Credit card rule change set to hit clientsMr Sarut says the credit card rate is scheduled to rise to 8% in 2024 before returning to the normal 10% in 2025. CardX, a credit card service provider under SCB X Group, expects that some customers may fail to comply with the Bank of Thailand’s regulation on minimum credit card payments scheduled for next year. The company has 2 million credit cardholders in total, of which 160,000 accounts, or 8%, repay debt at the minimum rate of 5%. “Some clients are unable to pay at the normal rate, so the company would help support them on debt restructuring. He said the central bank has set a specific timeline for the increase in its minimum payment rate for credit cards.

Source: Bangkok Post August 22, 2023 01:32 UTC