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Visa Sees No Signs of Credit Card Overusage.
Byline: Darana Chudasri
May 7--There is no evidence that credit card usage has risen to unsustainable levels, based on current spending patterns, according to a new report released by Visa International.
At the end of 2003, a total of 4.2 million cards were in circulation, up 23 percent from the year before. Outstanding credit card loans were 76.2 billion baht, up 31 percent from the previous year.
But Somboon Krobteeranon, Visa International's country manager for Thailand and Indochina, said concerns about a possible credit card bubble were overblown, as the majority of credit card balances did not incur interest.
He said Visa, the ...
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Source: HighBeam Research, Visa Sees No Signs of Credit Card Overusage.