A number of banks in China are now refusing to issue credit cards to university students, it has been reported.

Reports claimed that the situation now sharply contrasts what was obtained around the same period last years when banks fiercely competed for customers amongst students.

Some undergraduates who applied for the plastic reported that their applications were declined.

But last year, they claimed, many banks visited their campuses to issue them credit cards.

In a bid to win customers they were said to have failed to make proper checks like proof of income before issue cards to students.

Although credit cards were quite easy to come by then, some student explained that they were careful not to run up debt.

However, some student credit card holders said that they relied on overdrawing.

In recent times banks have decided to be more careful in making such unsecured loan facility easily accessible to students.