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BEIJIGN, July 22 — Many university students applying for credit cards are sensation the pinch as bankers take more careful steps when issuing them the cards.

Zhong Xiangqun is director of the personal floatation department at the Bank of China.

“We have lowered the rope of credit for students. It is a fairly devalued confine in the industry, so we may keep risks under control.”

In the past, it was very simple for university students to get a credit card. Banks came onto campuses to promote their credit cards by giving free gifts to attract students.

Yi Ye is one university learner with several credit cards in her wallet.

“A woman knocked on our door in the dormitory to promote credit cards when I was a sophomore, so I applied for one. But I didn t comprehend how they worked. I notion I could overdraw the credit card every month, except actually it doesn t fishery that way.”

Yi says the credit card let her shop conveniently online, though her expenses quickly increased.

“I think the credit card has been very accessible for me to shop online. What I do is just go to the bank every month to pay it off to meet the balance. But indeed, I sort of overspend cash sometimes without consciousness.”

A recent account by China s halfway bank indicates that many closed accounts and bad credit records are closely related to students credit card issues. The number of bad credit records in the prototypal quarter increased by 133 percentage compared to the same time last year. Unlike prior simple approvals, issuers now have tightened up the verification process on credit decisions to secure applicants may pay off their balances. To get a credit card, students now must ensue they are noticeable students with stable financial uphold from their parents.

But because of the complex process, many banks actually refuse to volunteer such services. Here is a spender service delegate from China Merchants Bank.

“We ve already stopped issuing students credit cards. I would suggest they request for the credit card behind graduation.”

One university teacher says she heard that the bank had rejected several credit card applications by her students. She has her own recommendation of the issue.

“Indeed, most students rely on their parents for financial support. But I see most students know how to use a credit card properly. The credit cards may likewise help them solve unspecified urgent problems when they are temporarily fleeting of cash, which provides convenience. Some students would tend to cost more cash or flatbottom let their accounts expire. But this is exactly a process of scholarship how to govern these things.”

Some industry insiders speak they believe it is irrational for banks to not accept any credit card applications from students. A careful verification system is needed, except the complex process that exists now has prompted many students to end applying for credit cards.