According to the latest data released by the central bank, as of the end of the second quarter of this year, the total number of credit cards and loan cards combined was 677 million, a decrease of 10 million from the first quarter and a decrease of nearly 20 million from the beginning of the year. Judging from the interim report data disclosed by listed banks, changes in credit card stocks have diverged. Among banks that have disclosed credit data, most banks, such as ICBC, CCB, and Ping An, have drastically reduced their credit card stocks. Xue Hongyan, a special researcher at Sushang Bank, said that from the perspective of the financial market, the substitution effect of similar products is becoming more and more obvious, which has had a positive impact on credit cards. Individual bank credit card products are lagging behind in innovation and homogenization is serious. Under the strong impact of Internet credit payment instruments such as HuaBai and White Bar, young users have accelerated “disconnection”, and their willingness to use cards has declined markedly.

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