Consumer Perception and Attitude towards Credit Card Usage

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Consumer Perception and Attitude towards Credit Card Usage – with special reference to Warangal District

*Dr.CH. SRIKANTH VERMA

**Dr.CH. SATYANARAYANA REDDY

Abstract

A notable change in consumer financial services over the past few decades has been the

growth of the use of credit cards, both for payments and as sources of revolving credit. In

modern business, credit cards (along with debit cards) serve as a payment device in lieu of cash

or cheques for millions of routine purchases as well as for many transactions (for example,

making retail purchases by telephone or over the Internet) that would otherwise be inconvenient,

or perhaps impossible. The credit cards have also become the primary source of unsecured open-

end revolving credit, and they have largely replaced the instalment-purchase plans that were

important to enhance the sales volume at many retail stores in earlier decades. Indian credit card

market has been changing rapidly as its doors are opened to the global economy. As profit

opportunities are more, major credit card brands have been entering the Indian market. At the

beginning, the usage of credit cards had been very limited. They were used mostly in upscale

hotels, restaurants, retail stores and in major urban centers. However, later significant changes

occurred in Indian credit card market. Credit card ownership and usage have expanded very

rapidly in India. In this backdrop, there is need to study the consumer perception and attitude

towards credit cardholders in Warangal district.

Key Wards: Payments, Cash, Credit Card, Perception and Attitude.

*Assistant Professor, Department of Business Management, Post Graduate Centre,

Lal Bahadur College, S.P. Road, Warangal – 506007. E-mail: [email protected]

**Associate Professor and Head, Department of Commerce, Lal Bahadur College, S.P. Road,Warangal – 506007.


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Introduction:

The term “credit card” usually refers to a plastic card assigned to a cardholder, with a

credit limit, that can be used to purchase goods and services on credit or obtain cash advances.

Credit cards allow cardholders to pay for purchases made over a period of time, and to carry a

balance from one billing cycle to the next. Credit card purchases normally become payable after

a free credit period, during which no interest or finance charge is imposed. Interest is charged on

the unpaid balance after the payment is due. Cardholders may pay the entire amount due and

save on the interest that would otherwise be charged. Alternatively, they have the option of

paying any amount, as long as it is higher than the minimum amount due, and carrying forward

the balance.

Evolution of Credit Cards in India:

Credit mode of financial transaction was used in India around 3000 years ago. In the late

14th

century, the forerunners of bank notes, bill of exchanges were used to run with utmost

responsibility. Many financial related debts were settled down with one third of liquid cash and

two thirds of bill exchanges which perpetuated till the 17 th century. In the 19th century, a few

people in India, used to sell clothes, which were offered on weekly payments and the record was

maintained on small sticks as they were called as ‘Tallyman’. The stick was maintained with

notches and then was season with the record of payments. In the year 1920, shoppers plate was

also issued as a credit to Indian clothe customers and it was called as ‘buy now, pay later”

service. As India, was on a breach of independence, many rich Indians used to utilise this service

as they found it as affordable sources.

Till the year 1970, credit card services were running in full swing in USA and slowly

gripped the Indian markets. Progress in the Indian civilization has brought the radical changes in


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the financial dealings and its related cultures as well. The trading sector was revolutionized and

the need for something best or better intrinsically useful was in urgent requirement.

Indian financial dealings were not satisfied with the cash and coins dealings, as it formed

only one way of paying. Slow development in banking sector has witnessed paper instructions

mode of payment namely cheques or drafts. Then came plastic cards which are termed as

electronic payments and these are termed as credit cards. The introduction of the first credit card

is claimed by Central Bank of India, in 1980, by name, 'CentralCard'. These Credit cards are

offered to users, with a limit of spending and the cardholders are asked to pay it back with some

interest on time.

In 1981, Andhra Bank also introduced credit card facility to their bank customers in a

wider scope, it being a dynamic entry of credit cards in Indian banking industry. These Credit

cards have certain meaning, while producing them a certain amount of goods, services, or supply

are offered. In simple terms, credit cards are those which are offered to customers in order to

procure unsecured personal loan, offered by a bank, to fetch in some services and goods. The

credit limit is always offered with a payment date which is around 45 days.

Need of the Study:

Credit cards have become an indispensable part of modern day existence and no wonder

the last few years saw a sea change in the attitudes of people opting for this plastic currency.

Indian consumers are generally cautious in purchasing on credit. They display credit-averse

behavior. The 'pay now' feature of debit card discourages dependency on credit. It also helps in

better financial planning and control of purchases by consumers. A credit card encourages the

customers to “purchase now and pay later”, which is still not inculcated in Indian culture. Indians


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are still lacking behind the western countries in making use of credit cards. Hence, there is need

to study consumer perception and attitude towards credit cards usage in India.

Objective of the Study:

The main objective of the study is to examine the consumer perception and attitude

towards credit cardholders in Warangal district. It includes

1) To study the usage level of credit cardholders in Warangal District,

2) To assess the attitude towards credit cardholders in Warangal District and

3) To examine the perceptions of credit cardholders in Warangal district.

Scope of the study:

The present study makes an attempt to assess the perceptions and attitude of cardholders

towards credit cards in Warangal District. Its scope has been confined to 250 credit cardholders

from Warangal district. The study also attempts to measure the Demographic and Socio-

Economic Characteristics, Usage and Debt Payment Preference of credit cardholders in

Warangal District.

Source of Data and Methodology:

The study is based on Primary data. The primary data is collected by using questionnaire

technique. A well-designed questionnaire comprising scaling technique like Likert Model i.e.

five point scales have been used to collect the perception towards credit cardholders. The data

collected is analysed and interpreted by using statistical techniques such as averages, Chi-square

Test and Factor Analysis techniques are used. The data collected for the present study that the

features and benefits of credit cards issued by many banks are almost similar. In this regard, it is

decided to analyse credit cardholders’ opinions individually. The sample (Convenience Sampling


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Method) size taken for the study is 250 credit cardholders from (Table – 01: Selection of

Sample) Warangal distract.

Data Analysis:

To describe the Warangal consumer perception towards credit cards, descriptive research

was used. Due to the descriptive nature of this research, descriptive statistics of SPSS 16.0 for

Windows was used to find the answers of the research questions.

Demographic and Socio-Economic Characteristics:

Table 02 summaries the demographic and socio-economic characteristics of 250

respondents. An analysis of the socioeconomic characteristics of the respondents revealed that

males comprised 95 percent of the sample population. Of the total survey respondents, 55

percentages of the respondents are graduates, 25 percentages are below graduates and remaining

20 percentages are post graduates. Moreover, 77 percentage cardholders lie in the age group of

21-40 years. Around 21 percentages are in the age group of 41-60 years. The remaining 2

percentage are above 61 years. It is evident that 50 percentage respondents are Private

Employees, 18 percentage are Semi-Govt Employees, 13 percentage are Government

Employees, 12 percentage are Professionals, 6 percentage are Retired Employees and the

remaining are Businessmen.85 percentage respondents have an average annual income of below

` 2, 50,000, 13 percentage earn between ` 2, 50,001 – ` 5, 00,000 and very few are in the high

income group of ` 5,00,001 and above.

Usage and Attitude towards Credit Cards:

The little piece of plastic cards has transformed the way Indian consumers pay.

Generally, these cards are traditionally used only in the metros in India has now been introduced


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in tier II towns and cities, and is increasingly accepted in place of cash. In this backdrop, the

holding period of credit cards by the respondent was elicited through questionnaire. The relevant

data are presented in table 03. It can be seen from above data that 28% respondents have been

using credit card from 2 to 3 years, 27% are more than 4 years and 25% are from the 1 to 2 years.

Around 14% are 3 to 4 years and the remaining 6% less than 1 year. It is clear from the above

analysis that majority of the respondents are using their credit cards from 1 to 3 years because of

popularity of these cards in the present day situation.

Volume of expenditures that were made by using credit card constituted the significant

share of usage and attitude of the respondents. It plays a vital role in the purchase and

consumption behavior. Hence, the average annual expenditure of respondents are elicited and

shown in table 04. The data displays that, the proportion of expenditures that were made by

credit cards to average annual total expenditures. 64% of the respondents stated that up to 30 %

of their average annual expenditures are met by using credit cards. Around 23% of the

respondents declared that their credit card expenses constituted 31- 50% of their total expenses.

The reaming 13% of the respondents expressed that more than 51% of their expenditure is

cleared through credit cards. Above analysis indicates that the majority of the respondents were

using their credit cards for meeting up 30% of their expenditure due to the lack of sufficient

number of merchant outlets and high transaction cost.

Further, a cross analysis is made between average annual income of the respondents and

their average annual expenditure through credit card. The relevant data are presented in table 05.

The data reveals that the respondents with below ` 2, 50,000, 52% of the respondents stated that

up to 30% of their average annual expenditures was paid by using credit cards. Around 27%

respondents stated that 31- 50% and the remaining 21% opined that more than 51% of their


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expenditure is met through credit cards. In the ` 2, 50,001 – ` 5, 00,000 income group, 69%

respondents are using credit card in paying up to 30% of their average annual expenditures.

Further, around 20% are using these cards to pay 31-50% and the remaining 11% to pay more

than 51% of their expenditure. Out of the above ` 5, 00,001 income group, 53% respondents are

stated that up to 30 % of their average annual expenditure paid by using credit cards. 26% of

them to met 31-50% of their total expenditure and the remaining 21% for clearing more than

51% of their expenditure. Therefore, it can be concluded that most of the respondents belonging

to different income groups are using their credit cards for clearing up to 30% of their total

expenditure. Generally, most of the consumers’ are not possessing expected level of awareness

in utilising the credit cards to avail the different services offered by banks.

Chi-square Test: Further, an attempt is also made to test whether there is any significant

difference between average annual income and expenditure paid through credit cards.

Null Hypothesis (Ho): There is no significant difference among the respondents

belonging to different average annual income with regard to their expenditure were paid by using

credit card.

Test Calculated Value Table Value Degree of

Freedom Result

Chi – Square 7.939049314 9.49 4 Accepted (Ho)

Source: Compiled from table No.05.

The calculated value is less than the table value. Hence, the null hypothesis is accepted it

indicates that there is no significant difference among the respondents belonging to average

annual income with regard to their average annual expenditure.


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Attitude towards Credit Card Debt Payment Preference:

The credit card debt payments playing a significant role in the usage level of the

respondents. In this background, respondents were also asked how they make their credit card

debt payments. Their responses are tabulated and shown in table 06. The data indicates that 84%

of the respondents are preferred to make Complete Payment while they are making their credit

card debt payment for the specific billing period. Whereas, 12% of the respondents are decided

to Partial Payment and the 4% of the respondents are using it for Minimum Payment. Therefore,

it can be concluded that the majority of respondents are preferred to clear the total debt arising

out of usage of credit cards for the specific billing period to avoid the high interest, financial

charges and Annual Percentage Rate (APR).

The banks are providing the cardholders with different options for repayment of debt

arising out of its usage. This facility is extended to serve the purpose of customer convenience of

clearing debt. The relevant data elicited and presented in the table 07. It is clear from the above

data, out of the total respondents most of them i.e., 42% prefer to pay the debt through ATMs. It

is followed by Net -Banking (41%). 38% prefer to pay the cash over the counter. Drop-box

option is utilized by 36% of the respondents. The preference given is very less for VISA Money

Transfer (7%), Standing Instructions and National Electronic Funds Transfer (NEFT) (6% each).

Therefore, it can be concluded that the majority of the respondents prefer ATMs and Net-

Banking payment options in order to pay credit card debt. The reason is that it is convenient for

the cardholders to make payment through the above modes and to avoid pay specific visits to

banks.


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Perceptions ith regard to Credit Cards:

Perception of credit cardholders plays a significant role in determining the purchasing

behavior and attitude of the consumer towards the use and acceptability of credit cards. In this

perspective, an attempt is made to analyse the perceptions of credit cardholders. The collected

data tabulated and presented in table – 08. Factor Analysis has been used to identify cardholders’

most perceived credit card services provided by card issuers. In order to study the perception

levels regarding the services rendered by the banks fourteen statements have been considered.

They are Credit card allows purchases before funds are actually available, Credit cards provide

revolving credit facility, Interest rates charged on credit card are reasonable, Credit cards are

used anytime at most of the places, Acceptability procedure at retail outlets is easy, Free

insurance coverage makes card attractive, Added benefits in the form of discounts make the

purchase decision on credit card easier, Purchase of air ticket often provides travel insurance,

Tempted to overspend when they have credit card, Owning accredit card is a form of status

symbol, Are you satisfied with services provided by the credit card companies, There is regular

delivery of bill, They offer protection against loss/damage of purchased goods and Credit cards

annual fees are reasonable.

Table 09 gives the Initial Eigenvalues, Extraction Sums of Squared Loadings and

Rotation Sums of Squared Loadings explained by the factors. Out of the fourteen statements

influencing the perceptions towards credit cardholders the four groups of services put together

explain the total variance of these statements to the extent of 59.928%. In order to study the

variance contributed by the statements showing the various types of services factors are rotated.

The rotation increases the quality of interpretation of factors. There are several methods of the


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initial factor matrix to attain simple structure of data. The variance rotation is one of such

methods employed to obtain better result for interpretation.

The results given in table 10 depicts that four statements are contributing maximum

percentage variance. The Eight statements viz., Interest rates charged on credit card are

reasonable, Credit cards are used anytime at most of the places, Acceptability procedure at retail

outlets is easy, Free insurance coverage makes card attractive, Added benefits in the form of

discounts make the purchase decision on credit card easier, Purchase of air ticket often provides

travel insurance, Are you satisfied with services provided by the credit card companies and

Credit cards annual fees are reasonable grouped to gather as Factor - I which title as

‘Supplementary Services’ and account for 31.447% of the total variance of statements. The two

statements Credit card allows purchases before funds are actually available and Credit cards

provide revolving credit facility as Factor-II it titled as ‘Core Services’ and account for 11.616%

of the total variance of statements. The statements Owning a credit card is a form of status

symbol, There is regular delivery of bill statements and They offer protection against

loss/damage of purchased goods a constituted as ‘Supporting Services’ grouped together as

Factor – III and account for 8.960% of the total variance. They tempted to overspend when they

have credit card statements titled as ‘Other Services’ as Factor – IV and account for 7.899%.

Therefore, it can be concluded that the majority of the respondents are strongly agree with

“Supplementary Services” provided by the card issuers in the study area. These services are

motivating the credit cardholders to make use of such cards very frequently to satisfy their needs.


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Reference:

Ausubel, Lawrence M. 1991. The failure of competition in the credit card market. American Economic

Review, 81 (1): 50-81.

Dagobert, Brito L. and Hartley, Peter R. 1995. Consumer rationality and credit cards. Journal of Political

Economy, 103 (2): 400-433.Calem, Paul S. and Loretta, J. Mester. 1995. Consumer behavior and the stickiness of creditcard interest

rates. American Economic Review, 85 (5): 1327-1336.

Canner, Glenn B. and Luckett, Charles A. 1992. Developments in the pricing of credit card services.

Federal Reserve Bulletin, 78(9): 652-666.

Chakravorti, Sujit and Emmons, William R. 2001. Who pays for credit cards? Federal Reserve Bank of

Chicago, Policy Studies EPS: 2001-1.

The Reservie Bank of India. 2013. Extracted from website of www.rbi.org

Goyal, Anita. 2004. Role of supplementary services in the purchase of credit card services in India. Asia

Pacific Journal of Marketing and Logicsics, 4(1): 36-45.

Hayhoe, Celia Ray; Leach, Lauren J.; Turner, Pamela R; Bruin, Marilyn J. and Lawrence, Frances C. 2000.

Differences in spending habits and credit use of college students. Journal of Consumer Affairs, 34 (1):

113-133.

Kinsey, Jean. 1981. Determinants of credit card accounts: An application of Tobit analysis Journal of

consumer Research, (8): 179-180.

Bowers, Jeans. 1979. Consumer credit use by low income consumers who have had a consumer

education course: An exploratory study. The journal of consumer affairs, 13(2): 340-341.

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alternative payment and financing medium. The journal of Consumer Affairs, 36(2): 248.

Lee, Jinkook and Hogarth, Jeanne M. 1999. Returns to information search: Consumer credit card

shopping decision. Financial Counseling and Planning, 10(2): 23-34.

Paul, Peter J. and Olson, Jerry C. 1999. Consumer Behavior and Marketing Strategy, 5th ed., Boston,

Irwin, McGraw-Hill.

Minhas, Raj Singh and Jacobs, Everett M. 1996. Benefit segmentation by factor analysis: an improvedmethod of targeting customers for financial services. International Journal of Bank Marketing, 3-13.

Kazmi, Shabbir H. 2007. The growth of consumer Finance: cost is a major constraint. Pakistan and Gulf

Economist, XXVI(44):12.

Ghani, Shamsul. 2007. Credit cards: Financing or fleecing, Pakistan and Gulf Economist, XXVI(44): 14.

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Kim, Taehyung; Dunn, Lucia F., and Mumy, Gene E. 2005. Bank competition and consumer search over

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Whitesell, William C. 1992. Deposit banks and the market for payment media. Journal of Money, Credit

and Banking, 24(4): 246-250.

Worthington, Steve. 2001. Afiintity credit cards: a critical review. International Journal of Retail &

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http://www.rbi.org/http://www.rbi.org/


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Table – 01: Selection of Credit Cardholders

Bank No. of Respondents

HDFC Bank 102

ICICI Bank 60

Andhra Bank 50State Bank of India 28

Standard Chart Bank 06

Axis Bank 04

Total 250

Table – 02: Demographic and Socio-Economic Characteristics

Demographic and Socio-

Economic Characteristics Respondents Percentage

Gender-wi se Di stri bution Male 238 95

Female 12 05

Total 250 100

Age-wise Di stri bution

21 – 40 192 77

41 – 60 42 21

Above 61 06 02

Total 250 100

Level of Education

Below Graduation 62 25

Graduation 138 55Above Graduation 50 20

Total 250 100

Occupation Profile

Government Employee 32 13

Private Employee 126 50

Semi-Govt. Employee 46 18

Business 02 01

Professional 30 12

Retired Employee 14 06

Total 250 100Average Annu al In come

Below ` 2,50,000 212 85

` 2,50,001 – ` 5,00,000 34 13

Above ` 5,00,001 4 2

Total 250 100

Source: Primary Data.


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Table – 03:

Have Been Using Credit Cards by Respondents

Have Been Using Respondents %

Less than 1 year 14 6

1 to 2 years 62 25

2 to 3 years 70 28

3 to 4 years 36 14

More than 4 years 68 27

Total 250 100


Table – 04:

Expenditure through Credit Cards by Respondents

Expenditure Respondents %

Up to 30% 160 64

31% to 50% 58 23

More than 51% 32 13

Total 250 100

ource Primary Data.

Table – 05

Average Annual Income Vs Expenditure through Credit Cards

Income Level Expenditure through Credit Card

TotalUp to 30% 31% to 50% More than 51%

Below ` 2,50,000 34

(52%)

18

(27%)

14

(21%)66

(100%)

` 2, 50,001 – ` 5, 00,000. 100

(69%)30

(20%)16

(11%)146

(100%)

Above ` 5,00,00120

(53%)

10

(26%)

8

(21%)38

(100%)

Total

160

(64%)

58

(23%)

32

(13%)

250

(100%)

ource Primary Data.


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Table – 06:

Credit Card Debt Payment Preference

Credit Card Debt Payment Respondents %

Minimum Payment 10 4

Partial Payment 30 12

Complete Payment 210 84

Total 250 100


Table –07:

Mode of Credit Card Debt Payment

Sources of Payments Responses

Through ATMs 104 (42%)

Through Net-Banking 102 (41%)

VISA Money Transfer 18 (7%)

Standing Instructions 16 (6%)

National Electronic Funds Transfer(NEFT) 14 (6%)

Drop-box option 90 (36%)

Over the counter(cash) 96 (38%)



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Table – 08: Assessment of Perception towards Credit Cards

Statements SA A NN DA SDA

Credit card allows purchase before funds areactually available

50(20%)

138(55%)

34(14%)

20(8%)

8(3%)

Credit cards provide revolving credit facility 26

(10%)162

(65%)30

(30%)24

(10%)8

(3%)

Interest rates charged on credit card arereasonable

22(9%)

134(54%)

40(16%)

46(18%)

8(3%)

Credit cards are used anytime at most places 22

(9%)116

(46%)32

(13%)58

(23%)22

(9%)

Acceptability procedure at retail outlets is easy 28

(11%)

136

(54%)

32

(13%)

44

(18%)

10

(4%)

Free insurance coverage makes card attractive 18

(7%)90

(37%)38

(15%)48

(19%)56

(22%)

Added benefits in the form of discount make

the purchase decision on credit card easier

34

(14%)

98

(39%)

40

(16%)

40

(16%)

38

(15%)

Purchase of air ticket often provides travel

insurance

28

(11%)

92

(38%)

26

(10%)

48

(19%)

56

(22%)

Tempted to overspend when they have creditcard

14(6%)

72(29%)

36(14%)

50(20%)

78(31%)

Owning a credit card is a form of status

symbol

14

(6%)

90

(36%)

38

(15%)

50

(20%)

58

(23%)

Are you satisfied with services provided by thecredit card companies

52(21%)

138(55%)

42(17%)

6(2%)

12(5%)

There is regular delivery of bill statement 54

(22%)

122

(49%)

40

(16%)

16

(6%)

18

(7%)

They offer protection against loss/ damage of

purchased goods

70

(28%)

136

(54%)

12

(5%)

16

(6%)

16

(6%)

Credit card annual fees are reasonable 22(9%)

114(46%)

40(16%)

56(22%)

18(7%)



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Table 09: Total Variance Explained

Initial

Eigenvalues

Extraction Sums of

Squared Loadings

Rotation Sums of

Squared Loadings

Total % of

Variance

Cumulative

% Total

% of

Variance

Cumulative

% Total

% of

Variance

Cumulative

%

4.403 31.447 31.447 4.403 31.447 31.447 3.323 23.736 23.7361.626 11.616 43.063 1.626 11.616 43.063 1.919 13.705 37.441

1.255 8.966 52.029 1.255 8.966 52.029 1.686 12.043 49.484

1.106 7.899 59.928 1.106 7.899 59.928 1.462 10.445 59.928

.955 6.824 66.752

.866 6.189 72.941

.782 5.584 78.525

.725 5.179 83.704

.585 4.180 87.885

.406 2.902 90.786

.401 2.862 93.648

.371 2.652 96.300.312 2.229 98.529

.206 1.471 100.000Source: Compiled from table No. 08.

*Extraction Method: Principal Component Analysis.

Table – 10: Rotated Component Matrix

Statements Components

1 2 3 4

Credit card allows purchase before funds are actually available .751

Credit cards provide revolving credit facility .866

Interest rates charged on credit card are reasonable .565Credit cards are used anytime at most places .822

Acceptability procedure at retail outlets is easy .620

Free insurance coverage makes card attractive .630

Discount make the purchase decision on credit card easier .598

Purchase of air ticket often provides travel insurance .629

Tempted to overspend when they have credit card .827

Owning a credit card is a form of status symbol .836

Services provided by the credit card companies .706

There is regular delivery of bill statement .590

They offer protection against loss/ damage of purchased goods .598

Credit card annual fees are reasonable .511

Source: Compiled from table No.8.

*Extraction Method: Principal Component Analysis.

*Rotation Method: Varimax with Kaiser Normalization.

*Rotation converged in 8 iterations.


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7. Since how long have you been using credit card?

1)Less than 1 year

2) 1 to 2 years

3)2 to 3 years4)3 to 4 years

5) More than 4 years

8. What is your credit card debt payment preference?

1)Minimum Payment

2)Partial Payment

3)Complete Payment

9. What is you mode of credit card debt payment preference?

1)Through ATMs

2)Through Net-Banking

3)VISA Money Transfer

4)Standing instructiuons

5)National Electronic Funds Transfer (NEFT)

6)Drop-box option

7)Over the counter (Cash)

10. What proportion of your expenditure is met through using the creditcards?

1)Up to 30%

2)31% -50%

3)More than 51%


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11. Indicate your assessment towards the following

Note:-

1) Strongly Agree

2) Agree

3) Neither Agree nor disagree4) Disagree

5) Strongly Disagree

(Tick the appropriate column)

S.No

Statements 1 2 3 4 5

1 Credit card allows purchase before funds are actually available

2 Credit cards provide revolving credit facility

3 Interest rates charged on credit card are reasonable

4 Credit cards are used anytime at most places

5 Acceptability procedure at retail outlets is easy

6 Free insurance coverage makes card attractive

7 Added benefits in the form of discount make the purchase

decision on credit card easier

8 Purchase of air ticket often provides travel insurance

9 Tempted to overspend when they have credit card

10 Owning a credit card is a form of status symbol

11 Are you satisfied with services provided by the credit card

companies

12 There is regular delivery of bill statement

13 They offer protection against loss/ damage of purchased

goods

14 Credit card annual fees are reasonable

15 Any other (Specify)

Consumer Perception and Attitude towards Credit Card Usage

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