Existing cardholders who currently hold credit cards from more than two issuers are given up to the end of 2011 to select their preferred issuers. Cardholders will also be given at least two years to service their outstanding credit card debt for the credit cards that have been cancelled for the purpose of meeting this requirement.

For existing cardholders, whose credit card outstanding balance exceeds the maximum credit limit, a grace period of two years will be given to them to meet with the new requirement.