Credit card firms respond to fee cap.

(From Bangkok Post)

Byline: Darana Chudasri

Credit card issuers say new guidelines to cap interest rates at 18% to take effect on Monday will force changes in their marketing strategies and operations.

The new guidelines will also impose a 3% charge limit on cash advances. Penalty rate limits have yet to be announced, although authorities have discussed a possible limit of two points over the normal limit, or 20%.

Araya Phupanich, marketing service head for consumer banking at Standard Chartered Nakornthon, said the new limit would definitely affect the bank's revenue.

She said the bank would look to encourage customers to …