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What is credit Card?

credit card can be termed as an unsecured personal loan offered to customers by the banks where the cardholder could purchase goods and services from authorized merchant or merchant establishments (MEs) of the bank up to a fixed limit on credit. Such credit is normally made available for a period of 30 to 45 days.

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Credit card market in India

ICICI Bank emerged as the leader in the credit card issuance category for the year, with its continued aggressive strategy, registering a 62 percent growth rate. ICICI Bank crossed the 36 lakh mark in terms of credit cards, galloping ahead (within four years of its launch) of pioneer Citibank (27 lakh cards), the global leader in credit cards. ICICI Bank holds 27% market share followed by Citibank with 19% market share. SBI-GE occupies the third slot with 14 % market share.
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Objective

To study the demographic factors of credit card holders. To know the using purpose of credit card by the holders. To assess the behavioural changes of credit card holders. To examine the consumption pattern of credit card holders. To find out the satisfaction level of existing 3/3/12

Data sources
Primary sources

Primary data has been collected through the structured questionnaire consisting mainly of the closed ended questions. Secondary data has been collected from the internet, journals, reference books etc.

Secondary sources

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Research Methodology

The study is based on primary data, which has been collected from the credit card users with the help of a well drafted and structured questionnaire . For the collection of primary data, we have confined ourselves to Ahmedabad, India. Our sample consists of a total of 100 respondents

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Beneficiaries
1

Banks Banks may come to know about the usage pattern of the credit card holders based on the demographics, purposes and consumption pattern and may aim to target new customers based on the derived facts.

2
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Probable subscribers

Major Credit card provider in India

Following are major credit card providers in India: HDFC ICICI Bank Axis Bank SBI Bank of Baroda Canara Bank 3/3/12

Types of Credit card

Following are various types of credit cards available in India: Premium Credit Cards Cash Back Credit Cards Gold Credit Cards Airline Credit Cards Silver Credit Cards Business Credit Cards 3/3/12

Credit card fraud

There is an international racket of cyber criminals. Credit card information in India is sold to cyber criminals in other countries. The information is misused for carrying out major financial frauds. . Due to lack of awareness, people submit personal details and credit card information to fraudulent emails. 3/3/12

Conti

In India, the Mail Order Telephone Order (MOTO) type account for the bulk of credit card frauds. This occurs when the card is not actually presented, but the details are given on the application form to buy goods or services or when the transaction is done on the telephone.
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Example of credit card fraud

Amit Tiwari had many names, bank accounts and clients. None of them were for real. With a plan that was both ingenious and nave, the 21-year-old engineering student from Pune tried to defraud a Mumbai-based credit card processing company, CC Avenue, of nearly Rs 900,000.He was arrested by the Mumbai Police on August 21, 2003 after nearly an year of hide and seek with CC Avenue. He's been charged for cheating under Section 420.

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