CHAPTER NO.

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CONCLUSION AND RECOMMENDATION
CONCLUSION
In this research the credit card ownership and usage
behaviors is studied. The questions designed for this
research are planned so as to apply general to specific
approach in which the respondents are asked to express
their response on the scale from strong agreement to
strong disagreement to a given statement.
The first part of the questionnaire (table 4.1 to 4.!
collects the basic information and attributes of the
respondent with respect to gender" age" qualification"
#ob and income level. The second part (table 4.$ to 4.%!
collects information as to the ownership and usage
behaviors of the respondents. The third part of the
questionnaire (table 4.& ' 4.1(! records respondents)
behavior with respect to the paying back of credit and
interest and respondents) attitudes towards the length of
the credit period. The final part of the questionnaire
(table 4.11 to table 4.**! contains many statements and
respondents are asked to express their agreement or
disagreement with the statement. This part collects views
on the positive and negative aspects of the credit cards
and its usage)s implications. This part also collects
views on the regulations of Islam on credit card usage
and the likely future of credit cards) usage in +akistan.
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,ut of results of these questionnaire and subsequent
interviews it is observed and concluded that ma#ority of
the respondents (.-! are non users of credit cards.
.imilarly" those who have credit cards seldom keeps more
than one and also use the credit card on particular
occasions only such as while making payments through
internet or in case of emergencies where arranging cash
is problematic.
.imilarly" results show that the ma#ority of credit card
holders do pay their payable balance within the credit
period to avoid high interest costs. This clearly depicts
that the people preference for credit card is not due to
the long credit period but to avoid the risk with
handling cash and the ease of using credit cards.
The opinion/view part of the questionnaire and interview
shows some interesting results. 0hile ma#ority of the
respondents disagree and are neutral to the statement
that using credit card has disadvantages" ma#ority of
them agree with the statement that people tend to
purchase more then the can actually afford and thus run
themselves into high interest costs. This clearly shows
that ma#ority of people are actually not clear in #udging
the disadvantages of the credit cards and thus have
conflicting ideas.
1urthermore" study of responses shows that people are mix
to their views on the statement that credit cards can be
afforded by only the wealthier masses. .ome people even
believe that with small/cheaper items and for purchasing
household items the use of credit card is not that
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effective as on such occasions making cash payments is a
better alternative. .imilarly" people believe that the
usage of credit card is more suited to businessmen and
business transactions.
2esults of the final part of the questionnaire/interview
show that ma#ority of the people have the view that if
you pay back your full credit amount availed without
having to pay the interest i.e. within the credit days
then use of credit card is not prohibited in Islam. 3lso"
ma#ority of people have the views that 4redit cards will
gain more and more acceptance in the coming years in
+akistan with more users.

RECOMMENDATIONS
2esearch shows that credit card usage rate is still on
the lower side however there is potential for its
greater acceptance in the future. These prospects
should be clearly analy5ed by the financial
institutions especially by the commercial banks. The
low rate of acceptability to date may be due to
unawareness of the utilities of credit card and thus
it may require heavy advertisement campaign and
persuading tools to educate masses and making them
aware of the availability of the service/facility.
+eople are some what aware that use of credit card
involves interest (and even hidden! costs. This may
be the biggest reasons of their reluctance to use
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credit card. 1inancial Institutions/banks may
replace the interest cost with the fixed amount of
bank fee to remove people concern for interest cost
and to promote credit card use.
2esults also have shown that ma#ority of people feel
that the length of credit period offered by the bank
is relatively less. 4ommercial 6anks may also
accommodate this finding in making any long term
strategy for credit card offers.
1or customers/users of credit card who feel that they
some time are trapped by the lucrative credit card
schemes of the banks it can be recommended that any
credit card schemes terms should be carefully
studied and discussed with bank for removing
confusion from the outset to avoid high costs
subsequently.
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