"每年可兑换的酒店权益只剩一晚，在机场的自营贵宾厅服务也没了。" 手持多家银行高端信用卡的资深用户小钟，对着已"缩水"的权益列表感叹道。这 并非个例，小钟手上有数张不同银行的高端卡，但权益均有不同程度缩水。 酒店、机场贵宾厅、接送机、里程兑换、健康权益⋯⋯这些曾经定义高端信用卡尊贵体验的核心权益，正在被银行逐一重新打量。年末将至，多家银行密 集发布公告，对明年高端卡权益进行削减或抬高门槛：无限次贵宾厅变为限量，积分兑换门槛抬高，附属权益悄然消失。 权益收缩风暴背后，是银行难以言说的"亏本账"。一次接送机成本数百元，而国内刷卡回佣率仅约0.3%，若客户仅做支付工具、不分期贷款，银行几乎无 利可图。更有"羊毛党"套利，进一步侵蚀利润空间。 业内人士坦言："单就信用卡业务看，高端卡其实不赚钱。"但作为识别高价值客户、撬动财富管理业务的"金钥匙"，高端卡并非独立盈利单元。 如何提升整体收益？在这场从规模扩张向存量经营的行业变局中，高端卡的故事，正在悄然改写⋯⋯ 1 权益收缩：贵宾厅限次、刷卡金提升兑换门槛 普卡、金卡、白金卡、钻石卡⋯⋯几乎每家银行信用卡都会有等级划分，此前白金卡一度被视为高端象征，但随着近年来部分银 ...

Core Viewpoint - The decline in credit card attractiveness among consumers, particularly younger individuals, is attributed to reduced benefits, increased redemption thresholds, and aggressive marketing tactics by banks [1][5][9]. Group 1: Consumer Experience - Many credit cardholders report a significant reduction in benefits, such as access to airport lounges and lower redemption rates for rewards, leading to dissatisfaction [3][4]. - The requirements for promotional offers have become more stringent, with higher spending thresholds and additional tasks needed to qualify for benefits, causing frustration among users [3][4]. - Complaints about the difficulty of redeeming points for rewards have increased, with many items quickly going out of stock or requiring more points than before [3][4]. Group 2: Bank Policies and Adjustments - Several banks have announced plans to adjust credit card benefits, including reducing the number of times certain perks can be used and eliminating popular rewards [4][5]. - The adjustments are primarily driven by banks' need to control costs and respond to low usage rates of certain benefits [5]. Group 3: Marketing and Consumer Trust - Aggressive marketing tactics, including misleading promotions and persistent sales calls, have led to a decline in consumer trust towards credit card offerings [6][7]. - Consumers have reported feeling pressured into unnecessary spending or services, such as installment plans, without clear communication of the associated costs [6][7]. Group 4: Market Trends - The shift in consumer preferences towards alternative credit products, particularly among younger demographics, is evident as they favor flexible, fee-free options that align better with their spending habits [9]. - Banks are encouraged to explore differentiated customer targeting and improve service offerings to retain and attract credit card users [9].

Core Viewpoint - Recent adjustments to high-end credit card benefits by multiple banks indicate a shift towards a more sustainable and long-term operational model in the credit card industry, reflecting the pressures faced by banks in a competitive market [1][4]. Group 1: Bank Adjustments - Several banks, including China Merchants Bank, Everbright Bank, and HSBC China, have announced updates to their high-end credit card products, such as increasing usage thresholds and adjusting applicable ranges [1]. - China Merchants Bank's adjustments include changing the annual fee waiver conditions for its high-end credit cards, moving from "10,000 points for annual fee waiver" to "10,000 points + 180,000 yuan in rigid spending for annual fee waiver" [2]. - Over 10 banks have made similar adjustments to their high-end credit card benefits this year, with notable changes including the removal of airport lounge services and reductions in overseas spending cashback [3]. Group 2: Market Dynamics - The credit card market is entering a phase of stock competition, characterized by declining growth rates in card issuance and rising customer acquisition costs [3]. - Experts suggest that banks are raising thresholds to filter customers, directing resources towards high-spending and high-contribution users, which may enhance overall profitability in the credit card sector [3]. - Since 2025, over 30 credit card centers have been closed, indicating a trend towards consolidation and efficiency within the industry [3]. Group 3: Expert Opinions - Analysts view the current adjustments not merely as a reduction in benefits but as proactive measures by banks to pursue sustainable business models and promote overall industry health [4].