China Quick Poll - How many credit cards do you have?

From China - Here are the results of the quick poll we conducted on 28th, Aug 2010 about

the number of credit cards a Chinese consumer has.

Total respondents: 12,404 
Question: How many credit cards do you have?

The results are as follows.

None            31.5%                  

  1                27.1%

  2                20.2%

  3                11.5%

  4                 4.5%

  5                 1.8%

more than 5 3.4%

Based on the survey conducted, 68% of our respondents have at least one credit card as of August 28, 2010. This is due to the strong growth of Chinese consumer market and the needs for personal payment. On the other hand, more than 40% of our respondents have more than one credit card, which makes an intense competition between credit card issuers, China Merchant Bank and Bank of China. With this, we believe, credit card issuers should provide more value added services and maintain good communication to their credit card holders to increase brand loyalty and prevent them from switching to other credit card issuing banks.

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