BANK OF CHINA has become the first major state-owned bank to initiate the shutdown of a standalone credit card application. On May 13, BANK OF CHINA announced that its independent credit card app, "Colorful Life," which has been operational for over a decade, will completely cease service on June 30, 2026. All related functions and services have been fully migrated to the "BANK OF CHINA" app. Previously, Postal Savings Bank of China accelerated the integration of its credit card client, while several small and medium-sized banks, including Bohai Bank, Shanghai Rural Commercial Bank, and Beijing Rural Commercial Bank, have already completed the shutdown and removal of their standalone credit card apps. An analysis suggests that BANK OF CHINA's move to close its credit card app fundamentally reflects the banking industry's trend toward centralized integration of operational efficiency and user experience during digital transformation. This action is driven not only by practical considerations to reduce the high research, development, and maintenance costs associated with managing multiple independent apps but also by the need to address the fragmented user experience caused by switching between different applications. Beyond app shutdowns, adjustments in the banking industry's credit card business are extending to areas such as reduced cardholder benefits and streamlined card offerings. From banks' efforts to cut costs and improve efficiency to changes in ordinary cardholders' usage habits, diminished perks, and higher application thresholds, the domestic credit card industry is moving away from the old model of extensive card issuance and intense competition over benefits. It is entering a new, more standardized, and rational phase focused on managing existing portfolios. The gradual exit of standalone credit card apps is underway. BANK OF CHINA's decision to shut down the "Colorful Life" app is part of a broader wave of consolidation for independent credit card apps within China's banking sector, directly altering how cardholders manage their cards online. As the first case among major state-owned banks to close a standalone credit card app, BANK OF CHINA began migrating all functions from the "Colorful Life" app to the "BANK OF CHINA" app starting in September 2025 and suspended new user registrations for the former app on March 31, 2026. For cardholders accustomed to using the app, they will no longer need to download a dedicated credit card software. Instead, they can handle all credit card-related business by logging into the bank's main mobile banking app. In December 2025, Postal Savings Bank of China initiated reforms to adjust its credit card online channel services, gradually integrating credit card functions into the "Postal Savings Bank App." Once integration is complete, the "Postal Savings Credit Card App" will be discontinued. Currently, the "Postal Savings Credit Card App" remains available for download. On May 14, customer service for the app stated that clients can download and use the "Postal Savings Bank APP" as part of the credit card service channel integration. After integration is finished, clients will no longer be able to use the Postal Savings Credit Card App, but all credit card services will remain unaffected and can be accessed through other channels like mobile banking. "There are currently no plans for the credit card app to be removed or shut down; please refer to our latest official announcements for updates." In contrast, while joint-stock banks have not yet undertaken large-scale shutdowns of their core credit card apps—such as China Merchants Bank's "CMB Life," China CITIC Bank's "Dynamic Card Space," Bank of Communications' "Checkout Bar," and Ping An Bank's credit card section, which continue normal operations—several banks have begun migrating certain functions and implementing lightweight modifications, gradually reducing marketing and operational investments in their standalone credit card apps. Currently, among joint-stock banks, only Bohai Bank has shut down its credit card app services since late December 2024, migrating its functions to the credit card section of Bohai Bank's main app. Prior to this, some city commercial banks and rural commercial banks had already completed the streamlining of their credit card online channels. According to incomplete statistics, since 2024, institutions including Shanghai Rural Commercial Bank, Sichuan Rural Commercial Bank, Beijing Rural Commercial Bank, and Bank of Jiangxi have successively completed integrations, fully eliminating standalone credit card app services. They have embedded all related functions into their main banking apps to achieve an integrated layout for retail financial services. Integrating credit card functions fully into the main mobile banking platform can unify user access points, aggregate comprehensive financial services like accounts, payments, and credit, and enhance user activity and cross-selling efficiency through data connectivity and scenario linkage. This approach is not an isolated case but a common industry choice as traffic红利 diminishes. It marks a shift from pursuing multi-platform coverage to focusing on building powerful, seamless "super apps" to increase per-customer value, signaling a deep transformation in banking services from being "product-centric" to "user-centric." Beyond credit card app consolidation, the most immediate change felt by ordinary cardholders is likely the comprehensive reduction in credit card benefits and the fading of opportunities to gain significant perks. Since 2026, multiple banks have continued to scale back various credit card usage benefits. The model of attracting users with high-end perks is rapidly cooling down. Among major state-owned banks, Bank of Communications will cease providing its Enjoy Benefits purchase service from June 29, 2026, inclusive. BANK OF CHINA has raised the annual fee waiver threshold for its platinum-level credit cards from 12 transactions to a dual requirement of 12 transactions plus an annual spend of 5,000 yuan, while annual fees for several premium cards have increased to 3,600 yuan. Agricultural Bank of China has canceled unlimited access to its self-operated airport lounges for some cards, changing it to six times per year, and suspended point redemption for air miles on certain cards. For joint-stock banks, China CITIC Bank adjusted some benefits for its Cathay Pacific and Asia Miles co-branded cards, with plans to soon cancel two core mileage perks: a "10% discount on mileage redemption for car rental services" and an "80% discount on extending mileage validity and purchasing miles." Banks like China Guangfa Bank and Shanghai Pudong Development Bank have also raised the thresholds for point redemption, significantly reducing the value of mileage and physical item exchanges. Regarding card types, a large number of co-branded cards, themed cards, and niche traffic cards are being systematically phased out. This year, Agricultural Bank of China has successively discontinued card types such as the Visa Global Payment Card (Olympic Edition), the Golden Ear Travel World Credit Card, and the Tianzhushan Credit Card. China Minsheng Bank discontinued 11 co-branded credit cards at once, with co-branded cards like Duodian and Gaode Chengfeng gradually ceasing renewal. For ordinary users, many distinctive cards can only be replaced with standard credit cards upon expiration, causing the loss of exclusive discounts tied to specific consumption scenarios. According to overall payment system operation data released by the central bank, by the end of 2025, the national credit card inventory had declined for three consecutive years, dropping from a peak of 800 million cards at the end of 2021 to 696 million cards—a reduction of over 100 million cards in three years. An industry insider who wished to remain anonymous pointed out that the core reason behind the decline in credit card issuance lies in past practices where banks competed for users by offering extensive benefits, resulting in a large number of dormant and low-activity cards. The cost of these benefits long exceeded the actual contributions from users. Against a backdrop of pressure on bank profitability and narrowing net interest margins, irrational福利投入 is unsustainable. Banks are now focusing on essential consumption scenarios and downplaying marketing gimmicks.
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