Civil servants have highest level of credit card debt

BANGKOK: -- Civil servants and company employees have the nation’s highest levels of credit card debts, according to a University of the Thai Chamber of Commerce survey published today.

The survey conducted by the university’s Economic and Business Forecasting Centre shows that civil servants and company employees are not only more likely than other people to have credit cards, but they are also more likely to get into debt, with 36.6 percent of those questioned admitting to be in debt of Bt10,000, and Bt26.8 percent of between Bt10,001 and Bt30,000.

According to Mr. Thanawat Polvichai, director of the university's forecasting centre, Thailand’s credit card debt situation is not yet a matter of concern, as most credit card debt remains well within the limits set by commercial banks.

He also pointed to the fact that the number of cardholders unable to pay off debts had fallen from 1.3 percent last year to only 0.3 percent this year.

The survey also indicated a sharp reduction in the use of credit cards to replace cash, from 49.5 percent to 34.4 percent, and a concomitant rise in the use of credit cards to withdraw cash, from 18.9 percent to 32.4 percent.

Nonetheless, he said that the forecasting centre was in agreement with government plans to set credit limits at no more than five times cardholders’ monthly salaries.

--TNA 2005-06-09

Civil servants and company employees have the nation’s highest levels of credit card debts, according to a University of the Thai Chamber of Commerce survey published today.

So apart from company employees and civil servants, what groups do we have?

I can only think of children/students, business owners, unemployed and retirees.

Unless I am totally out on a limb here, it is hardly ground-breaking research they present as the main subject. The statistics at the bottom of the article are more interesting and informative... so why not use those as the headline instead?