The Business Times
The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

SUBSCRIBERS

Idle credit cards in Asia prompt banks' overhaul

Published Fri, Aug 19, 2016 · 09:50 PM
Share this article.

Hong Kong

FREE rice cookers and suitcases were among the special deals that tempted Chiu Wing-suet into accumulating her 20 credit cards, many of which are crammed into her wallet. She's unlikely to accept any more such offers.

"I've come to realise that most of my cards are useless," said the 30-year-old Hong Kong nurse. "I basically use only one card, for shopping and travel booking online."

The shifting attitude of Asian consumers such as Ms Chiu is upending the economics of the credit-card industry, and banks like Citigroup Inc, HSBC …

KEYWORDS IN THIS ARTICLE

Standard Chartered

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Banking & Finance

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here