January 28, 2005
In a land where cash has always been king and checks never really caught on, credit cards are becoming must-haves for the younger generation. A recent survey conducted by Visa International reveals that nearly 60% of platinum card holders in Taiwan are 25 to 29 years old. What's more, whereas platinum card holders overall charge 49% of their purchases to credit cards, those aged 20 to 29 put a high of 53% on their cards, spending cash on the rest.
The survey shows credit card holders charged an average of
NTD 10,791 per month to platinum cards, while putting
NTD 9,638 on other credit cards.
Taiwanese consumers are possessed of nearly 9 million platinum cards, with 5.22 million wielding the Visa Platinum Card. Not only does nearly half of Taiwan's 23 million people have a platinum card, these platinum card holders maintain an average of 4.8 credit cards, while non-platinum card holders carry an average of 2.8 cards.
Banks in Taiwan have different annual income thresholds for allowing shoppers to go platinum. The most stringent banks require salaries of
NTD 800,000 to
NTD 1 million, while some will issue platinum cards to those with salaries ranging from
NTD 400,000 to
NTD 600,000. However, some banks will even issue platinum cards to people with annual salaries of just
NTD 200,000 to
NTD 300,000.
(United Daily News)
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