Chart, credit cards, update january : more plastic, less money

Alarm. For the second time in 3 months… the growth year on year of spendings with credit cards is in negative territory…


In january, spendings went down 9,45 %, compared to january 2008 (75,31 billions THB, versus 83,17 billions).

As for the total number of credit cards… nothing changed : more. Plastic is still fantastic are thinking the thai consumers.


Total number of cards in january : 13 023 697 . That’s a growth of 8,54 % year on year. 36 624 new cards were issued in january, compared to december.

I think this trend will continue in the coming months. Banks will continue to issue new cards… to get fees… and consumers will of course continue to take them… but will spend less.

(Source Bank Of Thailand, table FI_CB_080_S2)

1 Response to “Chart, credit cards, update january : more plastic, less money”

  1. 1 Prokster 13 March 2009 at 8:36 am

    Not sure if its 15 or 20k a month to get a bank credit card, but it is all too easy for Thais earning 15-20k or so to get 3-4 cars without trying. Each with about 80-100k of credit, although they will probably need 3 months of some usage to get the full 80-100k.
    This equates to a conservative 2 times annual earnings in easily accessed credit. One can only imagine 2-3 years of less than rosy economic activity will see plenty of this credit used up. Lucky securitization of creit card debt remains far too complicated for the local bankers.
    Banks indeed allow it becasue of the fees. Think 1,500-2,000 baht per scalp.

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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.

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