This document discusses credit cards and provides suggestions for making credit cards more accessible. It notes that eligibility requirements for credit cards are currently too complex, preventing many customers who can repay loans from getting cards. The author suggests that banks should issue credit cards to more customers regardless of savings account status or other criteria, as many can repay bills. Additionally, the document proposes several ideas to incentivize credit card use, such as special discounts, extended EMIs, and reward points programs. The goal is to expand card eligibility while maintaining customer loyalty and increasing bank revenues.
4. Credit cards
It is a plastic card having a magnetic strip, issued by a
bank or business authorizing the holder to buy goods
or services on credit. Also called charge cards
The concept of using a card for was first described in
1887 by Edward Bellamy in his utopian novel Looking
Backward.
The size of most credit cards is 85.60 × 53.98 mm
5. Eligibility of getting credit card
(what I think about)
Eligibility of getting credit card should be easy because
now days everyone wants a credit card to do shopping
but getting card is very tough for normal people.
So many customers are able to repay the loan to banks
but they are not eligible to get a credit card because he
does not have a saving a/c.
If would be a manager in bank so I will try to do easy
process to get a credit card.
6. My opinion to bank
I think so eligibility is require to issue the new credit
card but it should not be very complex because if
someone is able to pay the monthly EMI to bank and
bank is not providing credit card to him so bank can
loss huge amount of money.
Because everyone is not eligible for the credit card but
they can pay the bill on EMI basis so bank should issue
credit card to them.
7. If I will be manager in bank so I will issue credit card
to all the customers because everyone wants to spend
money and all can repay.
A kirana store keeper is not eligible for the credit card
but he can repay the loan if he will purchase any
product from any store on EMI basis . Because his
income is good so I think bank’s should provide credit
card to them also.
8. Actions taken from me
Bank’s should provide discount on credit card
shopping .
they should give some additional benefits to customers
so they can use credit card for the shopping.
Credit card holder should get more than 12 months of
EMI benefit.
9. Bank’s should tie up most of the retail stores if any
customer is doing shoppping from the credit card so
he is eligible for the special discount.
Customer can get extra point which he can redeem
later as a money.
10. Banks should launch a new credit card which
customers can use only in retail stores so banks can get
more information about their customers .
When banks are issuing credit card to any customer so
he should try to know the customer’s purchasing
power.
11. On festive season bank can send them mail and give
them special discount for particular that customer so
he will be able to maintain a good relationship with all
the customers.
And customers also will show the loyalty agains bank
and banks can be earn a good amount of money from
them.
12. When bank launch a new card to the customers only
for retail shopping so bank can track to all those
customers and what they are purchasing more and
what kind of product the are purchasing so bank can
give them special discount offer.
E.g. suppose a customer is buying mostly electronics
product so bank can give them discount on electronic
product if he will purchase later so he can track to all
the customers by his favourate buying.
13. Based on mode of credit recovery
Charge Card-A card that charges no interest but
requires the user to pay his/her balance in full upon
receipt of the statement, usually on a monthly basis.
While it is similar to a credit card, the major benefit
offered by a charge card is that it has much higher,
often unlimited, spending limits.
Revolving credit card-A line of credit where
the customer pays a commitment fee and is then
allowed to use the funds when they are needed. It is
usually used for operating purposes, fluctuating each
month depending on the customer's current cash flow
needs
14. Based on status of credit card
Standard Card- it is a generally issued credit card
Business Card- (Executive cards ) it is issued to small
partnership firms , solicitors, tax- consultants ,for use
by executives on their business trips.
Gold Card-a credit card issued by credit-card
companies to favoured clients, entitling them to high
unsecured overdrafts, some insurance cover, etc
15. Based on geographical validity
Domestic card- Cards that are valid
only in India and Nepal are called
domestiac cards.
International Card- credit Cards
that are valid internationally are
called international cards.
16. Based on franchise/ Tie-up
Bank has to tie up with all the retailers like big bazaar,
food bazaar, hyper city etc.
So banks can earn good amount of money from them
in form of interest and service charges.
Banks should try to tie up with maximum number of
dealers like tours and travels, aviation industry etc.
17. To credit card companies/ Banks :
Source of revenue
- Joining fee
- card renew fee
- services charges from retailers
- Interest charged to customer
I would like to suggest them to change the eligibility to get the credit card.
Because now days most of the customer want s to use credit card facility and when they apply for the new credit card so eligibility makes a problem to get a credit card.
Banks should take good decision against the eligibility of the credit card.
I would like to suggest them to change the eligibility to get the credit card.
Because now days most of the customer want s to use credit card facility and when they apply for the new credit card so eligibility makes a problem to get a credit card.
Banks should take good decision against the eligibility of the credit card.
Customer wants a credit card which he can use for all the purposes. banks should not provide so many types of card to the customers because nobody wants to carry a lot of card. There is a chance to loss it or miss use it by other person.
Most of the customer said to me bank’s should not charge the card renew fee. Once bank has issue the card to customer is should be free of lifetime and they have to charge only interest and service charge from the retailers.
