Beruflich Dokumente
Kultur Dokumente
ON
“Customer’s Perception Towards the
Performance of ICICI Credit Cards with
Reference to the City of Cuttack”
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
( Subharanjan Mohanty)
ii
Prof. Ratikanta Biswal,
Asian School of Business Management,
Bhubaneswar
CERTIFICATE
iii
DECLARATION
iv
ACKNOWLEDGEMENT
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
ix
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
1
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
ICICI Bank
ICICI Home
ICICI Infotech
Finance
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
5
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.
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
18
Premium Cards: Features at a Glance
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.
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• 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.
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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.
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ICICI Bank- Solid Gold Credit 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.
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• 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
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• 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
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
25
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
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ICICI Bank - Trinethra Credit Card
30
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
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Punjab & Sind - ICICI Bank Blue 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
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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)
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
38
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
39
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.
40
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
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.
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
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
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
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
POOR 10
AVERAGE 50
GOOD 25
EXCELLENT 15
No
32%
Yes
No
Yes
68%
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
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.
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) Branded outlets. (b) Super markets. (c) Convenient store. (d) Other.
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.
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.
DATE-- PLACE--
THANK YOU
58