Everybody's getting scared? The number of credit cards decreased by 33 million in two years, and fixed deposits soared by 16.8 trillion yuan in one year

Blue and white view of the property market

2024-05-27 18:52Posted in Henan real estate field creators

Hello everyone, I'm Blue and White.

Recently, I have been receiving harassing phone calls, and there are about three types.

Either they are intermediaries pretending to be banks, saying that they can replace low-interest loans.

Either it's a mobile customer service who doesn't know whether it's true or not, and wants to upgrade my package.

Either Mr. Hello, you are a high-quality customer of our bank, and you meet the criteria for applying for XX credit card...

I usually say a few words of thanks, and I hang up quickly after a snap.

It's so miserable family, our daily social circle is these polite and polite sales calls, plus takeaway and express delivery.

To be honest, a few years ago, there were credit card salesmen, and I had to talk a few words, but now I don't have the heart to do so.

The friends around you have done everything they should do, no matter what co-branded card, platinum card, and point card you are now, you can't arouse the desire to get a card.

More than ten years ago, when I just graduated, I dragged someone on the street and asked, "Brother, do you have a card?" People are interested, and there are people who take the initiative to ask about a small stall on the side of the road.

At that time, one of my classmates carried a machine in his arms to sweep the building every day, and when he was good, he could earn tens of thousands of dollars a month, and he invited him to drink.

Later, pushing this set didn't work, and the tricks began to increase.

For example, the online diversion of various APPs, telephone bombardment, or the acquisition of customers in specific scenes of cinemas, supermarkets, and auto shows, and the co-branding of IP such as some celebrity animation and cute pets.

Today, let's start with credit cards and deposits, what has happened to the trend of "spending money" and "saving money" in our lives?

Let's start with credit cards.

Look at two sets of numbers:

1. The number of credit cards issued has dropped sharply.

According to the "Overall Operation of the Payment System in 2023" released by the central bank, as of the end of 2023, there were 767 million credit cards and debit cards, a year-on-year decrease of 3.89%.

In 2022, there will be 2 million fewer tickets, and in 2023, there will be 31 million fewer tickets, which is a bit exaggerated.

At the same time, it fell by 1.54% quarter-on-quarter, not only for five consecutive quarters of decline, but also for the largest decline.

The ICBC of the Universe Bank has decreased by 12 million, the China Construction Bank has lost 8 million, and Ping An Bank, Bank of Communications, and Pudong Development have also lost millions of tickets.

China Merchants Bank, which has the title of "King of Retail", has 5.59 million fewer tickets, falling below 100 million for the first time, which is more significant.

Why has the number of cards dropped so much since the fourth quarter of 2022?

An important reason is that a few years ago, banks frantically expanded their credit card business and engaged in too many zombie cards, and even Yang Ma couldn't stand it.

In July 2022, the People's Bank of China (PBOC) and the former China Banking and Insurance Regulatory Commission (CBIRC) issued a notice that banking financial institutions with a long-term dormant card rate of more than 20% are not allowed to issue new cards.

What is a sleep card?

According to the regulator, it is for credit cards that have been in a row for more than 18 months, have no active transactions, and have zero current overdraft balance and overpayment.

By the end of 2022, the live credit card rate was only 56.9%, which is far from the 20% requirement.

The transition period of this notice is until July this year, so in the first half of this year, the number of credit cards will continue to be compressed.

2. Cleaning up sleeping cards can explain the decline in card issuance, but it cannot explain the decline in transaction volume.

According to statistics from Brokerage China, the amount of bank credit card transactions will generally shrink in 2023, with 14 banks declining year-on-year.

Ping An Bank decreased by 610 billion yuan, or 18 percent, Industrial Bank decreased by 450 billion yuan, or 16.23 percent, and Everbright and Guangfa both decreased by more than 10 percent.

Why is the credit card not fragrant?

I think there are two reasons.

One is the impact of mobile payments.

In the era of advanced consumption before the epidemic, from the establishment of Ant Financial in 2014 to the launch of Huabei and Borrow, to 2019, a total of 1.7 trillion loans were issued.

Isn't there a saying, "The province, the flower, and the white strip of Huabei are all fragrant with credit cards", although there are many points in credit card activities, the tentacles of Internet giants are pervasive.

The second is that the previous overdraft was too fierce.

My former colleague, old and young, wife full-time with baby, pay off the mortgage every month, plus eating, drinking, tobacco and alcohol, raising a car, buying clothes and going out to play, from a card to seven or eight cards in hand, with cards to raise cards, snowballing nearly 200,000 owed.

The matter of debt, once born and twice cooked, when I owe twenty or thirty thousand, I am still a little worried, how long does it take to save to pay off? Later, I don't have to worry about a lot of debts, I don't have to itch a lot of lice, what should I do, I can tear it off right, I can't stand it, let you call the collection phone until it bursts, and you still eat well and sleep soundly.

Especially the big potholes accumulated in the past few years.

According to a report by the Bank of China Research Institute, at the end of 2023, the scale of China's batch of personal non-performing loans hit a new high of 47.52 billion yuan in a single quarter, a year-on-year increase of more than 6 times, of which credit card overdrafts accounted for 60.8%, which is a major source of non-performing loans.

I think that credit cards are not a flood beast, and there is no good or bad thing.

Some people use it as a tool to earn points, apply for cards and send things, eat and shop at discounts, and those who love to be careful can also earn a few days of interest on the repayment time.

Some people think of it as an illusory number, how do you say that? "With a sharp weapon, the murderous heart rises".

Everyone likes to eat, drink and be merry, but everything has a price.

When the bank lends you money, it is the old man who is kind and can't see the poor.

When it comes to collection, it's the Lannisters who have debts to pay.

Compared to the change of 33 million credit cards in two years, the number of savings fluctuates more dramatically.

In the past two years, if you have a little money in your hand, the savings period has become more and more crazy.

As of April 12, the 23 listed banks that have been announced in 2023 have a fixed deposit balance of 99.36 trillion yuan.

Compared with 82.57 trillion yuan in 2022, it increased by 16.8 trillion yuan year-on-year, an increase of 20.33%.

Li Qilin's report said that the proportion of time and demand deposits has risen from the "June Fourth Open" in 2017 to the current "Seven Third Open".

According to the data of Industrial Macro, in February 2024, the proportion of residents' fixed deposits in residents' deposits reached 72.1%, a new high since the data was available in December 2004.

As we all know, saving time or survival, dead money and living money, are two completely different mentalities.

Putting it on the current account is to take it as you go, and putting it on the regular account is to fight a protracted war and go for interest.

In a low-interest rate environment, people's psychology is to lock in long-term risk-free returns first.

That's interesting, the more you cut the interest rate, the lower the interest rate, and the more people who rob the regular period, the main one is a rebel.

When everyone goes to deposit fixed deposits, they can't grab large certificates of deposit, and the deposits deposited in the bank cannot be "activated".

Residents' deposits cannot be converted into current accounts, let alone corporate deposits.

Corporate demand deposits are the core part of M1.

This is the reason why M2 is growing high and M1 is negative.

It is precisely because of the severe beating of overdrafts and bursting cards, and the inability to see the direction of work income, that there has been a change in residents' attitudes towards spending and saving money.

A decrease in credit card transactions, an increase in non-performing rates, and a rush of deposit periods are just two sides of the coin.

It turned out that my parents said "save more money while you are young", "the poor are rich", "you can save if you can", "live within your means", and always feel that the older generation is too picky.

The so-called "words don't teach people, things teach people", after it becomes difficult to make money, the "law of true fragrance" will naturally come into play.

In the matter of spending money and saving money, I finally achieved "understanding parents, becoming parents, and surpassing parents." ”

Many people can disdain the slightly clumsy knowledge, insight, eloquence, and writing of their parents after reading two books.

However, don't take their experience lightly.

There is nothing wrong with spending money a little and saving money a little earlier.

Everyone wants to be a hero in the limelight, but the reality is often: in order to spend money and save money, for this broken silver taels, you can only be a bear in life, and the key is to be a careful bear.

I'm Lan Bai, I'm talking about this today, we'll see you next time.

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