Weak credit card spends due to job loss snatch banks' low-hanging fruits

September's seven per cent year-on-year credit card outstanding is the poorest in recent years

When credit card dues were included in the list of loans eligible for ‘interest-on-interest’ waiver, the inclusion of this segment for a waiver was questioned. A finer reading into users of credits cards and some of the changes undergone by the segment will throw up the answers.

The salaried class accounts for 75 per cent of credit card users. If segmented by age, those in the 25–40 bracket account for over 65 per cent of active credit card users, according to Macquarie Capital. News reports suggest that the salaried class and those in the mid- to senior- management ranks have