Dynamics of credit card system: A Core Business Approach in Today's Bankers

During the last one decade, there has been an exponential growth in the credit cards issuance and usage among the people. Today the credit card segment is highly competitive with almost all the banks offering credit cards in association with international or master card. Every bank is trying to gain a market share with aggressive promotional activities and additional value-added services. The present study investigates the factors that are essential in influencing the decisionmaking styles of mid-age family of eastern India. For this purpose, Factor analysis which is the most appropriate multi-variate technique has been used to identify the groups of determinants. Factor analysis identifies common dimensions of factors from the observed variables that link together the seemingly unrelated variables and provides insight into the underlying structure of the data. This study gives an insight to lure customers towards credit.