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KOREAN CREDIT CARD COs TO TIGHTEN REQUIREMENTS FOR 20-SOMETHINGS.
SEOUL, June 3 Asia Pulse - Credit card operators in South Korea have announced plans to tighten conditions for issuing cards to those in their early 20s - limiting potential cardholders to the employed or those with regular incomes to help eliminate the social problems associated with the overuse of credit cards.
The Korea Exchange Credit Card Co. has adapted credit card issuance guidelines spelled out in Financial Supervisory Service (FSS) regulations and will not issue cards to unemployed young adults or those working on a per diem basis.
The company will also deny cards to those under age 24 who are employed at small- or mid-sized private firms but have large overdue credit card loans.
...
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Source: HighBeam Research, KOREAN CREDIT CARD COs TO TIGHTEN REQUIREMENTS FOR 20-SOMETHINGS.