US credit card firms set sights on China: Use of plastic there is soaring
News from Louisville Courier-Journal:

BEIJING — Jin Jitao, an editor at a textbook publishing house, may be the prototype of China’s new urban consumer. Though he never even heard of credit cards until 2004, he now has 79.

He has a card embossed with his nickname, one with a photo of his family, a pink Barbie card and two with Garfield the Cat. He has a card especially for dads, and several with Chinese cartoon characters.

“I like beautiful cards,” he said.

In a country that still largely runs on cash and where the idea of saving money seems embedded in the cultural DNA, the use of credit cards and debit cards is skyrocketing.

China issued 230 million new credit cards in 2010, an increase of 24 percent from the previous year, according to the China Banking Association, and the use of plastic for retail sales is up more than 40 percent this year.

It is a growing market that American credit-card companies such as MasterCard, Visa, American Express and …………… continues on Louisville Courier-Journal

… Read the full article
.

Related News:

Action Line: Check out your credit-card perks
News from Tulsa World:

“Cash rebate cards and reward points cards are well known, but there are other perks customers miss from the credit cards they use,” said Bill Hardekopf, CEO of LowCards.com and publisher of its “Complete Credit Card Index” (tulsaworld.com/lowcardsindex) This comprehensive Internet resource allows consumers to compare rates on 1,060 credit cards, including rewards cards.

Attractions tickets: Bank of America’s “Museums on Us” offers free admission to 100 museums in 24 states the first weekend of every month of 2011. Discover saves 5 percent on in-park and online purchases for Six Flags Season Passes, VIP Tours, daily admission tickets, parking, food and merchandise. Citi Private Pass discounts theme park admission.

Travel perks: Visa Signature offers many reward perks for travel. It …………… continues on Tulsa World


… Read the full article