new tybbi.docx

8/9/2019 NEW TYBBI.docx

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Table Of Contents

Sr.

No.

Description Pg.

No.1 Certicates2 Declaration3 Acknowledgeent! "ist of Abbre#iation$ C%apter 1& An 'ntrod(ction) C%apter 2& Prole* C%apter 3& T%eoretical #iew+ C%apter !& Coparati#e St(d,- C%apter $& Concl(sion1 /ibliograp%,


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Declaration

'0 OA" TO4AT ST5D6NT O7 /AC6"O4 O7

CO64C60 /AN'N8 AND 'NS54ANC60 S66ST64&9 O7

64A"66:A SAA;A 7O4 T6 ACAD6'C :6A4 21!&21$.

T6 'N7O4AT'ON S5/'TT6D 'S T456 AND

O4'8'NA" TO T6 /6ST O7 : NO?"6D86.

OA" TO4AT

/AC6"O4 O7

CO64C6

/AN'N8 AND

'NS54ANC6


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ACNO?"6D866NT

' a gratef(l to t%e college for gi#ing e an opport(nit,for doing t%is pro@ect0 ' a e(all, gratef(l and reain

indebted to , g(ide rs. BBBBBB for being a so(rce of

inspiration and for %er constant s(pport in t%e design0

ipleentation and e#al(ation of t%e pro@ect.

' a t%ankf(l to %er for t%eir constant constr(cti#ecriticis and in#al(able s(ggestions0 w%ic% beneted e

a lot w%ile de#eloping t%e pro@ect on =7AC'"'T'6S

P4O9'D6D /: /ANS TO C'"D46N& A COPA4AT'96

ST5D:>.

S%e %as been a constant so(rce of 'nspiration and

oti#ation for %ard work. S%e %as been #er, co&operati#e

t%ro(g%o(t t%is pro@ect work. T%ro(g% t%is col(n0 itwo(ld be , (tost pleas(re to epress , war t%anks

to %er for enco(rageent0 co&operation and consent

wit%o(t w%ic% ' ig%tn


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As%wini

Pok%arkar


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Chapter 1

An Introduction

Chapter One


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An Introduction

INTRODUCTION TO MARKETING

Marketing is the process of communicating the vaue of a product or service

to customers! for the purpose of seing that product or service"

Mar#eting can $e oo#ed at as an organi%ationa function and a set of processes for

creating! deivering and communicating vaue to customers! and customer

reationship management that aso $enefits the organi%ation" Mar#eting is

the science of choosing target mar#ets through mar#et ana&sis and mar#et

segmentation! as 'e as understanding consumer $ehavior and providing superior

customer vaue" (rom a societa point of vie'! mar#eting is the in# $et'een a

societ&)s materia re*uirements and its economic patterns of response" Mar#eting

satisfies these needs and 'ants through e+change processes and $uiding ong term

reationships"

http://en.wikipedia.org/wiki/Communicationhttp://en.wikipedia.org/wiki/Customershttp://en.wikipedia.org/wiki/Organizationalhttp://en.wikipedia.org/wiki/Customer_relationship_managementhttp://en.wikipedia.org/wiki/Customer_relationship_managementhttp://en.wikipedia.org/wiki/Sciencehttp://en.wikipedia.org/wiki/Target_marketshttp://en.wikipedia.org/wiki/Market_segmentationhttp://en.wikipedia.org/wiki/Market_segmentationhttp://en.wikipedia.org/wiki/Consumer_behaviorhttp://en.wikipedia.org/wiki/Economichttp://en.wikipedia.org/wiki/Customershttp://en.wikipedia.org/wiki/Organizationalhttp://en.wikipedia.org/wiki/Customer_relationship_managementhttp://en.wikipedia.org/wiki/Customer_relationship_managementhttp://en.wikipedia.org/wiki/Sciencehttp://en.wikipedia.org/wiki/Target_marketshttp://en.wikipedia.org/wiki/Market_segmentationhttp://en.wikipedia.org/wiki/Market_segmentationhttp://en.wikipedia.org/wiki/Consumer_behaviorhttp://en.wikipedia.org/wiki/Economichttp://en.wikipedia.org/wiki/Communication


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Denation

T%e anageent process t%ro(g% w%ic% goods and

ser#ices o#e fro concept to t%e c(stoer. 't incl(dest%e coordination of fo(r eleents called t%e ! pEs of

arketingF

G1H identication0 selection and de#elopent of

a product0

G2H deterination of its price0

G3H selection of a distrib(tion

c%annel to reac% t%e c(stoerEs place0 and

G!H de#elopent and ipleentation of a promotional

strategy.

7or eaple0 new apple prod(cts are de#eloped toincl(de ipro#ed applications and s,stes0 are set a

dierent prices depending on %ow (c% capabilit, t%e

c(stoer desires0 and are sold in places w%ere ot%er

apple prod(cts are sold. 'n order to proote t%e de#ice0

t%e copan, feat(red its deb(t at tec% e#ents and is

%ig%l, ad#ertised on t%e web and on tele#ision.

arketing is based on t%inking abo(t

t%e b(siness in ters of c(stoer needs and

http://www.businessdictionary.com/definition/management.htmlhttp://www.businessdictionary.com/definition/process.htmlhttp://www.businessdictionary.com/definition/goods-and-services.htmlhttp://www.businessdictionary.com/definition/goods-and-services.htmlhttp://www.businessdictionary.com/definition/concept.htmlhttp://www.businessdictionary.com/definition/coordination.htmlhttp://www.businessdictionary.com/definition/element.htmlhttp://www.businessdictionary.com/definition/call.htmlhttp://www.businessdictionary.com/definition/four-P-s-of-marketing.htmlhttp://www.businessdictionary.com/definition/four-P-s-of-marketing.htmlhttp://www.businessdictionary.com/definition/selection.htmlhttp://www.businessdictionary.com/definition/development.htmlhttp://www.businessdictionary.com/definition/distribution-channel.htmlhttp://www.businessdictionary.com/definition/distribution-channel.htmlhttp://www.businessdictionary.com/definition/cumulative-audience-Cume.htmlhttp://www.businessdictionary.com/definition/customer.htmlhttp://www.businessdictionary.com/definition/promotional-strategy.htmlhttp://www.businessdictionary.com/definition/promotional-strategy.htmlhttp://www.investorguide.com/stock.php?ticker=AAPLhttp://www.businessdictionary.com/definition/product.htmlhttp://www.businessdictionary.com/definition/developed.htmlhttp://www.businessdictionary.com/definition/application.htmlhttp://www.businessdictionary.com/definition/system.htmlhttp://www.businessdictionary.com/definition/price.htmlhttp://www.businessdictionary.com/definition/capability.htmlhttp://www.businessdictionary.com/definition/place.htmlhttp://www.businessdictionary.com/definition/order.htmlhttp://www.businessdictionary.com/definition/promote.htmlhttp://www.businessdictionary.com/definition/device.htmlhttp://www.businessdictionary.com/definition/company.htmlhttp://www.businessdictionary.com/definition/technology.htmlhttp://www.businessdictionary.com/definition/events.htmlhttp://www.businessdictionary.com/definition/web.htmlhttp://www.businessdictionary.com/definition/marketer.htmlhttp://www.businessdictionary.com/definition/business.htmlhttp://www.businessdictionary.com/definition/term.htmlhttp://www.businessdictionary.com/definition/customer-needs.htmlhttp://www.businessdictionary.com/definition/management.htmlhttp://www.businessdictionary.com/definition/process.htmlhttp://www.businessdictionary.com/definition/goods-and-services.htmlhttp://www.businessdictionary.com/definition/goods-and-services.htmlhttp://www.businessdictionary.com/definition/concept.htmlhttp://www.businessdictionary.com/definition/coordination.htmlhttp://www.businessdictionary.com/definition/element.htmlhttp://www.businessdictionary.com/definition/call.htmlhttp://www.businessdictionary.com/definition/four-P-s-of-marketing.htmlhttp://www.businessdictionary.com/definition/four-P-s-of-marketing.htmlhttp://www.businessdictionary.com/definition/selection.htmlhttp://www.businessdictionary.com/definition/development.htmlhttp://www.businessdictionary.com/definition/distribution-channel.htmlhttp://www.businessdictionary.com/definition/distribution-channel.htmlhttp://www.businessdictionary.com/definition/cumulative-audience-Cume.htmlhttp://www.businessdictionary.com/definition/customer.htmlhttp://www.businessdictionary.com/definition/promotional-strategy.htmlhttp://www.businessdictionary.com/definition/promotional-strategy.htmlhttp://www.investorguide.com/stock.php?ticker=AAPLhttp://www.businessdictionary.com/definition/product.htmlhttp://www.businessdictionary.com/definition/developed.htmlhttp://www.businessdictionary.com/definition/application.htmlhttp://www.businessdictionary.com/definition/system.htmlhttp://www.businessdictionary.com/definition/price.htmlhttp://www.businessdictionary.com/definition/capability.htmlhttp://www.businessdictionary.com/definition/place.htmlhttp://www.businessdictionary.com/definition/order.htmlhttp://www.businessdictionary.com/definition/promote.htmlhttp://www.businessdictionary.com/definition/device.htmlhttp://www.businessdictionary.com/definition/company.htmlhttp://www.businessdictionary.com/definition/technology.htmlhttp://www.businessdictionary.com/definition/events.htmlhttp://www.businessdictionary.com/definition/web.htmlhttp://www.businessdictionary.com/definition/marketer.htmlhttp://www.businessdictionary.com/definition/business.htmlhttp://www.businessdictionary.com/definition/term.htmlhttp://www.businessdictionary.com/definition/customer-needs.html


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t%eir satisfaction. arketing diers fro selling beca(se

Gin t%e words of %ar#ard b(siness

sc%oolEs retired professor of arketing t%eodore c. "e#ittH

Iselling concerns itself wit% t%e tricks and tec%ni(es of

getting people to ec%ange t%eir cas% for ,o(r prod(ct. 't

is not concerned wit% t%e #al(es t%at t%e ec%ange is all

abo(t. And it does not0 as arketing in#ariable does0 #iew

t%e entire b(siness process as consisting of a tig%tl,

integrated eort to disco#er0 create0 aro(se and satisf,

c(stoer needs.I in ot%er words0 arketing %as less to

do wit% getting c(stoers to pa, for ,o(r prod(ct as it

does de#eloping a deand for t%at prod(ct and f(llling

t%e c(stoerEs needs.

'ntrod(ction to cons(er be%a#io(r

consumer behaviour is t%e st(d, of indi#id(als0

gro(ps0 or organiJations and t%e processes t%e, (se to

select0 sec(re0 and dispose of prod(cts0 ser#ices0

eperiences0 or ideas to satisf, needs and t%e ipacts

t%at t%ese processes %a#e on t%e cons(er and societ,. 't

blends eleents

fro ps,c%olog,0 sociolog,0 social ant%ropolog,0

arketing and econoics. 't attepts to (nderstand t%e

http://www.businessdictionary.com/definition/satisfaction.htmlhttp://www.businessdictionary.com/definition/seller.htmlhttp://www.businessdictionary.com/definition/word.htmlhttp://www.businessdictionary.com/definition/Harvard-Business-School.htmlhttp://www.businessdictionary.com/definition/Harvard-Business-School.htmlhttp://www.businessdictionary.com/definition/retired.htmlhttp://www.businessdictionary.com/definition/concern.htmlhttp://www.businessdictionary.com/definition/technique.htmlhttp://www.businessdictionary.com/definition/exchange.htmlhttp://www.businessdictionary.com/definition/cash.htmlhttp://www.businessdictionary.com/definition/values.htmlhttp://www.businessdictionary.com/definition/business-process.htmlhttp://www.businessdictionary.com/definition/create.htmlhttp://www.businessdictionary.com/definition/need.htmlhttp://www.businessdictionary.com/definition/pay.htmlhttp://www.businessdictionary.com/definition/developer.htmlhttp://www.businessdictionary.com/definition/demand.htmlhttp://en.wikipedia.org/wiki/Psychologyhttp://en.wikipedia.org/wiki/Sociologyhttp://en.wikipedia.org/wiki/Social_Anthropologyhttp://en.wikipedia.org/wiki/Anthropologyhttp://en.wikipedia.org/wiki/Economicshttp://www.businessdictionary.com/definition/satisfaction.htmlhttp://www.businessdictionary.com/definition/seller.htmlhttp://www.businessdictionary.com/definition/word.htmlhttp://www.businessdictionary.com/definition/Harvard-Business-School.htmlhttp://www.businessdictionary.com/definition/Harvard-Business-School.htmlhttp://www.businessdictionary.com/definition/retired.htmlhttp://www.businessdictionary.com/definition/concern.htmlhttp://www.businessdictionary.com/definition/technique.htmlhttp://www.businessdictionary.com/definition/exchange.htmlhttp://www.businessdictionary.com/definition/cash.htmlhttp://www.businessdictionary.com/definition/values.htmlhttp://www.businessdictionary.com/definition/business-process.htmlhttp://www.businessdictionary.com/definition/create.htmlhttp://www.businessdictionary.com/definition/need.htmlhttp://www.businessdictionary.com/definition/pay.htmlhttp://www.businessdictionary.com/definition/developer.htmlhttp://www.businessdictionary.com/definition/demand.htmlhttp://en.wikipedia.org/wiki/Psychologyhttp://en.wikipedia.org/wiki/Sociologyhttp://en.wikipedia.org/wiki/Social_Anthropologyhttp://en.wikipedia.org/wiki/Anthropologyhttp://en.wikipedia.org/wiki/Economics


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decision&aking processes of b(,ers0 bot% indi#id(all,

and in gro(ps s(c% as %ow eotions aect b(,ing

be%a#io(r. 't st(dies c%aracteristics of indi#id(al

cons(ers s(c% as deograp%ics and be%a#io(ral

#ariables in an attept to (nderstand peopleEs wants. 't

also tries to assess inK(ences on t%e cons(er fro

gro(ps s(c% as fail,0 friends0 reference gro(ps0 and

societ, in general.

C(stoer be%a#io(r st(d, is based on cons(er b(,ing

be%a#io(r0 wit% t%e c(stoer pla,ing t%e t%ree distinct

roles of (ser0 pa,er and b(,er. 4esearc% %as s%own t%at

cons(er be%a#io(r is diLc(lt to predict0 e#en for

eperts in t%e eld. 4elations%ip arketingis an

inK(ential asset for c(stoer be%a#io(r anal,sis as it %as

a keen interest in t%e re&disco#er, of t%e tr(e eaning of

arketing t%ro(g% t%e re&aLration of t%e iportance of

t%e c(stoer or b(,er. A greater iportance is also

placed on cons(er retention0 c(stoer relations%ip

anageent0 personalisation0 c(stoisation and one&to&

one arketing. Social f(nctions can be categoriJed

into social c%oice and welfare f(nctions.

http://en.wikipedia.org/wiki/Demographichttp://en.wikipedia.org/wiki/Relationship_marketinghttp://en.wikipedia.org/wiki/Social_choicehttp://en.wikipedia.org/wiki/Demographichttp://en.wikipedia.org/wiki/Relationship_marketinghttp://en.wikipedia.org/wiki/Social_choice


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6ac% et%od for #ote co(nting is ass(ed as social

f(nction b(t if arrow


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About the Report

• Title of the study:- T%e present st(d, is titled as”

A Proect report on consumer behavior inselecting credit cards”!

• "bective of the study:- T%e following are t%e

ob@ecti#e of t%e st(d,

To study the awareness of bank customers about credit cards.

To assess the eligible credit limits and the actual credit limits

availed by the card holders.

To examine the extent of usage of credit cards by card holders.

To find out the attitude of card holders towards credit cards.

To offer suggestions for further improvement

Period of the study:- T%e period of t%e present

st(d, is fro ;(ne 21!&Septeber 21!.

#imitations of the $tudy:- T%e present st(d, %as

got all t%e liitations of case st(d, et%od.


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• %ata and &ethodology:- 7or t%e p(rpose of t%e

present st(d, ' %ad referred internet 0 books0

newspaper to collect inforation.


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/5:'N8 P4OC6SS

T%e C(stoer /(,ing Process Galso called a /(,ing

Decision ProcessH describes t%e process ,o(r c(stoer

goes t%ro(g% before t%e, b(, ,o(r prod(ct.

5nderstanding ,o(r c(stoer


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)! Information $earch a#ing recognised a proble or

need0 t%e net step a c(stoer a, take is t%e

'nforation Searc% stage0 in order to nd o(t w%at t%e,

feel is t%e best sol(tion. T%is is t%e b(,er


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,! Purchase %ecision T%e pen(ltiate stage is w%ere

t%e p(rc%ase takes place. P%ilip otler G2-H states t%at

t%e nal p(rc%ase decision a, be disr(pted< b, two

factorsF negati#e feedback fro ot%er c(stoers and t%e

le#el of oti#ation to accept t%e feedback. 7or eaple0

%a#ing gone t%ro(g% t%e pre#io(s t%ree stages0 a

c(stoer c%ooses to b(, a new telescope. owe#er0

beca(se %is #er, good friend0 a keen astronoer0 gi#es

%i negati#e feedback0 %e will t%en be bo(nd to c%ange

%is preference. 7(rt%erore0 t%e decision a, bedisr(pted d(e to (nforeseen sit(ations s(c% as a s(dden

@ob loss or relocation.


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! Post-Purchase .ehaviour 'n brief0 c(stoers will

copare prod(cts wit% t%eir pre#io(s epectations and

will be eit%er satised or dissatised. T%erefore0 t%ese

stages are critical in retaining c(stoers. T%is can greatl,

aect t%e decision process for siilar p(rc%ases fro t%e

sae copan, in t%e f(t(re0 %a#ing a knock&on eect at

t%e 'nforation Searc% stage and 6#al(ation of

Alternati#es stage. 'f ,o(r c(stoer is satised0 t%is will

res(lt in brand lo,alt,0 and t%e 'nforation Searc% and

6#al(ation of Alternati#e stages will often be fast&tracked

or skipped altoget%er.

On t%e basis of being eit%er satised or dissatised0 it is

coon for c(stoers to distrib(te t%eir positi#e or

negati#e feedback abo(t t%e prod(ct. T%is a, be

t%ro(g% re#iews on website0 social edia networks or

word of o(t%. Copanies s%o(ld be #er, caref(l to

create positi#e post&p(rc%ase co(nication0 in order to

engage c(stoers and ake t%e process as eLcient as

possible.


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4O"6S O7 CONS564 /6A9'O54

Cons(er /e%a#io(r refers to t%e st(d, of b(,ing

tendencies of cons(ers. An indi#id(al w%o goes for

s%opping does not necessaril, end (p b(,ing prod(cts.

T%ere are se#eral stages a cons(er goes t%ro(g% before

%e nall, picks (p t%ings a#ailable in t%e arket. 9ario(s

factors0 be it c(lt(ral0 social0 personal or ps,c%ological

inK(ence t%e b(,ing decision of indi#id(als.

T%ere are ideall, two dierent wa,s w%ic% enable

arketers to (nderstand t%eir cons(ers.

Priar, 4esearc%


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Secondar, 4esearc%

Primary Research - Priar, 4esearc% refers to a

researc% et%odolog, w%ere arketers interact wit%

cons(ers directl, and gat%er as (c% inforation as

t%e, can. 'nforation is generall, collected t%ro(g%

s(r#e,s0 (estionnaires0 feedback fors0 inter#iews etc.

$econdary Research - Secondar, 4esearc% often refers

to rel,ing on inforation w%ic% %as been collected b,

ot%ers at soe point of tie.

T%e backgro(nd and fail, stat(s of an indi#id(al also

inK(ence %is%er b(,ing be%a#io(r.

Selling a laptop to an indi#id(al w%o is not (c%

ed(cated wo(ld be pointless. 4eeber cons(ers

wo(ld s%ow interest in ,o(r prod(cts onl, if t%e, are of

an, (se to t%e or t%eir iediate fail, ebers. A

low grade worker wo(ld ne#er be interested in p(rc%asing

b(siness s(its or foral s%irts.

Canned @(ices are a %it aong iddle and %ig%er incoe

gro(p w%ere indi#id(als are reall, conscio(s abo(t t%eir

%ealt% and tness. 'ndi#id(als w%o li#e %and to o(t%


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wo(ld ne#er spend on s(gar free tablets0 %ealt%

s(ppleents0 or for t%at atter =Diet Coke>.

't is also iportant to gi#e coplete inforation to end&(sers. Do not %ide an,t%ing fro t%e. 't is not et%ical.

All tobacco prod(cts coe wit% a warning. 'ndi#id(als

s%o(ld be failiar wit% not onl, t%e benets b(t also t%e

side eects of t%e prod(cts.

&ar/eters must also ta/e into account:

Age gro(p of cons(ers

8eograp%ical location

"ifest,le of cons(ers

Social Stat(s of cons(ers

7(nk, designs0 lo(d colo(rs wo(ld be a %it aong

teenagers w%ereas iddle aged and elderl, people wo(ld

prefer s(btle colo(rs and sop%isticated designs.

Salwar S(its are etreel, pop(lar in Nort% 'ndia w%ereas

feales prefer saris and skirt blo(ses in eastern and

so(t%ern parts of 'ndia.


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'ndi#id(als fro pos% localities and good @obs wo(ld s%ow

keen interest towards b(,ing ecl(si#e and (ni(e

prod(cts as copared to indi#id(als w%o do not coe

fro an a(ent backgro(nd.


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C%apter 2

'ntrod(ction Of

Credit

Cards


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C46D'T CA4DS

A credit card is a pa,ent card iss(ed to (sers as a

s,ste of pa,ent. 't allows t%e card%older to pa, for

goods and ser#ices based on t%e %olderEs proise to pa,

for t%e. T%e iss(er of t%e card creates a re#ol#ing

acco(nt and grants a line of credit to t%e cons(er Gor

t%e (serH fro w%ic% t%e (ser can borrow one, for

pa,ent to a erc%ant or as a cas% ad#ance to t%e (ser.

A credit card is dierent fro a c%arge cardF a c%arge

card

credit cards allow t%e cons(ers a contin(ing balance of

debt0 s(b@ect to interest being c%arged. A credit card also

diers fro a cas% card0 w%ic% can be (sed like c(rrenc,

b, t%e owner of t%e card. A credit card diers fro a

c%arge card also in t%at a credit card t,picall, in#ol#es a

t%ird&part, entit, t%at pa,s t%e seller and is reib(rsed

b, t%e b(,er0 w%ereas a c%arge card sipl, defers

pa,ent b, t%e b(,er (ntil a later date.

T%e siJe of ost credit cards is 3 3 Q + R 2 1 Q + in G+$.) R

$3.-+ H03 conforing to t%e 'SO'6C *+1 'D&1

http://en.wikipedia.org/wiki/Payment_cardhttp://en.wikipedia.org/wiki/Paymenthttp://en.wikipedia.org/wiki/Cardholderhttp://en.wikipedia.org/wiki/Revolving_accounthttp://en.wikipedia.org/wiki/Revolving_accounthttp://en.wikipedia.org/wiki/Line_of_credithttp://en.wikipedia.org/wiki/Consumerhttp://en.wikipedia.org/wiki/Merchanthttp://en.wikipedia.org/wiki/Cash_advancehttp://en.wikipedia.org/wiki/Charge_cardhttp://en.wikipedia.org/wiki/Credit_card_interesthttp://en.wikipedia.org/wiki/Cash_cardhttp://en.wikipedia.org/wiki/Credit_card#cite_note-3http://en.wikipedia.org/wiki/ISO/IEC_7810http://en.wikipedia.org/wiki/Payment_cardhttp://en.wikipedia.org/wiki/Paymenthttp://en.wikipedia.org/wiki/Cardholderhttp://en.wikipedia.org/wiki/Revolving_accounthttp://en.wikipedia.org/wiki/Revolving_accounthttp://en.wikipedia.org/wiki/Line_of_credithttp://en.wikipedia.org/wiki/Consumerhttp://en.wikipedia.org/wiki/Merchanthttp://en.wikipedia.org/wiki/Cash_advancehttp://en.wikipedia.org/wiki/Charge_cardhttp://en.wikipedia.org/wiki/Credit_card_interesthttp://en.wikipedia.org/wiki/Cash_cardhttp://en.wikipedia.org/wiki/Credit_card#cite_note-3http://en.wikipedia.org/wiki/ISO/IEC_7810


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standard. Credit cards %a#e a printed ! or

ebossed bank card n(ber copl,ing wit% t%e 'SO'6C

*+12 n(bering standard. /ot% of t%ese standards are

aintained and f(rt%er de#eloped b, 'SO'6C ;TC 1SC

1*?8 1. /efore agnetic stripe readers cae into

widespread (se0 plastic credit cards iss(ed b, an,

departent stores were prod(ced on stock GIPrincessI or

IC4&$IH slig%tl, longer and narrower t%an *+1.

http://en.wikipedia.org/wiki/Credit_card#cite_note-4http://en.wikipedia.org/wiki/Bank_card_numberhttp://en.wikipedia.org/wiki/ISO/IEC_7812http://en.wikipedia.org/wiki/ISO/IEC_7812http://en.wikipedia.org/wiki/ISO/IEC_JTC_1/SC_17/WG_1http://en.wikipedia.org/wiki/ISO/IEC_JTC_1/SC_17/WG_1http://en.wikipedia.org/wiki/Credit_card#cite_note-4http://en.wikipedia.org/wiki/Bank_card_numberhttp://en.wikipedia.org/wiki/ISO/IEC_7812http://en.wikipedia.org/wiki/ISO/IEC_7812http://en.wikipedia.org/wiki/ISO/IEC_JTC_1/SC_17/WG_1http://en.wikipedia.org/wiki/ISO/IEC_JTC_1/SC_17/WG_1


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'STO4:

Credit cards in +d0ard .ellamys Looking

Backward

T%e concept of (sing a card for p(rc%ases was described

in 1++* b, 6dward /ella, in %is (topian no#el Looking

Backward. /ella, (sed t%e ter credit card ele#en

ties in t%is no#el0 alt%o(g% t%is referred to a card for

spending a citiJenEs di#idend fro t%e go#ernent0 rat%er

t%an borrowing.) 4o(g%l, siilar in f(nctions to t%e

c(rrent da, 5.S. Social Sec(rit, Cards wit% t%eir Social

Sec(rit, n(bers.

Charge coins2 medals2 and so on

C%arge coins and ot%er siilar ites were (sed in t%e

late 1+s to t%e 1-3s. T%e, cae in #ario(s s%apes

and siJesM wit% aterials ade o(t of cell(loid Gan earl,

t,pe of plasticH0 copper0 al(in(0 steel0 and ot%er t,pe

of w%itis% etals.6ac% c%arge coin (s(all, %ad a little

%ole0 enabling it to be p(t in a ke, ring like a reg(lar ke,.

T%ese c%arge coins were (s(all, gi#en to c(stoers w%o

http://en.wikipedia.org/wiki/Edward_Bellamyhttp://en.wikipedia.org/wiki/Looking_Backwardhttp://en.wikipedia.org/wiki/Looking_Backwardhttp://en.wikipedia.org/wiki/Citizen's_dividendhttp://en.wikipedia.org/wiki/Credit_card#cite_note-6http://en.wikipedia.org/wiki/Social_Security_numberhttp://en.wikipedia.org/wiki/Edward_Bellamyhttp://en.wikipedia.org/wiki/Looking_Backwardhttp://en.wikipedia.org/wiki/Looking_Backwardhttp://en.wikipedia.org/wiki/Citizen's_dividendhttp://en.wikipedia.org/wiki/Credit_card#cite_note-6http://en.wikipedia.org/wiki/Social_Security_number


26/75

%ad c%arge acco(nts in departent stores0 %otels0 and so

on. A c%arge coin (s(all, %ad t%e c%arge acco(nt n(ber

along wit% t%e erc%antEs nae and logo.

T%e c%arge coin oered a siple and fast wa, to cop, a

c%arge acco(nt n(ber to t%e sales slip0 b, iprinting a

sales slip wit% an iprint of t%e c%arge coin. T%is

(ickened t%e process of cop,ing0 w%ic% was pre#io(sl,

done b, %andwriting. 't also red(ced t%e ao(nt of errors

d(ring cop,ing0 b, %a#ing a standardised for of

n(bers on t%e sales slip0 instead of #ario(s kind of

%andwriting st,le.

/eca(se t%e c(stoerEs nae was not on t%e c%arge

coin0 alost an, person co(ld (se it. T%is soeties lead

to a case of istaken identit,0 eit%er accidentall, or

intentionall,0 b, acting on be%alf of t%e c%arge acco(nt

owner or o(t of alice to defra(d bot% t%e c%arge

acco(nt owner and t%e erc%ant. /eginning in t%e 1-3s0

erc%ants started to o#e fro c%arge coins to t%e

newer C%arga&Plate.

http://en.wikipedia.org/wiki/Handwritinghttp://en.wikipedia.org/wiki/Handwriting


27/75

Charge cards from 3estern 4nion2 oil companies2

and other companies

?estern 5nion began iss(ing c%arge cards to its fre(entc(stoers in 1-21. T%e c%arge cards fro t%is tie were

printed on paper card stock. 'n 1-3+0 se#eral copanies

started to accept eac% ot%erEs cards. 'n t%e 1-!s0 oil

copanies in t%e 5nited States (sed t%e to sellf(el and

ot%er oil based prod(cts to a growing n(ber

of a(toobile owners.

The Charga-Plate

T%e C%arga&Plate0 de#eloped in 1-2+0 was an earl,

predecessor to t%e credit card and (sed in t%e 5.S. fro

t%e 1-3s to t%e late 1-$s. 't was a 2U in R 1V in

rectangle of s%eet etal related to Addressograp% and

ilitar, dog tag s,stes. 't was ebossed wit% t%e

c(stoerEs nae0 cit,0 and state. 't %eld a sall paper

card on its back for a signat(re. 'n recording a p(rc%ase0

t%e plate was laid into a recess in t%e iprinter0 wit% a

paper Ic%arge slipI positioned on top of it. T%e record of

t%e transaction incl(ded an ipression of t%e ebossed

inforation0 ade b, t%e iprinter pressing an inked

ribbon against t%e c%arge slip.1 C%arga&Plate was a

http://en.wikipedia.org/wiki/Western_Unionhttp://en.wikipedia.org/wiki/Fuelhttp://en.wikipedia.org/wiki/Automobilehttp://en.wikipedia.org/wiki/Addressographhttp://en.wikipedia.org/wiki/Dog_tag_(identifier)http://en.wikipedia.org/wiki/Typewriter_ribbonhttp://en.wikipedia.org/wiki/Typewriter_ribbonhttp://en.wikipedia.org/wiki/Credit_card#cite_note-10http://en.wikipedia.org/wiki/Western_Unionhttp://en.wikipedia.org/wiki/Fuelhttp://en.wikipedia.org/wiki/Automobilehttp://en.wikipedia.org/wiki/Addressographhttp://en.wikipedia.org/wiki/Dog_tag_(identifier)http://en.wikipedia.org/wiki/Typewriter_ribbonhttp://en.wikipedia.org/wiki/Typewriter_ribbonhttp://en.wikipedia.org/wiki/Credit_card#cite_note-10


28/75

tradeark of 7arrington an(fact(ring Co. C%arga&Plates

were iss(ed b, large&scale erc%ants to t%eir reg(lar

c(stoers0 (c% like departent store credit cards of

toda,. 'n soe cases0 t%e plates were kept in t%e iss(ing

store rat%er t%an %eld b, c(stoers. ?%en an a(t%oriJed

(ser ade a p(rc%ase0 a clerk retrie#ed t%e plate fro

t%e storeEs les and t%en processed t%e p(rc%ase.

C%arga&Plates speeded back&oLce bookkeeping and

red(ced cop,ing errors t%at were done an(all, in paper

ledgers in eac% store.

The Air Travel Card

'n 1-3!0 Aerican Airlines and t%e Air Transport

Association siplied t%e process e#en ore wit% t%e

ad#ent of t%e Air Tra#el Card.T%e, created a n(bering

sc%ee t%at identied t%e iss(er of t%e card as well as

t%e c(stoer acco(nt. T%is is t%e reason t%e

odern5ATP cards still start wit% t%e n(ber 1. ?it% an

Air Tra#el Card0 passengers co(ld Ib(, now0 and pa,

laterI for a ticket against t%eir credit and recei#e a fteen

percent disco(nt at an, of t%e accepting airlines. /, t%e

1-!s0 all of t%e a@or doestic airlines oered Air Tra#el

Cards t%at co(ld be (sed on 1* dierent airlines. /, 1-!1

http://en.wikipedia.org/wiki/Universal_Air_Travel_Planhttp://en.wikipedia.org/wiki/Universal_Air_Travel_Planhttp://en.wikipedia.org/wiki/Universal_Air_Travel_Planhttp://en.wikipedia.org/wiki/Universal_Air_Travel_Plan


29/75

abo(t %alf of t%e airlinesE re#en(es cae t%ro(g% t%e Air

Tra#el Card agreeent. T%e airlines %ad also started

oering installent plans to l(re new tra#elers into t%e

air. 'n October 1-!+0 t%e Air Tra#el Card becae t%e rst

inter&nationall, #alid c%arge card wit%in all ebers of

t%e 'nternational Air Transport Association.

+arly general purpose charge cards: %iners Club2

Carte .lanche2 and American +5press

T%e concept of c(stoers pa,ing dierent erc%ants

(sing t%e sae card was epanded in 1-$ b, 4alp%

Sc%neider and 7rank cNaara0 fo(nders of Diners Cl(b0

to consolidate (ltiple cards. T%e Diners Cl(b0 w%ic% was

created partiall, t%ro(g% a erger wit% Dine and Sign0

prod(ced t%e rst Egeneral p(rposeE c%arge card and

re(ired t%e entire bill to be paid wit% eac% stateent.

T%at was followed b, Carte /lanc%e and in 1-$+

b, Aerican 6press w%ic% created a worldwide credit

card network Galt%o(g% t%ese were initiall, c%arge cards

t%at later on ac(ired credit card feat(resH.

http://en.wikipedia.org/wiki/International_Air_Transport_Associationhttp://en.wikipedia.org/wiki/Frank_X._McNamarahttp://en.wikipedia.org/wiki/Diners_Clubhttp://en.wikipedia.org/wiki/Charge_cardhttp://en.wikipedia.org/wiki/Carte_Blanche_(credit_card)#Carte_Blanchehttp://en.wikipedia.org/wiki/American_Expresshttp://en.wikipedia.org/wiki/International_Air_Transport_Associationhttp://en.wikipedia.org/wiki/Frank_X._McNamarahttp://en.wikipedia.org/wiki/Diners_Clubhttp://en.wikipedia.org/wiki/Charge_cardhttp://en.wikipedia.org/wiki/Carte_Blanche_(credit_card)#Carte_Blanchehttp://en.wikipedia.org/wiki/American_Express


30/75

.an/Americard and &aster Charge

5ntil 1-$+0 no one %ad a stable revolving credit nancial

s,ste b, a t%ird&part, bankM t%at was generall,accepted b, a large n(ber of erc%ants0 as opposed to

erc%ant&iss(ed re#ol#ing cards accepted b, onl, a few

erc%ants. A doJen attepts b, sall Aerican banks

%ad been attepted0 b(t didnEt last long. 'n Septeber

1-$+0 /ank of Aerica la(nc%ed

t%e BankAmericard in 7resno0 California. /ankAericard

becae t%e rst s(ccessf(l recogniJabl, odern credit

card and wit% its o#erseas aLliates0 in 1-** c%anged its

nae to 9isa. 'n 1-))0 t%e ancestor of asterCard was

born w%en a gro(p of banks establis%ed aster C%arge to

copete wit% /ankAericardM it recei#ed a signicant

boost w%en Citibank erged its own 6#er,t%ing

Card Gla(nc%ed in 1-)*H into aster C%arge in 1-)-.

6arl, credit cards in t%e 5.S.0 of w%ic% /ankAericard

was t%e ost proinent eaple0 were ass&prod(ced

and ass ailed (nsolicited to bank c(stoers w%o were

t%o(g%t to be good credit risks. /(t0 IT%e, %a#e been

ailed o to (neplo,ables0 dr(nks0 narcotics addicts

and to cop(lsi#e debtors0 a process President ;o%nsonEs

http://en.wikipedia.org/wiki/Bank_of_Americahttp://en.wikipedia.org/wiki/BankAmericardhttp://en.wikipedia.org/wiki/Fresno,_Californiahttp://en.wikipedia.org/wiki/VISA_(credit_card)http://en.wikipedia.org/wiki/MasterCardhttp://en.wikipedia.org/wiki/Citibankhttp://en.wikipedia.org/wiki/Everything_Cardhttp://en.wikipedia.org/wiki/Everything_Cardhttp://en.wikipedia.org/wiki/Bank_of_Americahttp://en.wikipedia.org/wiki/BankAmericardhttp://en.wikipedia.org/wiki/Fresno,_Californiahttp://en.wikipedia.org/wiki/VISA_(credit_card)http://en.wikipedia.org/wiki/MasterCardhttp://en.wikipedia.org/wiki/Citibankhttp://en.wikipedia.org/wiki/Everything_Cardhttp://en.wikipedia.org/wiki/Everything_Card


31/75

Special Assistant /ett, 7(rness fo(nd #er, like Egi#ing

s(gar to diabeticsE.I T%ese ass ailings were known as

IdropsI in banking terinolog,0 and were o(tlawed in

1-* d(e to t%e nancial c%aos t%e, ca(sed. owe#er0 b,

t%e tie t%e law cae into eect0 1 illion credit cards

%ad been dropped into t%e 5.S. pop(lation. After 1-*0

onl, credit card applications co(ld be sent (nsolicited in

ass ailings.

%evelopment of credit cards outside (orth America

T%e fract(red nat(re of t%e 5.S. banking s,ste (nder

t%e 8lassWSteagall Act eant t%at credit cards becae an

eecti#e wa, for t%ose w%o were tra#eling aro(nd t%e

co(ntr, to o#e t%eir credit to places w%ere t%e, co(ld

not directl, (se t%eir banking facilities. T%ere are now

co(ntless #ariations on t%e basic concept of re#ol#ing

credit for indi#id(als Gas iss(ed b, banks and %onored b,

a network of nancial instit(tionsH0 incl(ding organiJation&

branded credit cards0 corporate&(ser credit cards0 store

cards and so on.

In 16772 .arclaycard in the 48 launched the 9rst

credit card outside of the 4!$!

http://en.wikipedia.org/wiki/Diabeticshttp://en.wikipedia.org/wiki/Glass%E2%80%93Steagall_Acthttp://en.wikipedia.org/wiki/Barclaycardhttp://en.wikipedia.org/wiki/UKhttp://en.wikipedia.org/wiki/Diabeticshttp://en.wikipedia.org/wiki/Glass%E2%80%93Steagall_Acthttp://en.wikipedia.org/wiki/Barclaycardhttp://en.wikipedia.org/wiki/UK


32/75

Alt%o(g% credit cards reac%ed #er, %ig% adoption le#els

in t%e 5S0 Canada and t%e 5 in t%e id twentiet%

cent(r,0 an, c(lt(res were ore cas%&oriented0 or

de#eloped alternati#e fors of cas%&less pa,ents0 s(c%

as Carte ble(e or t%e 6(rocard G8eran,0 7rance0

SwitJerland0 and ot%ersH. 'n t%ese places0 adoption of

credit cards was initiall, (c% slower. /eca(se of strict

reg(lations regarding banking s,ste o#erdrafts0 soe

co(ntries0 7rance in partic(lar0 were (c% faster to

de#elop and adopt c%ip&based credit cards w%ic% are now

seen as a@or anti&fra(d credit de#ices. Debit

cards and online banking G(sing eit%er ATs or PCsH are

(sed ore widel, t%an credit cards in soe co(ntries. 't

took (ntil t%e 1--s to reac% an,t%ing like t%e percentage

arket&penetration le#els ac%ie#ed in t%e 5S0 Canada0 or

5. 'n soe co(ntries0 acceptance still reains low as t%e

(se of a credit card s,ste depends on t%e banking

s,ste of eac% co(ntr,. ?%ile in ot%ers0 a co(ntr,

soeties %ad to de#elop its own credit card network0

e.g. 5Es /arcla,card

and A(straliaEs /ankcard. ;apan reains a #er, cas%

oriented societ,0 wit% credit card adoption being liited

ainl, toward t%e largest of erc%antsM alt%o(g% stored

http://en.wikipedia.org/wiki/Carte_Bleuehttp://en.wikipedia.org/wiki/Eurocard_(payment_card)http://en.wikipedia.org/wiki/Debit_cardhttp://en.wikipedia.org/wiki/Debit_cardhttp://en.wikipedia.org/wiki/Online_bankinghttp://en.wikipedia.org/wiki/Australiahttp://en.wikipedia.org/wiki/Bankcardhttp://en.wikipedia.org/wiki/Japanhttp://en.wikipedia.org/wiki/Carte_Bleuehttp://en.wikipedia.org/wiki/Eurocard_(payment_card)http://en.wikipedia.org/wiki/Debit_cardhttp://en.wikipedia.org/wiki/Debit_cardhttp://en.wikipedia.org/wiki/Online_bankinghttp://en.wikipedia.org/wiki/Australiahttp://en.wikipedia.org/wiki/Bankcardhttp://en.wikipedia.org/wiki/Japan


33/75

#al(e cards Gs(c% as telep%one cardsH are (sed

as alternati#e c(rrencies0 wit% t%e trend is toward 47'Ds

based s,stes inside cards0 cellp%ones0 and ot%er

ob@ects.

9intage0 old0 and (ni(e credit cards as collectibles

T%e design of t%e credit card itself %as becoe a a@or

selling point in recent ,ears.T%e #al(e of t%e card to t%e

iss(er is often related to t%e c(stoerEs (sage of t%e

card0 or to t%e c(stoerEs nancial wort%. T%is %as led to

t%e rise of Co&/rand and ALnit, cards0 w%ere t%e card

design is related to t%e IaLnit,I Ga (ni#ersit, or

professional societ,0 for eapleH leading to %ig%er card

(sage. 'n ost cases a percentage of t%e #al(e of t%e

card is ret(rned to t%e aLnit, gro(p.

A growing eld of n(isatics Gst(d, of one,H0 or ore

specicall, eon(ia Gst(d, of one,&like ob@ectsH0 credit

card collectors seek to collect #ario(s ebodients of

credit fro t%e now failiar plastic cards to older paper

erc%ant cards0 and e#en etal tokens t%at were

accepted as erc%ant credit cards. 6arl, credit cards

were ade of cell(loidplastic0 t%en etal and ber0 t%en

http://en.wikipedia.org/wiki/Telephone_cardshttp://en.wikipedia.org/wiki/Telephone_tokenhttp://en.wikipedia.org/wiki/Affinity_credit_cardhttp://en.wikipedia.org/wiki/Numismaticshttp://en.wikipedia.org/wiki/Exonumiahttp://en.wikipedia.org/wiki/Metalhttp://en.wikipedia.org/wiki/Celluloidhttp://en.wikipedia.org/wiki/Fiberhttp://en.wikipedia.org/wiki/Telephone_cardshttp://en.wikipedia.org/wiki/Telephone_tokenhttp://en.wikipedia.org/wiki/Affinity_credit_cardhttp://en.wikipedia.org/wiki/Numismaticshttp://en.wikipedia.org/wiki/Exonumiahttp://en.wikipedia.org/wiki/Metalhttp://en.wikipedia.org/wiki/Celluloidhttp://en.wikipedia.org/wiki/Fiber


34/75

paper0 and are now ostl, pol,#in,l c%loride GP9CH

plastic.

http://en.wikipedia.org/wiki/Polyvinyl_chloridehttp://en.wikipedia.org/wiki/Polyvinyl_chloride


35/75

69O"5T'ON

an, people t%ink of credit cards as a odern da,

con#enience0 b(t t%e %istor, of t%e earliest credit cardsact(all, dates back to t%e earl, 1-s. Toda,0 a@or

copanies like Disco#er0 9isa0 astercard0 and Aerican

6press are a coon sig%t. T%e concept of (sing credit

to p(rc%ase goods and ser#ices0 %owe#er0 is soet%ing

t%at is not new. illions of Aericans c(rrentl, %old soe

for of credit card debt. ?%ile credit cards can create

ore debt for an, %o(se%olds0 t%e, are also a

con#enient wa, to ake p(rc%ases0 and can ser#e people

well in t%e e#ent of an eergenc,. A long tie ago0

people knew t%at t%e (se of credit was a %elpf(l tool for

t%ose w%o needed soet%ing iediatel,0 and t%e%istor, of credit cards s%ows %ow far t%e ind(str, %as

coe.

/efore a@or copanies and banks iss(ed act(al credit

cards0 indi#id(al retailers0 erc%ants0 and ot%er pro#iders

wo(ld oer lines of credit to t%eir c(stoers. ?%ile t%erst credit card in#ented wo(ld not coe along (ntil t%e

1-!s0 t%is et%od of (sing credit is often attrib(ted as

t%e grandfat%er of credit cards. Originall,0 t%is was sa#ed


36/75


37/75

Anot%er earl, credit card was t%e Diners Cl(b card0 w%ic%

was in#ented in 1-!-. T%e idea for t%is credit card cae

abo(t w%en a b(sinessan b, t%e nae of 7rank

cNaara went o(t for an iportant dinner. ?%ile %e

was o(t0 %e realiJed %e %ad left %is wallet at %oe and

was (nable to pa, for t%e dinner. Soe%ow %e anaged

to be able to pa,0 b(t %ad t%e idea t%at t%ere %ad to be

ot%er wa,s to pa, for t%ings ot%er t%an cold0 %ard cas%.

Soon %e was working wit% %is b(siness partner and t%e,

de#eloped t%e Diners Cl(b Card0 w%ic% was originall, on a

piece of cardboard. ;(st two ,ears later0 o#er 20

people %ad a Diners Cl(b Card. 't was (sed ostl, for

eating and entertainent and was known as a c%arge

card0 eaning t%at t%e balance %ad to be paid copletel,

o eac% ont%.

Aerican 6press %ad been in eistence since t%e 1+$s0

b(t it was not (ntil 1-$+ t%at t%e copan, introd(ced

t%eir rst credit card on a sall piece of p(rple plastic. 'n

all of t%e %istor, of credit cards0 A6X was t%e rst to (se

plastic in t%eir aterial instead of paper or cardboard.

Soon0 Aerican 6press %ad taken o and becae t%e

ost widel, (sed credit card in t%e co(ntr,0 and co(ld

clai one illion card%olders wit%in t%e rst #e ,ears of


38/75

originating. Toda,0 banks and corporations across t%e

globe iss(e credit cards to people0 and t%e, are per%aps

t%e ost coon for of pa,ent in t%e world.

6#er,t%ing fro airplane tickets to cosetics and

groceries can be p(rc%ased wit% a credit card. T%e

'nternet %as epanded t%e (se of credit cards0 aking

t%e t%e n(ber one preferred et%od of pa,ent net

to cas%.


39/75

T:P6S O7 C46D'T CA4DS

Credit cards %a#e coe to t%e resc(e of people wit% %ot

pockets. T%e,0 nowada,s0 p(t t%eir tr(st in t%e inno#ation

of credit cards w%ere t%e, need not carr, large s(s of

one, wit% t%eM instead sipl, carr, a credit card

w%ic% is linked (p wit% t%eir bank acco(nt enabling t%e

to ake pa,ents wit%o(t batting an e,e.

't is a trend0 now0 to ake pa,ents at a %otel0

resta(rant or a departental store all (sing a credit

card. /eca(se of t%e fear of oneEs bank acco(nt details

being swiped and stolen0 ore and ore credit cards are

ade sec(re so t%at e#en if a credit card is stolen0 t%e

one, in oneEs bank acco(nt sta,s safe.

Credit cards now are of #ario(s t,pes wit% dierent fees0

interest rates and rewarding progras. ?%en appl,ing for

a credit card0 it is iportant to learn of t%eir di#erse t,pes

to know t%e one best s(ited to t%eir lifest,le and nancial

stat(s. Dierent t,pes of credit cards a#ailable b, banks

and ot%er copaniesorganiJations are brieK, described

below.


40/75

$tandard Credit Card: T%is is t%e ost coonl, (sed.

One is allowed to (se one, (p to a certain liit. T%eacco(nt %older %as to top (p t%e ao(nt once t%e le#el of

t%e balance goes down. An o(tstanding balance gets a

penalt, c%arge.

Premium Credit Card: T%is %as a (c% %ig%er bank

acco(nt and fees. 'ncenti#es are oered in t%is o#er and

abo#e t%at in a standard card. Credit card %olders are

oered tra#el incenti#es0 reward points0 cask back and

ot%er rewards on t%e (se of t%is card. T%is is also called

t%e 4eward Credit Card. Soe eaples areF airlines

fre(ent Kier credit card0 cas% back credit card0

a(toobile an(fact(rersE rewards credit card. Platin(

and 8old0 asterCard and 9isa card fall into t%is categor,.

$ecured Credit Card: People wit%o(t credit %istor, or

wit% tarnis%ed credit can a#ail t%is card. A sec(rit,

deposit is re(ired ao(nting to t%e sae as t%e credit

liit. 4e#ol#ing balance is re(ired according to t%e

Eb(,ing and sellingE done.


41/75

#imited Purpose Credit Card: T%ere is liitation to its

(se and is to be (sed onl, for partic(lar applications. T%isis (sed for establis%ing sall credits s(c% as gas credits

and credit at departental stores. inial c%arges are

le#ied.

Charge Credit Card: T%is re(ires t%e card %older to

ake f(ll pa,ent of t%e balance e#er, ont% and

t%erefore t%ere is no liit to credit. /eca(se of t%e

spending Keibilit,0 t%e card %older is epected to %a#e a

%ig%er incoe le#el and %ig% credit score. Penalt, is

inc(rred if f(ll pa,ent of t%e balance is not done in tie.

$pecialty Credit Card: is (sed for b(siness p(rposes

enabling b(sinessen to keep t%eir b(sinesses

transactions separatel, in a con#enient wa,. C%arge

cards and standard cards are a#ailable for t%is. Also0

st(dents enrolled in an accredited !&,ear

college(ni#ersit, co(rse can a#ail t%is benet.


42/75

Prepaid Credit Card: ere0 one, is loaded b, t%e card

%older on to t%e card. 't is like a debit card ecept t%at itis not tied (p wit% a bank acco(nt.


43/75

"6AD'N8 /AN P4O9'D'N8 C46D'T CA4DS

+$ .A(8 Ame5 Credit Cards

:6S /AN in partners%ip wit% Aerican 6press is

delig%ted to present a prei( range of Cards t%at oers

a %ost of benets and pri#ileges like ne#er before.

;alue Added bene9ts o


44/75

• 6n@o, Platin( Concierge Ser#ices 2!* for an,t%ing

t%at ,o( a, need & dining reser#ations0 deli#ering

Kowers and ore

American +5press Platinum Travel Credit Card

• 6n@o, t%e fastest wa, to coplientar, tra#el

coplete wit% Kig%t tickets aboard 'ndi8o and a l((r,

sta, at t%e Ta@ 8ro(p

• 4ecei#e ,o(r ?elcoe 8iftY of $0 /on(s

ebers%ip 4ewards Points redeeable for a 4s.!0

'ndi8o #o(c%er

• 6perience t%e renowned Aerican 6press Platin(

Ser#ice

American +5press =old Card

• A(toatic enrolent into one of t%e ost powerf(l

prograes in t%e co(ntr, & T%e ebers%ip 4ewards

Prograe

• 6arn 10 bon(s ebers%ip 4ewards Points

ont%l, for sipl, (sing ,o(r Card ! ties in a ont%Y

• 6perience t%e 8old Standard of Ser#ice wit% Zero

"ost Card "iabilit, and Online 7ra(d Protection


45/75

• 7leibilit, in spending wit% no pre&set spending liit


46/75

CANA4A C46D'T CA4D

Canara Credit Card is designed to eet ,o(r life st,le

wit% an,t%ing ,o( ig%t need to ake ,o(r eperience a

s%eer pleas(re. No atter w%ere ,o( are across t%e

world0 l((r, and cofort is alwa,s at %and.

O(r cards en@o, t%e pri#ilege of worldwide acceptance

and free ins(rance co#erage against t%e risk of deat% d(e

to accident. Canara Credit Cards are backed b, a wide

network of CANA4A /AN branc%es and 2! Card Ser#ice

centers located at an, iportant cities spread across

t%e co(ntr,. CANA4A /AN is t%e principal eber of

9'SA&?O4"D?'D6 and AST64CA4D 'NC.

O(r credit card prod(cts

1!;I$A Credit Cards

Classic

=old > +&; ?

)!&aster Credit Cards

$tandard


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=old > +&; ?

*!Corporate Credit Card > +&; ?

CA(ARA CR+%IT CAR% PRI;I#+=+$:

• Canara Credit Card is accepted t%ro(g%o(t t%e world

• ini( 8ross incoe to get CANA4A CA4D is

4s.10 p.a. onl,.

• "iberal Card liit. 8et (p to 3[ of ,o(r gross ann(al

incoe as ,o(r Card liit. 7iing of t%e liit is at t%e

sole discretion of Canara /ank.

• Cas% wit%drawal liit (p to $[ of ,o(r card liit

Gai( 4s. $0 onl,H.

Cas% wit%drawal c%arges onl, 4s.3 per t%o(sand.

ini( 4s.3 onl,.

• 7ree Credit period fro 2&$ da,s

• Cas% wit%drawal facilit, at all ATs of Canara bank \

ot%er /ank ATs.


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• (o Interest on cash 0ithdra0al if paid by the

due date! If not paid by the %4+ %AT+2

interest is charged from %4+ %AT+ only and

not from the %AT+ "@ CA$

3IT%RA3A#!

• No nancial c%arges] i.e.0 interest on s(bse(ent

transactions till it becoes d(e0 for t%e c(stoers

%a#ing re#ol#ing facilit,.

• Opt for 4e#ol#ing Pa,ent s,ste and pa, onl, $[

of t%e billed ao(nt and defer t%e

pa,ent. Carried o#er balance attracts ser#ice

c%arges at 2.$[ p.. pl(s applicable

ser#ice ta onl,.

• ?e pro#ide free accident 'ns(rance to ,o( and ,o(r

spo(se too against t%e risk of

deat% d(e to accident.

• "ost Card protection] "iabilit, restricted to 4s.10

onl, fro t%e tie of reporting.

• 7ree card replaceent in case of (tilation loss of

card.


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• 7ree SS alerts on all transactions. Please pro#ide

,o(r obile P%one n(ber for acti#ating t%is facilit,.


50/75


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o#er 2- illion locations and +0 ATs t%e world

o#er.

• .obcard +5clusive 3oman -t%is card is tailor

ade to eet t%e needs of toda,Es woan. T%is card

can be accessed in ore t%an 2- illion locations

and ore t%an +0 ATs t%e world o#er.

• .obcard +5clusive outh - t%is card is tailor

ade to eet t%e needs of toda,Es 'ndian ,o(t%. T%is

card can be accessed in ore t%an 2- illion

locations and ore t%an +0 ATs t%e world

o#er.

• .obcard $ilver - t%is card %as aLliation of 9isa

international and is accepted t%e world o#er.

• .obcard Corporate =lobal - ALliated to 9isa

'nternational0 t%is card can be accessed t%ro(g%o(t

t%e world in ore t%an 3 illion co(nters and in

ore t%an +00 9isa ATEs t%e world o#er.


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C%apter 2 Case st(d,


53/75

'C'C' /ank

P4O7'"6

s. C%anda oc%%ar is t%e anaging Director and C%ief 6ec(ti#e OLcer of 'C'C' /ank "iited0 'ndiaEs second&largest bank and t%e largest in t%e pri#ate sector. S%e iswidel, recognised for %er role in s%aping t%e retailbanking sector in 'ndia and for %er leaders%ip of t%e 'C'C'8ro(p0 as well as %er contrib(tions to #ario(s for(s in'ndia and globall,.

s. oc%%ar began %er career0 wit% erstw%ile 'C'C'"iited in 1-+! and was ele#ated to t%e /oard of Directors of 'C'C' /ank in 21. S%e was instr(ental inestablis%ing 'C'C' /ank d(ring t%e 1--s0 ands(bse(entl, %eaded t%e infrastr(ct(re nance andcorporate banking b(siness in 'C'C' "iited. 'n 20 s%etook on t%e c%allenge of b(ilding t%e nascent retail

b(siness0 wit% strong foc(s on tec%nolog,0 inno#ation0process reengineering and epansion of distrib(tion andscale. T%e /ank ac%ie#ed a leaders%ip position in t%isb(siness. D(ring 2)&2*0 s%e s(ccessf(ll, led t%e/ankEs corporate and international banking b(sinessesd(ring a period of %eig%tened acti#it, and globalepansion b, 'ndian copanies. 7ro 2* to 2-0 s%ewas t%e ;oint anaging Director \ C%ief 7inancial OLcer

d(ring a critical period of rapid c%ange in t%e globalnancial landscape. S%e was ele#ated as anagingDirector \ C6O of 'C'C' /ank in 2- and is responsiblefor t%e /ankEs di#erse operations in 'ndia and o#erseas.S%e also c%airs t%e boards of t%e /ankEs principal


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s(bsidiaries0 w%ic% incl(de 'ndiaEs leading pri#ate sectorlife and general ins(rance copanies.

S%e was conferred wit% t%e Pada /%(s%an0 one of 'ndiaEs %ig%est ci#ilian %ono(rs0 in 211.


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56/75

I(TR"%4CTI"( "@ ICICI

ICICI .an/ is an 'ndian(ltinational banking and nancial ser#ices copan,%ead(artered in 9adodara. As of 21! it is t%e secondlargest bank in 'ndia in ters of assets and arketcapitaliJation. 't oers a wide range of banking prod(ctsand nancial ser#ices for corporate and retailc(stoers t%ro(g% a #ariet, of deli#er, c%annels andspecialiJed s(bsidiaries in t%e areas of in#estent

banking0life0 non&life ins(rance0 #ent(re capital and assetanageent. T%e /ank %as a network of 30+ branc%esand 1101)2 ATs in 'ndia0 and %as a presence in 1-co(ntries.

'C'C' /ank is one of t%e /ig 7o(r banks of 'ndia0 along

wit% State /ank of 'ndia0 P(n@ab National /ank and /ankof /aroda. T%e bank %as s(bsidiaries in t%e 5nitedingdo0 4(ssia0 and CanadaM branc%es in 5nited States0Singapore0 /a%rain0 ong ong0 Sri "anka0 ^atar andD(bai 'nternational 7inance CentreM and representati#eoLces in 5nited Arab 6irates0 C%ina0 So(t% Africa0/anglades%0 T%ailand0 ala,sia and 'ndonesia. T%ecopan,Es 5 s(bsidiar, %as also establis%ed branc%es in/elgi( and 8eran,.

'n arc% 2130 Operation 4ed Spider s%owed %ig%&ranking oLcials and soe eplo,ees of 'C'C' /ankin#ol#ed in one, la(ndering. Aftera go#ernent in(ir,0 'C'C' /ank s(spended 1+

http://en.wikipedia.org/wiki/Bankhttp://en.wikipedia.org/wiki/Financial_serviceshttp://en.wikipedia.org/wiki/Vadodarahttp://en.wikipedia.org/wiki/Market_capitalizationhttp://en.wikipedia.org/wiki/Market_capitalizationhttp://en.wikipedia.org/wiki/Retail_bankinghttp://en.wikipedia.org/wiki/Retail_bankinghttp://en.wikipedia.org/wiki/Investment_bankinghttp://en.wikipedia.org/wiki/Investment_bankinghttp://en.wikipedia.org/wiki/Life_insurancehttp://en.wikipedia.org/wiki/Non-life_insurancehttp://en.wikipedia.org/wiki/Venture_capitalhttp://en.wikipedia.org/wiki/Asset_managementhttp://en.wikipedia.org/wiki/Asset_managementhttp://en.wikipedia.org/wiki/Automated_teller_machinehttp://en.wikipedia.org/wiki/Big_Four_(banks)#Indiahttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/Punjab_National_Bankhttp://en.wikipedia.org/wiki/Bank_of_Barodahttp://en.wikipedia.org/wiki/Bank_of_Barodahttp://en.wikipedia.org/wiki/Operation_Red_Spiderhttp://en.wikipedia.org/wiki/Money_launderinghttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Bankhttp://en.wikipedia.org/wiki/Financial_serviceshttp://en.wikipedia.org/wiki/Vadodarahttp://en.wikipedia.org/wiki/Market_capitalizationhttp://en.wikipedia.org/wiki/Market_capitalizationhttp://en.wikipedia.org/wiki/Retail_bankinghttp://en.wikipedia.org/wiki/Retail_bankinghttp://en.wikipedia.org/wiki/Investment_bankinghttp://en.wikipedia.org/wiki/Investment_bankinghttp://en.wikipedia.org/wiki/Life_insurancehttp://en.wikipedia.org/wiki/Non-life_insurancehttp://en.wikipedia.org/wiki/Venture_capitalhttp://en.wikipedia.org/wiki/Asset_managementhttp://en.wikipedia.org/wiki/Asset_managementhttp://en.wikipedia.org/wiki/Automated_teller_machinehttp://en.wikipedia.org/wiki/Big_Four_(banks)#Indiahttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/Punjab_National_Bankhttp://en.wikipedia.org/wiki/Bank_of_Barodahttp://en.wikipedia.org/wiki/Bank_of_Barodahttp://en.wikipedia.org/wiki/Operation_Red_Spiderhttp://en.wikipedia.org/wiki/Money_launderinghttp://en.wikipedia.org/wiki/Government_of_India


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eplo,ees and faced penalties fro t%e 4eser#e /ank of'ndia in relation to t%e acti#it,!

http://en.wikipedia.org/wiki/Reserve_Bank_of_Indiahttp://en.wikipedia.org/wiki/Reserve_Bank_of_Indiahttp://en.wikipedia.org/wiki/Reserve_Bank_of_Indiahttp://en.wikipedia.org/wiki/Reserve_Bank_of_India


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I$T"R "@ ICICI .A(8

'C'C' /ank was establis%ed b, t%e Industrial Credit andInvestment Corporation of India >ICICI?0 an 'ndiannancial instit(tion0 as a w%oll, owned s(bsidiar, in1--!. T%e parent copan, was fored in 1-$$ as a @oint&#ent(re of t%e ?orld /ank0 'ndiaEs p(blic&sector banksand p(blic&sector ins(rance copanies to pro#ide pro@ectnancing to 'ndian ind(str,. T%e bank was initiall, knownas t%e 'nd(strial Credit and 'n#estent Corporation of

'ndia /ank0 before it c%anged its nae to t%eabbre#iated 'C'C' /ank. T%e parent copan, was latererged wit% t%e bank.

'C'C' /ank la(nc%ed internet banking operations in 1--+.

'C'C'Es s%are%olding in 'C'C' /ank was red(ced to!) percent0 t%ro(g% a p(blic oering of s%ares in 'ndia in

1--+0 followed b, an e(it, oering in t%e forof Aerican Depositar, 4eceipts on t%e N:S6 in 2.'C'C' /ank ac(ired t%e /ank of ad(ra "iited in an all&stock deal in 21 and sold additional stakes toinstit(tional in#estors d(ring 21&2.

'n t%e 1--s0 'C'C' transfored its b(siness fro ade#elopent nancial instit(tion oering onl, pro@ectnance to a di#ersied nancial ser#ices gro(p0 oering a

wide #ariet, of prod(cts and ser#ices0 bot% directl, andt%ro(g% a n(ber of s(bsidiaries and aLliates like 'C'C'/ank. 'n 1---0 'C'C' becoe t%e rst 'ndian copan, andt%e rst bank or nancial instit(tion fro non&;apan Asiato be listed on t%e N:S6.

http://en.wikipedia.org/wiki/World_Bankhttp://en.wikipedia.org/wiki/American_Depositary_Receipthttp://en.wikipedia.org/wiki/NYSEhttp://en.wikipedia.org/wiki/Bank_of_Madurahttp://en.wikipedia.org/wiki/World_Bankhttp://en.wikipedia.org/wiki/American_Depositary_Receipthttp://en.wikipedia.org/wiki/NYSEhttp://en.wikipedia.org/wiki/Bank_of_Madura


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'n 20 'C'C' /ank becae t%e rst 'ndian bank to list ont%e New :ork Stock 6c%ange wit% its #e illionAerican depositor, s%ares iss(e generating a deandbook 13 ties t%e oer siJe.

'n October 210 t%e /oards of Directors of 'C'C' and 'C'C'/ank appro#ed t%e erger of 'C'C' and two of its w%oll,owned retail nance s(bsidiaries0 'C'C' Personal 7inancialSer#ices "iited and 'C'C' Capital Ser#ices "iited0 wit%'C'C' /ank. T%e erger was appro#ed b, s%are%olders of'C'C' and 'C'C' /ank in ;an(ar, 220 b, t%e ig% Co(rt of8(@arat at A%edabad in arc% 22 and b, t%e ig%

Co(rt of ;(dicat(re at (bai and t%e 4eser#e /ank of'ndia in April 22.

'n 2+0 following t%e 2+ nancial crisis0 c(stoersr(s%ed to 'C'C' ATs and branc%es in soe locations d(eto r(o(rs of ad#erse nancial position of 'C'C' /ank. T%e4eser#e /ank of 'ndia iss(ed a clarication on t%enancial strengt% of 'C'C' /ank to dispel t%e r(o(rs.

http://en.wikipedia.org/wiki/Gujarat_High_Courthttp://en.wikipedia.org/wiki/Gujarat_High_Courthttp://en.wikipedia.org/wiki/2008_financial_crisishttp://en.wikipedia.org/wiki/Gujarat_High_Courthttp://en.wikipedia.org/wiki/Gujarat_High_Courthttp://en.wikipedia.org/wiki/2008_financial_crisis


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/AN'N8 P4OD5CTS

$avings Account

6n@o, en%anced #al(e and benets wit% an 'C'C' /ank

Sa#ings Acco(nt.

@amily 3ealth Account

S%are ,o(r 'C'C' /ank ?ealt% anageent benets wit%

,o(r entire fail,.

ome #oans

/(ild ,o(r drea %oe wit% one of t%e leading oe

"oan pro#iders.

Car #oans

Own t%e l((r, car of ,o(r dreas wit% an 'C'C' /ank Car

"oan.

@oreign +5change $ervices

Siplif, ,o(r tra#el wit% o(r 7oreign C(rrenc,0 Tra#ellers

C%e(es and Tra#el Card.

#oc/ers

http://www.icicibank.com/wealth-management/personal/savingsaccount.page?http://www.icicibank.com/wealth-management/personal/familywealthaccount.page?http://www.icicibank.com/wealth-management/personal/homeloans.page?http://www.icicibank.com/wealth-management/personal/carloans.page?http://www.icicibank.com/wealth-management/personal/foreignexchangeservices.page?http://www.icicibank.com/wealth-management/personal/lockers.page?http://www.icicibank.com/wealth-management/personal/savingsaccount.page?http://www.icicibank.com/wealth-management/personal/familywealthaccount.page?http://www.icicibank.com/wealth-management/personal/homeloans.page?http://www.icicibank.com/wealth-management/personal/carloans.page?http://www.icicibank.com/wealth-management/personal/foreignexchangeservices.page?http://www.icicibank.com/wealth-management/personal/lockers.page?


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eep ,o(r #al(ables safe wit% 'C'C' /ankEs Safe Deposit

"ocker facilities.

%emat Account

6n@o, 2!* access to ,o(r %oldings wit% a Deat Acco(nt

linked to ,o(r ?ealt% Acco(nt.

http://www.icicibank.com/wealth-management/personal/demataccount.page?http://www.icicibank.com/wealth-management/personal/demataccount.page?


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=o green initiative

T%e 8o 8reen 'nitiati#e is an organisation wide initiati#e

t%at o#es be,ond o#ing people0 processes and

c(stoers to cost eecti#e a(toated c%annels to b(ild

awareness and conscio(sness of o(r en#ironent0 o(r

nation and o(r societ,.

"bective

'C'C' /ankEs 8reen initiati#e is to ake %ealt%,

en#ironent in t%e organisation i.e.M to create

intrapersonal skills aongs t%e c(stoer and

(nderstanding between eplo,ees of t%e organisation.

/road ob@ecti#es of t%e 'C'C' areF


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1. to assist in t%e creation0 epansion and

odernisation of pri#ate concerns.

2. to enco(rage t%e participation of internal andeternal capital in t%e pri#ate concerns.

3. to enco(rage pri#ate owners%ip of ind(strial

in#estent.

=reen products and services

Instaban/ing

't is t%e platfor t%at brings toget%er all alternate

c%annels (nder one (brella and gi#es c(stoers t%e

option of banking t%ro(g% 'nternet banking0 i&obile

banking0 '94 /anking.

;ehicle @inance

A(to loans oer $[ wai#er on processing fee on car

odels w%ic% (ses alternate ode of energ,. T%e odels

identied for t%e p(rpose are0 ar(tiEs "P8 #ersion of

ar(ti +0 Oni and 9ersa0 ,(ndaiEs Santro 6co0 Ci#ic


65/75

,brid of onda0 4e#a electric cars0 Tata 'ndica CN8 and

a%indra "ogan CN8 #ersions .

Carbon @ootprint Calculator

'np(ts incl(de region0 (ser inp(t of t%e distance tra#eled

in a partic(lar edi( of transport dail,0 electricit,

cons(ed per ont% and "P8 c,linderpiped nat(ral gas

(sed per ont%. 't calc(lates t%e net carbon footprint to

create awareness and sensitiJe people abo(t t%een#ironent. 't also s%ows t%e worldEs and 'ndiaEs

a#erage carbon footprint .

$ubsidiaries

Doestic

_ 'C'C' Pr(dential "ife 'ns(rance Copan, "iited

_ 'C'C' "obard 8eneral 'ns(rance Copan, "iited

_ 'C'C' Pr(dential Asset anageent Copan, "iited

_ 'C'C' Pr(dential Tr(st "iited

_ 'C'C' Sec(rities "iited

_ 'C'C' Sec(rities Priar, Dealers%ip "iited


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_ 'C'C' 9ent(re 7(nds anageent Copan, "iited

_ 'C'C' oe 7inance Copan, "iited

_ 'C'C' 'n#estent anageent Copan, "iited

_ 'C'C' Tr(stees%ip Ser#ices "iited

_ 'C'C' Pr(dential Pension 7(nds anageent

Copan, "iited

'nternational

_ 'C'C' /ank 5 P"C

_ 'C'C' /ank Canada

_ 'C'C' /ank 6(rasia "iited "iabilit, Copan,

_ 'C'C' Sec(rities oldings 'nc.

_ 'C'C' Sec(rities 'nc.

_ 'C'C' 'nternational "iited

A0ards

2!

_ /est /ank in 'ndia Award presented b, 6(roone,

agaJine3+

2*


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_ 'C'C' /ank %as been conferred t%e 6(roone, Award

2* for t%e /est /ank in t%e Asia&Pacic 4egion

_ 'C'C' /ank wins t%e 6cellence in 4eittance/(siness award b, T%e Asian /anker!

2-

_ 'C'C' /ank bags t%e I/est bank in S6 nancing

GPri#ate SectorHI at t%e D(n \ /radstreet /anking awards

211

_ 'C'C' /ank is t%e onl, 'ndian brand to g(re in t%e

brandJ Top 1 ost 9al(able 8lobal /rands 4eport0

second ,ear in a row

212

_ Airtel0 'C'C' aong Etop 1 global brandsE

213

_ 'C'C' /ank %as been ad@(dged winner at t%e 6press

'T 'nno#ation Award (nder t%e "arge 6nterprise categor,


68/75


69/75


70/75

T%at is w%at is iplied b, /ig Data.

Card issuers 0ill capitaliBe on mobile devices!

Closel, tied to t%eir p(s% to capitaliJe on t%eir data0

banks see a f(t(re w%ere t%e, can present t%ese oers to

t%eir c(stoers in real tie.

/, cobining location inforation and spending data0

banks can present c(stoers oers t%at t%e, can act on

w%en awa, fro t%eir cop(ters.

T%e (estion t%en becoes0 will card%olders #al(e t%ese

oers0 or nd t%e to be a n(isance /anks are betting

t%at t%e ore rele#ant t%e, are0 t%e less of an iss(e t%e,

will be.

/anks also %ope to oer card%olders not @(st deals and

oers0 b(t #al(able inforation to %elp t%e anage

t%eir spending.

'n a follow&(p inter#iew ' %ad wit% S%ane oldawa,0

anaging 9ice President of 5S Cards for Capital One0 %e

described a f(t(re w%ere %is bank wo(ld oer inforation

to cons(ers abo(t %ow t%e, spend0 and %ow to spend

sarter.


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'n %is #ision0 ,o(r credit card becoes a b(dgeting tool

rat%er t%an @(st a et%od of pa,ent and nance.

.an/s 0ill o


72/75

+5pect less un/ mail2 but more social media

mar/eting

att%ew assa(a0 Senior Director 5S Card for

/arcla,card0 ade t%e point t%at credit card arketing is

c%anging to eet t%e ties.

According to assa(a0 social edia arketing of credit

cards is growing w%ile direct ail arketing is starting todecline. 'n fact0 /arcla,card %as lead t%e wa, in

integrating social edia wit% its credit card prod(cts b,

introd(cing its inno#ati#e 4ing card.

Da#id 8old0 8eneral anger of Partners%ips for C%ase

Card Ser#ices0 %ig%lig%ted t%e iportance of new edia

to t%e credit card ind(str,.

'n fact0 %e noted t%at %e wakes (p e#er, da, worried

abo(t w%at will be written online abo(t %is prod(cts b,

bloggers w%o foc(s on %ow an, cents t%e, can get o(t

of of eac% point.

Ot%ers on t%e panel also aditted following blogs and

ot%er online o(tlets closel,. So w%en ,o( read a site like

t%is0 ,o( can be s(re t%at t%e banks are listening0 too.


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The industry 0ill undergo an evolution2 not a

revolution

C%ange is coing0 b(t it won


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CONCLUSION

The credit card issue in terms of number of credit cards witnessed a

whopping growth during the past five years. In terms of key playersICICI has notched the landmark figure of 90 lakh credit cards by 2008

taking the position of number one player in the segment. It is further

concluded that there are a number of bank customers who do not have

any knowledge about credit cards. Many people have knowledge about

credit cards,but do not possess credit cards because of the fear of falling

into debt trap. High income earners and highly educated class use credit

cards more, availing high credit limits.

Extent of usage of credit cards is smaller among higher proportion of the

card holders. Customers satisfaction is found to be less because of high

rate of interest. Customers perceived core services and facilitating

services at higher level. Card holders face the major problem of lack of

proper advice from banks. Credit card market is yet to realize its

potential.

The scenario of credit cards during 2009-2010 is very significant. Manycard holders surrender their credit cards and instead of using credit cards

the banks customers prefer debit cards. The debit cards too help

them avoid carrying cash and enable withdrawal of cash through ATM

and they need not be afraid of falling into debt trap as in the case of

credit cards. Due to financial inflation, many banks have stopped issuing

credit cards to their customers.

As people are yet to realize the complete potential of credit card, its

market is falling down.


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