credit card regulations are still in the stage of soliciting opinions. Many banks have proactively adjusted relevant policies and begun to limit the number of credit cards held by cardholders.
Recently, Postal Savings Bank announced that the bank plans to adjust the number of credit cards it holds starting from February 16, 2022: the maximum number of valid credit cards held by the same customer with the bank is 5 ( (including 5 cards), if the upper limit has been reached, you will not be able to successfully apply for a new card.
In addition to the Postal Savings Bank, China CITIC Bank previously issued an announcement to adjust the number of credit card holders. The total number of valid principal and supplementary cards held by the same customer at CITIC Bank is capped at 10 (inclusive). If the upper limit is reached, card replacement, card upgrade or downgrade, and new credit card applications will be rejected during the year. .
In July 2021, Industrial Bank also issued an announcement stating that it would clean up multiple credit card accounts opened by individuals and limit the number of newly opened credit card accounts. When the same customer opens a new credit card account at Industrial Bank, he will hold The total number of credit cards currently in normal status in the bank cannot exceed 8.
Strengthen the dynamic monitoring of sleep card to prevent the risk of "one person with multiple cards"
After many years of "rushing era", the risks of the credit card business are also gradually accumulating.
Data from the "Overall Operation of the Payment System in the Third Quarter of 2021" released by the People's Bank of China show that as of the end of the third quarter, there were 798 million credit cards and debit cards, a month-on-month increase of 0.97%, and the total outstanding credit card credit card overdue for six months was 86.926 billion yuan. , a month-on-month increase of 6.26%, accounting for 1.04% of the credit card balance repayable.
In the past period, banks have vigorously developed the credit card business and regarded the number of card issuances as an important assessment indicator, resulting in a large number of invalid cards being issued. This not only caused a waste of resources, but also invisibly increased the risks for banks and customers.
On December 16, 2021, China Banking and Insurance Regulatory Commission issued the "Notice on Further Promoting the Standardized and Healthy Development of Credit Card Business (Draft for Comment)", which put forward clear requirements for card issuance management. Banks are required not to directly or indirectly use card issuance volume, number of customers, market share or market ranking as the single or main assessment indicator. Strengthen the dynamic monitoring and management of sleep credit cards. The number of long-term sleep credit cards that have no active transactions from customers for more than 18 consecutive months and whose current overdraft balance and overpayment are zero shall not account for more than 20% of the total number of cards issued by the institution at any point in time. , banks exceeding this ratio are not allowed to issue new cards.
Since the country launched a special campaign to “cut off cards”, banking financial institutions have continued to increase their management of personal accounts. Since the beginning of this year, many banks, including China Construction Bank and Postal Savings Bank of China, have issued announcements to clean up "sleeping" accounts that have had no transactions and no funds for a long time.
Industry insiders believe that strengthening the monitoring and cleanup of sleep credit cards will not only relieve cardholders from the problem of managing multiple cards, but also reflect the cardholders’ true credit needs and credit limits, effectively reducing the cardholders’ problems due to excessive credit limit. The risk of not being able to apply for a loan in full is high.
Notice on Strengthening the Management of Payment Acceptance Terminals and Related Businesses
People’s Bank of China Order [2021] No. 4
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