每经记者｜潘婷 每经编辑｜董兴生 银行调整信用卡业务背后的深层次原因是什么？ 2026年2月，广发银行正式启动新一轮信用卡业务调整：2月1日起，停止发行广发航班管家联名卡、广 发高铁管家联名卡等5张联名信用卡；2月11日，将进一步下线广发乐享信用卡、广发乐享生活信用卡等 多款产品。 对此，日前，素喜智研高级研究员苏筱芮在接受《每日经济新闻》记者采访时表示："目前观察到，银 行在信用卡业务方面，正推动从狠抓'发卡获客'到'精耕存量'的经营策略转变，从关注数量到更看重质 量。" 《每日经济新闻》记者注意到，近年来，联名信用卡出现"批量消失"的现象，多家银行已陆续宣布停发 部分联名或主题信用卡产品。曾经，联名信用卡一直备受市场追捧，银行借助联名卡迅速扩充"版图"， 如今，"王者"失宠了吗？ 《每日经济新闻》记者注意到，广发银行此次停发一些信用卡并不是孤例。2025年至今，从国有大行到 中小银行，多家银行先后宣布停发部分联名信用卡。 例如，浦发银行"因业务策略调整"，从2025年12月18日起停止发行浦发魔J信用卡（银联版）、浦发英 雄联盟信用卡（亚索）等18款信用卡产品。 事实上，中小银行也有同样的动作。例如，20 ...

每经记者｜潘婷 每经编辑｜何小桃 董兴生 2026年2月，广发银行正式启动新一轮信用卡业务调整。2月1日起，停止发行广发航班管家联名卡、广发高铁管家联名卡等5张联名信用卡；2月11日，将 进一步下线广发乐享信用卡、广发乐享生活信用卡等多款产品。 《每日经济新闻》记者注意到，近年来，联名信用卡出现"批量消失"的现象，多家银行已陆续宣布停发部分联名或主题信用卡产品。曾经，联名信用卡一 直倍受市场追捧，银行借助联名卡迅速扩充"版图"，如今，"王者"失宠了吗？ 信用卡业务迎来调整背后的深层次原因是什么？素喜智研高级研究员苏筱芮在接受记者采访时表示："目前观察到信用卡正推动从狠抓'发卡获客'到'精耕 存量'的经营策略转变，从关注数量到更看重质量。" "近年来，信用卡步入精耕细作的盘整期，银行密集停发信用卡产品，表明信用卡行业处于激烈的市场竞争中。"苏筱芮指出，信用卡机构需要不断发力产 品创新及运营手段，及时调整产品、业务策略，在拉新与客户留存层面持续精进。 从关注数量到更看重质量 信用卡步入精耕细作的盘整期 据悉，广发银行此次信用卡业务调整分两个阶段实施。根据2025年12月14日发布的公告，自2026年2月1日起，由 ...

Core Insights - The trend of regional small and medium-sized banks ceasing the issuance of co-branded credit cards reflects a significant shift in the credit card industry from scale expansion to value-oriented operations [2][6] - The current credit card business has moved away from a high-growth phase, with banks focusing on channel consolidation, product standardization, intelligent risk control, and integration into consumer ecosystems [2][6] Group 1: Industry Trends - Multiple small and medium-sized banks have announced the suspension of co-branded credit card issuance, including major banks and regional banks, covering various sectors such as e-commerce, entertainment, and travel [2][4] - The cessation of co-branded credit cards indicates a broader industry transition towards refined operations and a focus on customer contribution and risk management capabilities [2][6] Group 2: Market Dynamics - The credit card market has entered a phase of stock competition, with limited new customer acquisition and high customer acquisition costs, leading to an imbalance in the cost-benefit ratio of co-branded cards [6][7] - As of the third quarter of 2025, the total number of credit cards and loan cards in China has decreased to 707 million, a drop of 100 million cards or 12% from the historical peak in June 2022 [7] Group 3: Strategic Adjustments - Banks are advised to focus on regional and customer characteristics to create differentiated products, shift towards refined operations for existing customers, and optimize cost structures through digital upgrades [7][6] - The need for banks to integrate financial services into everyday life scenarios is emphasized as a key factor for finding new growth opportunities in a competitive market [7]

Core Viewpoint - The article discusses the recent trend of banks, particularly in Zhejiang, ceasing the issuance of co-branded credit cards, indicating a shift in the credit card business from expansion to cost reduction and structural optimization [2][3][4]. Group 1: Recent Developments - Zhejiang Rural Commercial Bank announced the discontinuation of the "Harvest JD Co-branded Card" across multiple rural banks [1][3]. - A wave of credit card discontinuations has been observed, with various banks, including state-owned and joint-stock banks, halting the issuance of several co-branded credit cards [4][5]. - The trend of ceasing co-branded cards has been ongoing, with major banks like Agricultural Bank and Ping An Bank previously stopping numerous themed cards [4][5]. Group 2: Market Dynamics - The adjustments in credit card offerings are driven by economic slowdown and weak consumer expectations, leading to underperformance in card issuance and stagnant consumption growth [5]. - Banks are now focusing on high-value, high-loyalty consumption scenarios rather than blindly expanding their partnership networks [5]. Group 3: Channel and Product Adjustments - Banks are undergoing a "decluttering" process in both product offerings and distribution channels, with a focus on integrating online and offline services [6][8]. - Many banks are closing down offline credit card centers and merging credit card operations into retail banking departments to reduce management costs and enhance efficiency [6][7]. Group 4: Performance Metrics - The credit card industry is experiencing a decline, with the total number of credit cards in circulation dropping to 707 million, a decrease of 20 million from the previous year, marking the third consecutive year of decline [9][10]. - Over 70% of listed banks reported a reduction in credit card loan balances by mid-2025, indicating a significant contraction in the credit card business [10]. - For instance, China Merchants Bank reported a credit card transaction volume of 2.02 trillion yuan in the first half of 2025, down 8.54% year-on-year [10].

Core Viewpoint - The trend of banks discontinuing co-branded credit cards is increasing, reflecting changes in market dynamics and consumer behavior, leading to a focus on more efficient product offerings [1][4][7]. Group 1: Discontinuation of Co-branded Credit Cards - Guangfa Bank announced the discontinuation of five co-branded credit cards starting February 1, 2026, due to the expiration of cooperation agreements [1]. - Major banks, including state-owned banks and regional commercial banks, have also stopped issuing co-branded credit cards across various sectors such as e-commerce and travel [1][4]. - The phenomenon of discontinuing co-branded credit cards is becoming common, with banks like Zhejiang Rural Commercial Bank and Wuhan Rural Commercial Bank ceasing to issue specific co-branded cards [4][5]. Group 2: Market Changes and Challenges - The credit card market has become saturated, with many users holding multiple cards that are underutilized, prompting banks to streamline their offerings [7][8]. - The decline in the effectiveness of co-branded credit cards is attributed to changing market conditions, where banks struggle to maintain profitable partnerships with co-branding entities [7][8]. - The operational costs associated with maintaining co-branded cards, including high authorization fees and marketing expenses, have led banks to reduce their product lines [6][8]. Group 3: Organizational Adjustments - Banks are undergoing structural changes, closing down several regional centers and consolidating their credit card operations to improve efficiency [9][10]. - The integration of credit card functionalities into main banking apps is a trend, with institutions like Bank of China shutting down independent credit card apps to streamline services [9][10]. - The focus is shifting from acquiring new customers to enhancing the value of existing customer relationships through tailored services and benefits [10]. Group 4: Future Outlook - The total number of credit cards in circulation has decreased significantly, with a drop of approximately 1 billion cards, or 12%, from the peak in June 2022 [10]. - The future competitiveness of banks will depend on their ability to leverage credit cards to enhance retail service offerings and respond to evolving consumer needs [10].