Credit Card Marketing in Bangladesh: Present status, problem and prospect. An empirical study.Submitted by Mohammad Zahedul alamThu, 28 May 2009

1.1. IntroductionAs a result of rapid globalization, advances in communication technologies and digitalization, the standard of living are developing day-by-day in Bangladesh. The infrastructure facilities have been changed gradually. So, now people are becoming fashion-oriented. They want to cope with the changing global economy. Although most of the people are illiterate and have no dealings with the Bank, but recently, the banking services in our country are becoming more sophisticated and modern. Most of the private banks offer the credit card along with the banking services. In recent times, credit card portfolios have been very profitable for banks, largely due to the booming economy of the late nineties. It is in initial stage in our country.1.2. Conceptual FrameworkA credit card allows consumers to purchase products or services without cash and to pay for them at a later date. To qualify for this type of credit, the consumer must open an account with a bank or company, which sponsors a card. They then receive a line of credit with a specified dollar amount. They can use the card to make purchases from participating merchants until they reach this credit limit. Every month the sponsor provides a bill, which tallies the card activity during the previous 30 days. Depending on the terms of the card, the customer may pay interest charges on the amount that they do not pay for on a monthly basis.

Credit card is a system of payment named after the small plastic card issued to users of the system. A credit card is different from a debit card in that it does not remove money from the user's account after every transaction. In the case of credit card, the issuer lends money to

the consumer i.e. the user. In short, a credit card is a card on which a fixed amount of money is loaded on the card, then the consumers can spend this amount by using this card through the ATM, i.e., Automated Teller Machines and POS i.e. Point of sales terminals located at different outlets. Credit Card is made of several layers of plastic laminated together. The core is commonly made from a plastic resin known as polyvinyl chloride acetate (PVCA). This design is mixed with specifying materials, dyes, and plasticizers to give it the proper appearance and consistency. This core material is laminated with thin layers of PVCA or clear plastic materials. These laminates will adhere to the core when applied with pressure and heat.The growth of credit card use in the United States since 1970 has been dramatic. In "Credit Cards: Use and Consumer Attitudes," an article published in the September 2000 issue of the Federal Reserve Bulletin, author Thomas Durkin reports thirty years of credit card statistics based on the Survey of Consumer Finances, a household survey conducted every three years by the Federal Reserve Board. In 1970, 16 percent of households held at least one bank credit card; by 1998, 68 percent of households did so.

The credit card issuers provide some incentives to convince the customers to use the credit card. Many credit card customers receive rewards, such as frequent flier points or cash back, as an incentive to use the card. Rewards are generally tied to purchasing an item or service on the card, which may or may not include balance transfers,When a card is stolen, or an unauthorized duplicate made, most card issuers will refund some or all of the charges that the customer would have otherwise received, for things they didn't buy. These refunds will in some cases be at the expense of the merchant, especially in mail order cases where the merchant cannot claim sight of the card, but in other cases, these costs must be borne by the card issuer. The customers have to pay the major fees that are for the following:

• Late payments;• Charges that result in exceeding the credit limit on the card (whether donedeliberately or by mistake);• Returned check fees or payment processing fees e.g. phone payment fee;• Cash advances and convenience checks (often 3 percent of the amount);• Transactions in a foreign currency (as much as 3 percent of the

amount; a few financialinstitutions charge no fee for this -- it is worth noting as an aside that the credit card issuercharges a fee on top of the international bank rate when converting currency, which inmost circumstances is a better rate than is available elsewhere, even with the fee added on);and membership fees (annual or monthly), sometimes a percentage of the credit limit.

Literature Review:Few articles have been found regarding the credit card marketing in Bangladesh. There are many articles regarding the credit card across the world. Yi-Wen Chien, Sharon A. Devaney: (2001) in his research, pointed the effects of credit attitude and socioeconomic factors on credit card and installment debt. But he did not point out any problems and prospects of credit card.Jon T ouah, M Sriganesh in their articles pointed out on real time fraud detection and presents a new and innovative approach in understanding spending patterns to decipher potential fraud cases. It makes use of self-organization map to decipher, filter and analyze customer behavior for detection of fraud.LC Thomas (1992) in his article, pointed out that Major changes have occurred in the U.K. in the distribution of the costs associated with credit-card operations, including the introduction of annual fees to cardholders, the lowering of merchant service charges, and the increasing proportion of cardholders paying off their monthly balances completely. The paper describes these changes and compares briefly the resulting fee and cost structure with that in the USA.

From the previous works on credit card, I found that there are some articles, which focused on most relevant terms. Some of the articles have been conceptual or anecdotal in nature while others have presented the empirical studies. Some studies are not appropriate in analyzing present status, problems and prospects of credit card marketing. There are few articles, which have clear conception in analyzing the present status, problems and prospects of credit card. So I have decided to study the present status, problem and prospects of credit card marketing in Bangladesh.2.1. Objectives of the study

The objectives of the study are:

i) To understand the existing performance of credit card marketing in Bangladesh;ii) To evaluate the factors those affect the marketing efficiency of credit card.iii) To find out the people's attitudes towards the credit card.iv) To identify the problems existing in this sector and to recommend some innovative measuresbased on the survey for the development and promotion of credit card marketing.

2.1. Justification of the StudyCredit card concepts are at initial stage in our country. There are no sufficient papers or publications regarding the credit card marketing in Bangladesh. Some people show negative attitudes toward the credit card like insurance policies. It is very difficult for the card issuers to promote the potential customers to use the credit card. Although credit card provides some facilities for the customers but they are not interested to become a cardholder. The ATM booth and POS terminals are not available in our country. Recently, the card issuers face the competition in the market place. The market size of the credit card is small. So, I have taken a decision to write upon the credit card marketing in Bangladesh. In this study, I have tried to show the existing performance of credit card marketing, which will be very helpful for the potential card issuers. On the other hand, this paper will benefit the existing card issuers. I have also provided some recommendations and suggestions, which will be helpful for the card issuers and also provided the attitudes of the people toward the credit card.

2.1. MethodologyThis study is descriptive in nature. For the purpose of the study, data were collected from both secondary and primary sources. But, maximum concentration was given on primary sources of data. All the primary data were collected from personal interview, administration of a questionnaire and formal interviews with key officials and staffs of the card issuers and cardholders in Dhaka city, Rajshahi divisional city, and Chittagong divisional city. The secondary data were collected from the official records, annual publication manuals, circulars and other official documents, website of the Bank, other sites of the Internet. The samples were selected randomly from the Dhaka city area, Rajshahi divisional city and Chittagong divisional city. Total sample size is 600.3.1. Historical Background

The credit card is the successor of a variety of merchant credit schemes. It was the first used in the 1920, in the United States, specifically to sell fuel to a growing number of automobile owners. It has been widely regarded that rampant use of credit cards contributed greatly to the great depression in the United States that began in the latter 1920s. In 1938, several companies started to accept each other's cards. The concept of using a card for purchasing was invented in 1887 by Edward Bellamy and described in his utopian novel looking Backward. Bellamy uses the explicit term "Credit Card" eleven times in his novel

Ralph Schneider and Frank X. McNamara invented the concept of paying merchants using a card in 1950 in order to consolidate multiple cards. The Diners club produced the first "general purpose" charge card, which is similar But required the entire bill to be paid with each statement; it was followed shortly thereafter by American Express. Western Union had begun issuing charge cards to its frequent customers in 1914.Bank of America created the BankAmericard in 1958, a product that eventually evolved into the Visa system ("Chargex" also became Visa). Master Card came to being in 1966 when a group of credit-issuing banks established Master Charge. The fractured nature of the US banking system meant that credit cards became an effective way for those who were traveling around the country to, in effect, move their credit to places where they could not directly use their banking facilities.Findings and Discussions:4.1. Existing performance of credit card MarketingIn this section, I have tried to find out the present situation of credit card marketing in terms of sales, costs, profit, market, competitors, channels and the forces in the macro environment in Bangladesh.4.2. Target market of credit cardGenerally, the government employees, multinational companies, professionals, bankers and individuals like them with a minimum gross income of BDT10000 per month will be preferred for issuance of local credit card. Specially, the card issuers have focused on their customers along with the following segments of the society:

• Customers of Bank, both borrowers and depositors including scheme depositors;• Executives and Officers of Banks, Financial institutions, Insurance Companies;

• Directors and Executives of Export oriented garments industries;• Professional-Doctors, Engineers, Accountants etc;• Employees of Foreign and Multinational Companies;• University and College Teachers;• Employees of Mobile Telephone Service Provider;• High officials of Corporate body or Government organizations;• Businessmen in the society;• Officers from the rank of Asstt. Secretary to above in all Ministries;• Members of Chambers of Commerce and Industries and other Business Associations;• Senior level Defense Officers;• High officials of renowned NGOs, International Voluntary Organization i.e. UNICEF, UNFPA & UNDP.4.3. CompetitionToday, most of the private banks provide the credit card services in Bangladesh. The standard chartered Bank was the pioneer of the credit card in Bangladesh. Standard Chartered Bank (SCB) issues both VISA and MasterCard Credit Cards, the two renowned Credit Card brands. Its product range includes:

Local Card• Visa Silver Credit Card• Visa Mini Card• MasterCard Silver Credit Card• MasterCard Gold Credit Card• MasterCard Platinum Credit Card• MasterCard Cricket CardInternational Card• Visa Silver Credit Card• Visa GoldNow Jamuna Bank, Prime Bank, UCBL i.e. United Commercial Bank Limited, NCC Bank i.e. National Credit And Commerce Bank Limited, National Bank, One Bank, Shahjalal Bank, The city Bank, Brac Bank, Eastern Bank and Bank Asia etc have issued the credit cards. The Dutch Bangla Bank limited will issue the credit card very soon. Some Non-Banking financial institutions such as Lank-Bangla have also launched the credit cards. Although it is a new concept in Bangladesh, some Banks devoted some resources to develop the credit card services. They try to install the ATM booth and Merchant locations in many divisional cities of the country.At the moment, the total size of the credit card market (approximately) in Bangladesh is 7 Lac. The revenues to be earned from credit cards is

not whopping because the customer base in Bangladesh is still too thin with only higher middle class and rich people having the ability to use foreign currency credit cards and even they may not be able to spend too much foreign currency because of regulations. The target market is the rich people who travel from one place to another frequently and need money any time.The ATM network and POS i.e. point of sales cover only the city and municipality areas. All over the country, the total ATM machines are approximately 450 and total POS terminals are approximately 45000. The Standard Chartered Bank is the pioneer in the credit card sector. It has a card division, which employs some sales people to sell the card across the country.In the past, only standard chartered bank launched the credit card in Bangladesh. Today, most of the online bank provides the credit card. So, this bank faces the severe competition in marketing the credit card. Now, they have to fight with one another to survive in the market place. Today, some banks offer the additional facilities with the credit facilities. In Bangladesh, the market size is small, but most of the private banks offer the credit cards services in Bangladesh. Now I have tried to show the total scenario network of ATM of different companies.

4.4. Channel of DistributionNow, the Banks have installed the ATM and POS terminals in different areas of Bangladesh through which the cardholders use their credit card. Today Dutch Bangla Bank Limited has established 250 ATM machines in different parts of Bangladesh and has made agreement with other banks to use these ATM machines and POS terminals. The customers can collect the credit card by applying to any branches of the issuing bank very easily and quickly. The customers can pay their bill in any branch of the bank located in Bangladesh. The customers can know their statements anytime and anywhere in Bangladesh.The idea of a shared ATM network was conceived in 1996 but the commercial operation started in 2001. (The daily star, November 2003)The infrastructure facilities are not so good for the credit card marketing in Bangladesh. People are not aware of or interested in the credit card facilities and how to operate the credit card or debit card. We have collected the information about the countrywide ATM network of Dutch Bangla Bank limited. These networks are shown below:Table 1.Division Number of ATMsDhaka 130Chittagong 50

Khulna 25Rajshahi 15Sylhet 20Barishal 10Total 250Sources: the daily star, July01, 2008.

ATMs of Standard Chartered Bank limited are conveniently located across the key cities of the countryTable 2.Dhaka 20 ATMsNarayanganj 1 ATMSylhet 1 ATMChittagong 3 ATMsKhulna 1 ATMBogra 1 ATMSource: field work, 2009Besides the above, there is some recent information about the credit card. Such as-• IFIC Bank limited has become a principal membership of VISA card issuers. It will issue VISA credit card in Bangladesh very soon;• The interest rate of the standard chartered credit card is 2.5%. Standard chartered Bank has collaborated with Dutch Bangla Bank to use the ATM Booth across the country;• Citi bank has collaborated with Dutch Bangla Bank to expand their banking services; and• Eastern Bank has launched the credit card from July2007.Dutch Bangla limited is the pioneer in establishing the ATM machines. This bank establishes more than 300 ATM booths across the country and has made agreement with other banks for sharing the ATM network. Such as are given to below;Suppliers of Cards to the Bank or other Non-banking Institutions in Bangladesh are Visa card/Silver/Gold, MasterCard/ Silver/ Gold, Discovery Card, American Express, Vanik, Lonka Bangla etc.5.1. Sales Promotion of Cards through Employees:I have collected information from different Banks and found that these banks also use sales promotion through the employees. The employees can contribute to make the credit card business a success. Simultaneously, executive officers posted at Head office may put concerted effort to sell the cards. Salespeople are paid on salary plus commission to sell the credit card. The Banks offer some incentives to motivate the sales executive to sell more and more credit card. These

banks also offer some incentives to the customers to use the credit card more and more. In Standard Chartered Bank, the sales executives of credit cards are paid on salary (fixed amount 5000) plus commission on each card (Tk. 500 per card).The card issuer's banks have already taken various promotional activities to convince the potential customers to use the credit card. I have surveyed the standard Chartered Bank and saw that it uses the personal sales force. This bank established a personal selling card division. The sales executive works on the basis of commissions. Other banks are also using the promotional activities to convince the customers to use the credit cards. The use of the credit card is initials stages in our country. Most of the customers are at the unaware stages. So the objectives of promotional activities are to inform the customer about the credit card facilities different media. Some card issuers offer some rewards program to convince the customers to use more credit cards. Such the card users can earn points by using the credit card and reward themselves with gifts from rewards catalogue, shopping vouchers, Meal vouchers, travel vouchers and membership fee waivers. So "Lanka Bangla card not only says more about you than money could ever"; it also rewards you more deserving than most! Because of intense competition in the credit card industry, credit card providers often offer incentives such as frequent flier points, gift certificates, or cash back (typically 1 percent) to try to attract customers to their program.

6.1. Factors affecting the marketing efficiency:The following factors affect the marketing efficiency of the credit card in Bangladesh:• Geographical factors affect the marketing efficiency of the credit card in Bangladesh. Because most of the people live in the remote area. The infrastructure facilities are not appropriate for establishing the ATM machines and POS terminal in the remote area;• Some individuals are opposed to the concept of credit card usages;• Some people have negative attitudes towards the credit card in our country;• The spending pattern of the people in Bangladesh also affects the marketing efficiency of the credit card. The buying power is also low. They are not habituated with the credit card;• Most of the people are illiterate; they do not know how to use the credit card;• The ATM and POS terminals are not available in Bangladesh;• Most of the people are afraid of taking the credit card because they

think that it is one kind of complexities and difficulties in life;• Most peoples are religious minded, they do not want to take loan from the commercial Bank;• Lack of online facilities also affects the marketing efficiency of the credit card; and• The requirements for applying the credit card are very high and complex in Bangladesh.

7.1. Table: 3 Opinions of Bankers about certain questions regarding the CreditCard Marketing in BangladeshTable.1.Questions Yes No Total Number of BankersAre the users of credit card increasing day by day? 14(93.33%) 1(6.67%) 15Do you think that there is bright future for the credit card marketing in Bangladesh? 13(86.67%) 2(13.33%) 15Do you face any problem in marketing the credit card? 12(80%) 3(20%) 15Do you think that the infrastructure facility is not appropriate for credit card marketing in Bangladesh? 14(93.33%) 1(6.67%) 15Source: Interview with different officials of the Bank.

8. People's attitudes towards the credit cardI have surveyed different offices in which most of the potential buyers gave their opinions which are given below:Most of the people show the negative attitudes towards the credit card. 80% of the customers opine that the annual charges and interest rate of all the credit cards are high. Most of the people said that they are not interested in the credit card. Because they do not need to move from one place to another place so much. They also said that most of the shops have no POS terminal. They also opine that it is an extra complexity for them and they have to bear these responsibilities. Some people said that if they have no money in their pocket, they will not spend the money, but, if they have any credit card, they will have to spend the money by using the credit card even though it is not so much essential. 20% respondents said that it is very difficult to

understand easily. Some body said that they collected the credit card through the intensive promotional activities, but they never use it for the first time. 60% people said that it is not essential for them because they are permanent employee of a particular organization. So, they do not need to go to one location to another within very short time. So, they do not need credit card. Some people opined that their income is limited; so they do not want to engage in such kind of activities. Some people opined that it is a luxurious and fashionable product; so they do not want to use the credit card.

Table: 4. Attitudes towards the credit card in BangladeshNo. of Respondent Positive Negative Positive in percentages Negative in percentages600 360 240 60% 40%Sources: Field data, Dhaka city, June 2008.

Table: 5. Showing the percentages of the people know about the credit card facilities.No. of Respondent Aware Unaware600 30% 70%Sources: Data obtained by studying the field, June, 2008.Table: 6. Showing the percentage of the people likes or dislikes the credit cardNo of Respondents Like Dislike800 40% 60%Sources: Field data, June 2008.

Why do people dislike the credit card?They dislike the credit card due to the following reasons:Table: 7Causes of disliking the credit card Number of respondentsHigh annual charge 150High interest rate 100Fearing of increasing the expenditure 200Limited income 150Ignorance about credit card. 200Total Number of Respondents 800

Few of the potential customers think that the ATM booth and POS terminals are sufficient for credit cardmarketing in Bangladesh. I have interviewed 600 potential customers and their responses are as follows:

Table: 8Question YES NOAre ATM booths and POS terminals sufficient in Bangladesh? 30% 70%Sources: Field data, June 2008.

9.1. Opinions of the Existing CardholderIn this study, I have surveyed more than 400 card users and took their opinions and these are given below:They have informed me that-

• Some cardholders comment that they will avoid the credit card in future due to high interest rate, complexity and high annual charge;• 15% of the respondents gave opinions that they do not know how to utilize the credit card properly;• Some of the respondents comment that they will not refer their relatives, collogues and other family members to become a credit cardholder;• Some respondents informed me that they are always afraid of losing the credit card;• Some one comment that the costs of using the credit card are more than that of benefits;• Some one said that it is unnecessary in aspects of Bangladesh; and• 100% respondent said that the ATM and POS terminals are not available in Bangladesh;• Some respondents said that it is just only for prestige, but it has no utility in case of Bangladesh;• Some one said that credit card encourage the users to spend more than the financial capacity they have;• Some of the respondents said that although they have credit, they do not use it for the first time; and• 20% of the respondents commented that they would avoid the credit card in future.10.1. Opinions of the existing credit card holder about certain questionsTable 10.Question YES NO Total number of respondentsDo you use the credit card regularly? 315(70%) 135(30%) 450

Are you satisfied by using the credit? 400

(88.88%) 50(11.12%) 450Do you think that the annual charge of credit card is high? 300(66.67%) 150(33.33%) 450Do you think that credit card is luxurious product? 200(44.45%) 250(55.55%) 450Do you think that most of people in our country do not know about credit card? 400(88.89) 50(11.11%) 450Sources: Interviews with existing cardholders, June, 2008.

11. ProblemsThe requirement for application for the credit card is very complex and very difficult to follow. But in Bangladesh, most of the people are poor. They live from hand to mouth. They are not interested in credit card or they do not know how to use the credit card and what the facilities of credit card are. The annual charge and interest rate are higher than any other countries in the world. The major problems of credit card marketing are as follows:

• Most of the people are not aware of the credit card facilities;• The infrastructures facilities are not appropriate for the credit card marketing;• Only a few shopping complex use the POS terminal;• The standard of living does not match with standard of credit card.;• The installation costs of ATM booth are high in Bangladesh;• Most of the shopkeepers are not interested to collect the money by using the credit card;• The perception about the credit card is negative as like as Insurance Company in Bangladesh;• Most of the people think that credit card is one kind of hassles;• The total numbers of ATM booth in Bangladesh are approximately 400, which are not sufficient for the regular card users;• Most of the officials of the various banks said that Most of the people of Bangladesh do not know about the facilities of credit card; and• There are varieties of credit card, so most of the users do not know about the functions of these credit cards.

12. Future for the Credit Card Marketing in Bangladesh

From the above discussions, we came to know that there is a bright future for the credit card marketing in Bangladesh. Most of the companies are at the initial stage of the credit card marketing in Bangladesh. If the card issuers provide the ATM and POS terminals available in Bangladesh, then the demand for credit card will be increased. Most of the people do not know about the credit card. But in developed countries, credit card is very common and people use this card very properly and utilize the facilities of the credit card. If the card issuers provide information about the credit card to the consumer, then the usages of the credit card will be increased day by day. Technological advances also increase the demand for the credit card services properly. Now Dutch Bangla Bank installed 250 ATM Booth in Bangladesh and has made agreement with other Banks for using the ATM machines. The total size of the credit card market is increasing day by day. If the card issuers properly provide the facilities and convince the consumer for using the credit card, then there will be a bright future for the credit card. Since most of the consumers are at the unaware stage in case of credit card, the companies have to take step to convert the consumers into the awareness stages. Within the 2009, Brac Bank will expanse their branches in every sub-division in Bangladesh and each branches they will provide credit card system.

13. Recommendations13.1. Following are a few tips and suggestions about credit cards for the card users:

• Credit cards are just like a loan-you have to pay what you owe - so try and not overcharge more than you can afford to pay;• Keep track of how much you spend on your credit card. Remember that incidental and impulse purchasesadd up fast;• Save your credit card receipts. Compare them with your monthly bill. Promptly report problems to the company that issued the card;• Never lend your credit cards to anyone;• Owing more than you can repay can damage your credit rating. That can make it hard to finance a car, rent an apartment, get insurance or even get a job;• Pay your credit card bill on time, and in full when possible. If you don't, you'll have to pay finance charges on the unpaid balance-and it takes forever to get caught up if you just pay the minimum; and• There are many advantages of having a credit card such as being able to purchase items online and make hotel and car reservations.

The way you handle your purchases should be taken seriously.

13.2. The suggestions and recommendations for the card issuers:

• The card issuers should reduce the interest rate as soon as possible;• The card issuers should make available ATM booth and POS terminal in Bangladesh;• The Bank should provide proper information to customer regarding the credit card;• The requirements for being cardholder should be simple and easy;• The Card issuers should install POS terminals available at the shopping mall;• The card issuers should devote in promotion activities;• The card issuers first should survey the market and identify the customers' needs, wants and interests of the prospective customers and then accordingly design the card's facilities;• The Bank should provide the proper instructions how to use the credit card properly and efficiently; and• The card issuers should increase other facilities of the credit card.14. Concluding RemarksActually credit card is at the initial stage in Bangladesh. Most of the people in Bangladesh are not familiar with the culture of using credit card. Few people use the credit card only for the prestige and status. Actually credit card is status-related items. If the companies establish the ATM booth and POS terminals sufficiently and make it easy and simple for the customers to use these instruments, then the users of the credit card will be increasing day by day in our country. The companies have to rethink their philosophies, concepts and process regarding the credit card marketing in Bangladesh. They have to cope with the culture of the people of Bangladesh. If all these suggestions and recommendations are accepted and implemented by the policy makers and the credit card issuers, it is expected that the credit card sector would increase to a large extent.References:

Anwar G M Javed, "Purchasing Power Parity: Testing in Asia-Pacific Countries and Comparing with Major Markets" The Journal of Business Studies, Volume xxvi No: 2, December, 2005.

Kotler Philip, Principles of Marketing, 12th Edition.

Kotler Philip, Marketing Management, 12th Edition.

Durkin, Thomas A. "Credit Cards: Use and Consumer Attitudes, 1970-2000." Federal Reserve Bulletin 86, no. 9 (Sept. 2000): 623-634.

Evans, David S., and Richard Schmalensee. Paying with Plastic: The Digital Revolution in Buying and Borrowing. Cambridge, Mass.: MIT Press, 1999.

Mandell, Lewis. The Credit Card Industry: A History. Boston: Twayne Publishers, 1990.

Manning, Robert D. Credit Card Nation: The Consequences of America's Addiction to Credit. New York: Basic Books, 2000.

Nilson Report. Home page at http://www.nilsonreport.com.

Spofford, Gavin, and Robert H. Grant. A History of Bank Credit Cards. Washington, D.C.: Federal Home Loan Bank Board, 1975.

Rafique, Abdur, December, 1996. The challenges of TVE for Human Resource Development-Policy Planning Strategy, Bangladesh Technical Education Board, Dhaka.

History of Credit card. Home page at http://www.creditcard.com.

Rahman Dr. Mizanur and Alam Ahmed Fakhrul, "Students' Attitudes Towards Advertising in Bangladesh." Dhaka University Journal of Business Studies, Vol. 18(2), 1997, PP-159-170.

Alam, Md. Zahedul, "Credit Card Marketing at Rajshahi Metropolitan City in Bangladesh: Present status, Problems and Prospects." Journal of Institute of Business Studies, University of Rajshahi, volume, 2009, PP-(---).

Chien Yi-Wen, . Devaney Sharon A, 2001, "the effects of credit attitude and socioeconomic factors on credit card and installment debt" Journal of consumer affairs, Vol. 35

Thomas LC, 1992, "Dividing credit-card costs fairly" IMA J Management Math, Vol. 4, January, pp. 125-138..