The total number of the active credit cards in India has constantly plunged from 2.75 crore as on March 2008 to 1.76 crore in September 2011, according to the data issued by the Reserve Bank of India (RBI).

There has been a significant rise in the cases where the credit cards have been blocked or withdrawn by the financial institutions in the wake of growing number of the credit card defaulters. The banks are now becoming extremely circumspect in issuing the new credit cards to the applicants.

The financial institutions are now increasingly accessing the credit information from the various credit bureaus and are carrying the rigorous credit checks before issuing the credit cards to the people. This in turn will help them to prevent a large amount of the delinquencies that goes on to harm their profit and loss.