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China's first credit card appeared in 1979.The Bank of China headquarters in Beijing later replaced all of its branch credit cards with the Great Wall credit canrds,first issued in June,1986.At that time,a possession of a credit card was considered a symbol of wealth and status.Some people even cheated on their credit card applications just to get a card highlighting their status.Even 15 years later,in a survey done by Master Card and China Women News in several major Chinese cities,around 10 percent of people said that the credit card contributed to their confidence.Over 50 percent of people surveyed said they applied for a credit card for its convenience and security.
