Yan Bowen’s only attempt to get a credit card came during her first year at university. The bank rejected her because she had no income, reinforcing her belief that cards were meant for “people with stable incomes.”
Then, at 22, she found herself in debt anyway.
Last October, she realized she owed around 3,000 yuan ($400) — more than her entire monthly student allowance. With the debt weighing on her, she cut daily expenses, took on part-time work, and borrowed from friends to pay it down.
The debt had built up through apps she used every day to order takeout, buy groceries, and shop online, each offering the option to pay later or split purchases into installments.
Even so, Yan sees the relatively low limits on app-based credit as a safeguard against getting in too deep. “It keeps the risk manageable, nothing big enough to shock my parents,” she said. “A credit card would just mean higher risk.”
