In 1959, American Bank of America issued the American Bank Card in California. Since then, many banks have joined the ranks of card-issuing banks.
in the 196s, bank credit cards were quickly welcomed by all walks of life and developed rapidly. Credit cards became popular not only in the United States, but also in Britain, Japan, Canada and European countries. Since 197s, Hongkong, Taiwan Province, Singaporeans and Malaysians have also started to handle credit card business.
in the 196s, credit cards sprouted and developed rapidly in developed countries in Europe and America, such as the United States, Canada and Britain. After more than 5 years of development, credit cards have been widely accepted in more than 95% countries around the world.
in 198s, with the development of reform and opening up and market economy, credit cards, as electronic and modern consumer financial payment tools, began to enter China, and in the past ten years, they have developed by leaps and bounds.
after the financial crisis and the ups and downs of the domestic economy, China's credit card market picked up in 216. By the end of 216, the total number of domestic credit cards had exceeded 59 million. In 216, the national credit card consumption transaction amount reached 741.81 trillion, an increase of 1.75%, and the proportion of credit card consumption in the total retail sales of social consumer goods continued to increase.
According to the Analysis Report of China Credit Card Industry in-depth Investigation and Investment Strategic Planning in 213-217, since 21, in order to curb the excessive rise of asset prices and control inflation, the China government has implemented a prudent monetary policy and adopted a series of moderate austerity measures, which shows that macro-prudence and strengthening capital supervision have become the core of banking supervision in China, and various tightening money supply operations and capital restraint policies have had a profound impact on the liquidity level, credit supply rhythm and structure of China commercial banks.
The analysis shows that the evolution of the industry structure has further optimized and diversified the product mix, and also strengthened the research and development of new industry standards and mobile payment; Deepening credit penetration; Staging business is developing in depth.
in February p>212, the bank confirmed that credit cards are safer without passwords, and if they are stolen, they will share the responsibility with the bank. Enjoy an interest-free period of 25-56 days (or 2-5 days). Credit card consumption enjoys an interest-free period, and the bill amount will be paid off before the due repayment date, and no expenses will be incurred. There is no interest-free repayment period for cash withdrawal, and five ten thousandths of daily interest will be charged from the day of cash withdrawal, and the bank will also charge a certain percentage of cash withdrawal fee.
China's credit card market is still one of the fastest growing product lines in China's personal financial services market. Although the economic benefits of the industry are full of challenges, the average annual growth rate of credit card issuance in China will remain at around 14% in the next 1 years, and the profitability will also tend to improve. It is estimated that the cumulative number of credit cards issued in China will exceed 8 million by 22.