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  • September 2, 2014
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  1. 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 ...

  2. News - World

    Nigella Lawson and Charles Saatchi ‘unconcerned by credit card bills’

    Posted Nov 29th 2013, 01:52pm by The Guardian in London

    ... monthly credit card bills of tens of thousands of pounds run up by their assistants to be “trivial matters”, with Saatchi becoming concerned only when the sums reached an average of £76,000 (HK$961,426) a month, a court has been told. Francesca and Elisabetta Grillo, two of five of the couple’s assistants to have company credit cards, were averaging bills of £48,000 and £28,000 a month ...

  3. Business - Banking & Finance - BANKING

    DBS says interest margin on credit cards shrinks as fee income rises

    Posted Jun 06th 2013, 12:00am by KANIS LI

    ... Kanis Li kanis.li@scmp.com DBS says interest margin on credit cards shrinks DBS Bank is earning less from interest rate differentials in its credit card business because of a rule change but income generated from fees in the same business is rising. Ken Chew of DBS Bank's consumer division in Hong Kong said the interest margin- a measure of profitability- on its credit card ...

  4. 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 ...

  5. News - Asia - JAPAN

    Mitsubishi UFJ credit card unit admits making loans to yakuza gangsters

    Posted Nov 06th 2013, 09:42pm by AFP

    ... Agence France-Presse in Tokyo Mitsubishi UFJ unit becomes latest company to admit making loans to yakuza; Mizuho led the way in September with loans worth US$2m Big credit card firm loaned ... of Japan, began a scheme two years ago to help financial companies scrub their books of links to gangsters. The agency buys the loans at a discount from the bank or credit card company, which must ...

  6. 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 ...

  7. Banking on debt

    Posted Apr 24th 2004, 12:00am by Patsy Moy

    ... Money houses are encouraging credit-card holders to borrow more, regardless of their ability to repay, trapping many in a spiral of liability, writes Patsy Moy When you are old and have ... rescuing that pushes a kind-hearted old person to draw on a credit card, perhaps two, for quick cash to solve the problem. But with no earning power, the trap is sprung and the victim is caught ...

  8. StanChart mulls over China partners

    Posted Mar 11th 2004, 12:00am by Staff Reporter

    ... in China.' The group also played down the significance of competing in the mainland's fast-growing credit card market. Executive director Mike DeNoma said the mainland market was 'virtually zero' compared with that of South Korea or the United States. 'The credit card market in China today doesn't exist,' he said. 'We projected China's credit market ...

  9. News - Hong Kong - CRIME

    Police smash Hong Kong credit card scam in citywide raids

    Posted Sep 12th 2013, 12:00am by Clifford Lo

    ... Clifford Lo clifford.lo@scmp.com Police bust credit card scam in citywide raids A Hong Kong-based syndicate which allegedly made fake credit cards and used them for shopping sprees has been broken up after two of its ringleaders and 11 members were arrested, police said yesterday. The credit card racket had been in operation for about two years and could have raked in as much ...

  10. 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 ...




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