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IGENIOUS 5

GROUP MEMBERS ROLL NO.

ARCHANA PANCHAL 12REKHA RAWAT 20SMRUTI THAKKAR 26SHAILESH MOURYA 28AKSHAY RADDI 32

K.E.S SHROFF COLLEGE OF ARTS & COMMERCE

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∁REDIT

∁ARDS

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AGENDA…

The prime agenda is to explain & make you understand that how credit cards are important part of financial services. Also , how does various banking sector are striving hard for credit cards marketing by adopting various competitive strategies as credit cards are ranked as one of the most profitable product that a bank offers.

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WHAT IS CREDIT CARDS ?

A small plastic card issued to users as a system of payment.

It allows its holder to buy goods and services based on the

holder's promise to pay for these goods and services.

Charges interest and primarily used for short-

term financing.

Interest usually begins one month after a purchase is made .

Borrowing limits are pre-set according to the individual's

credit rating. 

It differs from a debit card.

Credit-card use originated in the U.S. in the 1920s.

The first universal credit card was issued by Diners' Club in

1950.

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HISTORY… 1800s - Credit coins and charge plates as

currency 1900s - Credit Cards and Payment Efficiency The first bank card, named "Charg-It," introduced

in 1946 by John Biggins. The next step in credit cards- the story began in

1949 when a man named Frank McNamara had a business Diners Club in New York's Major's Cabin Grill.

By 1951,the card was replaced with plastic. The general-purpose credit card was born in

1966

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DESIGN OF CREDIT CARDS…

Designed with complex security features to prevent the possibility of fraud.

Unique account number Security design feature

involves the signature panel on the back of the card.

The magnetic stripe on the back of the card

Raw material used to make credit card.

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FEATURES OF CREDIT CARDS…

1. Fees 2. The annual fee3. Cash Advance Fee4. Miscellaneous Fees5. Incentives 6. Rewards7. Credit Limit8. Interest Rate9. Grace Period

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ADVANTAGES… They allow you to make purchases on credit without carrying

around a lot of cash. This allows you a lot of flexibility. 

They allow accurate record-keeping by consolidating purchases into a single statement. 

They allow convenient remote purchasing - ordering/shopping online or by phone.

They allow you to pay for large purchases in small, monthly installments. 

Under certain circumstances, they allow you to withhold payment for merchandise which proves defective. 

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They are cheaper for short-term borrowing - interest is only paid on the remaining debt, not the full loan amount. 

Many cards offer additional benefits such as additional insurance cover on purchases, cash back, air miles and discounts on holidays.

 

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DISADVANTAGES…

You may become an impulsive buyer and tend to overspend because of the ease of using credit cards.

Cards can encourage the purchasing of goods and services you cannot really afford.

Credit cards are a relatively expensive way of obtaining credit if you don't use them carefully, especially because of the high interest rates and other costs.

Lost or stolen cards may result in some unwanted expense and inconvenience.

The use of a large number of credit cards can get you even further into debt.

Using a credit card, introduces an element of risk resulting in fraudulent purchases on the card.

Fraudulent or unauthorized charges may take months to dispute, investigate, and resolve.

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PARTIES INVOLVED…

Cardholder Card-issuing bank Merchant Acquiring bank Independent sales organization Merchant account Credit Card association Transaction network Affinity partner

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HOW DOES CREDIT CARDS WORK?

Credit cards are issued by a credit card issuer, after an account has been approved by the credit provider.

The cardholder indicates consent to pay by signing a receipt

Electronic  verification systems. Statement and charges.

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HOW TO APPLY FOR CREDIT CARDS ?

1. Find out information about credit card plans.2. Fill out the paper application for a credit

card of your choice.3. Apply on phone, by calling up the toll free

number of the credit card company of your choice.

4. Apply online, which is usually the easiest & fastest.

5. Compare the different features.6. Check for the preconditions of applying.7. Fill in the details, double check the

information.8. Apply for multiple credit cards if you

choose.

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MARKETING CREDIT CARDS

Competitive strategies, it is credit card marketing.

Ranked as one of the most profitable products a bank offers.

Competition is cutthroat right now More issuers are fighting for market share. To keep them away from other issuers.

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TYPES OF CREDIT CARDS…

Cash back credit cards

Balance transfer credit cardsLow interest credit

cardsLife time free credit cards

Premium credit cards Gold credit cards Airline credit cards

Silver credit cards

Business credit cards

Co-branded credit cards

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CREDIT CARDS ISSUED BY ICICI BANK…

ICICI Bank VISA Signature Credit Card – Rs.40,104 ICICI Bank Ascent American Express Credit Card – Rs.13,264 ICICI Bank Platinum Identity Credit Card – Rs.23,219 ICICI Bank British Airways Premium Credit Card Account –

Rs.64,014 ICICI Bank British Airways Classic Credit Card Account –Rs.44,568 ICICI Bank Singapore Airlines VISA Platinum Credit Card –

Rs.43,487 ICICI Bank Instant Platinum Credit Card –Rs.1,700 ICICI Bank Instant Gold Credit Card –Rs.200 ICICI Bank HPCL Platinum Credit Card -Rs.2580 ICICI Bank HPCL Titanium Credit Card –Rs.2580 ICICI Bank Kingfisher Airlines MasterCard Titanium Credit Card –

Rs.2850 ICICI Bank Kingfisher Airlines MasterCard Platinum Credit Card –

Rs.20760

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MAJOR SERVICES PROVIDERS OF CREDIT CARDS…

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IN CREDIT CARD…

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FUTURE OF CREDIT CARDS

First, improvement in plastic chemistry and molding technology.

Second, breakthrough in digital technology.

Third, marketing initiative.

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SUGGESTION…

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THANK YOU…