Preview

Survey of Credit Card Services

Powerful Essays
Open Document
Open Document
2319 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Survey of Credit Card Services
Survey of Credit Card Services
Report Content:

1. Introduction
2. Features and Characteristics of the credit card services
3. Questionnaire
4. Findings and analysis
5. Conclusion and Recommendation

Introduction
Credit card is a payment method. It can substitute cash and checks for transaction. In more than 200 countries around the world can use credit cards. Most branded companies and shops accept credit card payments spending.

In Hong Kong, credit cards are very popular. More people out of work must have 1-2 credit cards, or even more. More than 6000 in Hong Kong business organizations have joined the credit card payment method. Different types of industry support for credit card payment method.

Credit card used method is very widely in the world. They can make people lives easier and grows economies. Since the credit card banking product is popular and international. We make the survey to find out the consumer selected reason, recognize and opinion of credit card services.

Survey purpose
This survey is to collection interviewee opinion of credit card services in Hong Kong to find out credit card advantage and disadvantage in order to get some suggestion to improve the credit card service in Hong Kong

Survey Method
Questionnaires survey with interviewers

Target Population
Between 18 to 50 years old who have credit cards

Survey Date
From 10th October 2010 to 10th December 2010

Survey Size
60 Hong Kong People
Features and Characteristics of the credit card services

A credit card issued to users as a system of payment. It allows its card holder to buy goods and services based on the card holder's promise to pay for these goods and services.

The credit card Advantages

The main advantage to each customer is convenience. Compared to debit cards and cheque, a credit card allows short-term loans to be made to a customer who need not calculate a balance remaining before every transaction, provided the total charges

You May Also Find These Documents Helpful

  • Better Essays

    Concept Check 5-2 and 5-5

    • 500 Words
    • 2 Pages

    A credit card extends credit and delays your payment. A debit card electronically subtracts money from your savings or checking account to pay for goods and services.…

    • 500 Words
    • 2 Pages
    Better Essays
  • Good Essays

    It/205 Week 5 Checkpoint

    • 593 Words
    • 3 Pages

    There are many different types of payment systems, but the four major ones are Online Credit Card Payment System, Online Electronic Cash System, Electronic Check System and Smart Cards based Electronic Payment System. The key advantages to these systems vary from privacy, integrity, compatibility, good transaction efficiency, acceptability, convenience, mobility, low financial risk and anonymity, compared to the traditional method of payment systems. There are some feared concerns with the credit card system such as lack of authentication, repudiation of charges and credit card frauds, and also having to reveal credit information at…

    • 593 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Ever since the credit card was invented, the transactions were much easier compared to the pass as a swipe of the card would settle up the large payment instead of bringing large amount of cash which would have risk of getting rob. A credit card is a small plastic card which will be issued to the users as a system of payment in transactions. In 1950, the concept of using the same card for various payments was found out by Ralph Schneider and Frank X. McNamara, founders of Diners Club. How does it actually work? The issuer of the card will offers a line of credit to the consumer and allowing them to borrow money to pay up a merchant or known as a cash advance to the user.…

    • 755 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Credit cards are as American as apple pie. It seems that everyone has and uses credit cards every day. When Americans reach into their wallets at the end of a meal or at the grocery store checkout counter, they are pulling out credit cards more often than they are pulling out cash or check cards. Some say this is just for convenience and security, but the increasing number of bankruptcies and the current credit crisis point to something more serious. Most Americans misuse and abuse credit cards, which causes their own financial downfall.…

    • 1165 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Cash Versus Credit Cards

    • 1137 Words
    • 5 Pages

    Credit cards can be seen as a convenient piece of plastic that some Americans rely on for purchasing necessary and unnecessary items. Using them can most certainly simplify their lives if they do not have cash readily available when needed. Credit card users can benefit from using credit cards in many ways. Some benefits are reserving a vehicle and keeping a track record of expenses that appears on bank statements. When reserving a vehicle, the representative will allow a person to reserve the vehicle with a credit card, although at the time when the vehicle is returned, the representative will allow a person to pay with cash, but a credit card is needed to hold the reservation. Expenses can be budgeted each month with a credit card and an individual can acquire…

    • 1137 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Credit Card Debt

    • 670 Words
    • 3 Pages

    Many people use credit cards and most of the time the credit card is not used in the right moment.I believe that credit cards are not beneficial because they aren't used for the right things. It would be very different if they were used correctly, credit cards are to be used it case of an emergency,meaning not to be used when you are going to the 7-eleven to buy a bag of chips an a soda. It has shown that more than 75% percent of americans have been bankrupt or on the verge of it. There are more than 60% of americans that have credit card debt because they are using them for the wrong things. Facts have proven that the total U.S. credit card debt, is $793.1 Billion. and Average credit card debt per household is 15,799. Most people do not understand that when you have a credit card it comes with alot of responsibility and i say that because there are more than 10% of americans have been victims of credit card theft it may not seem like alot but credit card theft is a very serious thing. Most complaints come from adults within the ages 40-59, Nevada, Colorado, and New Hampshire have the highest rate of credit card fraud. Having a credit card is not what people think it is; people think that if i have a credit card then i do not have to have money with me, and its just free money but its very dangerous to have a credit card. Having a credit card can lead to bankrupt and going bankrupt can make you lose everything such as your car, house, and etc., or it could be worse an you could be placed in jail for a long time. Just because you had a credit card and used it for the wrong thing and spent way to much money...A credit card is nothing but trouble each and every type of way. The credit card companies and banks are getting richer, while most Americans are getting more in debt. The economy is in trouble, therefore, more and more people are relying on credit cards. In today's society we are constantly trying to get out of debt, but in the process of trying to get…

    • 670 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    In modern life people tend to use credit cards more than putting cash in their wallets. Also, cash is still used but not taken in big amounts that might cause insecurity. Both credit and debit card payments have been proven that they are safer and more convenient than cash payments, especially when it comes to the online purchases. In…

    • 375 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Credit cards can be a wise way to pay for things if one is confident in their abilities to make (at the very least the minimum) monthly payments. For a fee in the form of interest charges, it gives him or her access to a larger amount of money than they may have available and allows them to pay it back in smaller increments. Paying it back on time will help him or her to build credit. Access to a credit card is sometimes a necessity. For instance, if one has an urgent need for something, whether it is diapers, medicine, or a last minute “forgot our anniversary” gift, sometimes one just doesn’t have the cash on hand to make these purchases. Things like these usually tend to pop up before payday hits. The option of using credit to cover these purchases is often very necessary. The same goes for other sorts of predicaments like medical issues or emergencies, auto repair, or legal quandaries.…

    • 736 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Abstract: In recent years, economic pressures, heightened competition, rapid technological developments, and a decline in consumer purchasing power are paving the way for the change in global market for the credit card business. The aforementioned changes and transformations are also affecting credit card business and card issuers and users in developing countries as well. Despite the recent developments in technology and impediments to credit card usage in developed countries, one still observes the spread of credit card ownership and usage in advanced developing countries of Asia, Africa, Middle East, and Latin America. In recent years, as the demand for upscale and middle income markets has saturated there has been a scope for penetration of credit cards into less wealthy markets of these countries. Country like India faces the similar problem of acceptance of different brands of credit cards because of innovative features. Consumers’ attitude towards different brands of credit cards is being studied during the two periods (2002-05 & 2006-09) because of changing features. The number of dimensions considered for the first factor analysis was 14 (14 variables) during the period of 2002-05 and for second factor is 54 (54 variables) during the period of 2006-09. The demographic profile is different because of two sets of data has taken during two different timings. The changing attitude of Indian Customers can be thoroughly known through the factor analysis.…

    • 5406 Words
    • 22 Pages
    Powerful Essays
  • Satisfactory Essays

    Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by various bankers and other institutions in the market.…

    • 366 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    This report is the result of Timetric’s extensive market research covering the Credit Cards market in India. It contains detailed data on market dynamics along with latest industry happenings, industry players in India. "India Credit Cards: Market Update" provides a top-level overview and detailed insight into the operating environment of the Credit Cards market in India. It is an essential tool for companies active across the Indian Credit Cards value chain and for new players considering to enter the market.…

    • 440 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    for card issuers and merchants, and high-tech solutions as smart cards and mobile payment systems. Together these models may help preserve credit cards’ status as one of the most profitable segments of the payments industry.…

    • 3083 Words
    • 20 Pages
    Powerful Essays
  • Satisfactory Essays

    Credit cards do not require a connection with a savings or checking’s account. Credit cards require you pay a monthly fee; a monthly fee is a set payment each month. Not just anyone can receive a credit card and it can be difficult to get if you don’t have a good credit score. One has to be approved to receive a credit card. Once approved, one will receive a credit card which could help build credit. All credit cards have a credit limit set by the credit issuer. This could range from a $500 limit- $3,000 limit or even more, depending on one’s credit…

    • 370 Words
    • 1 Page
    Satisfactory Essays
  • Good Essays

    Credit Card

    • 1144 Words
    • 5 Pages

    A credit card is the only form of payment card that offers a revolving line of credit in addition to its function as a means of electronic payment. In contrast, charge cards as offered by American Express must be paid off monthly.…

    • 1144 Words
    • 5 Pages
    Good Essays

Related Topics