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SUMMER INTERNSHIP PROJECT REPORT

ON
“Customer’s Perception Towards the
Performance of ICICI Credit Cards with
Reference to the City of Cuttack”

For Partial Fulfillment of


Post Graduate Programme in International Business

Submitted by:
BISWARANJAN PATRO
Registration Number: PGPIB/07-09/016
Under the Supervision of
Prof. R.K.BISWAL Mr.SUBHARANJAN MOHANTY
(Faculty guide) (Corporate Guide)

Submitted to
ASIAN SCHOOL OF BUSINESS MANAGEMENT,
BHUBANESWAR
JUNE 2008
SUBHARANJAN MOHANTY
BUSINESS MANAGER
ICICI CREDIT CARDS DEPT
CUTTACK

CERTIFICATE

This is to certify that Biswaranjan Patro, a student of Asian


School of Business Management is pursuing his PGPIB has
worked under my guidance and supervision on his dissertation
entitled “Customer’s Perception Towards the Performance of
ICICI Credit Cards with Reference to the City of Cuttack”. To
the best of my knowledge, this is an original piece of work.

( Subharanjan Mohanty)

ii
Prof. Ratikanta Biswal,
Asian School of Business Management,
Bhubaneswar

CERTIFICATE

This is to certify that Biswaranjan Patro, student of Asian


School of Business Management, pursuing his PGP-IB, has
worked under my guidance and supervision on his project entitled
“Customer’s Perception Towards the Performance of ICICI
Credit Cards with Reference to the City of Cuttack”. To the best
of my knowledge this is an original piece of work and he has
successfully completed his project work.

(Prof. Ratikanta Biswal)

iii
DECLARATION

This project report entitled “Customer’s Perception Towards


the Performance of ICICI Credit Cards with Reference to the
City of Cuttack” is a genuine Interim report carried out by me and
has neither been submitted nor published anywhere in any form
before. Either this report or part of it has not been submitted to
anywhere for the award of any degree.

CUTTACK Biswaranjan Patro


Date: Regd No-PGPIB/07-09/16

iv
ACKNOWLEDGEMENT

I take this opportunity to express my thanks to those who individually


as well as collectively helped me in the successful completion of my summer
project.
First of all I would like to thank my college and our special and
dynamic founder director Dr. Biswajeet Pattanayak for giving me the
opportunity to join this organization for Summer Internship Programme.
I sincerely thank Mr.Dipankar Sen the Area Sales manager (ASM)
ICICI Bank and, Mr.Subharanjan Mohanty my Corporate guide/ Business
Manager of ICICI Credit Cards division of Cuttack branch for giving me
this opportunity to work in their esteemed organization and helping me for
completing the project successfully. He was always there standing beside me
whenever any help was required. I would also like to thank Itishree madam
and other staffs for their valuable suggestion and advise. All people shared
their experience which was very much enlightening for me.
My sincere regards to my faculty guide Prof. Ratikanta Biswal for his
endeavor, worthy guidance, encouragement and clarifying the doubts in the
area of my project study.
I would be failing in my duty if I do not thank my parents, and some of
my friends for their constant support and helping me in resolving every
issue. for completing this project
Last but not the least; I am very much thankful to Asian School of
Business Management (staff) for helping me in resolving every issue.
My project at ICICI Bank Ltd has been an enriching experience.

Biswaranjan Patro
PGPIB/0-09/18

v
EXECUTIVE SUMMARY
The project titled “Customer’s Perception Towards the
Performance of ICICI Credit Cards with Reference to the City of Cuttack”
has been carried out for ICICI Bank Ltd in the city of Cuttack.. The main
objectives of the study were to study the perception of people and market
opinion towards credit cards in general and towards ICICI credit cards in
particular in the city of Cuttack.
Market research in Cuttack showed credit cards offer consumers
an easy way to track expenses, which is necessary for both monitoring
personal expenditures and the tracking of work-related expenses for
taxation and reimbursement purposes. It was convenient in providing large
variety of credit limits, repayment arrangement, and other perks (such as
rewards schemes in which points earned by purchasing goods with the card
can be redeemed for further goods and services or credit card cash back).
Market study shows that everybody wants money to keep in pocket but the
bunch of money is not safe for them. However, the plastic money is
comparatively safe and having highest value in terms of money. The demand
for plastic money has been increased through decades, which shows that the
people are going towards advancement.
In this project the great emphasis is given to the customers’ mindset
about the ICICI Bank credit card. It is found that ICICI Bank credit card is
much popular among the customers because of its variety of credit cards. I
hope this project gives the best way for the ICICI Bank for increasing the
number of credit card customers in future. I have taken the maximum data
and best way of analysis to make my project valuable. The data analysis
part provides details of my findings which will provide more idea to the
ICICI Bank to keep going in the credit card business.
Morever,this project will give more idea about the different credit
cards introduced by the ICICI Bank. This project will also help the other
financial company to take a fresh look towards the credit cards.

vi

CONTENTS
Sl. No. Topics Page
No.
1. Corporate Guide Certificate ii
2. Faculty Guide Certificate iii
3 Declaration iv
4. Acknowledgement v
5. Executive summary vi
6. Part I 1-2
On job training
7. Part II 3-55
Market Research
8 Chapter 1 3-43
Introduction & Review of Literature
9. Chapter 2 44-45
Objectives,Scope & Limitation of the study
10. Chapter 3 46
Methodology of Study
11. Chapter 4 47-53
Result and Interpretations
12. Chapter 5 54-55
Findings, Conclusion &
Recommendations
13. Bibliography 56
14. Appendix 57
vii
LIST OF TABLES

Table No. Title Page No.


1. Monthly fuel spends at HPCL outlets 39
2. Monthly fuel spends at HPCL outlets 40
3 % of sex ratio among customers 47
4. Qualification of customers 48
5. Age of customers 49
6. Occupation of customers 50
7. Monthly Income of customers 50
8 Account holder of any bank 51 viii
9. Grade of credit cards service by ICICI Bank 52
10. % of people having credit cards 53
LIST OF FIGURES

Figure No. Title Page No.


1. ICICI group 5
2. % of sex ratio among customers 47
3 Qualification of customers 48
4. Age of customers 49
5. Occupation of customers 49
6. Monthly Income of customers 50
7. Account holder of any bank 51
8 Grade of credit cards service by ICICI Bank 52
9. % of people having credit cards 53

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PART-I
On Job Training (OJT)

First week
In the first week I and one of my friend (since we were only two in Cuttack ICICI
credit cards division ) were trained by our corporate guide . On the very first day itself,
he made us feel very comfortable and introduced to us every staffs and employees
working there..He trained us and told us every thing about the ICICI bank credit card,
even its best lucrative part and its drawbacks which give us a perception that if person
used it in better way within its limitations and rule and regulations then it help in lots of
way.In the second day only we went to the market and were supposed to know the
mindset of the customers those want to buy credit card or those who don’t want to buy. In
our first week we find that there are lots of people who still want to know something
about the ICICI bank credit card and its benefits, but still there are lots of people who
don’t want to listen anything about the ICICI bank credit card these are those people
who faced some problem while using the credit card. Even though we were not set any
target, but we were asked to collect as much as leads as possible who would be
interested for ICICI bank credit cards and we were successful enough to create some
positive files out of it in the very first week itself.
Second week
In the second week, our corporate guide have set a target for us and we started
finding out the customers who want to buy ICICI bank credit card. Our corporate guide
wanted us to work freely to achieve the target so that we just come to know the thinking
of customers, what they expect from a ICICI bank credit card regarding its facilities and
services. We just try to convince them to buy credit card. We have work to make aware
about the credit card facilities of ICICI bank, the types of credit card they have launched
in the market. People have made some bad remarks about the ICICI bank credit card
relating its hidden charges and bad service. We have taken it as a challenge and make
people aware about their all types of queries.But , we also met with some people who
were much satisfied with ICICI bank credit cards.
Third and fourth week
During these weeks we had some target and started making corporate contacts as we
knew that it was the best option for selling of credit cards. convincing customers
according to there expectations. We start talking those person having good corporate
contacts, not only that while convincing customers if we get anyone visiting cards then
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we took it seriously and started making calls to that customers. Accordingly we visited
many customers and started showing them the best and lucrative area from where they
can easily get attracted. And thus we were successful in closing some files. We also got
many references from those customers and thus started making calls them too and got
some more customers.
Fifth week
We have fixed us with some areas like Food bazaar , Vishal garments, ICICI bank
ATM’s which is the best area for selling of credit cards as these area had a very good
response. We visited some government firms like Door sanchar, Central Rice research
institute (CRRI), some educational institutes like Revenshaw University, IPSAR, ABIT
where there was a lot of negative impacts about credit cards. .Many people said they
were happy with debit cards but not credit cards.We started making an attempt to change
their mindset and also were successful to some extent.
Sixth and Seventh week
During these weeks we have given for the corporate visiting. We start visiting many
private. firms like, Bharti AXA, Max New York life insurance, ICICI Bank, ICICI
Prudential, Aarti steels, TATA AIG, Bajaz Allianz, HDFC Bank, KARVI, India Bulls,
NAVA Advertisers etc.These firms are best in there area, and we got a good response
from these companies.Along with making these people apply for ICICI bank credit cards
we also made them fill our questionnaires successfully. We have collected lots of
customers contacts of well established people like doctor’s and other government
employees from the employees of these companies
Eighth week
During this weeks we made an attempt to close some of the pending files.We also
visited some of the private firms and got a good response. Our corporate guide and some
of the staffs of Cuttack ICICI Credit cards division helped us in making our summer
project successfully and gave their valuable advise and suggestions. Even we were given
a surprise grand party in the last day of the week. for our successful completion of our
summer internship project

2
PART-II
Market Research
Chapter 1
Introduction & Review of Literature

INTRODUCTION TO ICICI BANK


ICICI Bank (Industrial Credit and Investment Corporation of India) is India's
largest private sector bank in market capitalization and second largest overall in terms
of assets. ICICI Bank has total assets of about USD 79 Billion (end-Dec 2007), a
network of over 955 branches and offices, about 3687 ATMs, and over 24 million
customers at the end of 31st December 2007.ICICI Bank offers a wide range of banking
products and financial services to corporate and retail customers through a variety of
delivery channels and through its specialised subsidiaries and affiliates in the areas of
investment banking, life and non-life insurance, venture capital and asset management.
ICICI Bank's equity shares are listed in India on stock exchanges at Kolkata and
Vadodara, the Stock Exchange, Mumbai and the National Stock Exchange of India
Limited and its ADRs are listed on the New York Stock Exchange (NYSE).
The World Bank, the Government of India and representatives of Indian industry
formed ICICI Limited as a development finance institution to provide medium-term and
long-term project financing to Indian businesses in 1955.
A BRIEF HISTORY OF ICICI BANK
• 1994 ICICI establishes ICICI Banking Corporation as a banking subsidiary.
ICICI Banking Corporation is renamed as 'ICICI Bank Limited'
• 1999 ICICI becomes the first Indian company and the first bank or financial
institution from non-Japan Asia to list on the NYSE.
• 2001 ICICI acquired Bank of Madura (est. 1943). Bank of Madura was a
Chettiar bank, and had acquired Chettinad Mercantile Bank (est. 1933) and
Illanji Bank (established 1904) in the 1960s.
• 2002 The Boards of Directors of ICICI and ICICI Bank approve the merger of
ICICI, ICICI Personal Financial Services Limited and ICICI Capital Services
Limited, with ICICI Bank. After receiving all necessary regulatory approvals,
ICICI integrates the group's financing and banking operations, both wholesale
and retail, into a single entity Also, ICICI Bank bought the Shimla and
Darjeeling branches that Standard Chartered Bank had inherited when it
acquired Grindlays Bank.
• 2002 ICICI establishes representative offices in NY and London.
3
• 2003 ICICI opens subsidiaries in Canada and the United Kingdom (UK), and in
the UK it establishes alliance with Lloyds TSB. It also opens an Offshore Banking
Unit (OBU) in Singapore and representative offices in Dubai and Shanghai.
• 2004 ICICI opens a rep office in Bangladesh to tap the extensive trade between
that country, India and South Africa.
• 2005 ICICI acquires Investitsionno-Kreditny Bank (IKB), a Russia bank with
about US$4mn in assets, head office in Balabanovo in the Kaluga region, and
with a branch in Moscow. ICICI renames the bank ICICI Bank Eurasia. ICICI
Bank offers a high-interest (5.4% gross) internet savings account to UK
customers. Also, ICICI establishes a branch in Dubai International Financial
Centre and in Hong Kong.
• 2006 ICICI Bank UK opens a branch in Antwerp, in Belgium. ICICI opens
representative offices in Bangkok, Jakarta, and Kuala Lumpur.
• 2007 ICICI amalgamates Sangli Bank, which is headquartered in Sangli, in
Maharashtra State, and which has 158 branches in Maharashtra and another 31
in Karnataka State. ICICI also received permission from the government of Qatar
to open a branch in Doha and from the US Federal Reserve to open a branch in
New York. ICICI Bank Eurasia opens a second branch, this time in St.
Petersburg.
• 2008 ICICI Bank launches iMobile, a comprehensive Mobile banking solution.
iMobile is considered to be a breakthrough innovation in Indian Banking which
allows a customer to do all possible transactions through a GPRS-enabled
mobile phone.
OVERVIEW OF ICICI BANK
The Government of India established ICICI in 1955 as a Financial Institution (FI,
other such institutions were IDBI and SIDBI) with the objective to finance large
industrial projects. ICICI was not a bank - it could not take retail deposits - and nor was
it required to comply with Indian banking requirements for liquid reserves. ICICI
borrowed funds from many multilateral agencies (such as the World Bank), often at
concessional rates. It used these to make large corporate loans.
All this changed in 1990s. ICICI founded a separate legal entity, ICICI Bank, to
undertake normal banking operations - taking deposits, credit cards, car loans etc. The
experiment was so successful that ICICI merged into ICICI Bank in a "reverse merger"
in 2002.At the time of the reverse merger,
there were rumours that ICICI had a large proportions of Non Performing Loans
("NPA", as they are known in India) on its books - in particular to the steel industry.
Since 2002, there has been a general revival in Indian industry (and metal based
industry in particular).
ICICI Bank now is the largest among all banks in retail or consumer financing.
ICICI Bank is the largest issuer of credit cards in India . It was the first bank to offer a
wide network of ATM's and has a large network of ATM's.ICICI Bank also has the
largest market value of all banks in India, and is widely seen as a sophisticated bank
able to take on many global banks in the Indian market.
The Bank is expanding in overseas markets and has the largest international
balance sheet among Indian banks. The international banking business was set up in
4
2002 to implement a focussed strategy for the overseas market. The Bank now has
wholly-owned subsidiaries, branches and representatives offices in 18 countries,
including an offshore unit in Mumbai. This includes wholly owned subsidiaries in UK,
Canada and Russia, offshore banking units in Singapore and Bahrain; advisory branch
in Dubai, branches in Sri Lanka, Hong Kong and Belgium; and rep offices in the US,
China, United Arab Emirates, Bangladesh, South Africa, Indonesia, Thailand and
Malaysia. The bank is targeting the NRI (Non Resident Indian) population for expanding
its business.
ICICI Bank has been endorsed by Amitabh Bachchan and Shahrukh Khan. The
Cheques presented to winners in the first 2 versions of the famous game show - Kaun
Banega crorepati were ICICI Bank cheques. ICICI Bank reported marked-to-market loss
of $264 million as of January 31, 2008 following USA subprime mortgage crisis.

Subsidiaries and Group Companies of ICICI Bank:


ICICI bank has 16 subsidiaries in the areas such as life insurance, general
insurance, investment banking, asset management, venture funds, home finance,
brokerage services, etc. Profiles of some of the major subsidiaries are enumerated
below:.

ICICI Bank
ICICI Home
ICICI Infotech
Finance

ICICI Pru Life Pru - ICICI


Insurance AMC

ICICI ICICI Venture


Securities Capital
ICICI Lombard

Source:www.icicibank.com
Fig 1. ICICI Group
1. ICICI Securities Limited
ICICI Securities continued to enhance its position in the investment banking and equity
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broking businesses while capitalising on opportunities in the fixed income market. ICICI
Securities achieved a profit after tax of Rs.1.6bn in fiscal 2006 compared to Rs.0.64bn in
fiscal 2005
2. ICICI Lombard General Insurance Company.
ICICI Lombard General Insurance Company (ICICI Lombard) enhanced its
leadership position among private sector general insurance companies with a market
share of around 36% in the private sector as of Dec 06.
3. Prudential ICICI Asset Management Company.
Prudential ICICI Asset Management Company (Prudential ICICI AMC) is one of the
largest mutual funds in India with assets under management of Rs333.5bn as on Dec 31,
2006.
4. ICICI Prudential Life Insurance Company.
ICICI Prudential Life Insurance Company (ICICI Prudential Life) continued to
maintain its market leadership among private sector life insurance companies with a
retail market share of 30% in the private sector as of Dec 06
5. ICICI Venture Funds Management Company Limited.
ICICI Venture Funds Management Company Limited (ICICI Venture) raised two funds
and strengthened its leadership position in private equity in India, with funds under
management of over Rs.63bn. ICICI Venture achieved a profit after tax of Rs.0.50bn in
fiscal 2006compared to Rs.0.32bn in fiscal 2005.

Mission of the Bank


• Customer Service and Product Innovation tuned to diverse needs of Individual
and corporate clientele.
• Progressive globalization and achieving international standards.
• Continuous technology up gradation while maintaining human values.
• Efficiency and effectiveness built on ethical practices.
• ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the
National Stock Exchange of India Limited and its American Depositary Receipts
(ADRs) are listed on the New York Stock Exchange (NYSE).

Outlook and Future prospects of ICICI Bank:


ICICI Bank dominates the Indian .financial sector with its aggressive growth
overtures.ICICI Bank commands 25% share of the total retail assets outstanding in India
(33% in fresh disbursements), against 17% for SBI. After its success in retail .financing,
the bank is eyeing overseas expansion and rural banking to leverage the huge growth
opportunities unfolding in these areas. Recent decision of RBI to allow ICICI bank to
open new branches would help bank to maintain its growth momentum and increase its
rural reach. This would help the bank to penetrate the market further and reach non
banked rural people.
Apart from the Indian operations, the bank is eyeing the international markets.
The vision of the bank is to play a significant role in facilitating trade by providing home
and host country links to the domestic companies having business relations in the region
and enable the bank to increase its participation in India’s trade transactions in the
region.
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The bank is planning to expand its international operations to 25% of its total business
in the next three years. With the bank targeting an overall growth of 30% per annum, its
overseas business will have to triple from its current level to reach 25%. Unlocking of
value in it major subsidiaries will be a trigger for the stock in the next 12- 18 months.

ABOUT THE CREDIT CARDS


A 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 cards, the
issuer lends money to the consumer (or the user) to be paid to the merchant. It is also
different from a charge card (though this name is sometimes used by the public to
describe credit cards), which requires the balance to be paid in full each month. In
contrast, a credit card allows the consumer to 'revolve' their balance, at the cost of
having interest charged.

HISTORY OF CREDIT CARDS


The credit card was the successor of a variety of merchant credit schemes. It was
first used in the 1920s, in the United States, specifically to sell fuel to a growing number
of automobile owners. In 1938 several companies started to accept each other's cards.
The concept of using a card for purchases 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.The concept of paying merchants using a card was
invented in 1950 by Ralph Schneider and Frank X. McNamara in order to consolidate
multiple cards. The Diners Club, which was created partially through a merger with
Dine and Sign, 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 and Carte Blanche. Western Union had begun issuing charge cards
to its frequent customers in 1914.
Bank of America created the BankAmericard in 1958, a product which eventually
evolved into the Visa system ("Chargex" also became Visa). MasterCard came to being
in 1966 when a group of credit-issuing banks established MasterCharge. The fractured
nature of the US banking system meant that credit cards became an effective way for
those who were travelling around the country to move their credit to places where they
could not directly use their banking facilities. In 1966 Barclaycard in the UK launched
the first credit card outside of the US.
In contrast, although having reached very high adoption levels in the US, Canada
and the UK, it is important to note that many cultures were much more cash-oriented in
the latter half of the twentieth century, or had developed alternative forms of cash-less
payments, like Carte bleue, or the EC-card (Germany, France, Switzerland, among many
others). In these places, the take-up of credit cards was initially much slower. It took
until the 1990s to reach anything like the percentage market-penetration levels achieved
in the US, Canada or UK. In many countries acceptance still remains poor as the use of
a credit card system depends on the banking system being perceived as reliable. In
contrast, because of the legislative framework surrounding banking system overdrafts,
some countries, France in particular, were much faster to develop and adopt chip-based
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credit cards which are now seen as major anti-fraud credit devices.
The credit card market in India has started out in 1981, is on the verge of an
unprecedented boom. Between 1987 and 2000, the market has virtually grown to over 3.8
million cards with almost 25-30 per cent growth in new card-holders.The card industry,
which is growing at the rate of 20 per cent per annum is flooded with cards ranging from
gold, silver, global, smart to secure…the list is endless. From just two payments in the
early ‘80s, the industry now houses over 10 major players vying for a major chunk of the
card pie.

SHAPE,SIZE AND DESIGN


The design of the credit card itself has become a major selling point in recent years.
The value of the card to the issuer being related to the Customer's usage of the card. This
has led to the rise of Co-Brand and Affinity cards - where the card design is related to
the "affinity" leading to higher card usage. In most cases a percentage of the value of
the card is returned to the affinity group.Most credit cards are the same shape and size,
as specified by the ISO 7810 standard. The most common credit card size, known as ID-
1, is 85.60 × 53.98 mm.
The front of a typical credit card has:
• Issuing bank logo
• EMV chip
• Hologram
• Credit card number
• Card brand logo
• Expiry Date
• Cardholder's name
The reverse side of a typical credit card has:
• Magnetic Stripe
• Signature Strip
• Card Security Code

HOW CREDIT CARDS WORKS ?


A user is issued credit after an account has been approved by the credit provider,
and is given a credit card, with which the user will be able to make purchases from
merchants accepting that credit card up to a pre-established credit limit. Often a general
bank issues the credit, but sometimes a captive bank created to issue a particular brand
of credit card, such as Chase, Wells Fargo or Bank of America, issues the credit.
When a purchase is made, the credit card user agrees to pay the card issuer. The
cardholder indicates his/her consent to pay, by signing a receipt with a record of the
card details and indicating the amount to be paid or by entering a Personal identification
number (PIN). Also, many merchants now accept verbal authorizations via telephone
and electronic authorization using the Internet, known as a 'Card/Cardholder Not
Present' (CNP) transaction. Electronic verification systems allow merchants to verify
that the card is valid and the credit card customer has sufficient credit to cover the
purchase in a few seconds, allowing the verification to happen at time of purchase. The
verification is
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performed using a credit card payment terminal or Point of Sale (POS) system with a
communications link to the merchant's acquiring bank. Data from the card is obtained
from a magnetic stripe or chip on the card; the latter system is in the United Kingdom
commonly known as Chip and PIN, but is more technically an EMV card.
Other variations of verification systems are used by eCommerce merchants to
determine if the user's account is valid and able to accept the charge. These will typically
involve the cardholder providing additional information, such as the security code
printed on the back of the card, or the address of the cardholder.
Each month, the credit card user is sent a statement indicating the purchases
undertaken with the card, any outstanding fees, and the total amount owed. After
receiving the statement, the cardholder may dispute any charges that he or she thinks are
incorrect. Otherwise, the cardholder must pay a defined minimum proportion of the bill
by a due date, or may choose to pay a higher amount up to the entire amount owed. The
credit provider charges interest on the amount owed (typically at a much higher rate
than most other forms of debt). Some financial institutions can arrange for automatic
payments to be deducted from the user's bank accounts, thus avoiding late payment
altogether as long as the cardholder has sufficient funds. Credit card issuers usually
waive interest charges if the balance is paid in full each month, but typically will charge
full interest on the entire outstanding balance from the date of each purchase if the total
balance is not paid.
Financial institutions refer to interest charged back to the original time of the
transaction and up to the time a payment was made, if not in full, as RRFC or residual
retail finance charge. Thus after an amount has revolved and a payment has been made
that the user of the card will still receive interest charges on their statement after paying
the next statement in full (in fact the statement may only have a charge for interest that
collected up until the date the full balance was paid...i.e. when the balance stopped
revolving).
The credit card may simply serve as a form of revolving credit, or it may become a
complicated financial instrument with multiple balance segments each at a different
interest rate, possibly with a single umbrella credit limit, or with separate credit limits
applicable to the various balance segments. Usually this compartmentalization is the
result of special incentive offers from the issuing bank, either to encourage balance
transfers from cards of other issuers, or to encourage more spending on the part of the
customer. In the event that several interest rates apply to various balance segments,
payment allocation is generally at the discretion of the issuing bank, and payments will
therefore usually be allocated towards the lowest rate balances until paid in full before
any money is paid towards higher rate balances. Interest rates can vary considerably
from card to card, and the interest rate on a particular card may jump dramatically if the
card user is late with a payment on that card or any other credit instrument, or even if
the issuing bank decides to raise its revenue. As the rates and terms vary, services have
been set up allowing users to calculate savings available by switching cards, which can
be considerable if there is a large outstanding balance .
Because of intense competition in the credit card industry, credit providers often
offer incentives such as frequent flyer points, gift certificates, or cash back (typically up
to 1 percent based on total purchases) to try to attract customers to their program.Low
9
interest credit cards or even 0% interest credit cards are available. The only downside to
consumers is that the period of low interest credit cards is limited to a fixed term, usually
between 6 and 12 months after which a higher rate is charged. However, services are
available which alert credit card holders when their low interest period is due to expire.
Most such services charge a monthly or annual fee.
Grace period
A credit card's grace period is the time the customer has to pay the balance
before interest is charged to the balance. Grace periods vary, but usually range from 20
to 30 days depending on the type of credit card and the issuing bank. Some policies allow
for reinstatement after certain conditions are met. Usually, if a customer is late paying
the balance, finance charges will be calculated and the grace period does not apply.
Finance charge(s) incurred depends on the grace period and balance, with most credit
cards there is no grace period if there's any outstanding balance from the previous
billing cycle or statement (i.e. interest is applied on both the previous balance and new
transactions). However, there are some credit cards that will only apply finance charge
on the previous or old balance, excluding new transactions.
Parties involved :-
Cardholder: The owner of the card used to make a purchase; the consumer.
Card-issuing bank: The financial institution or other organization that issued the credit
card to the cardholder. This bank bills the consumer for repayment and bears the risk
that the card is used fraudulently. American Express and Discover were previously the
only card-issuing banks for their respective brands, but as of 2007, this is no longer the
case.
Merchant: The individual or business accepting credit card payments for products or
services sold to the cardholder
Acquiring bank: The financial institution accepting payment for the products or services
on behalf of the merchant.
Independent sales organization: Resellers (to merchants) of the services of
the acquiring bank.
Merchant account: This could refer to the acquiring bank or the independent sales
organization, but in general is the organization that the merchant deals with.
Credit Card association: An association of card-issuing banks such as Visa,
MasterCard, Discover, American Express, etc. that set transaction terms for merchants,
card-issuing banks, and acquiring banks.
Transaction network: The system that implements the mechanics of the electronic
transactions. May be operated by an independent company, and one company may
operate multiple networks. Transaction processing networks include: Cardnet, Nabanco,
Omaha, Paymentech, NDC Atlanta, Nova, Vital, Concord EFSnet, and VisaNet.
Affinity partner: Some institutions lend their name to an issuer to attract customers that
have a strong relationship with that institution, and get paid a fee or a percentage of the
balance for each card issued using their name. Examples of typical affinity partners are
sports teams, universities and charities.
FEATURES OF CREDIT CARDS
As well as convenient, accessible credit, credit cards offer consumers an easy
way to track expenses, which is necessary for both monitoring personal expenditures and
10
the tracking of work-related expenses for taxation and reimbursement purposes. Credit
cards are accepted worldwide, and are available with a large variety of credit limits,
repayment arrangement, and other perks (such as rewards schemes in which points
earned by purchasing goods with the card can be redeemed for further goods and
services or credit card cashback).Some countries, such as the United States, the United
Kingdom, and France, limit the amount for which a consumer can be held liable due to
fraudulent transactions as a result of a consumer's credit card being lost or stolen.
Security Overview
Credit card security is based on privacy of the actual credit card number. This
means that whenever a person other than the card owner reads the number, security is
potentially compromised. Since this happens most of the time when a transaction is
made, security is low.A user with access to just the number can only make certain types
of transactions. Merchants will often accept credit card numbers without extra
verification for mail order, but then the delivery address will be recorded, so the thief
must make sure he can have the goods delivered to an anonymous address
(i.e. not his own) and collect them without being detected. Some merchants will accept a
credit card number for in-store purchases, whereupon access to the number allows easy
fraud, but many require the card itself to be present, and require a signature. Thus, a
stolen card can be cancelled, and if this is done quickly, no fraud can take place in this
way. For internet purchases, there is sometimes the same level of security as for mail
order (number only) hence requiring only that the fraudster take care about collecting
the goods, but often there are additional measures. The main one is to require a security
PIN with the card, which requires that the thief have access to the card.
An additional feature to secure the credit card transaction and prohibit the use of a
lost credit card is the MobiClear solution. Each transaction is authenticated through a
call to the user mobile phone. The transaction is released once the transaction has been
confirmed by the cardholder pushing his/her pincode during the call.The PCI DSS is the
security standard issued by The PCI SSC (Payment Card Industry Security Standards
Council). This data security standard is used by acquiring banks to impose cardholder
data securit measures upon their merchants.
Security Problems & Protection
A smart card, combining credit card and debit card properties. The 3 by 5 mm
security chip embedded in the card is shown enlarged in the inset. The gold contact pads
on the card enable electronic access to the chip.The low security of the credit card
system presents countless opportunities for fraud. This opportunity has created a huge
black market in stolen credit card numbers, which are generally used quickly before the
cards are reported stolen.
The goal of the credit card companies is not to eliminate fraud, but to "reduce it to
manageable levels", such that the total cost of both fraud and fraud prevention is
minimized. This implies that high-cost low-return fraud prevention measures will not be
used if their cost exceeds the potential gains from fraud reduction.
Most internet fraud is done through the use of stolen credit card information which is
obtained in many ways, the simplest being copying information from retailers, either
online or offline. Despite efforts to improve security for remote purchases using credit
cards, systems with security holes are usually the result of poor implementations of card
11
acquisition by merchants. For example, a website that uses SSL to encrypt card numbers
from a client may simply email the number from the
webserver to someone who manually processes the card details at a card terminal.
Naturally, anywhere card details become human-readable before being processed at the
acquiring bank, a security risk is created. However, many banks offer systems where
encrypted card details captured on a merchant's webserver can be sent directly to the
payment processor.
Controlled Payment Numbers are another option for protecting one's credit card
number: they are "alias" numbers linked to one's actual card number, generated as
needed, valid for a relatively short time, with a very low limit, and typically only valid
with a single merchant.
Three improvements to card security have been introduced to the more common
credit card networks but none has proven to help reduce credit card fraud so far. First,
the on-line verification system used by merchants is being enhanced to require a 4 digit
Personal Identification Number (PIN) known only to the card holder. Second, the cards
themselves are being replaced with similar-looking tamper-resistant smart cards which
are intended to make forgery more difficult. The majority of smartcard (IC card) based
credit cards comply with the EMV (Europay MasterCard Visa) standard. Third, an
additional 3 or 4 digit code is now present on the back of most cards, for use in "card not
present" transactions.
The way credit card owners pay off their balances has a tremendous effect on their
credit history. All the information is collected by credit bureaus. The credit information
stays on the credit report, depending on the jurisdiction and the situation, for 1, 2, 5, 7 or
even 10 years after the debt is repaid.
.
COSTS ASSOCIATED
Credit card issuers (banks) have several types of costs:
Interest expenses
Banks generally borrow the money they then lend to their customers. As they receive
very low-interest loans from other firms, they may borrow as much as their customers
require, while lending their capital to other borrowers at higher rates. If the card issuer
charges 15% on money lent to users, and it costs 5% to borrow the money to lend, and
the balance sits with the cardholder for a year, the issuer earns 10% on the loan. This
5% difference is the "interest expense" and the 10% is the "net interest spread".
Operating costs
This is the cost of running the credit card portfolio, including everything from
paying the executives who run the company to printing the plastics, to
mailing the statements, to running the computers that keep track of every cardholder's
balance, to taking the many phone calls which cardholders place to their issuer, to
protecting the customers from fraud rings.
Charge offs
When a consumer becomes severely delinquent on a debt (often at the point of six
months without payment), the creditor may declare the debt to be a charge-off. It will
then be listed as such on the debtor's credit bureau reports (Equifax, for instance, lists
"R9" in the "status" column to denote a charge-off.) It is one of the worst possible items
12
to have on your file. The item will include relevant dates, and the amount of the bad
debt.A charge-off is considered to be "written off as uncollectable." To banks, bad debts
and even fraud are simply part of the cost of doing business. However, the debt is still
legally valid, and the creditor can attempt to collect the full amount for the time periods
permitted under state law, which is usually 3 to 7 years. This includes contacts from
internal collections staff, or more likely, an outside collection agency.
Rewards
Many credit card customers receive rewards, such as frequent flier points, gift
certificates, 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, cash advances, or other special uses. Depending on the type of card, rewards
will generally cost the issuer between 0.25% and 2.0% of the spend. Networks like Visa
or MasterCard have increased their fees to allow issuers to fund their rewards system.
However, most rewards points are accrued as a liability on a company's balance sheet
and expensed at the time of reward redemption. As a result, some issuers discourage
redemption by forcing the cardholder to call customer service for rewards. On their
servicing website, redeeming awards is usually a feature that is very well hidden by the
issuers. Others encourage redemption for lower cost merchandise; instead of an airline
ticket, which is very expensive to an issuer, the cardholder may be encouraged to redeem
for a gift certificate instead. With a fractured and competitive environment, rewards
points cut dramatically into an issuer's bottom line, and rewards points and related
incentives must be carefully managed to ensure a profitable portfolio. There is a case to
be made that rewards not redeemed should follow the same path as gift cards that are
not used: in certain states the gift card breakage goes to the state's treasury. The same
could happen to the value of points or cash not redeemed.
Credit card fraud
Where a card is stolen, or an unauthorized duplicate made, most card issuers will
refund some or all of the charges that the customer has received
for things they did not 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. In several countries, merchants will lose the money if no ID card was asked for,
therefore merchants usually require ID card in these countries.
The cost of fraud is high; in the UK in 2004 it was over £500 million.Credit card
companies generally guarantee the merchant will be paid on legitimate transactions
regardless of whether the consumer pays their credit card bill."Soft fraud" is fraud
committed by the customer himself: getting a card and using it with no intention ever to
repay the balance. Such customers are called "diabolicals" by the credit card
companies; they try to avoid them at all cost.
Industry jargon for customer categories
Customers who do not pay in full the amount owed on their monthly statement (the
"balance") by the due date (that is, at the end of the "grace period") and are not in a
promotional period owe interest ("finance charges") are known in the industry as
"revolvers." Those who pay in full (pay the entire balance) are known in the industry as
"deadbeaters", "transactors," or "convenience users". Those that shift usage of their
credit cards or transfer balances frequently are known in the industry as "rate surfers".
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Interest on outstanding balances
Interest charges vary widely from card issuer to card issuer. Often, there are "teaser"
rates in effect for initial periods of time (as low as zero percent for, say, six months),
whereas regular rates can be as high as 40 percent. In the U.S. there is no federal limit
on the interest or late fees credit card issuers can charge; the interest rates are set by the
states, with some states, like South Dakota, having no ceiling on interest rates and fees,
inviting some banks to establish their credit card operations there. Other states, like
Delaware, have very weak usury laws. The teaser rate no longer applies if the customer
doesn't pay his bills on time, and is replaced by a penalty interest rate (for example,
24.99%) that applies retroactively. So customers should be wary of these offers, that
usually contain some traps. Cash withdrawals will never carry the teaser rate. Some
issuers will charge interest even if the balance was paid off in full by the due date. This
practice is called double cycle billing, and is becoming rare in the industry.
Fees charged to customers
The major fees are for:
• Late payments or overdue payments
• Charges that result in exceeding the credit limit on the card (whether done
deliberately or by mistake), called overlimit fees
• Returned cheque fees or payment processing fees (eg phone payment fee)
• Cash advances and convenience cheques (often 3% of the amount). Transactions
in a foreign currency (as much as 3% of the amount). A few financial institutions
do not charge a fee for this.
• Membership fees (annual or monthly), sometimes a percentage of the credit limit.
• Foreign Exchange Premium
• Neutral consumer resources
The Government of Canada maintains a database of the fees, features, interest rates
and reward programs of nearly 200 credit cards available in Canada. This database is
updated on a quarterly basis with information supplied by the credit card issuing
companies. Information in the database is published every quarter on the website of the
Financial Consumer Agency of Canada (FCAC).
Information in the database is published in two formats. It is available in PDF
comparison tables that break down the information according to type of credit card,
allowing the reader to compare the features of, for example, all the student credit cards
in the database.
The database also feeds into an interactive tool on the FCAC website. The
interactive tool uses several interview-type questions to build a profile of the user's credit
card usage habits and needs, eliminating unsuitable choices based on the profile, so that
the user is presented with a small number of credit cards and the ability to carry out
detailed comparisons of features, reward programs, interest rates, etc.
Controversy Associated
There is some controversy about credit card usage in recent years. Credit card debt
has soared, particularly among young people. Since the late 1990s, lawmakers,
consumer advocacy groups, college officials and other higher education affiliates have
become increasingly concerned about the rising use of credit cards among college
students. The
14
major credit card companies have been accused of targeting a younger audience, in
particular college students, many of whom are already in debt with college tuition fees
and college loans and who typically are less experienced at managing their own
finances. A recent study by United College Marketing Services has shown that student
credit lines have increased to over $6,000. Credit card usage has tripled since 2001
amongst teenagers as well. Since eighteen year olds in many countries and most U.S.
states are eligible for a card without parental consent or employment, the likelihood of
increased balances, unwise use of credit and damaged credit scores increases..
According to Larry Chiang of United College Marketing Services, an example of a
credit card class action was where issuers were "rolling back" posting times to extract
more late fees. The due dates were "rolled back" from 1pm to 10am because mail was
delivered in the afternoon so due dates were actually rolled back to charge more late
fees. The following banks are listed (with the amounts penalized) in this one particular
class action.
• Providian: US$405 million
• Bank One: US$40 million
• Chase: US$22.2 million
• Citibank: US$15.5 million
Another controversial area is the universal default feature of many North American
credit card contracts. When a cardholder is late paying a particular credit card issuer,
that card's interest rate can be raised, often considerably. Universal default allows
creditors to periodically check cardholders' credit portfolios to view trade, thus allowing
the institution to decrease the credit limit or increase rates on cardholders who may be
late with another credit card issuer. Being late on one credit card will potentially affect
all the cardholder's credit cards. Citibank voluntarily stopped this practice in March
2007 and Chase stopped the practice in November 2007.
Another controversial area is the trailing interest issue. Trailing interest is the
practice of charging interest on the entire bill no matter what percentage of it is paid.
U.S Senator Carl Levin raised the issue at a U.S Senate Hearing of millions of
Americans whom he said are slaves to hidden fees, compounding interest and cryptic
terms. Their woes were heard in a Senate Permanent Subcommittee on Investigations
hearing which was chaired by Senator Levin who said that he intends to keep the
spotlight on credit card companies and that legislative action may be necessary to purge
the industry.
Payment Allotment
Credit card companies typically apply your payment to a balance with a lower
interest rate before a balance with a higher interest rate. With this payment allocation, if
you have a balance from a transfer with an interest rate of 2% and a balance from point
of sale purchases with an interest rate of 8%, your payment will affect the purchase
balance only after the transfer balance has been paid in full.
Hidden costs
Merchants pay a negotiated fee -- typically 1-3% for larger merchants and 3-6% for
smaller merchants -- to process credit payments. They must also bear the cost of
providing a point-of-sale solution to enable the acceptance of card transactions and
other card services related expenses. Credit card issuers understand full well that if card
holders were aware of and made to pay these additional costs with their purchases it
15
would tend to discourage credit card usage. As a consequence, businesses who accept
credit cards often must sign a "merchant agreement" or contract with the acquirer that
stipulates that they are not allowed to offer different prices for card and non-card
transactions (sometimes referred to as surcharging) despite the additional costs to the
business for accepting the cards. The prohibition on surcharging or cash discounts is
enforced by law in some countries, although some governments are beginning to lift this
restriction.
Some critics have observed that this results in what is effectively a hidden expense on
all transactions conducted by merchants who accept credit cards since they must build
the cost of transaction fees into their overall business expense. Furthermore, cash and
other non-credit card using customers are in effect made to subsidize credit card user
purchases. The cost of the convenience and protections enjoyed by card holders and the
profits taken from transaction fees by the card industry (which has come to rely
increasingly on this revenue stream over the years) is in part borne by the non-card
purchaser. Critics further note that the customers most likely to pay in cash are probably
the least able to afford the additional expense, the argument going that card holders are
more likely to be affluent and non-card holders less so. In response, others point out that
credit cards can pay for themselves through an overall increase in sales, allowing the
business owner to retain his existing price structure and offsetting the hidden extra
expenses.One counterargument to the cash subsidization argument is that there are also
costs to the merchant in other forms of payment.
Redlining
Credit Card redlining is a spatially discriminatory practice among credit card
issuers of providing different amounts of credit to different areas, based on their ethnic-
minority composition, rather than on economic criteria, such as the potential
profitability of operating in those areas.
Credit card numbering
The numbers found on credit cards have a certain amount of internal structure, and
share a common numbering scheme.
The card number's prefix, called the Bank Identification Number, is the sequence of
digits at the beginning of the number that determine the bank to which a credit card
number belongs. This is the first six digits for MasterCard and Visa cards. The next nine
digits are the individual account number, and the final digit is a validity check code.In
addition to the main credit card number, credit cards also carry issue and expiration
dates (given to the nearest month), as well as extra codes such as issue numbers and
security codes. Not all credit cards have the same sets of extra codes nor do they use the
same number of digits.
Credit cards in ATMs
Many credit cards can also be used in an ATM to withdraw money against the credit
limit extended to the card but many card issuers charge interest on cash advances before
they do so on purchases. The interest on cash advances is commonly charged from the
date the withdrawal is made, rather than the monthly billing date. Many card issuers levy
a commission for cash withdrawals, even if the ATM belongs to the same bank as the
card issuer. Merchants do not offer cashback on credit card transactions because they
would pay a percentage commission of the additional cash amount to their bank or
16
merchant services provider, thereby making it uneconomical.
Many credit card companies will also, when applying payments to a card, do so at
the end of a billing cycle, and apply those payments to everything before cash advances.
For this reason, many consumers have large cash balances, which have no grace period
and incur interest at a rate that is (usually) higher than the purchase rate, and will carry
those balance for years, even if they pay off their statement balance each month.
Credit cards as funding for entrepreneurs
Credit cards are a creative, yet often risky way for entrepreneurs to acquire capital
for their start ups when more conventional financing is unavailable. It is rumoured that
Larry Page and Sergey Brin's start up of Google was financed by credit cards to buy the
necessary computers and office equipment, more specifically "a terabyte of memory".
Similarly, filmmaker Robert Townsend financed part of Hollywood Shuffle using credit
cards. Director Kevin Smith funded Clerks in part by maxing out several credit cards.
Richard Hatch also financed his production of Battlestar Galactica: The Second Coming
partly through his credit cards. Famed hedge fund manager Bruce Kovner began his
career (and, later on, his firm Caxton Associates) in financial markets by borrowing
from his credit card.
Collectible credit cards
A growing field of numismatics (study of money), or more specifically exonumia
(study of money-like objects), credit card collectors seek to collect various embodiments
of credit from the now familiar plastic cards to older
paper merchant cards, and even metal tokens that were accepted as merchant credit
cards. Early credit cards were made of celluloid, then metal and fiber, then paper and
are now mostly plastic.

VARIETY OF ICICI BANK CREDIT CARDS


FEATURES AND BENEFITS
Premium Cards
• ICICI Bank Ascent American Express® Card
• ICICI Bank Signature Credit Card
• ICICI Bank Platinum Credit Card
• ICICI Bank Platinum Premiere Credit Card
• ICICI Bank – Titanium Credit Card
• ICICI Bank – Thomas Cook Titanium Credit Card
• ICICI Bank Solid Gold Credit Card
• ICICI BANK - American Express® Gold Credit Card
• ICICI BANK Travel Smart Gold Credit Card
• ICICI BANK Golf Card

Co Branded Cards
• ICICI Bank - Future Credit Card
• ICICI Bank - Forum Credit Card
• ICICI Bank - Gitanjali Credit Card
17
• ICICI Bank - Megamart Credit Card
• ICICI Bank - XBOX 360 Credit Card
• ICICI Bank - Sarovar Hotels Credit Card
• ICICI Bank - HPCL Silver Credit Card
• ICICI Bank - HPCL Gold Credit Card
• ICICI PRU life Credit Card
• ICICI Bank - BPL Mobile Credit Card
• ICICI Bank - AMWAY Credit Card
• ICICI Bank Big Bazaar Silver Credit Card
• ICICI Bank Big Bazaar Gold Credit Card
• ICICI Bank - Trinethra Credit Card
• ICICI Bank – Orchid An Ecotel Credit Card
• ICICI Bank - Mohun Bagan Credit Card
• ICICI Bank - Ebony Credit Card
• ICICI Bank Airtel Silver Credit Card
• ICICI Bank Airtel Gold Credit Card
• Punjab & Sind ICICI Bank Silver Card
• Punjab & Sind ICICI Bank Gold Card
• Punjab & Sind ICICI Bank Blue Card
• Federal Bank - ICICI Bank Silver Card
• Federal Bank - ICICI Bank Gold Card
• Spice Punjab co branded card
• CESC Co-branded card
• DhirajSons Co-branded card
• Air Deccan Gold card
• Central Gold Credit Card
• ICICI Bank Bajaj Capital Credit Card
• ICICI Bank King Fisher Airlines Credit Card
• Big Bazaar Shakti Credit Card
• ICICI Bank - Indiatimes Credit Card
• ICICI Bank - Toyota Credit Card

Premium Credit Cards.


The Premium Credit Cards from ICICI Bank brings the benefits of owning an
exclusive Credit Card for convenience and usage. These Cards include special deals to
complement your lifestyle. We have Super Gold Credit Cards and Platinum Credit Cards
along with Travel Cards for Airmiles, the best holiday packages and air tickets. Our
special Golf Credit Card gets you a free membership of the Indian Golf Union along with
special Golfing benefits.

18
Premium Cards: Features at a Glance

ICICI Bank Ascent American Express® Card

Features
• Earn 6 reward points on every Rs 100 spent on dining, shopping at leading
departmental stores, air tickets booked through airline offices
and websites, and overseas expenditure
• Earn 6 reward points on every Rs 100 spent at Taj Hotels Resorts and Palaces,
Provogue and Yatra.com. All other transactions, except fuel transactions, earn
you 3 reward points per Rs 100 spent
• Taj Hotels Resorts and Palaces - Enhanced privileges and savings on room stays
• Yatra.com - 1.5x Yatra Miles on your travel bookings and exclusive quarterly
offers
• Provogue - Year long 10% discount at exclusive Provogue Studios
• American Express Selects bringing global and local privileges and savings in
travel, leisure, dining and shopping. i-Assist, your personal round-the-clock
lifestyle concierge service to assist you whenever you need help. Fuel Surcharge
Waiver across all petrol pumps.
• Air-accident insurance of up to Rs 1 crore.
• As a way of saying welcome aboard' you get to choose one of the following
privileges:
1. Shopping vouchers worth Rs 7,000 from Provogue
2. Exclusive Privileges from Taj Hotels Resorts and Palaces
3. Travel and Hotel Vouchers worth Rs 10,000 from Yatra.com
4. 7,000 reward points from ICICI Bank Hand-Picked Rewards
ICICI Bank Signature Credit Card
Features
• A powerful rewards program: 5 points on every international spend of Rs.100, 4
points on every travel-related spend of Rs.100 and 2 points on every hotel-and
dining-related spend of Rs.100.
19
• Air accident insurance of up to Rs 3 crore. Special travel-related experiential
offers, from flying a fighter jet to watching the Emperor Penguins in Antarctica.
Exclusive ' welcome' privilege.
• Priority access to the world's exclusive airport lounges. Fuel-surcharge waiver
across all petrol pumps
• I-Assist, 24x7 personal concierge services, offering a host of benefits.
• A special customer service desk
ICICI Bank Platinum Credit Card

Features
• Priority access to the world's exclusive airport lounges.
• An exclusive Rewards Program and one of a kind redemption offer
• High credit limit and cash limit
• APR of 2.75% monthly w.e.f March 1st, 2008
• Air accident insurance of up to Rs 1 crore. I-Assist, 24x7 personal concierge
services, offering a host of benefits. A specialized customer service desk
• The ICICI Bank Platinum Credit Card is currently offered only by invitation.
ICICI Bank Platinum Premiere Credit Card

Features
• Personalized concierge Services like car rental, hotel referral and reservation,
restaurant referral and reservation
• APR of 3.15% monthly w..e.f March 1st,2008
• Air accident insurance of up to Rs 40 lakhs. Fuel- surcharge waiver across all
petrol pumps
• Fuel-purchase transactions on the card will not earn reward points from
December 15, 2007
• Reward point on every Rs 100 spend
• High credit and cash limit
• I-Assist, 24x7 personal concierge services, offering a host of benefits.

20
ICICI Bank – Titanium Credit Card

Features
• Freedom from Fuel surcharge, across all petrol pumps, anywhere in the country
• Relax in luxury, at Oberoi lounges across various international and domestic
airports in India
• More rewards for retail spends outside India, 10 reward points for every Rs 200
• Higher reward points for retail spends in India, 2 reward points per Rs 200
• 10% discount at Flamingo Duty Free shops at various international airports in
India
• Up to 25% discount at major restaurants in top 6 cities (Mumbai, Delhi, Chennai,
Kolkata, Bangalore, Hyderabad)
• International Lifestyle offers
ICICI Bank – Thomas Cook Titanium Credit Card

Features
• Freedom from Fuel surcharge, across all petrol pumps, anywhere in the country
• A Free Holiday Voucher worth Rs 5000 valid for any Thomas Cook Group
holiday.
• Relax in luxury, at Oberoi Clipper Lounges across various international and
domestic airports in India
• Earn double reward points – 2 points for every Rs 200 spent.
• 6 reward points for every Rs 100 spent at Thomas Cook outlets and at all outlets
outside India.
• 5% discount on domestic airline tickets booked through Thomas Cook
• 3.5% discount on international airline tickets booked through Thomas Cook
• 10% discount at Flemingo Duty Free shops at various international airports in
India.
• Enjoy exclusive access to 15 premier Golf courses in the country. Get upto 50%
discount on green fees.

21
ICICI Bank- Solid Gold Credit Card

*Most Powerful Global Card


Benefits
• Welcomed internationally at over 22 million merchant establishments.
• High credit limit and cash limits.
• Dial-a-Draft at 2.5% of the draft amount subject to a minimum of Rs.300.
• Lifetime Balance Transfer offer: 0.75% for first 6 months (9% p.a.), followed by
1.49%p.m. (17.88% p.a.) thereafter.
• Most powerful catalogue-based Rewards Program.
• Mobile alerts and statement by e-mail
ICICI Bank Gold American Express® Card

Features
• The card that rewards you more. Everything that you spend on the card earns you
I-miles which you can redeem towards free air tickets or holidays that befits your
discerning lifestyle.
Superlative Benefits
• 5 I-miles for every Rs. 100 spent on the card, which you can redeem for a range
of exciting rewards such as air-tickets, holidays, shopping vouchers, electronics
and more
• Redeem your I-miles for air miles on Singapore Airlines Kris Flyer program. Or
redeem your I-miles into gift vouchers, electronics or even holidays.
• No expiry dates for your I-miles earned
• Discount of 3% on basic airfares and 5% on holiday packages from
makemytrip.com
• An exciting selection of year-round privileges and savings in travel, leisure,
dining and shopping in key destinations around the world with American Express
Selects.
• Access over 2,200 American Express Travel Services Office locations* in over
130 countries worldwide for assistance in travel bookings and arrangements,
purchase or encashment of travellers cheques, or simply to access cash.

22
• Life time Free – Your ICICI Bank American Express card comes with no annual
fee for life
• Free add-on card
• 0% balance transfer offers for 90 days
• Round the clock customer service hotline
• I-Assist, 24x7 personal concierge services, offering a host of benefits.
ICICI BANK Travel Smart Gold Credit Card

• Most Powerful Travel Card – A card that gives the best deals on air travel and
holiday packages, 24x7
• Exclusive Benefits
• 10% cash back on basic fare on any domestic and International airline ticket
booked through Makemytrip.com.The cashback is only in case of INR transaction
24x7 Personal Travel Desk for assistance in booking flights, hotels, holiday
packages
• Guaranteed 5% cash back on holiday packages booked through Makemytrip.com
• All the benefits of the ICICI Bank Solid Gold Card
• Fuel-surcharge waiver across all petrol pumps from December 15, 2007.
• Fuel-purchase transactions on the card will not earn reward points from
December 15, 2007
• I-Assist, 24x7 personal concierge services, offering a host of benefits. Air-
accident insurance of upto Rs 50 lac.
ICICI BANK Golf Card
A card specially designed for the discerning golfer
Exclusive Benefits
• Free annual membership of the Indian Golf union
• Access to over 160 golf courses across India
• Upto 25% discount on green fees
• Offers on International Luxury Golf Holiday Packages
• 10% discount on premium Golf equipment brands & also get 0% EMI offer at
select outlets.
• Special discount available on Golf line Magazine & Golf Digest
23
• 24x7 Golf Concierge Service for assistance on booking tee off times,
finding golf coaches and obtaining tickets to golfing events
• Invitation to tournaments held by the IGU
• All the benefits of the ICICI Bank Solid Gold Card
• Fuel- surcharge waiver across all petrol pumps.
• No reward points on fuel-purchase transactions
• Service tax applicable on fuel surcharge at the rate of 12.36%.

Co Branded Cards

Co Branded cards –Features at a glance


ICICI Bank - Forum Credit Card

Features
• 8 reward points for every Rs. 200 spent at Forum Card's partner outlets
• Rs. 250Gift voucher worth Rs.250 with the ‘Welcome’ kit
• Privileged parking
• Privileged ticketing at PVR
• Special offers from time to time
• Exclusive access to customer lounge.
ICICI Bank - Gitanjali Credit Card
Benefits of ICICI Bank – Gitanjali Credit Card
• Extra reward points - 8 reward points per Rs.200 spent at Gitanjali brand
outlets.
• Gift Voucher worth Rs.1000 given along with the card which is redeemable at
select Gitanjali brand outlets
• 5% discount on purchases between Rs.5, 000 and Rs.15, 000 and 7.5% discount
on purchases above Rs.15, 000 on diamond jewellery from select Gitanjali brand
outlets.
• 0% EMI for 3 and 6 months for purchases above Rs.5,000 at select Gitanjali
brand outlets
• Exclusive offers
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• All the regular features of an ICICI Bank Solid Gold Credit Card.
• The above discount and voucher offers are not applicable on: D.E.R, D'Damas
Solitaire, Gili , Gitanjali Gold and D'Damas Gold brands.
ICICI Bank - Megamart Credit Card

Benefits of ICICI Bank – Megamart Credit Card


• No finance charges on EMI purchases at Megamart. For a purchase of Rs.1,500
and above in a single transaction, you can pay back the amount in 3 equal
monthly instalments, without incurring any finance charges.
• Get a voucher worth Rs.200 to be redeemed against purchases of Rs.1,000 or
more at any Megamart outlet.
• 6 reward points for every Rs.200 spent at Megamart (except EMI purchase); 1
reward point for every Rs.200 spent on all non–Megamart purchases (To earn the
additional reward points at Megamart, you need to have your card swiped on an
ICICI Bank Electronic Data Capture (EDC) machine only)
• No charges for garment alteration.
• Exclusive offers
• Reward points can be converted into Megamart vouchers
• All the regular features of an ICICI Bank Solid Gold Credit Card.
ICICI Bank -XBOX 360 Credit Card
Benefits of ICICI Bank – XBOX 360 Credit Card
• Up to 40 % discount on select products of Microsoft and Xbox 360
• Fabulous offers on premium brands like Samsung, Planet M, Kodak, Espirit, Cox
& Kings and more
• 0% interest charges on XBOX 360.
ICICI Bank - Sarovar Hotels Credit Card

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Benefits of ICICI Bank – Sarovar Hotels Credit Card
Exclusive Features:
• Get a free night-stay voucher for a couple after spending Rs.10000/- at Sarovar
Hotels.
• 4 reward points for every Rs.100 spent at Sarovar Hotels.
• 30% discount on room tariffs
• Special discount of Rs.250 on spends of Rs.1000 and above on Food & Beverages
at any of the Sarovar restaurants.
• Up to 15% discount at Sarovar Restaurants as a regular discount.
ICICI PRU life Credit Card

Benefits of ICICI PRU life Credit Card


• HPCL fuel-surcharge waiver: 2.5% refund of surcharge on fuel purchase at
select HPCL pumps (applicable to maximum spend of Rs.2,500 per transaction)
• Tie-ups with hospitals and medical centres: Tie-ups with popular lifestyle brands:
Wide deals and discounts on an array of fashion brands and accessories.
• Attractive EMI schemes to pay insurance premiums: Pay insurance premiums in
6 months with interest rate of just 7%. (You would be billed EMIs from your next
monthly card statements)
• Earn reward points: Up to 10 reward points for every Rs. 200 spent through the
Xpress Rewards Programme. Also, over 100 redemption options covering an
array of lifestyle products and shopping needs.
ICICI Bank - BPL Mobile Credit Card

Benefits of ICICI Bank – BPL Mobile Credit Card


• Easy Pay Facility – Debit BPL Mobile bills on the Card.
• Earn reward points and redeem against free airtime.
• Free one year mobile phone insurance against loss, theft or damage.
• Free voice mail on BPL Mobile for the first six months of Card membership
(valid in Mumbai).
• Free National Roaming at no additional deposit (valid in Tamil Nadu excluding
Chennai, Pondicherry, Maharashtra excluding Mumbai.
• Dial-a-Draft at 2.5% of the draft amount subject to a minimum of Rs.300.
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• Lifetime Balance Transfer offer: 0.75% p.m. for the first 6 months (9% p.a.),
followed by 1.49% p.m. (17.88% p.a.) thereafter.
• Most powerful catalogue-based Rewards Programme.
• Comprehensive travel benefits.
• Accepted at over 22 million merchant establishments globally.
ICICI Bank - AMWAY Credit Card

Benefits of ICICI Bank – Amway Credit Card


• Double Reward Points :
• On Amway transaction of Rs.100 = 2 points
• On non-Amway transaction of Rs.200 = 1 point (25 points = 1 PV)
• Dial-a-Draft at 2.5% of the draft amount subject to a minimum of Rs.300
• Lifetime Balance Transfer offer: 0.75% p.m. for the first 6 months (9% p.a.),
followed by 1.49% p.m. (17.88% p.a.) thereafter
• Most powerful catalogue-based Rewards Programme
• Comprehensive travel benefits
• Accepted at over 22 million merchant establishments globally.
• Mobile alerts and statement by e-mail.
ICICI Bank Big Bazaar Silver Credit Card
The Most Powerful Retail Credit Card in India.
Benefits of ICICI Bank – Big Bazaar Silver Credit Card
• No finance charges on EMI purchases at Big Bazaar. On a purchase of Rs.1,500
and above in a single transaction, you can pay back the amount in 3 equal
monthly instalments, without incurring any finance charges. You also get 1
reward point per Rs. 100 of EMI purchase Voucher worth Rs.250 to be redeemed
against purchase of Rs.500 or more at any Big Bazaar outlet on payment through
the ICICI Bank –Big Bazaar Credit Card.*
• 4 reward points on every Rs.100 spent at Big Bazaar (except EMI purchase), 1
reward point for all non-Big-Bazaar purchases for every Rs.200 spent (To earn
the additional reward points at Big Bazaar please swipe your card on an ICICI
Bank EDC only.)
• Special payment counters
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• Priority entry during high traffic
• All the regular features of the ICICI Bank Sterling Silver Card and facilities of
Big Bazaar.
• Reward points can be converted into Big Bazaar vouchers.
• Other benefits available on your ICICI Bank -Big Bazaar Silver Credit Card
• Dial-a-Draft at 2.5% of the draft amount subject to a minimum of Rs.300
• Lifetime Balance Transfer offer: 0.75% p.m. for the first 6 months (9% p.a.),
followed by 1.49% p.m. (17.88% p.a.) thereafter
• Comprehensive travel benefits
• Accepted at over 22 million merchant establishments globally.
ICICI Bank Big Bazaar Gold Credit Card

The Most Powerful Retail Credit Card in India.


Exclusive privileges in ICICI Bank - Big Bazaar Gold Credit Card
• No Finance charges on EMI Purchases at Big Bazaar.On a purchase of Rs.1500
and above in a single transaction, you can pay back the amount in 3 equal
monthly installments, without incurring any financing charges. You also get 1
Reward Point per Rs 100 of EMI purchase (This scheme is optional and has to be
availed before using the Credit Card for the purchase, at predesignated ICICI
Bank terminals).To avail this offer please ask the merchant to convert your
purchase into EMI.
• Get Voucher worth Rs 250 to be redeemed against purchase of Rs.500 or more at
any Big Bazaar Outlet on payment through the ICICI Bank -Big Bazaar Credit
Card.*
• 6 reward points on every Rs. 100/- spent at Big Bazaar (Except EMI Purchase) 1
reward point for all non Big Bazaar purchases for every Rs.200 spent.
• Priority entry to Cardholders during high traffic.
• Exclusive offers for Cardholders from time to time.
• Regular features of ICICI Bank Sterling Silver Card and facilities of Big Bazaar.
• All Rewards points earned can be converted into Big Bazaar Vouchers.
• Other benefits available on your ICICI Bank -Big Bazaar Gold Credit Card
• Dial-a-Draft at 2.5% of the draft amount subject to a minimum of Rs.300
• Lifetime Balance Transfer offer: 0.75% p.m. for the first 6 months (9% p.a.),
followed by 1.49% p.m. (17.88% p.a.) thereafter.
• Comprehensive travel benefits

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ICICI Bank - Trinethra Credit Card

Benefits of ICICI Bank – Trinethra Credit Card


• 2 reward points for every Rs.100 spent at Trinethra and 1 reward point for every
Rs.200 spent at other merchant outlets (to earn the additional reward points at
Trinethra swipe your card only on an ICICI Bank EDC.)
• Complimentary gift on purchase of Rs.800
• Complimentary gift voucher of Rs.200 on membership.
• Express check-out counter
• All the benefits of the Sterling Silver Credit Card.
ICICI Bank – Orchid An Ecotel Credit Card
Benefits of ICICI Bank – Orchid An Ecotel Hotel Credit Card
• Exclusive discounts at all Kamat group hotels:
• 30% discount on room tariff
• 20% discount on Food & Beverages
• 30% discount on Health Club membership
• 0% EMI scheme for 6 months on transactions of value greater than Rs.10,000 at
any Kamat group hotel
• 22.5% discount on flower and gift delivery service
• All the benefits of the ICICI Bank Solid Gold Card.
ICICI Bank - Mohun Bagan Credit Card

Benefits of ICICI Bank – Mohun Bagan Credit Card


• Brought to you in association with the National Soccer Club of India.
• Opportunity to go to one important match of the Engish Premiership League.
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• Opportunity to play Mohun Bagan XI.
• Free 50 reward points whenever Mohun Bagan Club wins a championship.
• Exclusive discounts and offers on dining, shopping, lifestyle products and sport
accessories.
• All the benefits of the Sterling Silver Credit Card.
ICICI Bank - Ebony Credit Card

Benefits of ICICI Bank – Ebony Credit Card


• 6 reward points on every Rs.100 spent with the Ebony Card (except EMI
purchase); 1 reward point on every Rs.200 spent at all other merchant outlets
• Exclusive monthly offers
• Welcome gift voucher worth Rs. 250.
• The best of the picks at the preview of sales
• No finance charges on EMI purchases worth Rs.2,500 and reward points for
every Rs, 100 of the EMI.
• All the benefits of the Sterling Silver Credit Card.
ICICI Bank - Airtel Silver Credit Card

Benefits of ICICI Bank – Airtel Silver Credit Card


• 2 reward points for every Rs.100 of AirTel mobile bill, for payment through the
credit card
• 3 reward points for every Rs.100 of AirTel mobile bill, for payment through
Standing Instruction on the card.
• Redeem Reward points against HPCL vouchers Fuel surcharge waiver at HPCL
Petrol Pumps.
• 2 reward points for every Rs 125 spent at HPCL petrol pumps .
ICICI Bank - Airtel Gold Credit Card

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Benefits of ICICI Bank – Airtel Gold Credit Card
• 2 reward points for every Rs.100 of AirTel mobile bill, for payment through the
credit card
• 3 reward points for every Rs.100 of AirTel mobile bill, for payment through
Standing Instruction on the card
• Reward points against HPCL vouchers and ICICI Bank Xpress Rewards Booklet
• Fuel-surcharge waiver at HPCL petrol pumps.
• 2 reward points for every Rs 125 spent at HPCL Petrol Pumps
Punjab & Sind - ICICI Bank Silver Card
Benefits of Punjab & Sind – ICICI Bank Silver Card
• Dial-a-Draft at 2.5% of the draft amount subject to a minimum of Rs.300.
• Lifetime Balance Transfer offer: 0.75% p.m. for the first 6 months (9% p.a.),
followed by 1.49% p.m. (17.88% p.a.) thereafter.
• Most powerful catalogue-based Rewards Programme
• Comprehensive travel benefits.
• Accepted at over 22 million merchant establishments globally.
• Mobile Alerts and Statement by E-mail .
Punjab & Sind - ICICI Bank Gold Card

Benefits of Punjab & Sind – ICICI Bank Gold Card


• Welcomed internationally at over 22 million merchant establishments.
• High credit and cash limits.
• Dial-a-Draft at 2.5% of the draft amount subject to a minimum of Rs.300.
• Lifetime Balance Transfer offer: 0.75% p.m. for the first 6 months (9% p.a.),
followed by 1.49% p.m. (17.88% p.a.) thereafter
• Access to Global Customer Assistance Services
• Purchase protection of Rs.40,000.
• Most powerful catalogue-based Rewards Programme.
• Comprehensive travel benefits.
• Mobile alerts and statement by e-mail

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Punjab & Sind - ICICI Bank Blue Card

Benefits of Punjab & Sind – ICICI Bank Blue Card .


• International valid at over 12 million MasterCard-approved merchants world
over.
• Dial-a-Draft at 2.5% of the draft amount subject to a minimum of Rs.300.
• Lifetime Balance Transfer offer: 0.75% p.m. for the first 6 months (9% p.a.),
followed by 1.49% p.m. (17.88% p.a.) thereafter.
• Purchase protection of Rs.10,000
• Most powerful catalogue-based Rewards Programme
• Comprehensive travel benefits.
• Access to 24-hour Customer Care Centre and MasterCard approved ATMS
Federal Bank - ICICI Bank Silver Card

Benefits of Federal Bank – ICICI Bank Silver Card


• Dial-a-Draft at 2.5% of the draft amount subject to a minimum of Rs.300
• Lifetime Balance Transfer offer: 0.75% p.m. for the first 6 months (9% p.a.),
followed by 1.49% p.m. (17.88% p.a.) thereafter
• Most powerful catalogue-based Rewards Programme
• Comprehensive travel benefits.
• Accepted at over 22 million merchant establishments globally
• Mobile alerts and statement by e-mail
Federal Bank - ICICI Bank Gold Card

Benefits of Federal Bank – ICICI Bank Gold Card


• Welcomed internationally at over 22 million merchant establishments.
• High credit and cash limits.
• Dial-a-Draft at 2.5% of the draft amount subject to a minimum of Rs.300.
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• Lifetime Balance Transfer offer: 0.75% p.m. for the first 6 months (9% p.a.),
followed by 1.49% p.m. (17.88% p.a.) thereafter
• Access to Global Customer Assistance Services.
• Purchase protection of Rs.40,000.
• Most powerful catalogue-based Rewards Program.
• Mobile alerts and statement by e-mail
Spice Punjab Co-Branded card

Benefits of Spice Punjab Co-Branded Card


• The option to issue Standing Instructions (SI) against payment of Spice post-paid
bills bills.
• 2 reward points per Rs. 100 spent on Spice bills paid through SI on the card
• Rs. 50 credit on each bill for the first 3 months after SI activation for the 1st year
• STD Deposit of Rs.1,000 waived for cardholders on SI
• Pre-activated ISD with waiver of Rs.7,500 deposit to cardholders on SI
• All the regular benefits of the ICICI Bank Sterling Silver Card.
CESC Co-Branded card

Benefits of CESC Co–Branded Card


• Convenience of paying CESC electricity bills on Standing Instructions
• 2% cash back on CESC electricity bill payment through card
• Special EMI rates on purchase of electric and electronic durables
• Gift vouchers from Philips, Whirlpool, Pantaloon, etc. along with card
• All the regular benefits of the ICICI Bank Sterling Silver Card.
Dhiraj Sons Co-Branded card

Benefits of Dhiraj Sons Co–branded Card


• 2 reward points per Rs.100 for all transactions at Dhiraj Sons Megastores
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• Gift Voucher worth Rs. 150 with the Welcome kit.
• Discounts on various product categories
• Exclusive "Shopping Areas" at Dhiraj Sons.
• All the regular benefits of the ICICI Bank Sterling Silver card.
ICICI Bank - Air Deccan Gold Card

Exclusive Features
• Smart reward points – 3 reward points on every Rs.100 spent with your card.
Reward points are convertible to i–miles
• Smart Petro Savings – Fuel-surcharge waiver of 2.5% at select HPCL petrol
pumps
• Smart Pay – Pay for air tickets in EMIs, attractive rate of interest of just 4% flat
for 6 months’ tenure & 8% flat for 12 months’ tenure
• Smart Secure – Insurance cover against fraudulent transaction on the purchase
of air tickets at www.airdeccan.net
ICICI Bank - Central Credit Card

Benefits of ICICI Bank – Central Credit Card


• 0% EMI option for purchases of more than Rs.3,000 at Central.
• Free gift voucher of Central worth Rs. 250 with the offer booklet
• 4 reward points for every Rs.100 spent at Central. Also, 1 reward point for every
Rs.200 spent at merchant establishments other than Central.
• Priority Payment Counters at Central to save valuable time
• Up to 10% discount at restaurants within Central, on bills of Rs.250 and above
• 12 free coffee vouchers
• Free valet parking
ICICI Bank - Bajaj Capital Credit Card

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Benefits of ICICI Bank – Bajaj Capital Credit Card
• Lifetime-free Credit Card.
• Most powerful catalogue-based Rewards Program.
• Refund of surcharge of 2.5% on fuel purchased at any HPCL petrol pump in
India.
• Dial-a-Draft at 2.5% of the draft amount subject to a minimum of Rs.300
• Lifetime Balance Transfer offer: 0.75% p.m. for the first 6 months (9% p.a.),
followed by 1.49% p.m. (17.88% p.a.) thereafter
• 3.5% discount on basic airfares.
• Personal Loan on card facility.
• Purchase protection of Rs. 40,000.
ICICI Bank - King Fisher Airlines Credit Card
"The card that lets you live the good times" – A special card for those who live and fly
in style.
Benefits of ICICI Bank – Kingfisher Airlines Credit Card
• 5 reward points on every Rs.100 spent at Kingfisher Airlines tickets / counters
and 2 reward points on every Rs.100 spent at other merchant establishments.
• Reward points can be converted into King Miles. 1 Reward Point = 1 King Mile
• Fuel-surcharge waiver across all petrol pumps
• No reward points on fuel-purchase transactions
• I-Assist, 24x7 personal concierge services, offering a host of benefits.
• Air accident insurance of upto 50 lakhs
Big Bazaar Shakti Credit Card
(Powered By ICICI Bank Credit Cards)

Freedom to Spend. Power to Save


Benefits of Big Bazaar Shakti Card
• Specially designed for women
• Voucher worth Rs. 250 to be redeemed against purchase of Rs.500 or more at any
Big Bazaar outlet on payment through the ICICI Bank – Big Bazaar Credit
Card.*
• 4 reward points on every Rs. 100 spent at Big Bazaar (except EMI purchase)
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• Special payment counters at Big Bazaar outlets
• 1 kg sugar free every month for 12 months
• Priority entry during high traffic.
• Special preview day during annual sale at Big Bazaar
• Exclusive offers
• No finance charges on EMI purchases at Big Bazaar. On a purchase of Rs.1,500
and above in a single transaction, you can pay back the amount in 3 equal
monthly instalments, without incurring any finance charges. You also get 1
reward point per Rs.100 of EMI purchase All reward points can be converted into
Big Bazaar vouchers.
ICICI Bank - Indiatimes Credit Card
Benefits of ICICI Bank – Indiatimes Credit Card
• Free gift voucher worth Rs.151 for shopping at www.indiatimes.com
• 5% cash back on airline tickets purchased at www.indiatimes.com, valid up to
March 31, 2008 (not valid for Air Deccan and Spice Jet airline tickets)
• 10% cash back at special shopping zone of www.shopmore.indiatimes.com, valid
up o March 31, 2008
• 4 reward points for every Rs.200 spent at www.indiatimes.com
• Special net security for all transactions up to Rs.20,000 at www.indiatimes.com
free of cost
• 1 reward point for every Rs.200 spent at merchant establishments
• The option of redeeming the accumulated reward points against the indiatimes
gift voucher. The gift voucher can be used for shopping at www.indiatimes.com.
• All the regular benefits of ICICI Bank Sterling Silver Card.
ICICI Bank - Toyota Credit Card

Benefits of ICICI Bank – Toyota Credit Card


• One free service voucher at the time of joining the co–branded credit-card
programme. It can be redeemable across any of the TKML dealers nationally.
• Buy standard Toyota accessories with this card and get 5% discount at TKML
dealers.
• Waiver on fuel surcharge at HPCL outlets
• 8 reward points for every Rs.200 spent on the credit card at any TKML dealer.
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• 1 reward point for every Rs.200 spent on the credit card at any merchant
establishment other than TKML dealers
• Multiply accrued points by 10 and these points can then be used to avail of cash
discount of up to Rs.10,000 on the purchase of a new Toyota car.
• All the regular benefits of the ICICI Bank Solid Gold Card.
ICICI Bank – Indiatimes Credit Card
Special Product Features
• Free gift voucher worth Rs. 151 for shopping at www.indiatimes.com
• Special Shopping Section for ICICI Bank Indiatimes card holders at
www.shopmore.indiatimes.com
• 5% cash back on Airline Tickets purchased at www.indiatimes.com, valid upto
September 30, 2007 10% cash back on special shopping zone at
www.shopmore.indiatimes.com, valid upto March 31, 2008
• 4 reward points for every Rs. 200 /- spent at www.indiatimes.com.
• Access to previews of movies, concerts, seminars etc. organised by
www.indiatimes.com, by way of complimentary invitations or special discounted
prices
• Special EMI rates for purchases at www.indiatimes.com such as 0% for 3 months
or 6 months
• Cardholder will have special net security for all transactions upto Rs. 20,000/- at
www.indiatimes.com, free of cost to the cardholder.
• 1 reward point for every Rs. 200 /- spend for spends across merchant
establishments.
• Option of redeeming the accumulated reward points against the indiatimes gift
voucher. The gift voucher can be used for shopping at www.indiatimes.com.
ICICI Bank Buzz Credit Card

Special Product Features


• Life Time Free Credit card - No joining, annual or renewal fee
• Tie-ups with Youth Lifestyle Brands for discounts and offers
• Discounts on dining outlets at 555 restaurants
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ICICI Bank Preferred Gold Credit Card
Special Product Features
• Life Time Free Credit card - No joining, annual or renewal fee
• Low interest charges of just 1.49% pm on all retail purchases for the first 6
billing cycles, thereafter interest charges of 2.95% are levied.
• 0% fuel surcharge at select HPCL outlets
• 3.5% discount on air tickets (both international and domestic) booked through
BTI-SITA.
• Discount on Dining and room rents at more than 500 restaurants/hotels across
India.
ICICI Bank Preferred Silver Credit Card

Special Product Features


• Life Time Free Credit card - No joining, annual or renewal fee
• Low interest charges of just 1.69% pm on all retail purchases for the first 6
billing cycles, thereafter interest charges of 2.95% are levied
• 0% fuel surcharge at select HPCL outlets
• Discount on Dining and room rents at more than 500 restaurants/hotels across
India.
ICICI Bank - HPCL Silver Credit Card

Eligibility criteria:
• Transaction value of minimum Rs. 300 and above only will be eligible for the
cash back benefit.
• The transaction should be on ICICI bank charge slip only

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Cash back details:
• Minimum assured Cash Back per transaction is 1%
• The cash back amount will reflect in your next months billing statement.
Exclusive Features
• Refund of surcharge (2.5%) on fuel purchases at HPCL Outlets on ICICI Bank
charge slip only. Transactions above Rs.3,000 will not be eligible to a fuel
surcharge waiver
• Earn 1 reward point on every Rs.200 spent on all purchases except on fuel
purchases at HPCL outlets.
• Discount on tyres, batteries and auto accessories sold at select HPCL petrol
pumps
• Dial-a-Draft at 3% of the draft amount subject to a minimum of Rs.300
• Lifetime Balance Transfer offer: 0.75% p.m. for the first 6 months (9% p.a.),
followed by 1.49% p.m. (17.88% p.a.) thereafter
• Most powerful catalogue-based Rewards Programme .
• Comprehensive travel benefits
• Accepted at over 22 million merchant establishments globally
Special Product Features
• Life Time Free Credit card - No joining, annual or renewal fee
• Get cash back on your fuel purchases
Table 1
Monthly fuel spends at HPCL outlets Cash Back
0-499 Nil
500 – 1499 1%
1500 – 2999 1.50%
3000 and above 2.50%
• Refund of Surcharges (2.5%) on Fuel Purchases at HPCL outlets.
• Earn 1 Reward Point on every Rs. 200 spent on all purchases except on fuel
purchases at HPCL outlets.
• 15% discount on P.U.C check and Labour charges at select HPCL Petrol Pumps.
Discount on tyres, batteries and auto accessories sold at select HPCL Petrol
Pumps.
Benefits of ICICI Bank – HPCL Silver Credit Card
• Get up to 100% cash back every time you refuel with your ICICI Bank HPCL
credit card at any HPCL outlet.
• Offer period: From March, 01, 2008 to Aug, 31, 2008

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ICICI Bank - HPCL Gold Credit Card
Eligibility criteria:
• Transaction value of minimum Rs. 300 and above only will be eligible for the
cash back benefit.
Cash back details:
• Minimum assured Cash Back per transaction is 1%
• The cash back amount will reflect in your next months billing statement
Exclusive Features
• Refund of surcharge (2.5%) on fuel purchases at HPCL Outlets on ICICI Bank
charge slip only. Transactions above Rs.3,000 will not be eligible to a fuel
surcharge waiver
• Earn 1 reward point on every Rs.200 spent on all purchases except on fuel
purchases at HPCL outlets.
• Discount on tyres, batteries and auto accessories sold at select HPCL petrol
pumps
• Dial-a-Draft at 3% of the draft amount subject to a minimum of Rs.300
• Lifetime Balance Transfer offer: 0.75% p.m. for the first 6 months (9% p.a.),
followed by 1.49% p.m. (17.88% p.a.) thereafter
• Most powerful catalogue-based Rewards Programme
• Comprehensive travel benefits
• Accepted at over 22 million merchant establishments globally
Special Product Features
• Life Time Free Credit card - No joining, annual or renewal fee
• Get cash back on your fuel purchases.
Table-2
Monthly fuel spends at HPCL outlets Cash Back
Till Rs. 500 Nil
Above Rs. 500 up to Rs. 1500 1%
Above Rs. 1500 up to Rs. 3000 1.50%
Above Rs. 3000 2.50%
• Refund of Surcharges (2.5%) on Fuel Purchases at HPCL outlets.
• Earn 1 Reward Point on every Rs. 200 spent on all purchases except on fuel
purchases at HPCL outlets.
• 15% discount on P.U.C check and Labour charges at select HPCL Petrol Pumps.

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Benefits of ICICI Bank – HPCL Gold Credit Card
• Get up to 100% cash back every time you refuel with your ICICI Bank HPCL
credit card at any HPCL outlet.
• Offer period: From March, 01, 2008 to Aug, 31, 2008.
ICICI-FUTURE CREDIT CARD
Kishore Biyani-led Future Group’s new credit card offering loyalty points —
Future Card — is expected to include service-oriented companies from the telecom and
aviation industries.Entities which are currently not part of the Future Group are already
in talks with the retailer to use its platform to increase consumption of their services.
Airlines such as Kingfisher and Deccan, which already have their respective loyalty
programmes, have evinced interest in being part of the Future Card.
In fact, there are airlines already in this segment but at the same time are open
to expanding their existing loyalty programmes.” Even telecom service providers, who
already have discount schemes as part of their packages, are looking at tapping into the
resources provided by the Future Card due to its wide consumer base. “The Future
Group has a presence in 50 locations, which is expected to go up to 100. There would be
even regional telecom players whom we could include in the Future Card.Besides, travel
is going to be a focus area for the Future Group, having forged alliances with travel
agencies such as Cleartrip.com and Travel House. In fact, with Future Capital having
picked up a stake in Centrum Capital, there is a possibility of getting into forex-related
services for which it might rope in Cleartrip.com as well.Besides, the Mumbai-based
travel agency, Travel House, is already a member company of the Future Card and is
giving discounts for its packages as part of the loyalty programmes.
Meanwhile, the 1 million ICICI Big Bazaar Credit Card-holders would be
transferred to the new Future Card, which would cover the 32 Future Group companies
ranging from Pantaloon Retail to its several joint ventures such as Lee Cooper and
Etam. While the new Future Card would continue to be empowered by ICICI Bank,
companies outside the Future group would continue to be added to it, offering loyalty
points for members. With free gifts assured on the Future Card, the Future Group
expects its membership to touch 3-4 million in the near future.
It could be a venture that could bring one of
the most innovative companies in their respective
businesses to launch a co-branded credit card.
Future Group’s financial services arm,
Future Capital Holdings has tied up with India’s
largest private sector bank,ICICI to launch Future
Card, which is a credit card cum loyalty card. As
opposed to the current ICICI Bank Big Bazaar
card, this card would offer customers discounts and
benefits across all Future Group stores such as Pantaloons, Central, Big Bazaar, Food
Bazaar, Home Town, e-zone among others.Customers will receive four loyalty points for
every Rs 100 spent at Future group’s retail stores and one loyalty point for every Rs 200
spent outside the group’s retail stores. All 5 lakh existing holders of ICICI Bank Big
Bazaar card would have option to migrate to Future Card.While ICICI will do all the
41
legal work along with collection and recovery of money from card holders, Future Group
would market and distribute the cards for which it will receive Rs.600 for every new
credit card issued.
Features of Future Credit Card
• One KG Food Bazaar sugar free for the first 6 months in Big Bazaar on ICICI
Bank Machine.
• 3% off on Foods for the first 3 months in Big Bazaar on ICICI Bank Machine.
• 15% off on Fashion for the first 3 months in Big Bazaar on ICICI Bank Machine.
• 10% off on General Merchandise for the first 3 months in Big Bazaar on ICICI
Bank Machine.
• Rs 100 off on spends of Rs 500 and above per month or Rs. 200 off on Shirt/T-
shirt worth Rs. 1000 and above for the first 6 months in Pantaloons on ICICI
Bank Machine.
• Rs. 50 off on spends of Rs. 1000 and above per month for the first 6 months in
Central on ICICI Bank Machine.
• Rs. 250 off on spends of Rs. 2500 & above per month for the first 3 months in
Central on ICICI Bank Machine.
• Rs. 50 off on spends of Rs. 1000 and above per month for the first 6 months in
Brand Factory on ICICI Bank Machine.
• Rs. 250 off on spends of Rs. 2500 & above per month for the first 3 months in
Brand Factory on ICICI Bank Machine.
• Rs 50 worth of Book Free from Exclusive Depot Collection per month for the first
6 months.
• Shoe polish/Socks free on spends of Rs 100 and above per month in Shoe Factory
for the first 6 months on ICICI Bank Machine.
• 50% off on spends of Rs 200 and above per month on mobile recharge in
Mport/Gen M for the first 6 months on ICICI Bank machine.
• A gift worth Rs 249 free on spends of Rs 111 and above in Planet Sports for the
first 6 months on ICICI Bank machine.
• 1 game free per month in F123/Bowling Company for the first 6 months.
• 1 snack free per month in Sports Bar/SBX for the first 6 months
• Rs. 200 off on spends of Rs. 1000 and above in Top 10 for the first 6 months on
ICICI Bank machine.
• Gift worth Rs. 250 free for spends of Rs. 1000 and above per month in Home
Town and 10% Cash Back for purchase of Rs 10000 to Rs 50000 for the first 6
months on ICICI Bank machine.
• Gift worth Rs. 250 free for spends of Rs. 1000 and above per month in Collection
I and 10% Cash Back for purchase of Rs 10000 to Rs 50000 for the first 6 months
on ICICI Bank machine.
• Gift worth Rs. 250 free for spends of Rs. 1000 and above per month in Furniture
Bazaar and 10% Cash Back for purchase of Rs 10000 to Rs 50000 for the first 6
months on ICICI Bank machine.
• Dieticien's Advice and 1 Day exercising Free once in the first 6 months in
Talwalkars Fit & Active.
42
• Headphone worth Rs. 199/- free with every purchase through Future Card at E
Zones for the first 6 months.
• A Future Card & Futurebazaar.com Mug worth Rs. 50 free on first purchase of
every month at futurebazaar.com for the first 6 months.
• 10% off on bill at Cream Center for spends through future card on ICICI Bank
Machine for the first 6 months.
• 10% off on bill at Bombay Blues for spends through future card on ICICI Bank
Machine for the first 6 months.
• 10% off on bill at Copper Chimney for spends through future card on ICICI Bank
Machine for the first 6 months.
• 10% off on bill at Sphaghetti Kitchen for spends through future card on ICICI
Bank Machine for the first 6 months.
• 10% off on bill at Noodle Bar for spends through future card on ICICI Bank
Machine for the first 6 months.
• 10% off on bill at Penne for spends through future card on ICICI Bank Machine
for the first 6 months.
• 10% off on bill at The Spoon for spends through future card on ICICI Bank
Machine for the first 6 months.
• 10% off on bill at Yatra for spends through future card on ICICI Bank Machine
for the first 6 months.
• 50% discount on a range of Special Packages (Apollo Health Check Ups) for the
first 3 months at Apollo Health & Lifestyle.
• 15% off on Health Checkup for the first 6 months at Apollo Health & Lifestyle. . .
• 15 % discount for spends on on all Lilliput Footwear at Lilliput for the first 6
months.
• Inaugral offer: 1 Face / Body Firming session plus counseling worth Rs. 2000
FREE within the first 8 month.
• 30% flat discount on Slimming / Beauty / Hair packages at VLCC for the first 6
months
• 30% flat discount on Beauty Services at VLCC for the first 6 months.
• 15% flat discount on RBS (Salon Service) at VLCC for the first 6 months.
• 15% flat discount on Domestic Packages at travelport for the first 6 months.
• 10% flat discount on Weekend Breaks at travel port for the first 6 months.
• 12.5% flat discount on International Packages at travelport for the first 6 months.
• 2.5 % surcharge waiver on fuel purchases at select HPCL outlets.

REWARD POINTS: 2 Points* on every Rs 100 spends at Future Outlets and 1 point on
every Rs 200 spends on other outlets.
43

Chapter 2
Objectives, Scope & Limitation of the Study

OBJECTIVES OF THE STUDY


The main objectives of the study are as follows:
• To study the perception of people towards credit cards in general.
• To study the perception of people towards ICICI credit cards.
• To know the demand for ICICI credit card in comparison to other competitors in
the city of Cuttack.
• To know the feedback of customers about ICICI credit card in the city of Cuttack.
• To know the awareness level of people about the ICICI bank credit cards and its
term and conditions in the city of Cuttack.
• To help the ICICI bank to raise its revenue by increasing the number of
customers.
This study will give ICICI bank ample chance to grow in future. This study has well
analyzed data which is enough to take any good decision.
SCOPE OF THE STUDY
• The scope of this analysis is to tell the ICICI bank, that where they are lacking.
Many customers are leaving ICICI bank credit card because of some rule and
regulations. This particular study will help any financial institution to overcome
from there bad retention rate.
• I have taken the help of some questions which will make me clear whether people
still want ICICI bank credit card or not?. On the basis of my analysis I will give
some suggestion which will work as life jacket for the ICICI bank to overcome
from its bad image.
• The main scope of this analysis is to make the popularity of the ICICI bank credit
card, and try to make them (customers) aware about the credit card and its
benefits. This study is beneficiary for the both ICICI bank and the customer using
the credit cards.
• This study is fully supported by the wide range of data vividly analyzed which will
help the company to read the customers mindset and try to bend them according
to its need.
LIMITATION OF STUDY
• The study was restricted to City of Cuttack. It may not provide an overall view of
the market of financial card (Credit Card).
• Some of respondents were hesitant to give information to some questions; the
information was withheld saying it was confidential.
44
• Information provided by the customers and the bank’s personnel can be biased,
which may have affected my project.
• As the topic of my project was completely research- oriented, I didn’t get any
suitable book for my project.
• Due to shortage of time I was not able to take more sample size than 100,, which
could also be a hurdle in my suggestion.
Problems Encountered During the Study
• The people have less knowledge of rule & regulation of proper handling of credit
cards.
• Although it is very much beneficial for the customers to some extent, generally
they don’t want to use the credit card.
• The professional people are not ready to give time for these interactions.
• It was very difficult to convince people to participate in the study.
• People also sometimes hesitated to give appointment for interaction.
• Problem was also faced while getting permission in different business firms to
interact with their customers.
• Sometimes it was very difficult to get accurate information from the respondents.
45

Chapter 3
Methodology of the Study

SAMPLE
Total numbers of 100 respondents were surveyed to know the perception of people
towards credit cards in general and ICICI credit cards in particular. Sample was
selected on the basis of purposive sampling method.

DATA COLLECTION
Mainly the data were collected from primary sources. Along with implementation of
questionnaires, data were also collected through personal interaction. The researcher
used to stay at the shopping malls, ATM counters, offices, public places and interact with
the people.

INSTRUMENTS USED FOR THE STUDY


A self developed questionnaire was used to collect data. Before administering it to the
respondents the questionnaire was verified by the experts. The items were mainly in
nominal and interval scale. Along with close ended questions some open ended questions
were also there in the questionnaire to know the opinion of people in detail.

DATA ANALYSIS
The obtained data were analyzed by using descriptive statistics, graphs and charts.
46

Chapter 4
Results & Interpretations

1. GENDER
Interpretation:-
The research activity was carried out with a sample base of 100 respondents. During the
survey it was found out that out of 100 respondents 85 are male and 15 are female who
are currently using credit card of various banks.
FIG- 2

% of sex ratio among of customers

15%

male
female

85%

TABLE -3
% of sex ratio among of customers
Gender
Male 85
Female 15
Total 100
47
2. QUALIFICATION
Interpretation:-
The research activity was carried out with a sample base of 100 respondents. During the
survey it was found that out of the 100 respondents 25 were graduates,35 have done their
post graduation,25 were professionals and he rest 15 are self employed people.
FIG - 3

% OF QUALIFICATION OF CUSTOMERS

35
30
25
20
NO OF
CUSTOMERS15
10
5
0
G
PG PROF OTHERS
QUALIFICATION

TABLE-4
QUALIFICATION %
G(Graduates) 25
PG(Post-graduates 35
PROF(Professionals) 25
OTHERS 15
TOTAL 100

3. AGE
Interpretation:
The research activity was carried out with a sample base of 100 respondents. During
the survey it was found that out of the 100 respondents 65 person are between 20 to 34
age. 26 person are in 35 to 49 age. Ad only 9 people are among 50 to 65 age group.

48
FIG-4

% OF AGE OF CUSTOMERS

9%

26%
20-34
35-49
50-65

65%

TABLE-5

AGE NO OF CUSTOMERS

20-34 65

35-49 26

50-65
9
TOTAL 100
5.OCCUPATION
Interpretation: During the survey it was found that among 100 customers, there are
65 private company employees, 15 business man ,and very few number of govt employees
i.e 5. where as 15 other qualified customers
FIG-5
% OFOCCUPTION OF CUSTOMERS

70
60
50

NO OF CARD 40
HOLDER 30
20
10
0
BUSINESS
GOVT PRIVATE OTHERS
OCCUPTION
49
TABLE-6

OCCUPATION %
GOVT 5
BUSINESS 15
PRIVATE 65
OTHERS 15
TOTAL 100

5.MONTHLY INCOME
Interpretation:The research activity was carried out with a sample base of 100
respondents. During the survey it was found that out of the 100 respondents 15 person
are below Rs10,000 , 60 person are among Rs10,000 to Rs30,000 group and 15 people
are in Rs30,000 to Rs40,000 group where as only 10 people are earn above Rs40,000.
FIG-6

Monthly income of Customers

60

50

40
Number of
Customers 30

20

10
0
BELOW 10,000 TO 30,000 TO ABOVE
10,000 30,000 40,000 40,000
category of person

TABLE-7
MONTHLY INCOME %

BELOW 10,000 15

10,000 TO 30,000 60

30,000 TO 40,000 15
ABOVE 40,000 10
TOTAL 100

50
6.Are you an account holder of any bank?
Interpretation:The research activity was carried out with a sample base of 100
respondents. During the survey it was found that out of the 100 respondents 90 people
having there account in ICICI bank, 75 people having there account in HDFC bank, 80
people having there account in SBI bank and 54 people in other banks.
FIG-7

CUSTOMER OF DIFFERENT BANK

90

ICICI
HDFC
SBI
OTHERS
80

75

TABLE-8
NAME OF BANK NO OF ACCOUNT HODERS

ICICI 90

HDFC 75

SBI 80

OTHERS 54

7.Which grade would you like to give for credit card service by ICICI
bank?
Interpretation:
During the survey it was found that among 100 people 10 people said service is
poor, 50 people said service is average, 25 people are said service is good, where as only
15 people said service of ICICI bank is excellent.

51

FIG-8
SATISFICATION OF CUSTOMER

15% 10%
POOR
AVERAGE
GOOD
EXCELLENT
25% 50%

TABLE -9

CREDIT CARD SERVICE OF ICICI BANK- NO OF CUSTOMERS

POOR 10

AVERAGE 50

GOOD 25

EXCELLENT 15

8.Do you use Credit Card?


Interpretation:
Survey shows that out of 100 respondents 68out of them posses credit cards while
32 out of them don’t have icici bank’s credit card which shows that still many people of
Cuttack use Credit Cards.
52
FIG-9

Percentage of people having credit card

No
32%

Yes
No
Yes
68%

Table 10. Percentage of people having credit card


Yes 68
No 32
TOTAL 100
53
Chapter 5
Findings, Conclusion & Recommendations
FINDINGS
The particular research what I have done on topic “Customer’s Perception
Towards the Performance of ICICI Credit Cards with Reference to the City of
Cuttack”, is basically depend on the perception and thinking of the customers. In this
project I have taken the sample of 100 people, means I have asked some questions to
the 100 people, from that only 68 people have the credit card. What they have given
as a answer to my questions is as follows:
• After completing my research I found that only 68 people have credit card
included, ICICI bank. From that number the number of people having ICICI bank
credit card are 41, and rest has different bank credit card.(Q.8)
• The maximum mode of payment is by using credit card, it is 68 in number and the
rest from 100 are using debit card or cash. It make clear that now the people are
looking for more credit card then the debit card or cash.(Q.8)
• Customers always excited to know about some facility in credit card. Maximum
people approx. 85 from 90 are interested to know about some reward in credit
card. So the company should always come up with some reward
program(facility), that will keep the customers attractions towards the credit
card.(Q.11)
• From my research I just come to know that there are still lots of people who are
not satisfied with the ICICI bank credit card service which is bad for the
company. It may harm the image of ICICI bank.(Q.10,Q.6)
• My research showed that still there are lots of people who are interested in ICICI
bank credit card. And many of them are also say that approximately more then 80
people said credit card is necessary for life.(Q.18)
• My research also showed that many people more then 50% are not aware about
type of credit card and timely offer by ICICI bank.(Q.13)
• In my research I also find that among 100 people who are eligible for credit card
they are belong to private sector only. So it is necessary for bank to consider
Govt employee and businessman also.(Q.3)

CONCLUSION
There are 68%(according to my analysis and data collection) people, who have credit
card. They always like to use credit card whenever they need it. These 68% people are a
satisfied with the services and offer given to the credit card holder. Customers have very

54
positive opinion about the ICICI bank credit card. From the collected data about 41 from
68(according to my analysis and data collection) people have ICICI bank credit card
and they are happy with it.
The ICICI bank credit card are very popular among the customers. If they suppose to
be a credit card holder in future the always like to buy a ICICI bank credit card because
of its varieties and its different qualities. ICICI bank has introduced credit card, and all
cards are very much popular in there sectors.

RECOMMENDATIONS
• There is some recommendation for the ICICI bank to get rise in the future. Those
recommendations are:
• Company should tell every term and condition for everything from applying for
credit card to deposit the money while making any customer. There should not be
anything hidden, which may create problem for the customers. If customers will
get any problem then it will became the bad word mouth, which may increase the
number of leaving customers in future.
• Customers want to withdraw some cash which is not benefiting through credit
card, because it has very hard and fast rule. So the company should give some
option for those customers who want to withdraw cash through credit card it will
increase the number of customers.
• There are some customers who have no time to go specially to deposit the money
in ICICI bank. They ask us for some other idea to deposit money but they don’t
have debit account in the ICICI bank so they cannot do anything. So the company
should give option to automatic deduction of money from debit account from any
bank and bank statement will send to the customers, which gives a better comfort
for the customers.
• The company should lower the interest charges on delayed payment.
• Bank should also think about those person having Rs 5000 as minimum salary.
Those person are also interested in credit card.
• The staff of bank should change their behave towards customers.
• Company should think for the advertisement for the card. There is less
advertisement for the credit card, the company should give the ads relating the
benefits given by the company.

55
BIBLIOGRAPHY

Levin, R. I. & Rubin, D. S. (2006). Statistics for Management. Place of


Publication:Dorling Kindersley(India)Pvt.Ltd

http://www.icicibank.com

http://www.news.bbc.co.uk.com

http://www.rbi.org.in.com

http://www.ICICI/CREDITCARD.com

http://www.ICICBANK/creditcard/Premiumcreditcards/Airmilescreditcard/Goldcreditca
rds/AirMilesCreditCards

http://www.ICICIBANK/creditcard/ICICIBankCreditcard/BestcreditcardCreditcards/inI
ndia

http://www.ICICIBANK/creditcard/GoogleImageResultforhttp___www.fahad.com_pics_i
ncard_otp_credit_card

http://www.ICICIBANK/creditcard/frontline_secrethistoryofthecreditcard_eightthingsacr
editcardusershouldknow

http://www.ICICIBANK/creditcard/CreditEducation_OriginandHistoryofCreditCards

http://www.ICICIBANK/creditcard/CreditCardsIndia_ICICICitibankHDFCSBICreditCa
rdComparators

http://www.ICICIBANK/creditcard/CreditCardsinIndia,Banks,Tips,FAQs,ATMCentres

http://www.ICICIBANK/creditcard/CreditCards.

http://www.ICICIBANK/creditcard/CreditCardProcessing_ProductReviews

http://www.ICICIBANK/creditcard/CreditcardWikipedia,thefreeencyclopedia

56
APPENDIX

QUESTIONNAIRE
I am Mr.Biswa Ranjan Patro doing Post Graduate Programme in International Business
at Asian School of Business Management (ASBM), Bhubaneswar. As a part of my
summer project I am conducting a research on “Customer’s Perception towards ICICI
Bank Credit Card”. Your response will be of immense help for me.

Q1. What is your name?

SEX----- MALE/FEMALE AGE-----

Q2. What is your qualification?


(a)Graduate (b) Post Graduate (c) Professional (d) others

Q3. What is your occupation?


(a) Government employee. (b) Business man. (c) Private company. (d) Other.

Q4. What is your monthly income?


(a) Below 10,000. (b) 10,000 to 30,000. (c) 30,000 to 40,000 (d) Above 40,000.

Q5. Are you an account holder of any bank?

If yes in which bank


(a) ICICI BANK (b) HDFC BANK (c) SBI (d) Others

If NOT in ICICI bank WHY?

Q6.Are you satisfied with the services provided by ICICI BANK?


(a) YES. (b) NO.

Q7.Do you have any knowledge about credit card ?


(a) YES. (b) NO.

Q8 which bank credit card are you using?


(a) ICICI BANK. (b) HDFC BANK. (c) SBI. (d) AXIS BANK. (e) other.
If not ICICI bank, why?
57
Q9 If you’re using credit card by any other bank (not in ICICI BANK) what grade would
you like to give to that credit card service?
(a)20% (b)50% (c)80% (d)100%.

Q10. Which grade would you like to give for credit card service by ICICI bank?
(a) Poor. (b) Average. (C) Good. (d) Excellent.

Q11.According to you which major factors that plays vital roles before choosing a credit
card?

(a) Service. (b) Company. (c) Facility. (d) Others.

Q12. Which place you normally going for shopping?

(a) Branded outlets. (b) Super markets. (c) Convenient store. (d) Other.

Q13. Are you aware of below facts?

(a) Type of credit card by ICICI bank.


(b) Offer related to credit card by ICICI bank.

Q14 which source/media you came to know about the ICICI BANK credit card service.
(a) News paper. (b) TV. (c) Radio. (d) Internet. (e) Friends. (f) Agent.

Q15. Problems handle by ICICI bank.


(a) Poor. (b) Average. (c) Good. (d) Excellent.

Q16. Do you think ICICI bank really consider your problem and feed back?
(a) NO.
(b) YES.

If YES (a) all time. (b) Rarely. (c) Never. (d) Don’t know.

Q17. Are you satisfied with the existing services?


(a) YES. (b) NO.
If NO (in which areas BANK need improvement.)

Q18. Is credit card necessary for life?

DATE-- PLACE--

THANK YOU
58