Citibank credit cards essay

Prior tolaws prohibited consumers from owning more than one credit card, from revolving credit, and from using their Citibank credit cards essay to obtain cash advances. Taiwan was a cash-oriented society in which it was considered unacceptable to owe other people money.

The entire process is totally mechanized.

1160 words free essay on Credit Card Lifestyle

According to the current credit policy maximum limit extended is roughly twice the substantiated monthly income. Concentrated in Hong Kong, this business was growing rapidly and by the middle of Citibank had nearlycustomers.

However, most Asian governments had a number of regulations designed to protect local banks and limit the expansion of foreign banks. Yet, with a population of million, it is among the few potentially large markets in Asia Pacific. Moreover, American Express has the market in its pocket. However, card usage had become so commonplace in Australia that prestige and image associated with the card or the issuing bank was no longer an important consideration when choosing a credit card.

The MasterCards and Visas offered by the four major national banks offered one or more of these features. According to the research Attrition could occur due to Citibank credit cards essay of the following reasons: A regional market research agency estimated that in order to acquire about 25, customers in Singapore see Table ACitibank would typically need to invest in a multifaceted direct marketing program consisting of direct mail, take-ones, direct sales force making about 10 calls a dayand bind-ins.

The government did not impose restrictions on card ownership, but because of low income levels many did not qualify for membership, and this severely limited the size of the customer base. Rajive Johri, a business manager in In a country of million, it should not be difficult to find the right staff and a million customers.

To their owners, credit cards provided value by allowing them to make purchases and pay for services at any time without having to worry about carrying large amounts of cash.

We have a small two-million population and an already saturated card market. And rural India, too, is not far behind in this case. E to look at the attrition trends and reasons in Citibank businesses across the region and suggest remedy to handle the situation.

With an average purchase 24 92 Citibank: For example, Citibank pioneered telephone banking in much of Asia. When a Citibank cardholder approached a Citibank merchant to purchase goods, the following round of transactions would result: The Hong Kong launch following the acquisition had used a combination of widespread TakeOne displays in more than 4, merchant locations and direct mailings as well as cross-selling to existing branch customers.

It offered a number of benefits, including low mandatory repayment of the loan, no collateral or guarantors required, and ready cash withdrawals through ATMs automated teller machines. What are the vintage trends of the cancelled cards.

Moreover, country managers were not comfortable with an unsecured credit product such as credit cards and did ot want to take the large losses of a card business, in the initial years, that their projections seemed to indicate.

On the other hand, there were several arguments that questioned market entry through acquisition. Each group comprised respondents and was fully taped. Mortgage Power, targeted at housing loan customers, allowed those whose homes were worth more than the existing mortgage to obtain a revolving line of credit on top of their existing loan.

Primary data was gathered through the standardized telephone interview of the respondents, which was conducted by the author. Credit cards issued in the Philippines could be used only for local transactions in local currency.

As with neighboring Indonesia, Malaysia had a prosperous business population of nearly one million half of whom were of Chinese origin whose business interests took them to many countries in the Asia-Pacific region as well as to the United Kingdom.

Essay on Citibank Case Analysis

With 21 banking centers in 15 countries around the world, the International Personal Banking IPB business was designed to service the growing group of affluent Asian offshore clients with global financial needs. The majority of Citibank consumers were in the United States, where one out of six American households had a relationship with the bank.

Professor Sibghatullah Hussaini 3. The other major competitors were bank cards. It was a way of preparing oneself for the need to avail credit in the future, in case such need arises.

Of these, about half were Bankcards, cards issued by 10 local banks for local use only. The agency further estimated that of the prospects who had responded through direct mail or direct sales, nearly two-thirds would qualify for a card, and of those who responded to take-ones or bind-ins, nearly one-third would qualify for a card.

Cards were used mostly to pay for personal and family retail purchases, with the exception of a small group of corporate customers who used the cards for business travel and entertainment.

Exhibit 6 provides a graphical representation of a typical transaction cycle. While banks have the discretion to make changes, the RBI guidelines state that the total annual percentage rate cannot be more than 30 per cent. I wonder if credit card customers will perform any differently.

It was also expected to broaden the area of acceptability, to keep its customers loyal and happy. Customers would like to be rewarded for spending in terms of value addition, for instance reduction in interest charges and membership fees.

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A differentiating product would present a decent growth opportunity for Citibank. Countries not to Enter for Now India – With 80% rural population, personal income of majority Indians may be too low to meet the minimum income requirement for credit cards.

Apr 22,  · Credit Card Debt Essays (Examples) Essay Paper #: Credit Cards Consumer debt is a major problem In America, with credit card debt being the most prevalent type of consumer dent.

Citibank Credit Card Paper

A great deal of credit card debt is acquired while consumers are in college. Citibank Credit Card Business Poster. View Full Essay. Words: Length. Citibank Credit Cards Citibank and also prevent from the cannibalization of current Dinner Card holders (See Exhibit 3).

Expansion for Emerging Markets (See Exhibit 4): Considering the long-term growth prospects, Citibank should start credit card business in emerging markets like India.

Citibank: Launching the Credit Card in Asia Pacific Citigroup is an American multinational financial services company based in New York City.

Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group. Sample Essay. The other thing which is to be clarified is that the Region of Asia Pacific has the right technology to support the new system of credit card and the bank would not end up making losses after the system of credit card has been launched.

Hdfc Bank Credit Cards Essay “STUDY OF HDFC BANK Reasons for Voluntary Attrition in Credit Cards at Citibank Pakistan for the period Jan. ’10 to Jun. ’ Prepared for Mr. Sibghatullah Hussaini Submitted by Ahmed Hassan July 28, Sponsor’s Name/Client Professor Sibghatullah Hussaini, Faculty Member, IBA.

Citibank credit cards essay
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