PROJECT REPORT

COMPARATIVE STUDY OF CREDIT

CARDS IN INDIAN MARKET\

Submitted in partial fulfillment for the award of the degree of

Master of Business Administration (MBA)

(OCT-2020)

By Sanjay Singh

Enrollment No. OCT-2020-MBA-138

Submitted to
Directorate of Distance Education
JECRC University, Jaipur (Rajasthan) - 303905
 PREFACE

There has been an unusual growth in marketing research and a great increase in the
sophistication of the techniques and used during the last two decades. The
applications of behavioral science to marketing research continue to be of major
magnitude. These days, the most exciting developments are occurring in decision
theory, advanced statistical analytical procedures, and in the application of
experiments in marketing is increasing with a tremendous pace.

Marketing should not be looked upon in a vacuum or in isolation. It is an essence

taking a view of the whole business organization and its ultimate objective concern
for marketing must penetrate all areas of the enterprise. Market surveys in today’s
competitive world are a must for every organization.

This project is study of Credit Card with various Banks in Delhi. The rationale behind
this particular study is to find out the services rendered by various banks with their
credit cards to the public at large.

To carry out this research a sample study was pursued where the target audience a
region. Various statistical and analytical tool and techniques are applied to ascertain
and depict the present scenario.

Conclusion and there by recommendations has been arrive at by proper and justified
interpretation of the result derived from the above said analytical tools and
techniques.
 ACKNOWLEDGEMENT

Completing a task is never a one – man effort. It is often the result of valuable
contributors of individuals in a direct or indirect manner ,which in shaping and
achieving an objective . Here we cannot resist the temptation of expressing our
thanks to those who have contributed greatly in accomplishing this task.

I would like to pay my gratitude for his kind attention support and giving an
opportunity to research work on “Comparative study of credit cards in Indian
Market

Sanjay Singh

Enrollment: OCT-2020-MBA-138
CONTENTS

1. Introduction
2. Origin of Credit Cards
3. History of Credit Cards
4. Credit Cards and its functions
5. What are Credit Cards?
6. Advantages of having a Credit Cards
7. Disadvantages of Credit Cards
8. Types of Credit Cards
9. Overview of various card issuers
10. Comparison of different company’s Credit Card
 Citi Bank Credit Cards
 ICICI Bank Credit Cards
 HDFC Bank Credit Cards
 Standard Chartered Bank Credit Cards
11. Research Methodology
12. Data Analysis and Data Interpretation
13. Findings
14. Reviews of people about Credit Cards
15. Conclusions
16. Recommendations
17. Limitations of the study
18. Bibliography
19. Questionnaire
INTRODUCTION
 INTRODUCTION
The concept of ‘Buy Now, Pay Later’ dates back to the late 1960s & 70s with the
introduction of plastic money in the western nations. It originated because the people
wanted a convenient and rapid means of accessing their bank accounts. Also, the
exorbitant price of money changing hands between the consumer, merchants and the
banks led to the diffusion of this concept in the banking system.
For spendthrifts and habitual borrowers plastic money induces spontaneous and on-
the-spur spending. But its advantages in terms of convenience, flexibility and safety
far outweigh its pitfalls. Provisions for easy repayment give the card the liquidity of
cash along with the accountability of credit card.
In the past 20 years these cards have proliferated the world market so successfully that
they have altered the face of retail banking. With the power of plastic ruling the
world, India cannot remain behind. With a slow and steady move towards scrip less
trading the country is moving towards cashless transactions.
The plastic money market is bubbling with activity with both Indian and foreign
banks vying to expand their market presence. While the foreign banks have been
hogging the limelight Indian banks are the slumbering giants. The latter have the
advantage of a large customer base, branch network along with low service charges.
These advantages need to be tapped to realize the full potential of these banks.
This project is an attempt to understand the acceptance of credit cards by the
consumers and how it has helped to increase the purchasing power of the consumers.
ORIGIN
 ORIGIN OF CREDIT CARDS

The credit card has its beginning in an embarrassing incident that took place in the
early 1950’s in America. The story goes that Mr. McNamara; a New York
businessman took his friends out to dinner.
At the end of meal he discovered that he had forgotten his wallet at home, the
proprietor was kind enough to allow him a later settlement of bill. As McNamara
stepped out of the restaurant he had the brainwave for the introduction of credit cards
system of availing instant credit upon confirming the identity of cardholder. Thus was
born the Diners Club Cards, the pioneer of today’s multibillion dollar plastic money
business.
Diners club adopted a promising approach by recruiting various Hotels and
restaurants to act as member establishment for accepting the cards. Not only did these
establishments pay a commission on members’ purchases but the members also paid
an annual subscription fee. Diners Club vetted its members for credit worthiness and
guaranteed payment to participating establishment. Thus was born the first ‘Travel
and Entertainment Card’. It was followed by American Express which is now a
dominant force in the Travel and Entertainment cards industry, and by 1959 by Carte
Blanche, after many vicissitudes is now a part of Citi Bank Empire together with
Diners Club. In the present time American Express leads the travel and entertainment
(T&E) card industry.

The next great leap-forward came from Bank of America, which in other banks. Such
card holders could use their card 1966 offered to license its successful blue, white and
gold Bank America card to at any accepting merchant establishments around the
globe. Later in 1977 all the national and international Bank America licenses were
pulled together under the single name of Visa.
Not to be outdone, a rival group of American Banks came together in 1966 under the
name of Interbank, later renamed Master Charge and later still Master Card. Ever
since Master Card and Visa and their affiliates have carved the world credit card
market.

In the 1980s credit card concept was launched in India through the Diners Club card,
and soon, within a couple of months both Visa and Master card entered into the Indian
market.
HISTORY
 HISTORY OF CREDIT CARDS
Since the beginning of history man has been involved with trade and commerce. As
this area has expanded and become more important, different medium of exchange
has been developed. Barter gave way to the advance of money, and money in turn has
faced the advance of checks. Now both are feeling the advance of credit card. In this
age of rapid technological advances it is only natural that man should seek out a new
and more efficient system of carrying on trade and commerce. This system seems to
be credit card.

Again, credit cards are not new. They, or some equivalent, have existed since the
early part of this century. Sometime before1920 some large department stores began
to issue "credit coins". These coins were a small piece of metal which displayed the
name of the merchant and the series of merchant identifying the customer’s account.
These coins were issued to good customers and allowed them to purchase
merchandise on credit in the store.

In 1950, the Diners club introduced the first independent credit card plan. This plan
involved a agreement between the club and the merchants. The members agreed to
pay the club to obtain the card and then agreed to pay each monthly billing as it came
in . The merchant agreed to honor the card and then forward his credit voucher to
Diners club for payment once a month. The member there by were able to get service
from many type of establishments by carrying only one card and were able to pay for
it at the end of the month. The merchant on the other hand, were relieved of having to
have his own plan and was also likely to increase the volume of his business since
card holding members would find it more convenient to deal with him then with a
merchant who wouldn't honor is card. The success of Diners club pan was such that
the American Express company entered the field in 1958, while Hilton Credit
Corporation initiated the "carte blanche" plan the following year.

In 1951, the first National bank of long island became the first bank to offer its
customers a credit card plan. This area was not very important, however, until the late
1950s when the bank of America and the Chase Manhattan bank issued there cards. In
1966, the Midwest bank card system was started.
sBy at least the beginnings of the 1970s the personal credit card had become a fixture
in the nation’s economy. Today more than 60 million credit card accounts exist in the
United States, and seven out of ten households possess at least one credit card. By
19186 out standings balance on credit card account total more than $80 billion
FUNCTIONS
 CREDIT CARD AND ITS FUNCTIONS.

For starter, a credit card is as good as bank behind it. A form of 'near money' these
cards are issued by commercial bank to people whose creditworthiness has been
ascertained. Instead of carrying unmanageable weds of cash, the card holder enjoy the
flexibility and safety of purchasing anything from groceries, cosmetics, petrol to high
value items like refrigerators, television, and washing machines by using his credit
card. Banks ask for TDS certificate or income tax returns document before enrolling a
member.

Credit Card provides the card holder with authorized line of credit of some specified
amount. Such cards may be used for following purposes:-

1.1.1 Purchase of air, rail and road tickets for traveling

1.1.2 Settlement of hotel bills.

1.1.3 Cash withdrawals.

1.1.4 Settlement of club bills.

1.1.5 Payment of purchase bills.

1.1.6 Payment of insurance premium.

1.1.7 Refilling the fuels in vehicles.

1.1.8 Payment of phone, water and electricity bills.

1.1.9 Payment of school/ education expenses.

 WHAT ARE CREDIT CARDS???

A Credit Card is referred to as 'plastic money'. Carrying a lot of cash on you can be
cumbersome, risky and sometimes, you run short of it, just when you most need it.
(Remember the SALE at your favorite ready-mades store?). A Credit card is the smart
solution to these problems. It is a convenient and safe alternative for cash.

Besides, it says things about you. Most people associate a credit card with a prestige,
which it most certainly bestows on you, but more importantly, it says that you have
taken the onus of being responsible - to be extended credit! So, when you get yourself
a card, remember that, because your bank does!
 SALIENT FEATURES OF CREDIT CARDS

ANNUAL FEE:

All credit card issuers charge an annual fee which is payable at the start of the year.
The start of the year, of course, is your membership year, and not the calendar year.
So, if you got yourself a card in March, you can expect to be billed the annual fee
every March until you cancel your card. As a privilege, this fee is sometimes waived
the first time. When the time comes for renewal of your card, you can even use the
reward points you have accumulated from using the credit card over the year to settle
your annual fee.

FORWARDING BALANCE (OR REVOLVING):

The most attractive feature of a credit card is that you need not pay off your dues in
whole. You can opt to pay 5% of the total amount on or before the due date, every
month, the rest is carried forward. But there's a price to pay for this extended credit -
interest! Normally, interest varies between 2.5% and 3% per month.

APR OR ANNUAL PERCENTAGE RATE:

The interest rate that reflects the yearly cost of the interest the outstanding on your
card is called the annual percentage rate. This rate is charged to the card holder on the
amounts carried forward beyond the due date for the payment of balances. Most card
issuers will tell you their monthly rate of interest. It might sound low at 3%, but when
you look at the interest rate over the year, it turns out to be as high as 43%.

CASH ADVANCE:

An important feature - lets you withdraw cash from designated ATMs using your
credit card. Use discretion when withdrawing cash on your credit card because the
charges for this facility are high, around 2.5% to 3% per transaction.
 ADVANTAGES OF HAVING A CREDIT CARD

1. If you pay by credit card there is implicit guarantee of satisfaction because as a

customer one can stop payment.

2. If a airline ticket is booked on a credit card and especially if you are going
overseas, the travel insurance is covered, that could otherwise be a lot of money.

3. Free airfare mileage based on point system that can take you or your family to a
destination of your choice if you can accumulate points. This is quite easy as the
shopping can be done on credit card and the points are accumulated that can be
encased for gifts or travel.

4. The best part is that you can get statement of all expenses and you can keep a track
of your expenses at a glance.

5. It helps to establish a credit history and can help in getting loan if needed.

6. There are a number of innovative credit cards that help benefit the customer. There
are cards that help accumulating points towards reducing the cost of your new car.

7. On internet it is the preferred option and you can also participate in on line auctions
if you have good credit rating.

8. You can get cash advance anywhere at so many cash outlets.

9. Some cards have your picture on it that is as good as an identification paper.

 DISADVANTAGES OF CREDIT
CARDS

1. There is a temptation to acquire more and more cards. Some have more than their
share of cards. They can lose track of payments and be in difficulty.

2. Some credit cards have conditions that may put you in difficulty if you have not
read the fine print.

3. There is a danger of someone can get hold of your credit card number and misuse
it.

4. There are a number of cases of double dipping done at your expense when paying
at an outlet by credit card.

5. Static’s are available that the domestic violence increases after the festive season in
the credit card user societies when the credit card bills arrive.

6. Using credit card exposes one to the possibility of some companies profiling and
lobbying you based on your spending pattern. Some governments also take interest in
the spending patterns of individuals and credit card statements make their job easier.

There are always dangers when money matters are involved but one has to live
with the necessary evil. The happy are those credit card users that pay up and take
advantage of the free credit days that the credit card companies provide.
 SOME TERMINOLOGY USED IN CONCERN
WITH CREDIT CARDS

Before we go any further, why not become familiar with the various terms and
jargons used by the credit card industry.

Credit Card – A credit card is a financial instrument, which can be used more than
once to borrow money or buy products and services on credit. Banks, retail stores and
other businesses generally issue these.

credit limit – The maximum amount of charges a cardholder may apply to the
account.

Annual fee – A bank charge for use of a credit card levied each year, which ranges
depending upon the type of card one possesses. Banks usually take an initial fixed
amount in the first year and then a lower amount as yearly renewal fees.

Revolving Line Of Credit - An agreement to lend a specific amount to a borrower

and to allow that amount to be borrowed again once it has been repaid. Most credit
cards offer revolving credit.

Personal Identification Number (PIN) - As a security measure, some cards requires

a number to be punched into a keypad before a transaction can be completed. The
number can usually be changed by the cardholder.

Teaser Rate - Often called the introductory rate, it is the below-market interest
rate offered to entice customers to switch credit cards.

Joint Credit - Issued to a couple based on both of their assets, incomes and credit
reports. It generally results in a higher credit limit, but makes both parties responsible
for repaying the debt.
TYPES OF CARD
 TYPES OF CARDS

MasterCard – MasterCard is a product of MasterCard International and along with

VISA are distributed by financial institutions around the world. Cardholders borrow
money against a line of credit and pay it back with interest if the balance is carried
over from month to month. Its products are issued by 23,000 financial institutions in
220 countries and territories. In 1998, it had almost 700 million cards in circulation,
whose users spent $650 billion in more than 16.2 million locations.

VISA Card – VISA cards is a product of VISA USA and along with MasterCard is
distributed by financial institutions around the world. A VISA cardholder borrows
money against a credit line and repays the money with interest if the balance is carried
over from month to month in a revolving line of credit. Nearly 600 million cards carry
one of the VISA brands and more than 14 million locations accept VISA cards.

Affinity Cards - A card offered by two organizations, one a lending institution, the
other a non-financial group. Schools, non-profit groups, pro wrestlers, popular singers
and airlines are among those featured on affinity cards. Usually, use of the card
entitles holders to special discounts or deals from the non-financial group.

Standard Card – It is the most basic card (sans all frills) offered by issuers.

Classic Card – Brand name for the standard card issued by VISA.

Gold Card/ Executive Card – A credit card that offers a higher line of credit than a
standard card. Income eligibility is also higher. In addition, issuers provide extra
perks or incentives to cardholders.

Platinum Card – A credit card with a higher limit and additional perks than a gold
card.

Titanium Card – A card with an even higher limit than a platinum card.
Secured Card – A credit card that a cardholder secures with a savings deposit to
ensure payment of the outstanding balance if the cardholder defaults on payments. It
is used by people new to credit, or people trying to rebuild their poor credit ratings.

Smart Card – Smart cards, sometimes called chip cards, contain a computer chip
embedded in the plastic. Where a typical credit card's magnetic stripe can hold only a
few dozen characters, smart cards are now available with 16K of memory. When read
by a special terminal, the cards can perform a number of functions or access data
stored in the chip. These cards can be used as cash cards or as credit cards with a
preset credit limit, or used as ID cards with stored-in passwords.

Charge Card – Falls between a debit and credit card. Works like the latter and you
don't have to be an accountholder. Just pay up in full when the bill arrives with the
mail. No outstanding are allowed, in other words, no revolving credit facility either.
American Express and Diners are providers.

Rebate Card – This is a card that allows the customer to accumulate cash,
merchandise or services based on card usage.

Co-Branded Card – This is a marriage of convenience between two service

providers who want a trade-off with the other's strengths. Specific facilities are made
to members through these tie-ups. So, Times Bank and Citibank have a co-branded
card that allows concessional rates for add-on cards or telephone banking. Stan chart
and Hindustan Lever Limited have a co-branded card to sell Aviance beauty products.
SBI-GE Capital has a co-branded card for retail loans.

Cash Card – Cash cards, similar to pre-paid phone cards, contain a set amount of
value, which can be read by a special cash card reader. Participating retailers will use
the reader to debit the card in increments until the value is gone. The cards are like
cash -- they have no built-in security, so if lost or stolen, they can be used by anyone.
Travel Card – These work mostly as debit cards for the limited purpose of travel.
Citibank Dollar Card, American Express, Bobcard Global and Hongbank Thomas
Cook International Card are among the players in this section.

Debit Card – It is the accountholder's mobile ATM. Open an account with a bank
that offers a debit card, and payments for purchases are deducted from your bank
account. The retailer swipes the card over an electronic terminal at his outlet, you
enter the personal identification number on a PIN pad and the money is immediately
debited at the bank. Citibank and a few domestic banks like Times Bank offer this.
 THE NECESSITY OF CREDIT CARDS

If it is for the convenience of not carrying cash then a debit card can suffice. And, if it
is for the free credit that the companies claim they give, then last week we had
highlighted the high cost of using such credit where the customer ends up paying
more than 5 per cent interest per month depending on the amount of credit due on the
card.
For those who want to use the credit facility at a reasonable cost then we suggest that
they use facilities like overdraft against salary accounts or loan against fixed deposits
or shares. Rolling credit on the card is not feasible as the interest paid on credit cards
is phenomenally higher than what is charged on overdraft facilities.
Going a step further, in case you don't have the cash to pay off your credit card bill in
one month then it makes more sense to take an overdraft for that amount to repay the
bill because the interest on the overdraft works out far cheaper than what the card
company will levy on you if the payment is not made in time.
Almost all banks offer overdraft facilities at reasonable rates to customers who have
salary accounts with the said bank, as well as to the general public. Salary account
holders can avail of the overdraft without any collateral, which is called a clean
overdraft. For the general public, banks provide overdraft facilities against collateral
like NSCs, shares, fixed deposits, etc. For overdraft against salary accounts the rates
being quoted in the market are very competitive and are as low as 1% per month on a
reducing balance. Similarly, one can avail an overdraft facility against NSCs at 13%
p.a. and up to 65% of the face value or against fixed deposits at 16% p.a. up to 90% of
the value.
Then why should a customer pay 5.64% interest per month on an amount of Rs
11,000 to a credit card company when he can pay 1% interest per month on the
overdraft against the salary account or 16% per annum for overdraft against fixed
deposits?
If the customer feels that he may require credit in the future or wants to have the
satisfaction of having a credit facility at his disposal, then it is wise to get entitled to
the overdraft service by paying a one-time processing fee, which could be 1% of the
amount sanctioned. So, in case the customer gets an Rs 1,50,000 overdraft facility
sanctioned, he ends up paying only Rs 1500 per annum even if he doesn't use the
facility. Anyways, the credit card user will be paying this much amount as annual fee.
It is time for customers to realize the amount of extra money they may end up shelling
out to credit card companies in the form of finance charges and late fees when cheaper
sources of credit are available to them.
 METHODOLOGY IN CREDIT CARDS BUSINESS

Following methodology is used for credit card business:

 Credit Card bank advertises or approaches the prospective cardholder.

 Prospective card-holders apply for credit card membership by filling the

prescribed form which normally contains personal and financial particulars.

 Issuer of credit card evaluates the form and issues the credit card and fixes the
money limit for use of such credit card.

 Cardholder puts the signature on the prescribed place on the card before putting it
to use and starts using it.

 Member establishment prepares a charge slip (for cost to be recovered) gets it

signed by the card holder, tallies the signature, and return, on the copy of charge
slip of charge slip to the credit card holder. The second copy is sent to the issuer
for recovery of money and he retains third copy.

 Card issuer receives the bill and charge slip and makes payment to the member
establishment.

 Card issuer prepares an account statement and sends it to card holder for payment
to bank directly or through its authorized collection centers.
 RISKS IN THE BUSINESS

TO THE BANKS:

Banks excited at the projected 40% growth rate1 in the plastic money industry are
apprehensive about the potential corresponding increase in fraud cases. Some banks
register up to 7% fraudulent case in a year.

1. Default in payments - Currently banks have huge amounts of funds blocked with
willful defaulters. Lack of reliable data / infrastructure to check the credit worthiness
of individuals has led to the situation where people without sufficient resources have
become eligible for availing credit facilities. The marketers in India find it more cost
effective to just right-off the unpaid amount in their balance sheets, after trying to
recover it for six months, than to pursue it throughout the litigation labyrinths.

2. Multiple Imprints or Record of Charge (ROC) Pumping - It refers to the

expedient system by which merchants make multiple charge slips instead of the
relevant number when a cardholder gives in his plastic card.

3. Lost/Stolen Cards - These account for 60% of fraud in India. In case of loss all
multinational banks and some Indian banks limit the liability of the cardholder up to
Rs. 0 (for Gold card) and Rs. 1000 (for Classic card) if card is used after lost / stolen
card has been reported. These banks transfer their risks to insurance companies and
generally replace the lost card within three days. Some banks carry the risk
themselves and investigate the loss before determining the liability of cardholders.
These banks take about a month to replace the missing card.

To combat this, banks have started the Photocard Option which provides the
photograph of the cardholder on the card. They are also providing information about
the lost/stolen cards through the Hot Card Bulletin which is continuously upgraded
and sent to merchant establishments to provide them with the current status. But the
success of this measure is debatable.

A majority of the credit card losses are skewed towards the issuer as the risk on the
cards is carried by the issuer. Visa and MasterCard have a formal set of guidelines

1
known as charge back rules. Once a card holder has informed the bank of the loss of
the card, he is subject only to a minimum liability, which most banks fix at Rs.1000
regardless of how much the card is used fraudulently. Before the hot card date, the
fraud loss is the issuer’s responsibility. However, if a merchant accepts a hot listed
card, the issuer is entitled to ‘charge back’ the transaction to the merchants, through
the acquirer. If a merchant is found guilty of willful fraud, his bank is liable.

Visa offers its members a national merchant alert service which acquiring banks can
refer to in order to check on the credentials of the merchants whose business they
woo. It also has its risk identification service which monitors every single transaction
through Visa Net. This enormous database helps zero in on cardholders and locations
prone to fraudulent activity.

Master Cards security and risk management team organizes regular training
programs for banks and member establishments on fraud prevention.

Delivering new cards to members by courier has drastically cut fraud arising from
non-receipt of cards.

TO CARD HOLDERS:

The main problem with credit card is that it is easy to get in over the head. A majority
of card users utilize their maximum limit. Credit cards charge higher interest than
some of the other forms of borrowing. While a credit card offers convenience, that
convenience can be expensive if the card holder is slow in paying off his outstanding
dues. In terms of the annual percentage rate that an individual is charged towards
paying off his debt, the figure ranges from anywhere between 22% to 34% p.a.
depending upon the roll over period (30 / 45 days). Tocombatthese problems potential
card owners decide upon the mode of payment before selecting a card. In India, for
the majority of people who believe in paying off their balances in full, the
prerequisites would include a card with a low or no annual fee and long grace period.
 PARTIES INVOLVED IN CREDIT
CARD BUSINESS.
There are five parties involved in credit card business:
A. THE CARD ISSUER.
When one applies and is issued with the card.

B. THE CARD HOLDER.

When the customers apply to the bank for a credit card, the bank checks the credit
worthiness of the customers and once the application is approved, the bank issues
credit card with a specified credit limit. The customers then become a card holder
and can use the credit card to purchase goods or services from a merchant. Each
month the cardholder receives a bill from the card issuer for the amount the
cardholder incurred with the credit card, as well as finance charges if any.

C. THE MERCHANT.
When the cardholder uses the credit card to pay for goods and services at retail
shops, restaurants, hotels, airlines or any establishments that accept the credit
card, the establishment is a merchant. A merchant should be of good reputation
and be financially responsible.

D. THE ACQUIRER.
In order for an establishment to be a merchant, it must be accepted by a financial
institution who is a member of Master card/ or visa. There financial institutions
are the acquirer. When a merchant accepts visa or MasterCard as a mean of
payment, he is bound by a written agreement with the acquirer.

E. THE ASSOCIATES.
Master card international and visa international are known as Associates. They are
owned or controlled by a group of member institutions. For financial institutions
to be a member of Master card or Visa, they have to meet the criteria set by the
associates.
OVERVIEW
 OVERVIEW OF VARIOUS CARD ISSUERS

ISSUER BANK CLASSIFICATION OF CARDS

ANZ GRINDLAYS SILVER - MASTERCARD

GOLD- MASTERCARD
VISA INTERNATIONAL

AMERICAN EXPRESS AMERICAN EXPRESS CARD CHARGE

CARD
CORPORATE CARD

CITI BANK CLASSIC - VISA / MASTER CARD

PREFERRED - VISA /
MASTERCARD
DINERS CLUB CARD CHARGE
CARD
US $ VISA CARD

STANDARD CHARTERED BANK CLASSIC - VISA / MASTER CARD

EXECUTIVE - VISA / MASTER
CARD
GOLD - VISA / MASTER CARD

HONGKONG & SHANGHAI CLASSIC VISA / MASTER CARD

BANK
GOLD VISA / MASTER CARD
US $ MASTER CARD

BANK OF BARODA BOB CARD CHARGE

CARD
BOB SILVER
BOB EXCLUSIVE
BHARAT BOB CARD PREMIUM
BOB CARD GLOBAL

CENTRAL BANK OF INDIA CENTRAL MASTER CARD

BANK OF INDIA INDIA MASTER CARD

TAJ CARD CHARGE
CARD
CANARA BANK CANCARD VISA / MASTER CHARGE
CARD
CANCARD PROPRIETOR CHARGE
CARD

VIJAYA BANK VIJAYA GOLD CHARGE

CARD
VIJAYA CLASSIC CHARGE
CARD

ANDHRA BANK ANDHRA GOLD CHARGE

CARD
ANDHRA CLASSIC CHARGE
CARD
DIFFERENT
BANK’S
CARD
DIFFERENT TYPES OF CREDIT CARDS

As the undisputed leader in the Cards business, Citibank has more than 49 million
card member accounts worldwide. Growth has continued through the acquisition of
the AT&T Universal Card Services business, introduction of the Driver's Edge and
Sony Citibank cards, and expansion of the Citibank-American Airlines partnership.
The merger adds more than one million credit card accounts, principally with
members of professional associations and other affinity groups, including Salomon
Smith Barney clients.
The Citibank Advantage card, now in 16 countries, is the most successful co-branded
card in the industry.
Citibank has 17 million cards, including affiliates, in force in Latin America, Asia,
Central and Eastern Europe, and the Middle East. In most of these markets we have
double-digit share: 43 percent in Puerto Rico, 11 percent in Argentina and Chile, and
more than 20 percent in Hong Kong and Taiwan. In Poland, where Citibank launched
a card in late 1997, we have 20,000 card holders today.
In the United States, Citibank is strongly committed to maintaining Cards as one of
the great success stories of the bank. Acquisition of the AT&T Universal Card
increased our market share of total U.S. card receivables from 11 percent to 15
percent.
 CITIBANK CREDIT CARDS

DINERS CLUB CREDIT CARD

Diners Club was the first card in the Indian market. Launched in 1960, just after 10
years it was launched in the market of United States. It was the first charge card in the
world. The early eighties saw the launch of credit cards in India by some Indian
banks, viz. Central bank, Andhra bank ET. , with Visa and Master Card affiliations.
The size of the credit card market was around 300,000 in 1990. Credit Card was a
status symbol for upscale individuals who had high travel and entertainment needs.
More than 40,000 -business establishments in the country now accept credit cards.
The total credit they provided in 1994- 95 was Rs. 1600 crore.

FEATURES OF THE CARD

Your lifestyle demands complete financial flexibility and convenience. Unlike other
Card, the Diners Club Card does not restrict you with a pre-set spending limit. At
Diners Club, you’re spending and payment patters and personal resources determine
how much you can charge. So, over time, you set your own limit.

Club Assurance
As a Diners Club Member, you are insured against loss of life in an air accident for
Rs.30 laky, or Rs.2 laky in any other accident. This insurance is available to you,
wherever you are in the world.

Club Protection
Household Insurance this cover protects household articles (excluding jeweler and
valuables) for a value of up to Rs. 100, and 000/- per annum. This insurance is on first
loss basis that insures articles for the entire sum insured.

Baggage Insurance
Baggage Insurance protects your baggage against theft or loss for up to Rs. 40,000/-
in India and up to Rs. 60,000/- while traveling abroad.
Delayed Baggage
If your baggage is not delivered within 12 hours of arrival of a flight, you will be
reimbursed for purchase of essential clothing of up to Rs.5,000/- in India and Rs.
10,000/- when abroad.

Delayed Flight
If you miss an onward flight due to late arrival of an incoming flight, and if there is no
alternative flight within 6 hours (of actual arrival time) or the airline do not provide
accommodation, you will be entitled to Rs.15,000 reimbursement for hotel
accommodation.

Loss of Passport/Ticket
If you lose your passport in a foreign country, you can claim up to Rs.25,000/-
towards the cost of obtaining a fresh Passport. If you lose your air tickets you will be
reimbursed for it up to Rs.5,000/-

Purchase Protection
Under International Purchase Protection, purchases on your card are insured against
loss or damage due to fire or theft, for a period of 180 days, from the time of purchase
up to a value of Rs. 50,000/-
Club Rewards - with Fast Track option
With Diners Club Card, you also get the most powerful rewards program in the
country. For every Rs.100 spent on the Diners Club Card, you earn one Club Rewards
Point. You can redeem the Rewards Points you have earned for fabulous travel
packages and delightful gifts. Moreover, these Points are 'evergreen', which means
you can encash them whenever you want.
Besides Diners Club has tied up with Flying Returns, India's No.1 frequent flyer
program from Indian Airlines and Air India. Which means you can now redeem your
Points for free miles!
Finally, your Club Rewards Points can also be converted to Oberoi Top Points and
Welcome Award Stars - the rewards programs of the Oberoi Group and Welcome
group respectively.

Club Perks
Club Perks is a unique promotional offer exclusively for Diners Club Members. Club
Perks gives you special discounts at your favorite restaurants, hotels, car rentals and
retails across the country. It also gives you complimentary into some of the most
prestigious discotheques in the country. All you have to do is charge your bill to your
Diners Club Card every time you visit any of these places.

Club Lounges
Relax between flights.
You can now relax in plush airport lounges, designed exclusively for Diners Club
Members. There are more than 74 such lounges located at various international
airports. In India, you have complimentary access to airport lounges located at the
domestic departure areas in Mumbai, New Delhi, Chennai and Bangalore.

Club Cash
The Diners Club Card gives you the convenience of drawing cash in an emergency,
24 hours a day, 7 days a week! You can access up to Rs.20,000 through Club Cash
through our extensive network of Automated Teller Machines.
Club Privileges-Phone Home, Global One Calling Card
Finally, Diners Club offers you an exclusive range of international privileges.
The Global One Calling Card, the international calling card which enables you to call
from 60 countries to over 300 countries whenever you travel overseas, and pay later
in Indian Rupees through your Diners Club Card. This facility is available absolutely
free.

Citibank international gold card

High Credit Limit

For someone as powerful as you, only the most powerful Card in the world will do -
the Citibank International Gold Card. A true reflection of your power, this Card gives
you the ultimate financial freedom in India and everywhere in the world. The best
part is this Card is yours at no additional cost, and comes with the advantage of
spending in International currencies and paying back in Indian Rupees!

Comprehensive Insurance Benefits *

Personal Accident Insurance up to Rs.20 lakh

Whether you are travelling in India or overseas, your Card comes with FREE Personal
Accident Insurance (uptoRs.20lakh)

Free House hold Insurance

This cover protects household articles (excluding jewelry and valuables) for a value of
up to Rs.75,000/- per year. This is valid for primary Card members only.

Free Baggage Insurance

This unique insurance protects your baggage against theft or loss for up to Rs.
40,000/- in India and up to Rs. 60,000/- while travelling abroad.
Free Delayed Flight Insurance
If you miss an onward flight due to late arrival of an incoming flight, and if there is no

alternative flight within 6 hours (of actual arrival time) or the Airlines does not
provide accommodation, you will be entitled to Rs.15,000/- as reimbursement for
hotel accommodation.

Free Passport Loss Insurance

If you lose your passport in a foreign country, you can claim up to
Rs.25,000/- towards cost of obtaining a fresh passport. On loss of an air
ticket, you will be reimbursed for up toRs.5000/-.

Free Global Purchase Protection

Under International Purchase Protection, purchases on the Card are insured against
loss or damage due to fire or theft for a period of 180 days from the time of purchase
for a value of up to Rs. 40,000/-.

Unique reward program

Every time you use your Card you earn Citibank Rewards Points that can be
exchanged for many exclusive privileges like Free Air Miles, free Hotel Nights,
leather accessories and much more. You can exchange your Citibank Rewards
Points for miles on airline frequent flyer programs and fly free to your dream
destination and stay free at hotel properties participating in our Rewards Program.
You can also choose to pay your Card Renewal Fee (in part or full) using your
Rewards Points as well. What's more, your Citibank Rewards Points are evergreen
and never lapse.

Revolving Credit Facility

With Citibank's powerful Revolving Credit Facility you can choose to buy high-
value items now and pay later in parts. And pay as little as 5% of your total
outstanding every month.
Free Global One Calling Card

The next time you make an international call from overseas, you do not need to use
precious foreign exchange or hunt for loose change. The Global One Calling Card
makes international calling absolutely easy. The Global one Calling Card charges
will be conveniently billed later to your Citibank International Gold Card and
itemized call details will appear on your monthly statement.

Special Discounts on Travel

India's leading travel management company Travel House (a member of the ITC
Group) brings you 3.5% off on basic domestic air fares and 7% off on basic
International air fares when you buy tickets on your Citibank International Gold
Card. In fact your tickets will be delivered to you at no extra cost.

Free Phone Home facility

In case of an emergency or for any urgent clarification on your Card, while you are
overseas, you can use FREE Phone Home Facility.

24- Hour ATMs

While travelling overseas you can access cash (up to 60%**** of your Credit Limit)
at over 4,50,000 Visa/MasterCard ATMs across the globe. There are 24-Hour ATMs
in Ahmedabad, Bangalore, Calcutta, Chennai, Delhi, Hyderabad, Mumbai and
Pune too. You can also draw cash from any Citibank branch.

24- Hour CitiPhone

CitiPhone, the revolutionary phone banking service ensures that Citibank is just a
phone call away from you. From the minute you dial in, the world-class Interactive
Voice Response (IVR) Service will guide you right through. Call our courteous
CitiPhone Officers standing by to assist you. 24 hours a day, and 7 days a week.
Worldwide Assistance

The Visa/MasterCard Global Assistance Services can be used for reporting lost or
stolen Cards, requesting for an emergency Card replacement or for emergency Cash
Advances. A wide range of miscellaneous information is also available for your
benefit.

Additional Card

You can share the power of your Citibank International Gold Card with your family.
Your Citibank International Gold Card Membership entitles you to Additional Cards
for two members of your family, over 18 years of age, at a special price of Rs.1000/-
p.a. per Card.

Citibank silver card

Exciting gifts with Citibank Rewards

Every time you use your Card, you earn valuable Citibank Rewards Points that can
be exchanged for fabulous gifts. Choose from a wide range of gifts - cosmetics to
cameras, CDs to wallets. You can also exchange your Citibank Rewards Points to pay
your Card Renewal Fee (in part or full). What's more your Citibank Rewards Points
are evergreen and never lapse.
 ICICI BANK CREDIT CARDS

BANDHAN
A major first for India, the Pre-set Limits facility allows you to empower your family
with the flexibility and convenience of a credit card with the option of controlling the
spend levels.
You can pre-set their monthly spending limits and any transactions over this specified
Spend Limit will be declined.
That's not all. You can change this limit whenever you need to increase or decrease
the limit. Simply call the ICICI 24-hour Customer Call Center and place your request
with the Call Center Executive. This monthly spending limit can be reset every billing
cycle.
Now you can freely present* your wife, your sister, your brother , your parents or
children above 18 years of age, with "Bandhan", the unique Add-on Card from ICICI
Bank.

BALANCE TRANSFER FACILITY

If you own credit cards issued by other banks and wish to apply for a Sterling
Silver/Solid Gold ICICI Bank Credit Card, becoming a part of the ICICI family is not
just easy but also very attractive.
You can transfer the outstanding on your other card(s) on to the ICICI Bank Credit
Card and this transferred outstanding will attract an interest rate of just 1.75% for the
Sterling Silver Card and 1.50% in case of a Solid Gold Card. And what’s more, this
beneficial rate of interest is applicable for a full 6 months of your becoming a part of
the ICICI Bank family.
This special interest rate will not be applicable for new purchases. You can transfer
any amount from a minimum of Rs.2, 000 to a maximum 75% of the available credit
limit on your ICICI Bank Credit Card.
INSURANCE BENEFITS ON AN ICICI BANK CREDIT CARD
Life is unpredictable and we at ICICI Bank understand your concern for your family.
Insurance is by far the best way to safeguard the interests of your family. And
therefore in addition to any insurance cover you already have, ICICI Bank offers you
the most comprehensive insurance related benefits.
Of course, we offer you accident insurance, but in addition we offer you medical
insurance, credit shield, purchase protection, baggage insurance and household
insurance.

EARN WHILE YOU SPEND- ICICI Plus - REWARDS PROGRAM

A special bonus plan that allows you to earn points every time you use your Card.
Every Rs. 100 that you spend earns you a reward point. In effect a spend of Rs 2500
on your card will amount to 25 reward points which is equivalent to a value of Rs. 25
given back to you.

First time usage Bonus

As a very special offer, for the first time that you use your ICICI Bank Credit Card,
we will credit your rewards account with 25 bonus points.

Accelerator points
When you spends in any billing cycle exceed Rs.5000, you earn an additional 10%
points over and above the normal reward points.

Redemption
To begin redeeming your reward points, you need to have a minimum of 150 points.
The redemption of reward points will be done annually, first against your renewal
fees. Thus, for example, an annual spend of Rs. 30,000 on a True Blue Card ensures
that the renewal fee for the next year is less by Rs 300. Unused points will be credited
to your card account in blocks of 25 points. Reward points are awarded for all types
of transactions, except fee, (joining, annual, renewal) balance transfers and service
charge transactions.
SELF SET LIMIT
The ICICI Bank Card ensures that you are in charge at all times. This is the only card
that allows you to pre-define your own credit limits
You can actually request for a limit lower than what you are eligible for and your
Card gives you the choice of deciding the limit that you wish to enjoy.
Simply call our Call Center Executive and make your request. Your credit limit can be
changed on-line and will come in to force from the next billing cycle.
This incredibly powerful feature has been developed keeping your needs in mind, and
it helps you manage your finances prudently, without compromising on your needs.

WIDE ACCEPTANCE
Your ICICI Bank Credit Card is affiliated to VISA and is welcomed at all Visa
Merchant Establishments (Look for the VISA logo 1,10,000 establishments across
India and Nepal). The Sterling Silver and Solid Gold Card are accepted globally by
over 18 million VISA card - accepting establishments worldwide.
You now have the flexibility of using your Card to pay for everyday purchases on one
hand and large value purchases on the other.

24- HOUR CUSTOMER CARE

We understand your needs and appreciate that you may need assistance around the
clock. For your convenience, we have set-up the ICICI 24-hour Customer Call Center
This is equipped with a state-of-the-art system that ensures that your queries get
handled efficiently and promptly

CASH ADVANCE FACILITY

With An ICICI Bank Card in your wallet, you will never be strapped for cash. You
can withdraw cash on your Card, 24-hours a day, from any Visa participating member
bank ATM.
During banking hours you can also withdraw cash, over-the-counter, from any ICICI
Bank branch across the country.
For your protection we have limited the maximum withdrawal to Rs.15,000 in a
single day. Transaction charges as applicable will be charged.
DIAL-A-DRAFT
It is now possible to order a draft from the convenience of your home. Simply call the
ICICI 24-hour Customer Call Center and ask for a draft, payable anywhere in India
and favoring any company or individual (you can order a draft up to the available
limit cash limit on your account). The draft will be delivered to your mailing address.
For each draft request, a transaction fee of 1.0% of the amount withdrawn, subject to a
minimum of Rs.50, will be levied. However, for the Gold Credit Card-Members, no
transaction fee will be levied. In addition to the transaction fee, a service charge will
also be levied from the date of transaction to the date of repayment. The amount of the
draft will be billed in your monthly credit Card statement. And with the revolving
credit facility you can choose to pay as little as 5% of the billing amount

ICICI BANK CREDIT CARD

TRUE BLUE
-India's first value for money card.
-Web based access to get details about your statements, payment status and requests.
-24 Hour Customer Call Center and access to all VISA approved ATMs.
-Lowest annual fees of Rs.300.
-Dial-A-Draft at 1% fee. Accepted across 1,10,000 merchant establishments in India
and Nepal.
-Accident Insurance of up to Rs 3 Lakhs. Purchase Protection of Rs. 10,000 Credit
Shield of Rs. 10,000.
-Earn while you spend - ICICI Plus - Reward Program.
-Airlines and Railway Bookings.
-Accepted at selected petrol stations.

STERLING SILVER CARD

-Free add-on Card Web based access to get details about your statements, payment
status and requests.
-24 Hour Customer Call Center and access to all VISA approved ATMs.
-Comprehensive Insurance for both Primary and add-on cards Dial-A-Draft at 1% fee.
-Balance Transfer at 1.75% Comprehensive Travel Benefits Purchase protection of
Rs. 20,000 ---Credit Shield of Rs. 25,000 Earn while you spend - ICICI Plus - Reward
Program.
-Bandhan, Add on Card with self set limits.
-India's first value for money card. Accepted across 1,10,000 merchant establishments
in India and Nepal. Accident Insurance of up to Rs 6 Lakhs.
-Airlines and Railway Bookings accepted at selected petrol stations.

SOLID GOLD CARD

-International validity at over 18 million merchant establishments globally.

-Lowest annual fee of Rs. 1200 Web based access to get details about your statements,
payment status and requests.
-24 Hour Customer Call Center and access to all VISA approved ATMs.
-Dial-A-Draft free. Balance Transfer facility at 1.5% Zero lost card liability.
-Complimentary Global One Calling Card. Access to Global Customer Assistance
Services.
-Purchase Protection of Rs. 40,000.
-Credit Shield of Rs.50,000. Comprehensive Travel benefits.
-Bandhan, Add on Card with self set limits. Comprehensive Insurance for both
Primary and add-on cards.
-Airlines and Railway Bookings accepted at selected petrol stations household and
baggage -Insurance. Earn while you spend - ICICI Plus - Reward Program.
-Personal accident, household and baggage insurance.

Emergency Assistance Services

The multilingual VISA Emergency Assistance Services program offers worldwide
emergency referral assistance to VISA Gold Cardholders. These include a wide range
of legal, medical and other services. VISA Emergency Assistance Services are
available to you placing a call to the Emergency assistance Centers in Singapore: 1-
800-345-1345, UK: 0800-89-1725, USA: 1-800-336-8472 and Australia: 1-800-
805341.
Emergency Message Service
You can call toll free or collect on the 24-hour telephone service and leave messages
that will be forwarded in the shortest possible time.

Medical Assistance
In medical emergencies, you get assistance and referral services, emergency
transportation assistance to a hospital, repatriation to your country of residence and
assistance in case you need a prescription filled or a lost prescription replaced.

Legal Assistance
For legal emergencies, VISA will refer you to local legal advisors.

Travel Assistance
The Visa Emergency assistance Centre can arrange for booking emergency tickets and
also assist you with lost ticket reimbursement procedures. In case your luggage is lost
while travelling, the VISA Emergency Assistance Centre can arrange for the shipment
of replacement items and obtain any applicable insurance.

Translation Service
You get foreign language assistance services in all major foreign languages over the
telephone, and assistance in locating local interpreters.

Payment for Visa Emergency Services

All expenses for services rendered under the VISA Emergency Assistance
programmes if applicable will have to be borne by the Cardholder.
All services provided are subject to Terms & Conditions of the VISA Emergency
Assistance Services program.
 HDFC CREDIT CARDS

INTERNATIONAL GOLD CARDS

Introducing the HDFC Bank International Gold Credit Card, customized to suit your
conveniences and make your lifestyle a truly cherishable golden experience.

Find out all the features that are offered by this card:

-Recognized the world over

- Cash Advance
- Revolving credit facility
- Interest Free Credit Period
- Comprehensive Insurance
- Travel Made Easy
- Global Travel Related Insurance
- International Business Travelers’ Club (IBTC) Membership
- Exclusive Airport Lounge Facilities
- Lost Card Liability
- 24-Hour Customer Call Center
- Rewards Program
- Financial Tracker
- Utility Bill Payments Made Easy
- Balance transfer option
- Privilege Pricing
- Cards for your entire family
- Global Emergency Assistance services from VISA

INTERNATIONAL SILVER CARDS

The HDFC Bank International Silver Credit Card offers you the best features a card
can provide along with the conveniences offered by a bank. Be it low interest balance
transfer facility or comprehensive insurance cover, each of its features will help you
manage your finances better and leave you free to live a better life.
Choose which of these features* you would benefit from the most...

- Balance Transfer at a lower interest rate

- Hassle-free travel
- Utility bill payments made easy
- Repaying loyalty with interest
- Wide acceptance
- Cash at your fingertips
- Add-on Cards
- Save while you spend (Reward Points)
- Privileged Pricing on Loans
- Repayments made easy
- No liability on lost card
- Protecting you through insurance

The HDFC Bank Health Plus Credit Card is a feature rich credit with unique features
like:

1. Cashless Mediclaim
The card offers free mediclaim cover for Rs.50,000/- plus a critical illness cover of
Rs.1.5 lakhs. The critical illness cover includes open-heart surgery & CABG, Cancer,
Kidney Failure and Vascular Stroke. With this cover you can avail cashless mediclaim
facility at any of the networked hospitals of the Third Party Administrator (TPA) in
any city.

2. Discounts at participating hospitals

With this card, the best of medical care would cost you less. Get fabulous discounts
on annual health check-ups, outpatient and inpatient investigations in the participating
hospitals in each city.

3. Preferred partners for a healthy life

HDFC Bank Health Plus Credit card offers unique discounts and offers from leading
health and fitness related brands.
4. Give your family the extra protection
a) Add-on Float Cover
You have the option of extending the Rs.50,000 mediclaim plus a critical illness cover
Rs.1.5 lakhs cover to the add-on cardholders, be it your spouse, children, brothers or
sisters .What’s more, the add-on cardholders can avail the discounts at participating
hospitals as well as with preferred partners.

b) Purchase additional mediclaim

Provide extra cover for your family which includes your spouse, children, parents,
brothers or sisters by purchasing additional mediclaim at fabulous discounts of more
than 50%. What’s more, you can get tax break under Section 80 D of the Income Tax
Act.

c) Life Insurance Cover

To overcome the uncertainties of life you need to plan ahead and create a circle of
protection for your family. With the HDFC Bank Health Plus Credit card you can get
your life insurance cover from Birla Sun Life Insurance at exclusive premium rates.

1. Save while you spend (Reward Points)

Use your credit card and earn reward points. For every Rs.100 spent using your credit
card earn 1 reward point. You can redeem the reward points for house-holder's
insurance which includes, fire insurance, burglary insurance and breakdown insurance
or for exciting gifts. What's more - you can save the reward points up to 18 months.

2. Protecting through insurance

The HDFC Bank Health Plus Credit Card offers you the most comprehensive
insurance package at no additional cost. In case of death in an accident if the
cardholder loses his life in an air accident, the nominated kin will receive a
compensation of Rs.10 lakhs. In the case of a rail or road accident the nominated kin
will receive a compensation of Rs.2 lakhs.

3. Balance Transfer at Lowest interest rates

Most cards charge interest at the rate of 2.95% per month. Transfer the same balance
to HDFC Bank's credit card and you will pay interest at the rate of only 1.65% per
month. For existing customers of HDFC Bank, we offer a special rate of 1.45% per
month for 6 months.

4. Utility Bill payments made easy

Pay your insurance premium, electricity / telephone / mobile bills using this service.

5. Hassle Free Travel**

Dreams of a quiet family vacation are often ruined by hassles of travel bookings.
Now with the HDFC Bank International Health Plus Credit Card, book your train and
air tickets from the comfort of your home or office.

a) Airline & train ticket bookings

Avail a 3.5% discount on domestic and 5.5% discount on international travel as also
free home delivery on all your bookings as a valued HDFC Bank card holder. Our tie-
up with SITA Travels for booking of train tickets.

Add-on Cards
Get up to 2 supplementary cards for your spouse, parents, siblings (own
brother/sister), son and/or daughter (over 18 years) and allow them to enjoy the many
benefits of a HDFC Bank International Health Plus Credit Card.

10. Privilege Pricing on Loans

As a HDFC Bank International Health Plus Credit Card holder you get loans from the
bank at special rates.

The rate discount offered is as follows:

Loan Discount Offered

Auto Loans 0.5%
Personal Loans 1%
Car Loans 1%
Used Car Loans 1%
 STANDARD CHARTERED CREDIT CARDS

THE NEW STANDARD CHARTERED VISA MINI

1. The Standard Chartered VISA Mini Cardholder may terminate the card service
if he/she does not accept any amendment to the Standard Chartered VISA
Mini Cardholder Agreement proposed / made by the Bank. The Standard
Chartered VISA Mini Card will be automatically terminated if
a. The Standard Chartered VISA Mini Cardholder terminates the card
service in respect of his Card or
b. The Principal Cardholder terminates the Credit Card account with the
Bank.
2. The Standard Chartered VISA Mini Cardholder shall strictly follow the
operating instructions issued by the bank from time to time regarding the use
of Terminals and the System. In particular, Standard Chartered VISA Mini
Cardholders should note the following :

 Standard Chartered VISA Mini Cards cannot be used at ATM facilities

and their Terminals which require the Card to be inserted rather than
swiped;
 Standard Chartered VISA Mini Cards cannot be used at merchants
requiring a manual imprint of a card to complete a transaction.

CARD FEE DETAILS

Primary Supplementary Multiple
Entrance fee NIL NIL NIL
Annual fee (Yr.
Rs.349 Rs.199 Rs.349
1)
Renewal fee
Rs.499 Rs.199 Rs.349
(Yr. 2 onwards)

CARD FEATURES:
• Balance Transfer Option

Transfer your outstanding balance from your other credit cards to the global Standard
Chartered credit card at only 1.75% p.m. instead of the 2.95% p.m. that you are
currently paying.

• Global Acceptance

The most widely accepted and respected credit card in over 19 million VISA and
MasterCard establishments worldwide over 1.1 lakh establishments in India and
Nepal.

• Revolver Facility
Flexible payment option using revolving credit allowing you to pay just 5%of the
outstanding amount every month.

• Cash Advance Facility

Up to 30% of the credit limit. Withdraw cash from 6 lakh MasterCard
ATMs worldwide and 580 ATMs across 46 cities in India.

• Teledraft
Facilities with doorstep delivery.

• Picture Card
Put a picture that is close to your heart and makes your card as unique as you want it
to be.

• Photo Card
Safest credit card

• Zero Lost Card Liability

Post reporting of the loss of the card to the Bank
• Credit Free Period - up to 52 days

• 24 hour Help lines at Mumbai, Chennai, Bangalore, New Delhi, Kolkata and
Hyderabad

• conveniently placed cheque collection boxes for repayment across centers

• Supplementary Card for family.

• Multiple Card to segregate your personal and business expenses

Eligibility:

• For individuals, Minimum age limit: 21 years, Maximum is 60 years (salaried) and
65 years (self-employed)

• Issued to Indian Residents only

Income Criteria

(Salaried) Gross Income (Per (Self-employed) Gross Income

Product
Annum) INR Rs. (Per Annum) INR Rs.

Gold 1,50,000 1,50,000

Executive 1,00,000 1,00,000

Classic 60,000 72,000

Sapnay 60,000 72,000

CARD FEES

The membership fees for the global card is

Gold Executive Classic Sapnay

Entrance Fee 1000 300 100 Nil

Annual Fee (Yr1) 2000 1200 700 400

Renewal Fee (From Yr

2000 1200 750 400
2)

Annual Fee for each

supplementary card (no 1000 500 350 250
entrance)

Annual Fee for each

Add-on card (no 1000 575 400 250
entrance)

*An additional fee of Rs. 100 will be charged for the picture card
 HOW TO CHOOSE A CREDIT CARD

With the credit card truly becoming an international citizen, issuers have begun
highlighting the value added features offered along with the basic product. While
some of them are offering attractive interest rates, others are luring customers by their
reward schemes. With a plethora of choices on offer it is not easy to come to a
decision on any particular card. However, a comparison on the basis of a few basic
parameters is will help us make an informed choice.

First, there's the credit limit. All banks have different limits set for customers
depending upon the type of card in their possession. Even within a particular type of
card, limits may vary depending upon the credit worthiness of the individual. This
depends, among other things, on the gross income of the individual and the period for
which he/she is using the card. However, some banks like Citibank and American
Express have cards which have no set credit limit. Amex, for e.g., has a charge card
which has no upper limit and allows one to spend as much as one likes (provided the
holder repays the amount at one go).

Second criteria could be the lost card liability. If one is travelling and has lost his/her
credit card then reporting the loss will not be much of a problem. HSBC, Citibank,
Stanchart and Amex can be reached from any corner of the world for information on
one's card as well as for reporting the loss. However, except for Amex, all others will
mail a replacement card to the holder's mailing address. Amex will replace the card
within 48 hours free of cost. Liability for a lost card is nil for Citibank, HSBC, Amex
(once the bank is informed about the loss) and the Stanchart photo card. However,
the non-photo card carries a liability of Rs1,000.

Nowadays, almost all cards come with various goodies attached. These include airline
ticket booking and insurance benefits on lost luggage and accidental deaths. HSBC,
for e.g., offers discounts of 3.5% on domestic air fares and 6.5% on international ones
if tickets are charged

to their cards. The latest in line of value added features are the rewards programs.
Here a card holder earns a certain number of points by spending a particular sum of
money. Stanchart, for e.g., uses a conversion of Rs125 (spent in India) or Rs80 (spent
abroad) for one point. HSBC, on the other hand, only allows points collected to be
squared against a discount on the annual fees. A minimum of 350 points is needed to
get a discount on the annual fee. Citibank awards one point on spending Rs100.The
table below gives an indication of the various value added services on offer from
various banks.

Value Added Features Citibank Stanchart HSBC Amex

- - -
Hotel discounts Yes
Yes
Travel fare discounts Yes Yes Yes
-
Free global calling card Yes (G) Yes Yes
-
Lost baggage insurance Yes Yes Yes
-
Accident insurance Yes Yes Yes
-
Insurance on goods purchased Yes Yes Yes

Waiver of payment in case of accidental - - -

Yes*
death

An innovative scheme offered by American Express, called Balance Transfer Service,

helps the cardholder to pay off out standings on other credit cards. Amex will pay the
card issuer and transfer the amount due to the Amex card. And for the first six months
the Amex card holder gets the benefit of a lower interest rate of 1.99% per month as
compared to 2.95% for most other banks. For frequent users, Amex has a scheme for
waiving the annual fees if the cardholder spends more than Rs45,000 in the preceding
12 months.

Another new thing on the horizon are the so-called co-branded cards. Several of them
have been have been launched recently. Companies like Indian Oil Corporation have
tied up with Citi bank to launch Indian Oil Citibank card. With this card one does not
require to pay a transaction fee for purchasing petrol at any Indian Oil outlet. The card
holder gets a 5% discount on all AMCO and Exide make batteries from authorized
dealers and Rs1,000 off at select outlets for MRF auto coat car painting charges.

There is also the Times card and Bharat Petroleum BOB card. These cards give you
discounts at several outlets. For example the Mahindra Stan chart card gives you
priority check-in and check-out facilities at Guest line hotels (run by Mahindras).
 RESEARCH
METHODOLOGY
 OBJECTIVES OF THE STUDY

A. To understand the impact of credit cards in the purchasing power of consumers.

B. To determine whether consumers are aware of credit card and its advantages.

C. To determine the consumers acceptability and likeness towards credit card.

D. To find out the features which attract consumers towards credit cards and the
parameters they use to compare the credit cards in Indian market.
 RESEARCH METHODOLOGY

SAMPLING: An integral component of research design is the sampling plan.

Specifically it addresses three questions:

(A) Sampling unit (whom to survey ) - Deciding whom to survey requires that the
universe or boundaries of the market from which data is sought, data is defined so
that an appropriate sample can be selected. In my study the people surveyed are
the service class and business class people who use credit cards in NCR.

(B) Sample size (how many to survey) - It depends both on the size of the budget
and the degree of confidence that the marketer want to place in the findings. The
larger the sample the more likely the responses will reflect the total universe
under study. The sample size in this study includes 60 persons.

(C) Sampling procedure – To carry out this project I have used non- probability
sampling where the researcher selects the most accessible population members from
whom to obtain information and the researcher uses his or her judgment to select the
population members who are good source for accurate information.
DATA COLLECTION –

PRIMARY DATA-
The primary data collected is through a questionnaire consisting of all types of
questions like ranking, dichotomous and open ended questions. The questionnaires
were supplemented by an interview to reach to better conclusions.

SECONDARY DATA –
The Secondary data is collected through internet and various brochures collected from
the banks itself some of the information required was also collected from the various
magazines.
DATA ANALYSIS
 DATA ANALYSIS & DATA INTERPRETATION

Based on the survey and the responses from the customers here are some of the
findings of my project which are represented in the form of graphs and charts.

Ans-1

Out of the 60 people surveyed the number of credit card users and non credit card
users are:

Credit card users Non-users

45 15
Ans-2

The distributions of various bank credit cards out of the 60 people are:

BANK NAME NUM BER OF PEOPLE

CITI BANK 52
ICICI 36
STAN CHART 44
HDFC 23
Ans-3

The number of years since when people have been using the credit cards minimum
being one year and maximum greater than three years :

NUMBER OF YEARS NUMBER OF PEOPLE

1 Year 6
2 Year 8
3 Year 28
> 3 Year 18
Ans-4

The distribution of whether people are satisfied with the current credit card service
they are using:

SATISFIED NOT SATISFIED

47 13
Ans-5
The ranking of various parameters as per preference of people while choosing a credit
card service of any bank:
FEATURES RANK 1 RANK 2 RANK 3 RANK 4 RANK 5 RANK 6
Annual fees 24 15 6 7 4 4
Convenience 17 8 12 14 3 6
Forward Bal 21 7 13 9 4 6
Cash Advance 18 14 7 5 12 4
Brand Name 16 7 18 5 4 10
APR (interest) 38 8 5 4 3 2
Ans-6

The influence of media in affecting the purchase decision of consumers for credit
cards can be depicted as:

MEDIA NUMBER OF
PEOPLE
Newspapers 22
Word of Mouth 38
Representative from banks 47
Television 20
Internet 14
Ans-7

The reasons why people are tending towards the use of credit cards, the factors that
influence are:

REASONS/FACTORS NUMBER OF PEOPLE

Spending Flexibility 18
Perfect for emergencies 9
Added benefits 16
Status symbol 8
Convenient to carry 12
All of the above 42
Ans-8

The people had different opinions as to whether the credit card increases the
purchasing power of consumers or not they are stated as:

OPINION NUMBER OF PEOPLE

Yes 30
No 22
Cant say 8
Ans-9

The reasons why people think that using a credit card has increased the purchasing
power of the consumers are:

REASONS NUMBER OF PEOPLE

3-4 weeks time before payment 37
Impulse purchase 38
Freedom from cash 43
Cash advance 28
Ans-10

When the people were asked to compare debit cards and credit cards the people had
different opinion they are stated as follows:

OPINIONS NUMBER OF PEOPLE

Both are equally good 17
Debit cards are better 14
Credit cards have more advantages 20
Cannot be compared 9
Ans-11

Reasons why some people find the use of credit cards as a disadvantage are :

REASONS NUMBER OF PEOPLE

Misuse if lost or misplaced 23
Financial burden 32
High interest rates 12
Can’t be used at all places 17
All of the above 14
FINDINGS
 FINDINGS

The findings of the project through primary data collection source are summarized as
follows :
 Out of the 60 people surveyed 75% people use the credit cards and 25%
people were not using the credit cards but were aware about the services of the
credit cards.
 Citibank ranks highest in popularity out of the people surveyed followed by
ICICI and then SCB.
 The association of the people with the credit cards for most of the people is 3
years which shows that credit cards had gained popularity ling time back in
India.
 Out of the 60 people surveyed 78% people were satisfied with the current
services of credit cards they were using and 22% people were not satisfied
with the services.
 The study also reveals that most of the people ranked annual percentage rate
or interest paid to be the most important factor before going in for any credit
card followed by the annual fees and value of forward balance.
 For most of the people the influence was the representatives of the bank or the
word of mouth that includes friends & relatives.
 Newspaper also played an important role in influencing the purchase decision
of the consumers.
 For most of the people the use of credit cards was gaining importance because
of reasons like they are convenient to carry, there is freedom from cash, then
due to facilities like cash advance, for some it was also a means of status
symbol.
 60% people say that credit cards have increased their purchasing power while
44% people say that it has not affected the purchasing power much and 16%
people are indifferent to this question.

 30% of the people say that the reason for the increase in purchasing power is
that they get the freedom to carry much cash for 26% of the people the reason
 is that they get involved in impulse purchase and for around 25% of the people
the reason is that u can buy today n pay later.
 When asked to compare the credit cards and the debit cards the 34% of people
said that credit cards have more advantages while 28% say that debit cards are
better while around 25% are of the view that both are equally good rest are of
the opinion that they have different features and benefits so cannot be
compared.
REVIEWS OF PEOPLE ABOUT CREDIT CARDS

 Its plastic money. You just know when you use it and being easy to carry and
use, you do not think twice before spending. Wow! Wonderful again to find
that you have to make the payment after almost 20 days after the arrival of the
same and if you spend in the beginning of the month, you end up making
payments after almost 50 days. Great::::: isn’t it? I would say it would rather
be cruel to take money through credit cards from the person who does not
even earn the amount, which he is now spending. If he goes bankrupt or does
not get a monthly salary, imagine the level of mental disorder the person could
go through especially when he has the entire family to handle too. It’s difficult
to change a habit and using a card would then be a habit for the one who starts
using it regularly. Again in a habit you always raise the level of wrong
consumption, which is the same when you start using a card. Using a credit
card could be as dangerous as probably commencing to smoke or falling for
one single female who does not even want to know you. As compared to a
credit card, the better option would be to go for a Debit Card, where you just
need to take care of the fact that you have enough amounts in your bank
account to use it. Whenever you use it.
 Credit isn’t your worst enemy. You are. Just like anything else in moderation
is good, so is credit. Use your discretion before you decide to pull out the
plastic. If you decide to splurge, do it within your means. All credit does is
give you the leverage over your current financial situation to spend more than
you can with your own money. But the buck (literally) stops there. Unless you
have a compelling reason to buy whatever it is you need, I would recommend
going easy on your extra capital.
 At the temptations of a credit card. The more you have the richer you are??
The glory is so painfully short lived. One careless extravagant moment and
you could spend the rest of your life paying for it. So keep those urges down.
Limit yourself to ONE credit card that you use in case of emergencies or in
cases where the only payment method is your credit card.
 Having said all the above, here’s the parting shot. Credit can be your maker or
breaker. What you choose to do with it is entirely up to you. Tempting as it
might be, there’s a huge downside to credit, which is you OWE money to
someone else! And if you know you can’t pay back what you owe, don’t pay
in the first place. There’s nothing like buying what you want with your honest
hard earned money. At the end of the day those are the things that make you
smile because they are truly yours.
 CONCLUSIONS

With respect to the primary data and informations collected I have reached to the
following conclusions in my project. My primary data that is the survey helps me to
practically analyze the data which I collected through internet and magazines
especially the reviews and critics comments about the use of credit cards:

(A) Looking at the current scenario we can well identify that the credit card is taking
a upper trend in India due to which more and more customers getting attracted
towards it.
(B) The study leads to mixed responses because out of 60 people surveyed half of
them were in favour of the fact that credit cards increase their purchasing power
while the other half were of the view that it doesn’t because people have
understood and realized the fact that although they have to pay later but they
have to pay from their pocket.
(C) Thus as per the survey conducted and the study made through the analysis it was
found out that credit cards do increase the purchasing power of the consumers
but to a certain extent because it gives them the liberty to pay later but the
consumers are becoming smarter and have understood the scenario quite well so
we cannot say that it altogether affects the buying habits because they have
realized that will have to face the financial burden later on.
(D) Since many customers are increasing and so the number of defaulters also. Due
to the increase in tendency of non repayments the bad debts of bank keep on
increasing.
(E) To add the popularity of the card and to increase the numbers of users the banks
are more liberalized in attracting new consumers.
(F) The media plays a very important role in attracting the customers to choose a
particular bank and its services and it can also help to retain the acquired
customers also.