New rules of CBRC may end credit card racing era

The Banking Regulatory Commission announced 27th, recently issued "Commercial bank credit card business supervision and management measures."　　The scheme prohibits the issuance of a credit card to minors under 18 years of age. On the single use of card-issuing amount of piecework commission assessment methods, one-sided introduction of business information, withholding important information, without the authorization of the customer to cross sales and other acts made a prohibition, and stipulated that the credit card is not activated by the cardholder, may not deduct any fees. The card issuing bank must inform the cardholder of the way of exceeding the limit fee, the method of calculation, the right to close the service, and so on, and should not repeat the surcharge in a billing cycle. Collection management, allowing commercial banks to the specific situation and cardholder equality consultation, the joint design of personalized repayment agreement, prohibit improper collection behavior.　　The commercial bank must carry on the On-the-spot investigation and the qualification audit to the special merchant, does not visit regularly and inspects, appears the fraudulent or the illegal trade merchant, promptly takes the spot investigation, the removal machine and so on the risk control measure. In addition, the "method" also requires commercial banks in different services to use customer information must obtain prior customer authorization, the transaction must be part of the card number to shield and so on. At present, the total number of credit cards in China has reached 210 million, 2010 annual credit card transactions amounted to 5.1 trillion yuan, of which the consumption amount of 2.7 trillion yuan.　　The CBRC's rules may mean that the credit card "horse-race" era of development is over, and banks will focus on the intensive cultivation of credit cards. "According to the State consulting article comprehensive collation analysis"