Question

Recently we read in the financial newspapers that, the number of credit card holders in India is decreasing consistantly (the number of credit cards in circulation fell below the 20-million mark in March 2010). Which among the following is the most responsible reason behind the fall of the number of credit cards in circulation in India?
(A)The Global Financial Slowdown has changed the mind of consumers and now they are getting rid of credit cards
(B)The Reserve Bank of India has put tighter regulations for the issue of the credit cards
(C)The issuers have now a days decided to issue less number of credit cards due to increasing number of defaults
(D)The issuers are culling inactive and defaulting accounts and focusing instead on increasing spends per card
(E)The low interest rates have forced the issuers to cull the credit cards

Answer 1

d) the issues are culling inactive and defaulting accounts and focusing instead on increasing spends per card is the answer

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