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K.E.S Shroff College of Arts & Commerce: Igenious 5
K.E.S Shroff College of Arts & Commerce: Igenious 5
ARCHANA PANCHAL REKHA RAWAT SMRUTI THAKKAR SHAILESH MOURYA AKSHAY RADDI
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REDIT ARDS
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AGENDA
The prime agenda is to explain & make you understand that how credit cards are important part of financial services. Also , how does various banking sector are striving hard for credit cards marketing by adopting various competitive strategies as credit cards are ranked as one of the most profitable product that a bank offers.
A small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's
Charges interest and primarily used for short-term financing. Interest usually begins one month after a purchase is made . Borrowing limits are pre-set according to the individual's credit rating. It differs from a debit card. Credit-card use originated in the U.S. in the 1920s. The first universal credit card was issued by Diners' Club in 1950.
HISTORY
1800s - Credit coins and charge plates as currency 1900s - Credit Cards and Payment Efficiency The first bank card, named "Charg-It," introduced in 1946 by John Biggins. The next step in credit cards- the story began in 1949 when a man named Frank McNamara had a business Diners Club in New York's Major's Cabin Grill. By 1951,the card was replaced with plastic. The general-purpose credit card was born in 1966
Designed with complex security features to prevent the possibility of fraud. Unique account number Security design feature involves the signature panel on the back of the card. The magnetic stripe on the back of the card Raw material used to make credit card.
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ADVANTAGES
They allow you to make purchases on credit without carrying around a lot of cash. This allows you a lot of flexibility.
Under certain circumstances, they allow you to withhold payment for merchandise which proves defective.
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They are cheaper for short-term borrowing - interest is only paid on the remaining debt, not the full loan amount. Many cards offer additional benefits such as additional insurance cover on purchases, cash back, air miles and discounts on holidays.
DISADVANTAGES
You may become an impulsive buyer and tend to overspend because of the ease of using credit cards.
Cards can encourage the purchasing of goods and services you cannot really afford.
Credit cards are a relatively expensive way of obtaining credit if you don't use them carefully, especially because of the high interest rates and other costs.
Lost or stolen cards may result in some unwanted expense and inconvenience.
The use of a large number of credit cards can get you even further into debt. Using a credit card, introduces an element of risk resulting in fraudulent purchases on the card. Fraudulent or unauthorized charges may take months to dispute, investigate, and resolve.
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PARTIES INVOLVED
Cardholder Card-issuing bank Merchant Acquiring bank Independent sales organization Merchant account Credit Card association Transaction network Affinity partner
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Credit cards are issued by a credit card issuer, after an account has been approved by the credit provider.
The cardholder indicates consent to pay by signing a receipt Electronic verification systems. Statement and charges.
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Find out information about credit card plans. Fill out the paper application for a credit card of your choice. Apply on phone, by calling up the toll free number of the credit card company of your choice. Apply online, which is usually the easiest & fastest. Compare the different features. Check for the preconditions of applying. Fill in the details, double check the information. Apply for multiple credit cards if you choose.
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Cash back credit cards Balance transfer credit cards Low interest credit cards Life time free credit cards
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ICICI Bank VISA Signature Credit Card Rs.40,104 ICICI Bank Ascent American Express Credit Card Rs.13,264
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IN CREDIT CARD
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First, improvement in plastic chemistry and molding technology. Second, breakthrough in digital technology.
SUGGESTION
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THANK YOU
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