork. Whilst examining it and being shocked at what I saw, I questioned her in regarding to her ability to seemilngly acquire new credit cards, at which time I was informed in alot of the cases all one needs is 500 baht in a savings account to qualify for new credit card. This woman had been using credit made available to her to obtain new credit, well in excess of 1 million baht all up & way beyond her means. We sent her away suggesting that she go to her main bank and speak to the manager or loans officer regarding her situation & need for a consolidation loan. Apparently the bank wasnt interested in helping her out, but did offer to increase her credit card limit so she could cancel some of the 'other' brands of credit card........ Go figure.

[caf]

That's nothing. I know people with 32 credit cards, 10 digital cameras, all wearing gold jewelry and using long style wallets all full with credit cards. You know those with 8 credit cards each side which works out at 2 wallets per person. Each girl carried at least two designer handbags and the boys had at least 2 ipods on show.

So much on the table that they eat their meals on their laps.And that is not normally allowed at a pub in Chiangmai.

Edited December 21, 2009 by caf

[elektrified]

Yes its a world wide thing, but I was shocked to find out how easy it is to obtain a credit card, here in LOS.

Back home, you can apply online or at a bank or whatever, but in the application process they want to know just about everything, especially other credit cards, limits, amounts owed etc.

Here in Thailand, I know one lady that has in excess of 18 credit cards (No BS) & the reason I know this is my gf was trying to give her some advice in relation to financial problems she was having & in order to do this she turned up with all her paperwork. Whilst examining it and being shocked at what I saw, I questioned her in regarding to her ability to seemilngly acquire new credit cards, at which time I was informed in alot of the cases all one needs is 500 baht in a savings account to qualify for new credit card. This woman had been using credit made available to her to obtain new credit, well in excess of 1 million baht all up & way beyond her means. We sent her away suggesting that she go to her main bank and speak to the manager or loans officer regarding her situation & need for a consolidation loan. Apparently the bank wasnt interested in helping her out, but did offer to increase her credit card limit so she could cancel some of the 'other' brands of credit card........ Go figure.

My g/f walked into that bank near Wat Phra Singh, I forget the name but it is one of those micro loan banks. All she had with her was her Thai ID and a copy of her tabien baan. After about 90 minutes she walked out with a passbook with a 50,000 Baht balance (line of credit). She didn't even have a job. She didn't have to offer any proof that she could pay back the money.

[elektrified]

There are not too many people in the 'modern' world that wouldn't like at least as much as the next guy.

American's, Brits etc, seem to like impressing the neighbours......look at the <deleted> some of them are now in!

That is exactly the point.

[neverdie]

SHOCKING STORIES. Sorry I dont know anyone with credit woes like that back home, I remember once I owed about $2000 on my credit card after a run of bad luck & I could barely sleep at night. I havent paid interest on a credit card for many many years now, whilst I have a couple, I hate them and only use them to my own advantage. It must certainly be a different mentality that just keeps racking up this sort of debt.

[Ulysses G.]

Unlike back home, one can go to prision for debts here. It may be easy to get loans, but it is very difficult to avoid paying them off.

[Yimmy]

Depends entirely on who you are, and who you got the loan from.

As we know in Thailand the crime doesn't matter, it's the status of the people involved that dictates the outcome.