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  • July 23, 2014
  • Last updated: 7:22am
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  1. Credit card debt write-offs rise

    Posted Aug 17th 2006, 12:00am by Staff Reporter

    ... Maria Chan Rising bankruptcy petitions helped to drive up Hong Kong's annualised charge-off ratio for credit cards for the second consecutive quarter in the three months to June, the Hong Kong Monetary Authority said. The annualised charge-off ratio or the amount of credit card debt written off as proportion of total card debt rose to 3.28 per cent in the second quarter ...

  2. Take Action!

    Posted Apr 23rd 2007, 12:00am by Staff Reporter

    ... in to this shop and I tried to buy a small item that cost HK$50. When I went to pay I found I had only HK$20 in my purse so I tried to pay with my credit cards. 'The front desk girl refused and said they only accepted credit cards for HK$300 worth of purchases, so I asked about my EPS card. She said only if I spent HK$100. I asked for the manageress and explained that I needed to purchase ...

  3. Write-offs on BOC card debt fall below 5pc

    Posted Apr 22nd 2004, 12:00am by Christine Chan

    ... Christine Chan BOC Hong Kong (Holdings) said the total amount of credit-card receivables it had written off had shown a marked decline in the first quarter compared with a year ago, as unemployment and other economic indicators continued to improve. Credit-card spending has surged 30 per cent year on year in the first three months, as consumers' confidence returned, according ...

  4. Card delinquency ratio falls with stricter control regime

    Posted Nov 18th 2004, 12:00am by Staff Reporter

    ... Kelvin Wong Hong Kong's credit card delinquency ratio, a statistic first released in 1996, reached a historical low at the end of the third quarter, according to the Hong Kong Monetary Authority (HKMA). The ratio, which measures the amount of credit card receivables overdue for more than 90 days over that of total card receivables, stood at 0.55 per cent, down from 0.64 ...

  5. Firms forced to wait for credit card cash

    Posted Oct 27th 2008, 12:00am by Dennis Eng

    ... Dennis Eng Banks are making businesses wait two months to cash in their credit card receipts amid the credit crunch, and industry representatives want more direct government action ... cash-flow problems worse by taking 60 days to make credit card payments to businesses. Previously, this only took a few days. 'Many small businesses tell us that the situation with banks ...

  6. Watchdog targets credit card ploys

    Posted Aug 16th 2008, 12:00am by Dan Kadison

    ... Dan Kadison and Tiffany Lam Minimum spending limits and surcharges are prohibited, says Consumer Council Minimum spending limits and extra surcharges for credit card purchases should ... spending limits are 'prohibited' practices. 'The Consumer Council has obtained the clear and unanimous assurance from the three major credit card associations, namely Visa, ...

  7. 42pc of students in the red

    Posted Sep 27th 2004, 12:00am by Staff Reporter

    ... Helen Wu About 42 per cent of university students are in the red and 11 per cent have a monthly credit card debt of $3,599 on average, a survey has revealed. A further 23.9 per cent ... Chi-ying, supervisor of the Caritas Family Crisis Support Centre, said the strategy of many banks to promote credit cards among students might be encouraging them to overspend. 'Most banks ...

  8. Credit risk management is vital to bank success

    Posted Jul 10th 2004, 12:00am by Vicki Williams

    ... Teamwork is also important at Citic Ka Wah as the field grows more sophisticated, writes Vicki Williams THE RISE in bankruptcies, negative assets and customers defaulting on their credit card payments during the recent economic downturn underlined the need for banks to manage credit risk wisely. A career in the field of credit risk management can be rewarding as it creates ...

  9. Students responsible with dollars and cents

    Posted Oct 09th 2004, 12:00am by Staff Reporter

    ... Of the more than 40 per cent who had two or more credit cards, nearly 90 per cent rarely charged to the limit, and about 85 per cent almost always fully repaid their bills. Only 77 respondents ... about the full terms and conditions of their loans and credit cards. Forty-five per cent of respondents said they knew nothing or very little about the terms of their credit cards and loans, ...

  10. HK credit card holders among victims of US security breach

    Posted Jul 04th 2005, 12:00am by Staff Reporter

    ... ZHUANG PINGHUI Updated at 6.21pm: Some 134 Hong Kong credit cards were suspected of being used illegally following the biggest data security breach ever in the United States, Monetary Authority executive director Raymond Li Ling-cheung said on Monday. He said the private information of 12,000 Hong Kong credit card holders had probably been leaked during the security breach. ...




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