转自：新华社 曾经"跑马圈地"的信用卡行业，正在经历从规模扩张到"精耕细作"的变革。 近3年，我国信用卡数量减少9000多万张；近期，一些银行信用卡App还进行了迁移与关停。信用卡行业正经历转型的考验，着力调整经营策略、优化用户 体验，以不断创新拓展发展空间。 一商家工作人员在POS机上刷卡。新华社发（李俊锋 摄） 市场规模出现收缩 与此同时，不少银行的信用卡贷款余额、交易额等主要数据也在下降。 多家上市银行发布的三季度业绩报告显示，9月末，招商银行信用卡贷款余额约9276亿元，较去年末减少约200亿元；中信银行信用卡贷款余额4649.20亿 元，较上年末下降4.87%；平安银行信用卡应收账款余额4006.63亿元，较上年末下降7.9%。 一段时间以来，一些信用卡App进行了迁移与关停。中国银行信用卡App"缤纷生活"今年9月起逐步迁移至"中国银行"App；北京农商银行"凤凰信用 卡"App、"渤海银行信用卡"App已分别于今年3月和去年12月关停并将功能迁移至相关手机银行App……这些现象背后是银行加速数据与资源整合和转型步 伐。 虽然规模收缩，但信用卡仍凭借丰富的支付场景、免息期等一系列优势，在百姓的金融 ...

Core Viewpoint - The credit card business of commercial banks is entering a critical phase of stock competition and deep transformation, with several banks adjusting their installment business rules, raising market concerns [1][2]. Group 1: Industry Adjustments - On October 22, Everbright Bank announced it will officially discontinue the "self-selected installment" service starting December 9, 2025, affecting all credit cards that had this feature activated before that date [1]. - Industrial and Commercial Bank of China (ICBC) will optimize the installment periods for credit card bill installments and consumption transfers, ceasing long-term installment services exceeding 36 months, effective December 5, 2025 [1]. - The concentrated actions of multiple banks outline a clear trajectory of industry adjustments [1]. Group 2: Factors Driving Changes - Regulatory requirements are compelling banks to adjust installment business rules, ensuring compliance and preventing excessive credit issuance [2]. - Banks aim to optimize credit structures and control financial risks, as rising credit card delinquency rates necessitate adjustments in installment fees, terms, and entry thresholds [2]. - The need for sustainable development is pushing banks to shift from aggressive growth strategies to refined calculations of funding, operations, and risk costs [2]. - The adjustments are intended to reshape customer relationships, moving from a reliance on installment fees to enhancing customer loyalty through diversified services [2]. Group 3: Impacts on Banks and Customers - In the short term, banks may face challenges such as slowed growth in installment business scale and direct impacts on fee income [3]. - Long-term benefits include improved asset quality and a shift towards digital and refined customer operation models [3]. - Customers with lower credit qualifications may experience tighter installment qualifications and reduced favorable rates, while overall transparency in installment costs and repayment terms is expected to improve [3]. Group 4: Recommendations for Banks - Banks are encouraged to integrate financial services deeply into diverse consumption scenarios, moving beyond traditional "payment + installment" frameworks [4]. - Enhancing digital service experiences through financial technology and personalized services is recommended, utilizing big data and AI for better risk pricing [4]. - Innovation in products and models is essential, with flexible installment options and increased customer autonomy in repayments [4]. - Ongoing customer education on financial knowledge and responsible borrowing is crucial to foster a rational consumption mindset [4].

Core Viewpoint - The credit card business of commercial banks is entering a critical phase of stock competition and deep transformation, with multiple institutions adjusting their installment business rules, raising market attention [1][2]. Group 1: Industry Adjustments - On October 22, Everbright Bank announced it will officially discontinue the "self-selected installment" service starting December 9, 2025, affecting previously activated accounts but not impacting outstanding installment transactions [1]. - Industrial and Commercial Bank of China (ICBC) will optimize its credit card installment and consumption transfer installment services, ceasing long-term installment options exceeding 36 months, effective December 5, 2025 [1]. - The concentrated actions of various banks outline a clear trajectory of industry adjustments [1]. Group 2: Factors Driving Changes - Regulatory requirements are compelling banks to adjust installment business rules, ensuring compliance and preventing excessive credit issuance [2]. - Banks aim to optimize credit structures and control financial risks, as rising credit card delinquency rates necessitate adjustments in installment fees, terms, and entry thresholds [2]. - The need for sustainable development is pushing banks to shift from aggressive growth strategies to refined financial management and pricing strategies [2]. - The adjustments are intended to reshape customer relationships, moving from a reliance on installment fees to enhancing customer loyalty through diversified services [2]. Group 3: Impacts on Banks and Customers - In the short term, banks may face challenges with slowed growth in installment business and reduced fee income, but long-term benefits include improved asset quality and a shift towards digital and refined customer operations [3]. - Customers with weaker credit profiles may experience tighter installment qualifications and reduced favorable rates, while overall transparency in installment costs and repayment terms is expected to improve [3]. - The credit card business is transitioning from a focus on scale expansion to a more detailed approach, evolving into a comprehensive financial service platform [3]. Group 4: Recommendations for Banks - Banks are encouraged to integrate financial services deeply into diverse consumption scenarios, providing comprehensive solutions that combine payment, installment, and benefits [4]. - Enhancing digital service capabilities through financial technology, utilizing big data and AI for personalized service, and implementing differentiated risk pricing are recommended [4]. - Innovation in products and models, such as flexible installment options and customer education on rational borrowing, is essential for improving customer experience and maintaining profitability [4].

Core Insights - The recent personnel changes at the credit card center of Guangfa Bank have attracted industry attention, with the new general manager expected to be Kuang Bo, currently the general manager of the retail financial department at the bank [1][2] - This change is part of a broader trend, as two other joint-stock banks have also recently appointed new leaders for their credit card centers, indicating a wave of leadership transitions in the sector [1][3] Personnel Changes - Kuang Bo is set to replace Jin Qian, who has been serving as the general manager of the credit card center in addition to his role as chief credit officer [2] - The approval of new general managers for the credit card centers at China Minsheng Bank and Ping An Bank has been confirmed by regulatory authorities [4][12] Industry Trends - The credit card industry is facing significant challenges, with the total number of credit cards and combined credit cards declining for 11 consecutive quarters, dropping by 12 million cards compared to the end of the previous year [11] - Guangfa Bank's credit card overdraft amount decreased from 424.88 billion yuan at the end of 2023 to 392.84 billion yuan, marking a significant decline [11] - Minsheng Bank reported a reduction in credit card loans and overdrafts, with total amounts decreasing from 477.25 billion yuan to 449.90 billion yuan [12] Performance Metrics - Guangfa Bank's credit card non-performing rate increased to 2.19%, up by 0.6 percentage points from the end of 2023 [11] - Minsheng Bank's credit card non-performing rate rose from 3.28% to 3.68% [12] - Ping An Bank's credit card receivables decreased by 9.23% to 394.87 billion yuan, while its non-performing rate improved to 2.30% [12][13] Consumer Behavior - The decline in credit card usage is attributed to the rise of mobile payments and changing consumer habits, with a shift towards smaller, more frequent transactions [11][13] - Analysts suggest that credit cards need to evolve beyond mere payment tools to become comprehensive financial service platforms that integrate credit management and consumer rights [14]

Core Viewpoint - The article highlights the surge in consumer spending during the extended holiday period, prompting banks to launch various credit card promotions to capture market share, while emphasizing the need for a long-term strategy beyond short-term marketing tactics [1][5][7]. Group 1: Consumer Trends - During the holiday season, domestic travel intentions increased by 30% year-on-year, and outbound travel demand grew by over 40% [1]. - Banks are responding to this consumer enthusiasm by offering targeted credit card promotions that include discounts, cashback, and exclusive offers across various spending categories [1][3]. Group 2: Bank Strategies - Major banks such as Bank of China, Agricultural Bank of China, and China Merchants Bank have introduced special credit card offers for the holiday season, focusing on travel, shopping, and dining [3][4]. - For instance, Bank of China launched a "Double Festival Global Travel" campaign, providing significant discounts and cashback for cardholders traveling to popular destinations [3]. Group 3: Marketing Effectiveness - Analysts note that promotional strategies like cashback and discounts effectively meet immediate consumer needs and can significantly boost credit card usage during holiday periods [5][9]. - However, there is a call for banks to integrate these short-term promotions with a sustainable long-term benefits system to enhance customer loyalty and usage frequency [5][9]. Group 4: Industry Challenges - Despite the promotional activities, the credit card industry faces growth challenges, with many banks reporting a decline in transaction volumes compared to previous years [7][8]. - For example, while China Merchants Bank led the industry with a transaction volume of 2.02 trillion yuan, it still experienced an 8.54% decrease year-on-year [7]. Group 5: Future Directions - Banks are focusing on transforming their credit card business by optimizing customer acquisition strategies and enhancing service offerings to adapt to changing market conditions [8][10]. - There is an emphasis on deepening the integration of credit cards into everyday consumer scenarios and improving risk management through advanced data analytics [9][10].

Core Viewpoint - The credit card market in China is experiencing a significant decline, with a reduction in total credit card numbers and usage among younger generations, driven by the rise of mobile payment alternatives and banks' tightening credit policies [1][2][5]. Market Shrinkage - From 2022 to 2025, the total number of credit cards in China is expected to decrease from 807 million to 715 million, a loss of nearly 100 million cards [1][2]. - In 2025, the first half of the year saw a reduction of 12 million credit cards, with the per capita cardholding dropping from 0.54 to 0.52 [2]. - The total credit card loan balance of 14 listed banks shrank by 197.8 billion yuan in the first half of the year, equivalent to the total assets of a medium-sized city commercial bank [2]. Declining Usage Among Young Consumers - The usage rate of credit cards among individuals born in the 1990s has dropped by 29 percentage points over five years [2]. - Young consumers express dissatisfaction with credit card penalties, citing high late fees and preferring direct payment methods linked to savings accounts [1][2]. Impact of Mobile Payments - Mobile payment solutions like Alipay's Huabei and JD's Baitiao have diverted 35% of credit card usage scenarios, contributing to the decline in credit card transactions [1][2]. Rising Non-Performing Loans - Several major banks have reported an increase in credit card non-performing loan ratios, with notable increases at Industrial and Commercial Bank of China, China Construction Bank, and Agricultural Bank of China [3]. - The balance of non-performing credit card loans at China Communications Bank grew by 25.73%, the highest increase among peers [3]. Banks' Strategic Responses - Banks are adjusting their strategies to focus on high-end customer segments and localized operations to enhance service quality [4]. - China Construction Bank is promoting consumer finance initiatives to stimulate demand in sectors like automotive and home improvement [4]. - Citic Bank reported that 55.48% of new credit card customers in the first half of the year were from high-quality segments, reflecting a shift towards targeted customer acquisition [4]. Industry Trends - The credit card business is undergoing a transformation characterized by differentiation and a focus on sustainable practices, with banks emphasizing risk management and cost control [5].

Core Viewpoint - The credit card business of several listed banks in China is experiencing a contraction in loan balances and transaction volumes, with some banks facing rising non-performing loan balances and rates [1][4]. Group 1: Credit Card Loan Balances - The total credit card loan balance of 15 listed banks reached 7.56 trillion yuan, a decrease of 196.1 billion yuan or 2.52% compared to the beginning of the year [2]. - Among these banks, 11 reported varying degrees of contraction in their credit card loan balances, with China Bank showing the most significant reduction of 13.88% [2]. - Only four banks, including Industrial and Commercial Bank of China and Agricultural Bank of China, managed to achieve growth in their loan balances [2]. Group 2: Credit Card Transaction Volumes - The total credit card transaction amount for 12 banks was 11.47 trillion yuan, reflecting a year-on-year decline of 11.05% [2]. - Notably, China Bank and China Everbright Bank experienced transaction declines exceeding 18%, while several other banks saw reductions around 5% [2]. - Seven banks reported transaction amounts below 1 trillion yuan, with China Merchants Bank being the only bank exceeding 2 trillion yuan in transactions [2]. Group 3: Factors Influencing Contraction - The contraction in credit card loan balances and transaction volumes is attributed to multiple factors, including banks tightening credit for high-risk customers and shifting resources to corporate lending [3]. - Sluggish consumer demand and the adjustment of the industry ecosystem, including the rise of internet credit, have also contributed to the decline [3]. - The reduction in credit card benefits has led to a loss of "sheep wool party" customers, further decreasing business scale and activity [3]. Group 4: Loan Quality Pressure - Eleven banks reported a total non-performing loan balance of 162.69 billion yuan, an increase of 3.75% since the beginning of the year [4]. - Notably, banks like China Merchants Bank and Industrial and Commercial Bank of China saw significant increases in their non-performing loan balances, at 25.73% and 10.01% respectively [4]. - The rise in non-performing loans is linked to weakened repayment capabilities among small business owners and the spillover risks from the real estate sector [4]. Group 5: Industry Transformation - The credit card market is transitioning into a phase focused on customer retention and value extraction rather than mere expansion [5]. - The industry is expected to face a critical transformation period by mid-2025, with a focus on digital transformation and refined operations [5]. - Banks are shifting their strategies from acquiring new customers to enhancing the value of existing customers, emphasizing product innovation and quality [6]. Group 6: Future Directions - The future direction for credit card businesses includes refined risk management, focusing on customer lifecycle value, and creating differentiated ecosystems [6]. - There is a growing trend towards integrating retail services to enhance comprehensive financial service capabilities for high-end customers [6]. - The emphasis will be on managing high-risk customer segments dynamically and reducing reliance on interest income by embedding credit cards into consumer scenarios [6].

Core Insights - The credit card business in China's banking sector is undergoing a significant adjustment, shifting from an era of aggressive expansion to a focus on optimizing existing customer bases and asset quality [1][2][3] Group 1: Credit Card Business Performance - In the first half of 2025, 11 out of 15 listed banks reported a decline in credit card loan balances, with China Bank showing the most significant reduction of 13.89% to 510.97 billion yuan [2] - The total credit card loan balance for the 15 banks showed a mixed trend, with only four banks, including Industrial and Agricultural Banks, experiencing growth [2] - Credit card transaction volumes also declined, with a notable drop of 8.54% for China Merchants Bank, despite leading the sector with a transaction amount of 2.02 trillion yuan [3] Group 2: Bad Debt and Risk Management - The total bad credit card loans across 11 banks reached 162.69 billion yuan, an increase of 5.88 billion yuan from the beginning of the year, with notable increases in bad loans for banks like China Communications Bank and Industrial Bank [4] - Only three banks managed to improve their bad loan ratios, while eight banks, including China Merchants Bank and Industrial Bank, saw increases in their bad loan ratios [4] - The overall credit card market is experiencing a contraction, with the total number of credit cards decreasing to 715 million by Q2 2025, down from 727 million in Q4 2024 [5] Group 3: Strategic Adjustments and Future Directions - Banks are actively working to optimize asset quality and manage bad debts, with nearly a thousand bad loan transfer announcements made in 2025 [6] - The focus is shifting towards product innovation and differentiated competition, emphasizing quality over quantity in credit card offerings [6][7] - Strategies include targeting high-end customers and meeting basic customer needs, with an emphasis on enhancing customer experience and integrating credit cards with other retail banking services [7]

Core Viewpoint - The credit card business in China's banking sector is undergoing a significant adjustment, shifting from an era of aggressive expansion to a focus on optimizing existing customer relationships and managing risks [1][3]. Group 1: Credit Card Business Performance - In the first half of 2025, 11 out of 15 listed banks reported a decline in credit card loan balances, with China Bank showing the most significant reduction of 13.89% to 5109.69 billion yuan [3][4]. - The total credit card loan balance for the 15 banks showed a mixed trend, with only four banks, including Industrial and Agricultural Banks, experiencing growth [3][4]. - Credit card transaction volumes also declined, with a notable drop of 8.54% for China Merchants Bank, despite leading in transaction amounts at 20.2 trillion yuan [4][6]. Group 2: Bad Debt and Risk Management - The total bad credit card loans across 11 banks reached 1626.9 billion yuan, an increase of 58.85 billion yuan since the beginning of the year, with several banks experiencing significant rises in bad loan ratios [5][6]. - Only three banks improved their bad loan ratios, while eight banks, including major players like China Merchants Bank and Industrial Bank, saw increases in their bad loan ratios [5][6]. - The overall credit card market is adjusting, with the total number of credit cards decreasing from 7.27 billion to 7.15 billion [6]. Group 3: Strategic Responses and Future Directions - Banks are actively working to optimize asset quality and manage bad debts, with nearly a thousand bad loan transfer announcements made in 2025 [6][7]. - The focus is shifting towards product innovation and differentiated competition, emphasizing quality over quantity in credit card offerings [7][8]. - Strategies include targeting high-end customers and meeting basic customer needs, with an emphasis on enhancing customer experience and integrating credit cards with other retail banking services [8].

Core Viewpoint - The credit card sector in China is experiencing a significant decline, with various metrics such as credit card loan balances, transaction volumes, and the number of active cards showing downward trends, indicating a shift in consumer behavior and market dynamics [1][2][3]. Credit Card Loan Balances - The total credit card loan balance of 14 major banks reached 7.52 trillion yuan, a decrease of 197.57 billion yuan or 2.56% compared to the beginning of the year, with 11 banks reporting a decline [1][2]. - China Bank reported the largest decrease in credit card loans, down 13.88% to 522.50 billion yuan, while other banks like Ping An Bank and Industrial Bank saw reductions of 9.23% and 8.07%, respectively [2]. Credit Card Transaction Volumes - The total credit card transaction amount for 12 banks was 11.47 trillion yuan, reflecting a year-on-year decline of 11.05%, equivalent to a drop of 1.42 trillion yuan [2]. - The highest decline in transaction volumes was observed in China Bank and Everbright Bank, both exceeding 18%, while Construction Bank and Agricultural Bank experienced declines of around 5% [2]. Credit Card Circulation - The total number of circulating credit cards among 10 banks was 890 million, a decrease of 3.91 million cards compared to the previous year [3]. - Ping An Bank saw a net reduction of 6.26 million cards, a decline of 12%, while other banks like Industrial and Traffic Banks also reported significant reductions [3]. Credit Card Business Revenue - Credit card business revenue for several banks is in decline, with only four banks disclosing figures. For instance, China Merchants Bank reported a 4.96% drop in interest income and a 16.23% decrease in non-interest income [4][5]. - Other banks like Citic Bank and Everbright Bank experienced double-digit declines in credit card business revenue, with reductions of 14.61% and 21.3%, respectively [5]. Credit Card Non-Performing Loans - The non-performing loan (NPL) ratio for credit cards is on the rise for most banks, with Traffic Bank's NPL ratio increasing by 0.63 percentage points [6]. - As of mid-2025, China Merchants Bank maintained a stable NPL ratio of 1.75%, while Postal Savings Bank and Agricultural Bank reported lower ratios around 1.5% [6]. Changing Consumer Behavior - There is a noticeable shift in consumer attitudes towards credit cards, with many individuals opting to cancel excess cards, reflecting a trend towards minimalism in card ownership [7]. - Users are expressing dissatisfaction with the reduced benefits of credit cards, leading to a more selective approach in maintaining only essential cards [7]. Industry Outlook - Despite the overall contraction in the credit card market, there is potential for quality improvement and differentiation among banks, focusing on high-end customer needs and basic customer demands [8]. - Banks are actively pursuing differentiated strategies, such as promotional activities and product innovations aimed at enhancing customer engagement and satisfaction [8].