The emergence of credit cards marks the arrival of an era of early consumption and painless consumption

According to a report, American man Walter Kavanagh holds 1,497 credit cards with a credit limit It is about 100 million yuan, but because of good management, all the cards have never been overdue. I used this huge sum of money to buy myself 21 properties, with a total value of more than 3.5 billion yuan. (Awesome, he is a god)

Yang Huiru used credit cards to earn eight times the dividend in two months.

I can’t help but sigh, they are all gods and idols to worship!

Credit card originated in the United States in 1915. At that time, it was a credit card. The purpose of its issuance was mainly to expand sales, and the economic relationship it reflected was a commercial credit relationship. By the early 1950s, this form of credit card, which existed as business credit, reached its peak.

As of the fourth quarter of 2017, my country's credit cards:

The number of cards issued has exceeded 588 million, with an average of 0.39 cards per capita and a total credit of 12.48 trillion. The average credit limit of the cards is 21,200 yuan, the credit balance payable is 5.56 trillion, and the total outstanding credit that is overdue for six months is 65.069 billion, accounting for 1.47 of the credit balance payable. The national credit utilization rate is 45, the credit card transaction volume exceeds 25 trillion, and each card has an average of more than 5 purchases per month

Whether it is in terms of card issuance volume, transaction volume, credit limit, overdraft amount or usage rate, it is indisputable. It is difficult to see that rigid market demand has given rise to a huge number of users. As the number of credit card issuances and transactions continues to increase, the credit limit and overdraft limit of credit cards continue to increase, and the utilization rate and overdue rate of credit cards continue to increase. At the same time, anxiety among credit card users also appears.

What are the anxiety disorders of credit card users?

1. Chaotic management: There are too many cards, and the billing date, repayment date, and repayment amount of each credit card are different, resulting in chaotic management.

2. Overconsumption: Often blind consumption, random consumption, ineffective consumption, excessive consumption leads to overconsumption

3. Assets and liabilities: There is no good awareness of card usage and standard card usage behavior , resulting in assets and liabilities.

4. Overdue credit reporting: Overdue credit reporting often occurs due to underpayment, wrong repayment, omitted repayment, forgetting to repay, and lack of money to repay.

Since there are so many pain points, why are so many people using it?

1. It can stimulate domestic demand and advocate consumer finance. Secondly, reduce cash and promote mobile payments.

2. Master high-quality customer resources for banks, interest income, merchant rebates, late fees, high handling fees, annual fee income, and cash withdrawal handling fees

3. For yourself In other words, you save the trouble of carrying cash, participate in various preferential and discounted activities, deduct points for consumption, improve personal bank credibility, make online consumption convenient and fast, financial investment, additional preferential treatment, no less than sexual use restrictions, reduce A debt of gratitude, with an overdraft credit limit, can solve urgent needs.

From policies to banks to personal benefits, the result is an altruistic act. The pain point is just the lack of in-depth understanding of financial products and their correct use; so credit cards are a double-edged sword. If you use it well, you will make money from debt; if you use it poorly, you will be saddled with credit card debt and become a card slave!

The total number of credit cards issued in China has grown at an annual rate of 11 since 2011, and it is predicted that by 2020, the number of credit cards issued will reach 851 million.

Internet giants are plundering across borders, with virtual credit cards emerging through Ant Huabei, JD Baitiao, and Tencent credit scores.

In the United States, the average number of credit cards per person is 3/ people; in China, the per capita number of credit card holders is 0.39 per person. The number of credit card holders in the United States is 10 times that of China, and China’s population is five times that of the United States. If China’s credit card market is to achieve the saturation level of the United States, , there is still room for at least 50 times, so in China, the future credit card market is huge.