Local credit card operators plan to seek Bank of Thailand approval to raise their maximum interest rates as their costs have risen. The funding cost for credit card operators has increased in line with rising interest rates, according to the Credit Card Club, a unit of the Thai Bankers’ Association. The club also wants to discuss postponing an increase in the minimum payment rate for credit cards. The club has 16 members, mostly credit card providers from commercial banks and large non-banks. Mr Atis is also the managing director of General Card Services Ltd, a Bank of Ayudhya (Krungsri) affiliate that oversees the Central The 1 credit card, a co-branded card from Krungsri and Central Retail Corporation.

Source: Bangkok Post August 11, 2023 15:10 UTC