Taiwan reports over 37 million active credit cards in October

The average rate of delinquency was 0.2% by the end of the month.

There are 37.38 million active credit cards in Taiwan as of October, with a revolving credit balance of NT$104.4b (over US$3.34b), data from the Financial Supervisory Commission (FSC) showed.

The amount of undue balance of installment across the thirty-two credit card issuing institutions in operation in Taiwan was NT$212.5b (US$6.8b), lower than the NT$216.3b (US$6.9b) in end-September.

Sales were estimated to be NT$371.4b in October, higher than the NT$320.3b (US$11.8b) spent in the month of September.

Average ratio of delinquency credit– defined as being past due for over three months– against account receivables was 0.2% by the end of the month.

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Cash cards, stored value cards
As of end-October, a total of 173.34 million stored value cards were active in Taiwan, with approximately NT$6.7b spent (US$213.1m) in October versus NT$6.3b (US$201m) in September.

Balance of stored value was NT$13.77b (US$440m) by end-October. 

Meanwhile, over 300,000 cash cards were active in Taiwan during the same period, with total balance at NT$11b (US$352m). The amount of monthly write-off was approximately NT$0.03b, whilst the overall delinquency ratio is 1.171% by end-October, compared to 1.157% a month earlier.