Assessment of Features and Market Segmentation of the Credit Card Industry in Malaysia

Abstract

To operate successfully in this credit card industry, various kinds of credit cards are offered to distinct user groups. This empirical study is conducted in Malaysia, and it examines the features of different types of credit card available. By using descriptive and one-way ANOVA test, this study analyses data of 234 credit cards which were collected from ringgitplus.com and imoney.my websites. The cards are categorised based on the usage purpose like airline tickets, insurance, dining, entertainment, fuel, lifestyle, groceries, shopping, utilities healthcare and general use. In total thirteen features are analysed for all of these cards. The findings show there is no significant difference in the purpose of cards based on the features of interest and profit rate, balance transfer annual charge, annual fees, annual fees for supplementary card, late payment, late payment maximum fees, cash withdrawal charges fees, minimum annual income, minimum age for primary cards, maximum age for primary cards, and minimum age for supplementary cards. However, only two features are statistically significant among the cards, these being cash back and interest rate on cash withdrawal. The findings will provide important insights for business managers, credit card users, and other policymakers regarding features and market segmentation in the credit card industry in Malaysia.

Do the Learners are inclining towards the student credit card scheme? the reality and its prospect

“…Due to the lack of these issues, confidence and responsible behaviour of the students are not reflected in their attitude regarding credit card use. A study on employees of Malaysian institutions of higher learning found that college students generally hold positive attitudes towards credit card usage (Alam et al, 2022). A study revealed Bihar, India by Verma et al, (2019) where the loan for just one course is insufficient to support additional academic success.…”