Core Viewpoint - The trend of offering bicycles as incentives for credit card applications is gaining popularity among banks, reflecting the increasing pressure on credit card businesses to attract new customers [1][10]. Group 1: Promotional Activities - Several banks are collaborating to offer bicycles as rewards for signing up for credit cards, with requirements ranging from 2 to 10 cards depending on the bicycle's value [2][3]. - The promotional events are being held in various locations, particularly in Beijing, and are designed to attract new customers without regard to their residency status [3][5]. - The promotional period runs from September 5 to October 4, with a total of 10,000 bicycles available [3]. Group 2: Customer Engagement and Feedback - While some customers are enthusiastic about the promotions, others express skepticism regarding the value of the bicycles and the potential downsides of opening multiple credit cards [8][9]. - Customers are required to meet specific activation conditions for the credit cards, which can include additional fees or pre-usage requirements [9]. Group 3: Industry Challenges - The credit card industry is facing significant challenges, including a decline in the number of active cards and reduced transaction volumes, leading to decreased fee income for banks [10][11]. - The People's Bank of China reported a continuous decline in the total number of credit cards in circulation, with a drop of 6 million cards in the last quarter alone [10]. - Experts suggest that banks need to adapt their strategies, focusing on customer differentiation and enhancing digital offerings to remain competitive in the evolving market [12].