756 million credit card holders! Bank note: this will result in a reduction

category:Finance
 756 million credit card holders! Bank note: this will result in a reduction


On November 16, Shanghai Pudong Development Bank issued the announcement on further clarifying the use of credit card funds. Personal credit cards and credit card funds are limited to cardholders daily real consumption. Credit card funds can not be used in production and operation, fixed assets investment, equity investment, cash arbitrage, debt repayment and other non consumption fields, including house purchase, securities investment, financial management, other equity investment and other prohibited fields.

Source: Shanghai Pudong Development Bank

On November 2, the postal savings bank also issued a public document stressing that credit card overdraft funds should be used in the field of consumption, and should not be cashed out or used in production, operation, investment and other non consumption fields (except those permitted by national laws and regulations).

Source: Postal Savings Bank

Mr. Zhongzheng noted that in recent months, many banks, including Shanghai Pudong Development Bank and postal savings bank, have repeatedly issued documents reiterating the use of credit card funds.

It can not be used for investment in other fields, such as personal investment, equity card, stock investment and so on. In July, China CITIC Bank announced that personal credit card overdraft should be used in the field of consumption, and should not be used in production, operation, investment and other non consumption fields, including house purchase, securities investment, financial management, other equity investment and other prohibited fields.

In addition to further clarify the use of credit card funds, many banks have indicated that if the cardholders credit card transaction is prohibited by supervision or the risk characteristics identified by the bank, the transaction may fail. At the same time, the bank has the right to take risk management measures such as adjusting credit line and locking account.

It is worth noting that banks will also strictly investigate illegal transactions such as cash arbitrage. The postal savings bank further reminded that in order to ensure the normal use of the card, the cardholder should standardize the use of the card, make reasonable consumption, and properly keep the transaction vouchers consistent with the transaction purpose of the credit card, including but not limited to transaction invoices, receipts and purchase vouchers, so as to cooperate with the bank for verification.

According to the data of the central bank, by the end of the second quarter of 2020, a total of 756 million credit cards and debit and credit cards were issued nationwide, up 0.99% month on month.

Stricter supervision

In fact, the successive announcement of banks has something to do with the attitude of the regulatory authorities.

For example, in November, Hang Seng Bank was fined 1.2 million yuan for three crimes such as using personal consumption loans to buy houses. Tianjin Rural Commercial Bank Co., Ltd. was fined 1.3 million yuan for failing to use the credit funds according to the agreed purpose and some illegal inflow into the real estate field.

It is understood that the cbcirc has recently informed major banks of the major problems found in the inspection of credit card business, requiring them to strengthen marketing and credit management, and strengthen risk source control, including strict credit extension for customers with different common cards, strict control of credit for customers suspected of cash arbitrage, overdue, multi loan, online loan co debt, repayment on behalf of clients, and strengthening temporary credit management u3002

It can be predicted that the supervision of credit card market will be more strict in the future.

Further reduction of equity

In addition to clarifying the use of credit card funds, the adjustment of credit card points rules is also one of the topics prompted by the Bank Credit Card Center recently.

For example, on November 9, Everbright Credit Card Center issued the announcement on the detailed rules and terms adjustment of the bonus points program, announcing that real estate transactions, auto sales transactions, wholesale transactions, and online transactions (except online transaction marketing activities carried out by the bank) will not participate in the bonus points program. At the same time, card holders are not allowed to accumulate credit card points in the business of water, electricity and gas payment, supermarket, oil and gas filling, transportation and insurance businesses.

On November 3, China CITIC Bank said it would adjust the rights and interests of its four high-end air travel credit cards, including the adjustment of the original unlimited airport high-speed rail VIP Hall to 6 airports + 4 high-speed rail VIP halls / year, and the cancellation of 36 + 1 full sports service rights and interests.

For a long time, getting in and out of the VIP rooms of aviation / high-speed rail, accumulating points, exchanging voucher / mileage, and airport service are all open weapons to attract users to apply for credit cards. Some industry insiders said that affected by the epidemic, the bad credit card business of banks has soared this year, and the growth rate of income has slowed down. In this context, it is reasonable to reduce credit card equity and reduce costs. According to the data, as of the end of the second quarter, the total amount of credit cards overdue for half a year was 85.428 billion yuan, a decrease of 7.02% on a month on month basis, accounting for 1.14% of the outstanding credit balance of credit cards. Source: Chen Hequn, editor in charge of China Securities Journal_ NB12679

For a long time, getting in and out of the VIP rooms of aviation / high-speed rail, accumulating points, exchanging voucher / mileage, and airport service are all open weapons to attract users to apply for credit cards. Some industry insiders said that affected by the epidemic, the bad credit card business of banks has soared this year, and the growth rate of income has slowed down. In this context, it is reasonable to reduce credit card equity and reduce costs.

According to the data, as of the end of the second quarter, the total amount of credit cards overdue for half a year was 85.428 billion yuan, a decrease of 7.02% on a month on month basis, accounting for 1.14% of the outstanding credit balance of credit cards.