We Give Credit Cards to China Now

What's Hot

23 Upgrades Under $50 to Make Your House Look AwesomeAround The House

Trump Worth $10 Billion Less Than If He’d Simply Invested in Index FundsBusiness

Do This or Your iPhone Bill May SkyrocketSave

11 Places in the World Where You Can Afford to Retire in StyleMore

19 Moves That Will Help You Retire Early and in StyleFamily

What You Need to Know for 2017 Obamacare EnrollmentFamily

8 Things Rich People Buy That Make Them Look DumbAround The House

50 Ways to Make a Fast $50 (or Lots More)Grow

32 of the Highest-Paid American SpeakersMake

The 35 Two-Year Colleges That Produce the Highest EarnersCollege

5 DIY Ways to Make Your Car Smell GreatCars

Amazon Prime No Longer Pledges Free 2-Day Shipping on All ItemsMore

More Caffeine Means Less Dementia for WomenFamily

7 Household Hacks That Save You CashAround The House

5 Reasons a Roth IRA Should Be Part of Your Retirement PlanGrow

30 Awesome Things to Do in RetirementCollege

Beware These 10 Retail Sales Tricks That Get You to Spend MoreMore

9 Tips to Ensure You’ll Have Enough to RetireFamily

Citigroup just became the first international bank to issue a solely-branded credit card in China.

As of October 2010, China held $907 billion in U.S. Treasury bonds. If China lends money to the American government, why can’t Citigroup lend to the Chinese populace?

It turns out, now they are. According to Lowcards.com, “Citigroup has become the first international bank to issue a solely-branded credit card in China. This represents a significant accomplishment in what is eventually expected to become the world’s largest credit card market.”

Research group RNCOS says the Chinese market for credit has seen “explosive growth over the past few years,” and that’s continuing: “The total number of credit cards in China will grow at a [compound annual growth rate] of around 31 percent during 2011-2014.”

The country’s on track to become a bigger credit market than the United States “in terms of number of cards during the next decade, as increasing wealth and urbanization will allow Chinese consumers to spend more through plastic money.”

I guess we better get started on the Chinese language version of Money Talks News…

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: 5 Expenses That Vanish During Retirement

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,675 more deals!