Banks Cut LeEco Employees Credit Lines; One Plummets to USD0.15
Xu Wei
DATE:  Jul 26 2017
/ SOURCE:  Yicai
Banks Cut LeEco Employees Credit Lines; One Plummets to USD0.15 Banks Cut LeEco Employees Credit Lines; One Plummets to USD0.15

(Yicai Global) July 26 -- China Construction Bank Corp. [SHA:601939] has responded to claims made by a former Leshi Holding (Beijing) Co. (LeEco) worker who said online that the bank reduced the limit on his CCB credit card to USD0.15 (CNY1) in the wake of LeEco's unresolved debt crisis.

Given the changes in LeEco's business operations and their possible impacts, CCB has conducted credit screening and credit line adjustments in accordance with its credit card rules, a director of CCB's credit card center said. An accurate check of clients' credit takes time.

Credit card lines of clients with proven good credit have been restored, CCB's credit card center said. Such clients account for 95 percent of the total number of those subject to the temporary adjustments, and the remaining 5 percent are undergoing credit screening processes. CCB said it hopes inconvenienced clients can understand.

A netizen surnamed Bai said in a microblog post yesterday that his CCB credit card limit was lowered to CNY1 and that when he called CCB to find out why, he was asked if he is a LeEco employee, which made him very angry. 

CCB's official explanation was that it 'involves economic cases,' Bai said. He later complained to CCB and was asked again if he is working at LeEco. Bai said he has been using his CCB credit card for more than nine years and applied for it before working for LeEco.

Bai left the company three years ago. "CCB said it did this to avoid risks as my records suggest I am still with LeEco," he said.

Many LeEco employees have reportedly had their CCB Dragon Credit Card limit decreased to CNY1.

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Keywords:   MSCI,Credit Card,Bank