Credit card revolving service balances in their twenties have nearly doubled in the last three years, showing the highest growth rate among all age groups.

Revolving is a service that pays only a portion of the amount used by credit card and pays off the rest later. Since the fee is high, there is a great concern that if the income condition in the 20s worsens, it will lead to a large delinquency.

According to the data on the'revolving carryover balances of the four major credit card companies (Shinhan, Samsung, Hyundai, and Kookmin Card)' received from the Financial Supervisory Service by Jeong Hye-young Jang of the National Assembly Planning and Finance Committee, the balance in the 20s was 33.2 billion won in May. It increased 87.0% from May 2017 (17.8 billion won) a year ago.

The growth rate in the twenties was the steepest among all age groups.

Following their 20s, they were in their 60s or older (28.5%), in their 30s (16.6%), in their 40s (13.1%), and in their 50s (11.0%).

The overall revolving balance growth rate was 17.8%.

According to the Credit Finance Association, the growth rate of credit card usage in 2019 compared to 2017 in their 20s was about 10%.

This means your revolving balance grows faster than your credit card usage.

Rep. Jang expressed concern that the revolving fee is high at up to 20%, and there is no sign of any improvement in the future economic situation as the Corona 19 crisis continues.

If the income conditions in their twenties do not improve, the vicious cycle may be repeated, which ultimately fails to prevent the return and enters arrears, charges a large fee, and worsens income reserves.