Is there a seven-year itch for themed credit cards as well?

On November 8, Ping An Bank announced on its official website that starting from January 1, 2025 (inclusive), it will stop selling the Chinese Super League themed card faces under the Ping An You credit card series (referred to as Ping An You Super card). The Ping An You Super card series will be renamed as the standard card of Ping An You card.

Financial news reporters noticed that the above co-branded credit cards were first issued in 2017, and up to now, the issuance history has reached 7 years.

A certain brokerage banking industry analyst confessed to financial news reporters that the halt of themed co-branded credit cards and the new credit card regulations to be implemented within the year are related. However, on the other hand, it is also due to some co-branded initiatives not meeting expectations, prompting banks to proactively adjust related business.

After seven years, it's time to say goodbye - Ping An Bank will part ways with the Chinese Super League themed credit cards.

In the announcement, Ping An Bank stated that due to business strategy adjustments, starting from January 1, 2025 (inclusive), the bank will adjust the products and services related to the Chinese Super League themed card faces under the Ping An You credit card.

Specifically, Ping An Bank will stop the new card sales of the Chinese Super League themed card faces under the Ping An You card. The Chinese Super League themed card faces of the Ping An You card will be adjusted to the standard card faces of Ping An You, and the series name will be changed to the standard card of Ping An You, with card rights and fee standards unchanged.

According to a reporter from Cailian Press querying Ping An Bank's official website, the above-mentioned co-branded credit card has been issued for 7 years.

On May 22, 2017, Ping An announced that it would continue to sponsor the Chinese Super League for 5 years with 1 billion yuan and collaborate with several subsidiaries to launch a series of products and services. Among them, to pay tribute to the Chinese Super League, Ping An Bank will soon launch the first themed credit card for the Chinese Super League fans, called the 'Chinese Super League Credit Card by You'.

At that time, Zhang Shen, General Manager of the Retail Risk Management Department of Ping An Bank and Risk Director of Ping An Credit Card, introduced at the Ping An Group Chinese Super League press conference that this customized credit card product for fans aims to allow fans to enjoy exclusive benefits and enable more young customers to enjoy Ping An Credit Card's one-stop convenient services. Zhang Shen also stated: 'This approach dives into the frontline of fans, facilitates deep interaction with fans, and converts them into loyal customers'.

Several commercial banks have stopped issuing co-branded and themed credit cards within the year.

Cailian Press reporters noted that Ping An Bank's practice of suspending co-branded credit cards is not unique in the industry.

According to incomplete statistics from reporters, within the year, many large commercial banks including Agricultural Bank of China, Bank of Communications, CM Bank, and China Citic Bank Corporation have announced the suspension of some co-branded credit cards. Some banks have stopped issuing dozens of types of co-branded credit cards at once.

For example, recently, Agricultural Bank of China issued a 'Notice on the Suspension of Issuing Some Credit Card Products', stating that due to business adjustments, starting from October 23, the bank will suspend the issuance of 27 credit card products. These credit card products cover various categories, including culture and tourism, travel, music, video, and are not lacking in cards co-branded with institutions such as Dour, Hutu Credit Card, GAC Toyota, Jiuyu, iQiyi, Netease Cloud Music, etc. It also includes co-branded cards like the Wu Xiaobo Channel Card (UnionPay+Whiskey combination). Of note, this is Agricultural Bank of China's third announcement this year to stop 'co-branded operations'.

Another example is the Credit Card Center of Bank of Communications issuing a notice that, due to adjustments in credit card product strategy, the King Pro League themed credit card series products including the King Pro League KPL Dream Tears Han Xin Card, King Pro League KPL Qing Qing Li Xin Card, King Pro League KPL Yi Nuo Yu Ji Card, will stop issuing from August 31.

It was noted by reporters that while a large number of cobranded credit cards have stopped issuing, the number of credit cards from some banks has also seen a decrease this year. For example, the semi-annual report data from various banks show that as of the end of June, the domestic credit card ownership of Bank of Communications decreased by 6.4359 million cards to 64.8883 million cards compared to the end of the previous year's 71.3242 million cards. As of the end of June, the circulation of CM Bank's credit cards was 96.6642 million cards, a decrease of 0.47% from the end of the previous year.

However, not all banks have ceased issuing new cobranded cards.

Caixin reporters noted that recently, some banks have chosen to issue new cobranded credit cards. For example, on October 25, Hua Xia Bank announced on its official website that in order to provide customers with better quality service and card experiences, the bank will issue the Hua Xia KPL King Glory Dream Team cobranded credit card, with product levels including Gold and Platinum, and the annual fee standards consistent with the corresponding card levels.