Revoked Credit Cards Increasing Sharply
The number of people disqualified for misusing their credit cards is increasing sharply as the number of bankrupt or unemployed individuals has increased since the IMF bail-out.According to figures released on November 10 by the finance industry, as of September-end, the number of people whose credit cards were revoked or suspended by credit card companies recorded 2.298 million, 951,000 more than that (1.347 million) of last year.
In addition, the issuance of new credit cards is decreasing continuously. The number of credit cards issued decreased from 45.7 million late last year to 43.14 million as of September.
with the Korea JoongAng Daily
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