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  • April 24, 2014
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  1. 'Bad bank' to tackle credit-binge hangover

    Posted May 22nd 2004, 12:00am by Staff Reporter

    ... Koreans went on a massive credit binge in the late 1990s, fuelled by easy credit as banks and credit card companies competed for market share. The banks were encouraged by the government, which ... and little experience managing credit, many South Koreans quickly spiralled into debt. LG Card, the country's leading credit-card issuer, was rescued with a US$4.2 billion bailout package ...

  2. Business - Banking & Finance

    Six Hong Kong banks offer spruced up credit card to cash in on summer spending

    Posted Jul 08th 2013, 12:00am by KANIS LI

    ... Kanis Li kanis.li@scmp.com Dah Sing aims to sell wealth-management products to holders to boost card revenue Banks dressup credit cards for the summer Summer means sun, sales in shops and the launch of new credit cards as banks seek to cash in on all that spending. Since last month, six banks- China Construction Bank (Asia), Industrial and Commercial Bank of China (Asia), Bank ...

  3. Business - Banking & Finance - BANKING

    Lenders tighten credit card curbs after HKMA reforms

    Posted Jul 03rd 2013, 12:00am by KANIS LI

    ... Kanis Li kanis.li@scmp.com Customers with bad debts will see fund limits cut or accounts terminated under reforms imposed by Monetary Authority Lenders tighten credit card curbs Banks will cut credit card limits or terminate the accounts of people who accrue bad debts under reforms to card fees and rates imposed by the Hong Kong Monetary Authority. Banks would be less willing ...

  4. Mainland credit card debt surges

    Posted Dec 01st 2009, 12:00am by Staff Reporter

    ... Daniel Ren in Shanghai Unpaid credit card debt on the mainland has surged 126.5 per cent this year, prompting Beijing to warn banks to ease back on aggressive marketing tactics that encourage people to sign up for new cards. By the end of September, 7.43 billion yuan (HK$8.43 billion) of credit card debt was at least six months overdue, the People's Bank of China said ...

  5. Immune system

    Posted Mar 01st 2005, 12:00am by Patsy Moy

    ... she discovered that $600 had been charged to her credit card by a health-care management company- without her consent and for a scheme that she hesitated to join. She was then furious to find ... by the company through her mobile phone and was duped into disclosing her credit card number to the salesperson. 'I don't know where they got my number from, and they called my mobile phone ...

  6. News - China

    Man sets himself on fire after bank reduces credit limit

    Posted Mar 01st 2013, 01:41pm by Chris Luo

    ... Chris Luo chris.luo@scmp.com A Zhejiang resident on Thursday set himself on fire in a bank after he was told it had reduced the amount of money he could use on his credit card, the Wenzhou Economic Daily reported on Friday. The man had visited a bank in Wenzhou to ask staff why his credit card limit had been restricted, the report said. Staff told him banks automatically reduce ...

  7. News - Hong Kong - CRIME

    19 held as fake credit card gang busted in joint probe

    Posted Jun 07th 2013, 12:00am by Clifford Lo

    ... Clifford Lo clifford.lo@scmp.com 19 held as fake credit card gang busted in joint probe A syndicate that made fake credit cards on the mainland and used them to shop in Hong Kong and Macau ... and Shenzhen, police said yesterday. A senior police officer said the syndicate had been operating for about a year and could have cost the credit card industry hundreds of thousands of dollars a month. ...

  8. News - Asia - JAPAN

    Japan teen runs up US$50,000 bar tab on dad’s credit card

    Posted May 28th 2013, 09:09pm by AFP

    ... Agence France-Presse in Tokyo A man whose teenage son ran up a US$54,000 credit card bill in a champagne-fuelled tour of Japanese girlie bars does not have to pay most of it back, a court ... with attractive women, whose job it is to laugh demurely at their host’s wit. There is no suggestion he paid for sex. Kyoto District Court ruled last week that bar owners and the credit card company bore ...

  9. Law aimed at equality for bank borrowers

    Posted Oct 14th 2009, 12:00am by Staff Reporter

    ... that mainland commercial banks were shouldering 4.97 billion yuan in unpaid credit card debt at the end of the first quarter of this year, an increase of 133.1 per cent year on year. PBOC deputy governor Su Ning said in June that one of the key factors behind unpaid credit card debt was the lack of an effective credit rating system. Having one in place would allow banks to gauge risks ...

  10. Business - Companies - CREDIT CARDS

    UnionPay seeks to turn tables on market leaders Visa and MasterCard

    Posted Mar 11th 2013, 12:00am by JANE CAI

    ... a subsidiary set up at the end of last year," Xu said. "In several years, the members hopefully would become our shareholders." The founding members are credit-card issuers, acquirers ... yuan-denominated credit cards independently on the mainland. The biggest challenge for UnionPay would come from the swift change in payment habits brought by technological advances. This would require ...




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