Last week my wife got a call from one of her banks (SCB), and from what she repeated to me it sounded like they were offering her a credit card (I thought maybe a Visa or Mastercard). Well, she received it yesterday but it's something called "Speedy Cash". I'm not sure what it is but it doesn't seem like a credit card: for instance, there's no grace period on purchases so they start charging interest the day you buy something, and the interest rate is an ungodly 30% per year. I've told her she shouldn't use it and suggested she call her bank and ask to be taken off the sucker's list.

I don't read enough Thai to understand the document that came with the card, which is less than one page (compare that to the reams of small print that accompany credit cards in the U.S.). Does anyone have more information about this card and what the deal with it really is?

Thanks!

Not only tell her not to use the thing, have her cut it into several pieces in your presence.

It sounds like it is a pre-approved line of credit. Use it and you are taking an expensive loan with the bank, or probably the bank's wholly owned subsidiary that is a finance company.

Here's the info in English.

Speedy Cash Card

Naka.