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Thailand changes credit card rules to battle high household debt

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"The rule-changes mean credit-card holders can no longer automatically get credit limits of five times their monthly incomes. From Sept. 1, only individuals earning at least 50,000 baht ($1,492) a month can get a maximum spending limit of five times their monthly salary for credit cards.

 

At the end of March, Thailand's household debts were 78.6 percent of gross domestic product, among the highest in Asia, although that eased slightly from 79.8 percent at end-2016.

 

"Thailand's household debt has been high and may affect households and the economy in the long term," Bank of Thailand Deputy Governor Ruchukorn Siriyodhin told a news conference."

 

 

 

 

http://www.reuters.com/article/thailand-cenbank-loans-idUSL3N1KH2R5

 

Edited by Senechal

Shutting the stable door after the horse has bolted methinks...:whistling:

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