Financial institutions plan to limit the expenditure of young credit card holders as household debts are soaring. A source from the Thai Bankers' Association said that representatives of the association, the Bank of Thailand (BoT), credit card issuers and personal loan providers discussed the issue recently. They plan to limit the number of credit cards to three per person, and the combined credit to three times the salary of each customer earning up to 30,000 baht a month. At present, credit is capped at five times salaries - for each card - while there is no limit to the number of credit cards and combined credit. It was reported that last month, average household debt hit an eight-year peak of 131,479 baht per family.

Source: Bangkok Post May 12, 2017 04:41 UTC