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According to the " "Research Report on Credit Card Usage and Brand Performance of Chinese Urban Residents" shows that the proportion of credit card holders in China has reached 36.9%, with the highest penetration rate in first-tier cities at 44.5%, second-tier cities at 35%, and third-tier cities (such as Changde and Mianyang), the credit card penetration rate is lower, but still reaches 17%. The main body of credit card users are middle- and high-income people and young and middle-aged people. The proportions of users among middle- and high-income people are 44.2% and 55.7% respectively, which is about twice that of low-income people (24.2%). The proportions of users among young people and middle-aged people are 40.9% and 37.8% respectively, which are also significantly higher than the elderly (15.2%) by more than 20 percentage points.

The credit card market has shown an obvious expansion trend in recent years, attracting a large number of new users and potential users. CTR survey shows that among existing credit card users, more than 20% (23.4%) are new users within one year. Among them, 73% of new users are young people, and 72% are highly educated people. In addition, among non-users of credit cards, 43.8% of residents have the intention to apply for credit cards in the future, and these potential customers are mainly young people. The injection of high-quality customer sources provides the possibility for the healthy development of the credit card business; and a considerable number of potential users provides endless power for the sustainable development of credit cards. The future development of the credit card market contains great potential.

The lack of credit consumption concept is the main obstacle. Although China’s credit card market is showing a booming scene, the CTR research report also shows that nearly 60% (56.2%) of non-credit card users do not consider applying. Credit cards; and card issuers also face a high churn rate, with 10% of credit card users no longer using their credit cards. After in-depth analysis, it was found that the lack of traditional payment habits and credit consumption concepts are the main obstacles for consumers to accept credit cards.

For non-credit card users, the first reason they do not use credit cards is because cash or debit cards can meet their payment needs. The CTR survey shows that the proportion of non-users who are more accustomed to cash payments is Reaching 70% (70.8%), the proportion of people who think that debit cards are sufficient is also as high as 61.4%, which makes the overdraft function of credit cards meaningless to them; and many consumers are worried that using credit cards will cause daily expenses to get out of control. , nearly 60% of consumers said that they do not use credit cards because they “don’t want to owe money to others (including banks)”, while nearly 50% of consumers are worried that using credit cards will “spend a lot of money without knowing it”. In addition, the shortcomings of credit cards themselves, including security, high fees, high overdraft interest, and opaque fees, have also become obstacles for consumers to use credit cards.