Bank of Qingdao issued its first credit card last September, and quickly hit 1.2 billion yuan in transactions for the rest of last year, according to its annual report.
“But we need to pay continuous attention to the fast growth of credit cards, and how concentrated the problem is in some of the more developed regions such as Beijing, Shanghai, Guangdong and Zhejiang where household leverage is higher than the national average.” “If you still refuse to pay back, your client manager will go to court to freeze your properties first and come talk to your bosses and parents.”Zhang Haiyan, a former banker at Bank of Communications’ credit card unit, last year started one such external credit card debt collecting firm.
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