Banks Tighten Credit Card Issuance as Default Risk Rises

Banks are being more selective in issuing credit cards, looking at factors like salary, account history, and credit scores.

Banks may require term deposits to secure credit limits if salary accounts can't be connected.

Interest rates are rising, so default rates are increasing. Banks are capping benefits and shedding unprofitable customers.

Demand for credit cards is still increasing for now due to strong economy and job market.

Younger individuals should be cautious with credit cards, keep limits low, budget expenses, and understand how interest is calculated.