Taiwan credit card firms’ see lower balance in May

There were less credit cards active compared to April.

The balance of revolving credit held by credit card companies operating in Taiwan fell to approximately $3.34b (NT$108.5b) in May, according to data released by the Financial Supervisory Commission (FSC) in July 2024.

This is lower than the almost $3.37b (NT$109.5b) balance at end-May.

A total of 59.04 million cards have been issued by 32 credit card institutions in Taiwan. Of these, 38.06 million are active– a dip from the 38.12 million cards active as of end-April.

Average delinquency ratio rose to 0.3% in May, versus 0.28% in April.

In terms of cash cards, 13 financial institutions now hold a balance of $325.98m (NT$10.6b) in cash card loans. The amount of monthly write-off was estimated to be $439,500 (NT$14m) for May, halved from the NT$31m for April.

(US$1 = NT$32.52; as of 12 July 2024, 12:31PM)