长沙晚报全媒体记者 陈星源 实习生 黄博煜 "手里好几张信用卡，付款时总能找到一张有活动的。"曾经，在周五用信用卡买咖啡省下几元钱，是长 沙上班族小王习以为常的消费乐趣。不过，这样的场景如今已越来越少见了。 作为银行拓展年轻客户、冲刺发卡量的"神器"，联名信用卡正在悄然退场。央行数据显示，截至2025年 三季度末，全国信用卡总量为7.07亿张，近三年累计减少近1亿张。业内人士指出，这标志着国内信用 卡业务已告别过去"跑马圈地"式的规模扩张，全面步入以降本增效、优化结构为核心的深度调整期。 银行信用卡正不断瘦身 记者了解到，此番行业的整体"瘦身"，最直观的表现便是联名信用卡的批量停发。2025年以来，国内信 用卡市场产品结构优化提速，国有大行与股份行的调整力度尤为显著。 例如，邮储银行宣布停发华润通联名卡，交通银行宣布停发天涯明月刀卡换发为Y-POWER黑卡等，中 信银行宣布停发QQ音乐等3款手游联名卡；11月，招商银行一次性停发12款信用卡，涵盖盒马联名卡、 VISA三体联名卡等产品，浦发银行更是宣布停止18款信用卡发行，包括银联世界技能大赛联名卡等主 题卡与联名卡。 这场联名信用卡收缩浪潮并非短期突发，而是 ...

Core Viewpoint - The Chinese credit card market is undergoing a significant transformation, moving from a phase of rapid expansion to a focus on value-driven competition due to various factors including declining consumer loan rates, the rise of internet-based overdraft products, and stricter regulatory policies [1][3]. Market Dynamics - As of the end of Q3 2023, the total number of credit cards and loan cards in China reached 707 million, a decrease of 8 million from the previous quarter and a reduction of approximately 100 million from the historical peak of 807 million in 2022 [1][2]. - The decline in credit card numbers has been attributed to the rise of consumer loans, which offer simpler and more cost-effective solutions compared to traditional credit card products [2][3]. - Consumer loan interest rates have been decreasing since November 2022, with the average rate dropping from around 4.2% to below 3% in 2024, making them more attractive than credit cards [2]. Regulatory Environment - Stricter regulatory measures have been implemented to control credit card issuance, credit limits, and fees, pushing banks to adopt a more cautious approach in their credit card strategies [3]. - The regulatory shift has led to a transition from a focus on scale to compliance, affecting how banks approach customer acquisition and credit card offerings [3]. Strategic Shifts in Banking - Banks are now focusing on refined operations rather than broad expansion, emphasizing high-quality service through improved risk management, targeted customer groups, and enhanced user experiences [4][5]. - There is a growing trend among banks to integrate credit card services with consumer loans, which may impact the overall performance of credit card businesses [3][4]. Targeting High-Value Customer Segments - Banks are concentrating on high-value customer segments such as high-income individuals, stable employment groups, and specific industry professionals to enhance customer loyalty and profitability [7][8]. - The focus on these segments is driven by their strong consumption potential and lower risk profiles, allowing banks to design differentiated benefits and services [7][8]. Technological Integration - The use of AI and big data is becoming increasingly important in customer segmentation and operational efficiency, enabling banks to optimize asset structures and improve customer experiences [9].

距离2025年收官不足一个月，一场围绕信用卡分期的营销热潮正在火热上演。12月1日，据北京商报记 者梳理发现，从国有大行到股份制银行至地方中小银行，各类机构纷纷抛出"利率折扣""消费立减"等优 惠，将信用卡分期业务推向年度营销的"C位"。在用户增长见顶的存量博弈时代，这场密集让利的背 后，是银行试图通过分期业务深挖存量客户价值，开辟零售信贷领域新利润增长点的考量。与此同时， 行业转型的信号也在持续释放，部分银行相继下线自选分期、停办超长分期业务，标志着信用卡行业正 彻底告别粗放式增长，迈入"精耕细作"的全新周期。 为防范潜在风险、提升业务质效，在营销热潮如火如荼之际，部分银行的业务调整公告亦引发市场关 注。光大银行近日称，为优化分期业务，该行将于2025年12月9日（含）起下线自选分期业务。届时， 该行将对该日期前已申请开通"自选分期"功能的信用卡统一关闭该功能，新入账交易不再进行自动分期 处理。未结清的分期交易不受影响，用户仍需按原分期还款计划履约，具体应还款额以账单展示为准。 10月21日，工商银行发布《关于中国工商银行信用卡账单分期、消费转分期业务分期期数调整的提 示》，宣布对信用卡账单分期、消费转分期 ...

Core Insights - The credit card industry in China is undergoing a transformation from rapid expansion to a focus on refinement and optimization, with a significant reduction in the number of credit cards issued over the past three years [1][4][10] Market Trends - The total number of credit cards in China has decreased by over 90 million in recent years, with the current total at 715 million as of June 2023, marking a decline for 11 consecutive quarters [4][10] - Major banks have reported declines in credit card loan balances and transaction volumes, with specific examples including a reduction of approximately 20 billion yuan in credit card loan balances at China Merchants Bank and a 4.87% decrease at Citic Bank [4][10] Consumer Behavior - Consumers are increasingly selective about the credit cards they retain, with many choosing to cancel cards that are not frequently used or do not offer sufficient benefits [3][8] - The trend of consumers consolidating their credit cards reflects a demand for more tailored services, as many users now prefer to maintain only a few cards that meet their needs [8][9] Regulatory Environment - Regulatory policies have shifted to promote healthier credit card business practices, discouraging banks from focusing solely on the number of cards issued and requiring a reduction in dormant cards [7][10] - The introduction of regulations has led to a more cautious approach in card issuance, moving the industry from a phase of aggressive expansion to one of careful management and refinement [7][10] Competitive Landscape - The rise of alternative payment methods, such as "Huabei" and "Baitiao," has diverted users away from traditional credit cards, particularly among younger demographics [7][8] - Banks are adjusting their strategies to better align with consumer trends, focusing on product innovation and enhancing customer experiences to remain competitive in a shrinking market [10][12] Strategic Adjustments - Banks are exploring new consumer segments and adjusting their offerings, such as increasing installment credit for home renovations and targeting specific demographics like the elderly and young consumers [12][13] - Recent regulatory changes have allowed for more flexible credit card terms, including adjustments to overdraft interest rates, which may enhance the appeal of credit cards in a competitive market [13]

Core Viewpoint - Recent adjustments in credit card installment services by multiple banks signal a significant transformation in the industry, moving from a scale-driven approach to a value-driven strategy, emphasizing compliance and quality [1][4]. Summary by Sections Credit Card Installment Business Adjustments - Banks like Industrial and Commercial Bank of China and Everbright Bank have announced the cessation of installment plans exceeding 36 months and the discontinuation of self-selected installment features, indicating a shift in operational strategy [1][3]. - Everbright Bank will terminate its self-selected installment service on December 9, 2025, affecting new transactions while existing installment agreements remain unchanged [2]. - Industrial and Commercial Bank of China will stop offering installment plans longer than 36 months starting December 5, 2025, as part of its risk management strategy [3]. Reasons for Adjustments - The adjustments are aimed at optimizing risk structures and enhancing business compliance, responding to regulatory guidance to manage consumer debt levels effectively [3][4]. - The changes are also intended to reduce potential non-performing assets and improve capital efficiency, addressing the complexities of long-term debt management [3]. - The adjustments reflect a threefold consideration: responding to regulatory requirements, optimizing product structures, and reducing overall costs amid narrowing net interest margins [3]. Industry Transformation - The credit card industry is transitioning from a growth-focused model to one centered on risk control, scenario-based services, and user experience, marking the end of aggressive market expansion [4]. - The current market dynamics show a decline in total credit card numbers, while leading institutions maintain stable growth in card circulation, contrasting with the declining balances faced by smaller banks [4]. - Future industry directions should focus on digital integration, service ecosystem development, and deepening customer value to achieve a qualitative leap from quantity to quality [4].

Core Viewpoint - A significant security breach involving organized and technical credit card fraud has affected hundreds of Shanghai Pudong Development Bank (SPDB) Mastercard "Red Sand" credit card holders, revealing serious vulnerabilities in the credit card security system and highlighting a deeper crisis within the industry [1][4][10]. Group 1: Incident Overview - The fraud incident began on September 9, with amounts ranging from thousands to tens of thousands of yuan, primarily occurring in Brazil [1]. - Even canceled credit cards were targeted, with one user experiencing unauthorized transactions exceeding their credit limit [1][4]. - The attack demonstrated a high level of organization and technical sophistication, with victims located across various regions, including New Zealand [1][4]. Group 2: Industry Context - The credit card industry is facing a downturn, with a market size of 7.56 trillion yuan and a decline in issuance volume for 11 consecutive quarters [1][16]. - Despite this, SPDB's credit card loan balance grew by 2.07% to 377.88 billion yuan, making it one of the few banks to achieve positive growth during this period [10][15]. - The growth is attributed to an innovative "credit card + debit card" dual issuance model, which has improved customer acquisition and retention [10]. Group 3: Security and Risk Management - The incident has raised serious questions about the effectiveness of existing risk control measures, as traditional security protocols failed to prevent the attacks [4][8]. - Many cardholders reported that their security settings, such as overseas locks and limit controls, were ineffective, indicating a potential breach of system-level access [8][10]. - SPDB acknowledged unauthorized transactions and initiated an emergency response, but the delay in public acknowledgment and initial response highlighted deficiencies in their security monitoring system [8][10]. Group 4: Customer Complaints and Service Quality - SPDB has received over 44,000 complaints, primarily related to issues such as unauthorized fees and unclear promotional rules [11]. - The bank's rapid growth in credit card issuance has not translated into improved service quality, raising concerns about the sustainability of its growth model [10][15]. - The overall asset quality indicators are troubling, with rising non-performing loan rates reflecting the risks associated with rapid expansion [15][16]. Group 5: Industry Transformation - The credit card industry is undergoing a fundamental shift from rapid expansion to value reconstruction, driven by regulatory changes and evolving consumer expectations [16][17]. - Many banks are closing credit card centers, indicating a strategic shift towards more localized and personalized service [16][17]. - Leading banks are exploring new strategies focused on localized management, deepening customer relationships, and enhancing risk control measures [17].

Core Insights - The credit card market is experiencing a significant decline, with various metrics showing a downward trend, including credit card loan balances, transaction volumes, and the number of active cards [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 [1][2] - China Bank reported the largest decline 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 decrease of 11.05%, equating to a loss of 1.42 trillion yuan [2] - The highest decline was observed in China Bank and Everbright Bank, with transaction volumes dropping over 18% [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, while Citic Bank experienced an increase of 6.37 million cards [3] Credit Card Business Revenue - Credit card business revenue is also on a downward trend, with only four banks disclosing figures. For instance, China Merchants Bank reported a 4.96% decline in interest income to 30.61 billion yuan [4][5] - Other banks like Citic Bank and Everbright Bank reported declines of 14.61% and 21.3%, respectively, in their credit card business revenue [5] Credit Card Non-Performing Loans - The non-performing loan (NPL) ratio for credit cards is rising, with the highest NPL ratio reported by China Merchants Bank at 1.75% [6] - Agricultural Bank and Postal Savings Bank reported the lowest NPL ratios at around 1.5% [6] Changing Consumer Behavior - There is a noticeable shift in consumer attitudes towards credit cards, with many users opting to cancel multiple cards, citing that they only need one or two [7] - The trend of "decluttering" credit cards is evident, as consumers express dissatisfaction with the reduced benefits associated with credit cards [7] Industry Outlook - Despite the overall contraction in the credit card market, there is potential for quality improvement and differentiation in competition [8] - Future strategies for banks include focusing on high-end customer needs and basic customer demands, with various banks launching targeted promotional activities [8][9]

Core Insights - The credit card industry in China is experiencing a significant downturn, with the issuance of credit cards declining for ten consecutive quarters, leading to a total of 721 million cards by Q1 2025, down from a peak of 807 million in 2022 [1][2][3] - The competitive landscape has intensified, with banks resorting to promotional tactics such as offering bicycles for credit card sign-ups, indicating a desperate attempt to attract customers despite the overall decline in card issuance [1][2] - The industry is facing increasing delinquency rates, with the credit card delinquency rate reaching 2.33% by the end of 2024, and overdue credit card loans totaling 123.96 billion yuan, marking a 26.31% year-on-year increase [3][4] Industry Trends - The credit card market has shifted from a growth phase to a phase of stock competition, where traditional customer acquisition strategies are failing, and banks are struggling to maintain cardholder interest [3][4] - Many banks are closing credit card centers, with over 40 centers shutting down since 2025, reflecting the contraction of the credit card business [4][5] - High-end credit card benefits are being reduced, with banks announcing cuts to various perks, including airport lounge access and mileage redemption rates, as they seek to manage costs amid declining card usage [4][5] Market Dynamics - The popularity of co-branded credit cards is waning, with many banks discontinuing nearly a hundred co-branded cards in 2024 due to low activity and the expiration of partnerships [5][6] - The industry is witnessing a significant increase in "sleeping cards," which are credit cards that have not been used for over 18 months, leading to a focus on cleaning up the cardholder base [12][14] - The introduction of digital payment solutions and alternative credit products is reshaping consumer behavior, with younger generations increasingly favoring mobile payment options over traditional credit cards [15][16] Future Outlook - The credit card industry is at a crossroads, needing to adapt to changing consumer preferences and technological advancements to remain relevant [20][21] - There is potential for innovation in credit card offerings, with banks exploring new technologies and personalized services to enhance customer experience and engagement [20][21] - The emphasis is shifting from sheer volume of card issuance to the quality of service and customer experience, indicating a need for banks to refine their strategies in the evolving financial landscape [20][21]

Core Insights - The credit card industry in China is experiencing a significant downturn, with issuance volumes declining for ten consecutive quarters, leading to a total of 721 million credit cards by Q1 2025, down from a peak of 807 million in 2022 [4][5][6] - Promotional activities, such as offering bicycles for credit card sign-ups, reflect the intense competition and pressure on banks to attract new customers, despite the overall decline in credit card usage [2][5] - The industry is shifting from a growth phase to a focus on existing customer retention and service quality, as the previous strategies of aggressive customer acquisition are no longer effective [5][24] Industry Trends - The credit card issuance cost has increased significantly, with costs reaching up to 200 yuan per card, compared to earlier years when no incentives were necessary [4][5] - Credit card delinquency rates have risen, with the overdue amount exceeding 123.96 billion yuan by the end of 2024, marking a 26.31% year-on-year increase [5][6] - The number of credit cards in circulation is decreasing, with over 40 credit card centers shutting down since 2025, indicating a contraction in the market [6][7] Market Dynamics - The market is now characterized by a "stock game" where banks must focus on retaining existing customers rather than acquiring new ones through incentives [5][24] - Many banks are reducing the benefits associated with credit cards, such as airport lounge access and other premium services, in response to the changing market conditions [6][7] - The trend of discontinuing co-branded credit cards is evident, with numerous banks ceasing to offer popular co-branded products due to low engagement and inefficiency [7][8] Future Outlook - The credit card industry is expected to evolve towards providing enhanced customer experiences and tailored services, rather than merely focusing on the volume of cards issued [19][24] - The integration of advanced technologies such as AI and big data is anticipated to play a crucial role in improving service delivery and customer engagement in the credit card sector [19][24] - Despite the challenges, credit cards remain a vital tool for consumer finance, with a total outstanding credit card loan balance of 8.71 trillion yuan, significantly higher than that of consumer finance institutions [19][24]

Core Insights - The domestic credit card market is undergoing significant changes, including reduced benefits, discontinuation of certain products, and closure of credit card centers, indicating a transformation in the industry [1][3][4] Group 1: Adjustments in Credit Card Benefits - Several banks, including China Merchants Bank and Everbright Bank, have announced adjustments to high-end credit card benefits, focusing on increasing usage thresholds, modifying point accumulation rules, and reducing high-cost benefits [2][4] - Specific changes include increased requirements for redeeming points for miles and adjustments to annual fee waivers, such as requiring a minimum spending threshold alongside points [2][3] Group 2: Discontinuation of Credit Card Products - Many banks, including Agricultural Bank of China and Postal Savings Bank, have stopped issuing certain credit card products, particularly co-branded cards in sectors like aviation and e-commerce, citing business strategy adjustments and service quality improvements [3][4] Group 3: Shift in Industry Focus - The credit card industry is transitioning from an expansion phase to a focus on optimizing existing customer value, emphasizing the need for banks to streamline inefficient products and concentrate on core customer segments [4][5] - Factors driving this shift include intensified competition in the credit consumption market, pressure on credit assets, and the need to adapt to consumer preferences for high-frequency, essential spending scenarios [4][5][6] Group 4: Future Development Directions - Future strategies will involve deepening customer engagement through tailored benefits for different customer segments, enhancing self-operated service coverage, and integrating credit cards with wealth management and private banking services [5][6] - The industry is moving towards a model that prioritizes quality over quantity, focusing on value contribution and improving comprehensive financial service quality for high-end customers [6]