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Recently, many commercial banks announced adjustments to some of their products:

Why have co-branded credit cards become “slimmed down”?

Shopping cashback, travel insurance, flight points, accommodation upgrades... For many people, co-branded credit cards issued by commercial banks have always been a "must-have" in their wallets, which can help them enjoy many unique discounts. However, recently, Bank of Communications, CITIC Bank, Changsha Bank and many other commercial banks announced that they would stop issuing some co-branded credit cards and further adjust and optimize related businesses, which aroused the attention of consumers.

So, what advantages do consumers value in co-branded credit cards? Why do banks want to "slim down" co-branded credit cards? How can co-branded credit cards better serve new consumer needs?

Users value "exclusive services" and "cultural IP"

"I often go to Costco to shop, and I basically carry the co-branded credit card issued by the bank and Costco with me at all times. Over time, even in other occasions, I will subconsciously take out this card first when paying." said Jinsha, who returned to China from studying in Toronto, Canada.

What is a co-branded credit card? What are its characteristics compared to ordinary credit cards? According to Dong Ximiao, chief researcher of CMB Financial, a co-branded credit card is a credit card issued by a commercial bank in cooperation with a third-party institution, which can enjoy specific benefits or rewards from the partner (such as points rewards, mileage accumulation, shopping discounts, etc.). Compared with ordinary credit cards, co-branded credit cards often come with unique consumption scenarios and cultural symbols, which can better meet the personalized needs of consumers.