The current global economic growth is slowing down, the credit card industry has entered a period of adjustment, and the epidemic has intensified. Under multiple tests, with the simultaneous improvement of scale and quality, GF Credit Card has shown strong development potential. As of the end of the third quarter of 2021, the non-performing ratio was 1.55, maintaining an excellent level in the industry.
Preventing and controlling financial risks has always been the focus of the battle to prevent and resolve major risks. As a member of China Life, a state-owned enterprise, GF Credit Card, under the guidance of party building, has actively implemented the "six stability" and "six guarantees" in recent years, striving to achieve a long-term balance of stable growth and risk prevention. For financial institutions, providing personalized, high-quality, safe and reliable credit and payment services to users across the country is the best embodiment of being people-centered and doing practical things for the masses. It is also the practice of the Central Economic Work Conference on “implementing the strategy of expanding domestic demand and enhancing endogenous driving force for development”.
As the industry enters a new stage of development, Guangfa Credit Card still shoulders the responsibility and responsibility of the "first echelon" leader. The overall management model has evolved from service model, risk control model, channel model, and market model. Transformed from the inside out. Create a unique credit card center in terms of experience, security, products and services, and explore a new operational management path for the adjusted credit card industry.
Industry risks are gradually emerging.
In the mid-1980s, with the deepening of reform and opening up and the rapid development of the economy, people's consumption horizons gradually broadened, their desire to consume increased, and consumer demand that had been suppressed for many years showed a sharp upward trend. Under this circumstance, credit payment instruments initially have the market environment for their birth in China. In 1985, China began to explore the credit card business. Due to policy restrictions and the lack of a personal credit system, only "deposit first and loan later" credit products were issued, which were called "quasi credit cards" at the time. In 1995, China Guangfa Bank combined its international experience and took the lead in launching a real credit card that complies with international standards in China - VISA credit card, truly realizing consumption first and repayment later. For China, which was in urgent need of releasing consumer demand, this was not just a card, but a vehicle that truly pushed China into the era of credit consumption.
With the increase in per capita disposable income, the trend of consumption upgrading has emerged, and the industry is also experiencing an explosion. Taking 2017 as an example, according to the 2017 payment business statistics released by the People's Bank of China, the total number of credit and debit cards used in 2017 was 588 million, a year-on-year increase of 26.35%, and the growth rate hit a new high.
Risk and prosperity often arise in combination, and rapid development conceals the undercurrent of risk to a certain extent. The economic environment in 2020 will be greatly affected by the superimposed impact of the epidemic. The repayment ability of some industries has declined, and credit card loan risks have continued to be exposed.
However, there are also card issuers with better risk control, such as China Guangfa Bank Credit Card. Data shows that from 2016 to 2018, the non-performing rate of CGB credit cards has declined for three consecutive years, and the risk indicators are all better than the industry level. In 2020, affected by the epidemic, the non-performing rate of CGB credit cards was 1.56, which is far lower than the industry average.
Predict risks in advance and achieve a soft landing
Because Guangfa Credit Card is sufficiently advanced in risk control, it can predict economic trends and brake in advance. In 2021, under the dual impact of the economic slowdown and the impact of the epidemic, the credit card industry has entered a period of adjustment as accumulated risks are gradually exposed. Robust risk control has laid the foundation for the high-quality development of Guangfa Credit Card during the industry adjustment period, and various risk indicators are also better than the industry level.
Technology empowerment, risk control, and safeguarding new growth
The "14th Five-Year Plan" proposes the task of accelerating digital development and building a Digital China. For the credit card industry, accelerating digital transformation and leveraging the power of technology to optimize customer acquisition, risk control, service and other models are accumulating energy for the next round of development of the credit card industry. However, the complex external environment
In this context, while improving business scale and quality, GF Credit Card has strengthened its analysis of economic cycles and achieved forward-looking management of business development strategies.
It uses sophisticated model strategies to assist the entire process of risk control, deepens the empowerment of data-driven technology, expands scenario management to focus on customer perception, and takes the lead in formulating and implementing risk strategies in the industry, thereby ensuring the high-quality development of CGB's credit card business in recent years.
Leverage synergy to build a solid bottom line for retail development.
As the vanguard of CGB’s retail transformation, CGB Credit Card has also given full play to its risk synergy advantages. Under CGB's "emphasis on retail" strategy, CGB deeply integrates and cooperates with other retail businesses, uses risk resources to synergize to build the bottom line of large retail development, and uses data resources to synergize to support the bank's retail business.
In terms of risk coordination, GF Credit Card leverages its digital operation experience and capabilities, thinks about digital transformation from the bank's development pattern, exports model development technology, project experience and resources to the whole bank, and cooperates with retail credit to develop "interest rate" Risk models such as “sensitive marketing model” and “unit level scoring model”. In terms of data collaboration, GF Credit Card’s refined operational capabilities in data-driven decision-making have enabled in-depth collaboration between the credit card business and other retail business sectors, promoting the digital transformation of retail customer service and marketing.
Guangfa Credit Card will continue to play a leading role in comprehensive finance, seize the opportunity on the track of retail transformation, and write a new chapter in a new round of high-quality development.
(CIS) related questions and answers: How to cancel Guangfa Bank credit card Guangfa Bank credit card cancellation method: 1. Cancellation at a Guangfa Bank branch: Bring the credit card and ID card you want to cancel to any Guangfa Bank branch You can log out. This is the safest way to cancel a credit card. 2. You can call the official customer service hotline of Guangfa Bank Credit Card to cancel the credit card: dial the toll-free customer service hotline of Guangfa Bank 95508, press 1-0 to receive manual service, and ask Guangfa Customer Service to cancel the credit card for you. This way of canceling a credit card is more convenient and faster. Guangdong Development Bank was established on the banks of the beautiful Pearl River as a pilot bank for China's financial system reform. It is one of the earliest joint-stock commercial banks in China.
Extended information: Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (Billing Date). Credit cards are divided into credit cards and quasi-credit cards. A credit card refers to a credit card in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; a quasi-credit card refers to a credit card in which the cardholder can A quasi-credit card that deposits a certain amount of reserve fund and can be overdrafted within the specified credit limit when the reserve account balance is insufficient for payment. The so-called credit card generally refers to a credit card only. Compared with ordinary bank savings cards, the most convenient way to use a credit card is that you can make ordinary purchases without cash in the card. In many cases, you only need to return the consumed amount on schedule. You can make overdrafts without deposits, and enjoy an interest-free period of 20-56 days for on-time repayment without charging any interest (most banks will charge an interest of 50,000 cents on the day of cash withdrawal, as well as a handling fee of 2%, ICBC There is no handling fee for cash withdrawals, only interest is charged). Swiping your card when shopping is not only safe and convenient, but also provides points for gifts. You can enjoy discounts when you use the card at the bank's designated merchants. Build personal credit and add a record of integrity to your credit file that will last a lifetime. It is accessible throughout the country and can be used to withdraw money or make purchases by credit card at ATMs and POS machines with the UnionPay logo; (Note: Credit cards are only suitable for consumption, and it is best not to withdraw cash. The cash withdrawal fee is very high and is not cost-effective) Consumption by credit card and some credit cards Earn existing points and enjoy various discounts and lucky draws throughout the year, so that you can always be surprised as long as you use the card; (most credit cards do not have points for online payment, but online shopping payment is very convenient and fast) Free mailing of statements every month allows you to Transparently control every consumption expenditure; (now promoting green environmental protection, paper statements can be canceled and changed to electronic statements) The unique supplementary card function is suitable for couples to manage finances together, or to control the financial expenditures of their children. The free choice of one card and dual currencies is available all over the world, and overseas consumption can be repaid in domestic RMB. 400 or the 5-digit short number starting with 9 is available 24 hours a day. Loss reports are effective immediately and there is zero risk of losing the card. Validity period: It is known that domestic credit cards are generally valid for three or five years.
Utilize third-party platforms (the domestic platform that supports credit card bill management is mainly Jujindou) for business cooperation and provide cardholders with preferential services. Related Q&A: How about China Guangfa Bank credit card?
Guangfa’s magic card-DIY card
Annual card fee
Gold card: 80 yuan/year
Regular card: 40 Yuan/year
New card customers will be exempted from the annual fee for the first year, and will be exempted from the following year after spending 6 times
Guangfa DIY Fund, with an upper limit of up to 500,000
Optional Triple points for merchants: Catering and entertainment category: including various catering and entertainment merchants Shopping category: including department stores, supermarkets, clothing, shoes and bags, etc. Travel category: including air tickets, hotels, vacations, tourism and other merchants Remarks: If you only choose one category, it is free; if you choose more than one category, the fee will be deducted at RMB 29 per year for each category. (Don’t be stingy with 58 yuan, otherwise you will regret it for the rest of your life~)
Catering and entertainment categories include: dining venues and restaurants (5812), fast food restaurants (5814), drinking venues (bars, pubs, nightclubs, cocktail halls) , discotheques) (5813), dance halls (7911), large game consoles and game venues (7994), amusement parks, circuses, carnivals, divination (7996), theatrical productions (excluding movies), performances and ticketing (7996) 7922), cinema (7832). Shopping categories include: large warehouse supermarkets (5411), large warehouse household goods stores (5200), department stores (5311), electronic equipment and home appliance stores (5732), sporting goods stores (5941), cosmetics stores (5977 ), beauty and barber shops (7230), health and beauty SPA (7298). Travel categories include: accommodation services (hotels, hotels, motels, resorts, etc.) (7011), sports and entertainment campsites (7032), passenger rail transport (4112), airlines (4511), travel agencies (4722), airport services ( 4582), ship and cruise route services (4411), car rental (7512), tourism and exhibitions (7991), direct sales of tourism-related services (5962). The upper limit of monthly bonus points: Guangfa DIY ordinary card: the same as the gold card, there is no difference, usually. Spend 200,000 yuan every month and triple the points to get ***600,000 points (no bonus points for spending more than 200,000 yuan per month). Extra points will be doubled for the whole month of your birthday, up to a maximum of 800,000 points
Points redemption: The DIY card has three times the points rights, which can be converted into cash by exchanging the spending limit. It is simple and crude, suitable for beginners.
If you spend 10,000 points, you will get 30,000 points, and 30,000 points = 60 yuan. Isn’t it great to earn 60 yuan in vain?
What if you spent 100,000 yuan last month? 300,000 points = 600 yuan. Don't be too happy.
Some things can only be imagined but cannot be expressed. At present, the cost of some chickens on the market is around 0.6. I believe some experienced drivers have already understood it.
Swipe a credit card to spend 10,000. At this time, You receive 9,940 yuan in cash, and 30,000 points can be used to deduct 60 yuan. You understand.
In one billing cycle, it is equivalent to free use for you. If you don’t need 9,940 yuan in cash for the time being, what about Yu’e Bao? There is also 1 yuan every day. It’s 30 yuan a month. What if you spend 50,000 yuan instead of 100,000 or 200,000 yuan?
Well, brave friends can also play with products with a profit of 10.
If you have a credit limit of 100,000 yuan, receive 99,400 yuan in cash, and 300,000 yuan in points to deduct 600 yuan, it will be lent to you interest-free in one billing cycle. You can make money in a month even if you have 100,000 yuan in hand. A few thousand maybe,