Card Sheet

Credit Card Comparison Sheet 1
Credit Card Comparison Sheet
Denis Panayotov Denis.Panayotov@gmail.com 03.12.2010
When talking about credit cards, the first thing that comes to mind is usually the interest rate and credit limit they have. The following research is a bit more complex than that and its aimed towards finding the medium value or statistical mean for all the revolving credit cards on the Bulgarian market. The purpose of this research is to compare the products of one company with the medium value for their category. The hypothesis is that the products of iCard are better than the statistical mean, in their respected credit card class. The requirement for entering the research is for a company to offer a revolving, international credit card that operates in at least two currencies. The initial search, supported by information from MasterCard.bg, Visa.bg, and moitepari.bg led to the conclusion that there are 18 main companies that offer the credit cards needed for the research. The search also dictates that there are five different companies that produce and manage credit cards: MasterCard(MC), Visa, American Express(AMEX), Diners, and Transcard. Each of the companies listed below works with at least one of these firms. After gathering all the required information, 18 different categories of statistics began to form. They are about comparing the credit cards in the research by their:
nterest rates (both)
eekly limit purchase T
otal credit limit
o-Branding Company D
aily limit - cash
nual service fee D
aily limit - purchase
nual service fee - additional card W
eekly limit - cash
ithdrawal tax ATM
ithdrawal tax POS
race Period
Each of these categories is presented in a two-part table below. All categories are presented in two 17x18 tables. The total number of credit cards is 104. iCards products are not included in any table, because their presence may affect the outcome of the research. A legend on how to read some of the symbols in the tables is included at the top of page 9.

Master Card Standar t 15,75 18 17,8 17 17,9 15 15,75 17,5 17,9 18 18,64 19,2 18,64 19,2 18,64 19,2 18 17,5 18,4 17,57 16,81 18,60 17,70 17,54 16,8 18,4 16,93 18,4 18,55 20,40 19,00 17,60 17,27 19,00 18,50 17,64 15,75 14,49 17,52 17,9 16,9 18,64 19,2 18,64 19,2 20,4 19 17 18 19 17,64 17,64 18,64 19,2 15,75 16,5 17,9 16,9 18,5 15,75 14,75 16,5 14,75 Master Card Planitu m 17,95 AME X Classi c Master Card Cobrand 17,95 14,75 11,75 13,8 13,8 17 18
Company Name DSK Bank Allianz Bank Pireos Bank Raiffeisenbank MKB Unionbank Cibank Emporiki Bank Central Cooperative Bank United Bulgarian Bank Eurobank Alpha Bank First Investment Bank Unicredit Bulbank ProCredit Bank TBI Credit Societe Generale Invest Bank Transcard Mid. Value
Visa Classic
Visa Gold 17,95
Visa Platinu m 17,95
Visa Electro n
Maste r Card Gold 17,95 14,75 18 16,8 14 15,9
Diners Classi c
Diner s First Lady
AME X Gold
AMEX Platinu m
Amex Eurolin e
Diner s Cobrand
Visa Cobrand
Visa Busines s Classic
15,75 18 17,8 17 17,9 17 15,75 16,5 17,9 18 18,64 19,2 19
14,75 18 16,8 14
Figure 1.1: Comparing credit cards by their interest rate for purchases.
Company Name DSK Bank Allianz Bank Pireos Bank Raiffeisenbank MKB Unionbank Cibank Emporiki Bank Central Cooperative Bank United Bulgarian Bank Eurobank Alpha Bank First Investment Bank Unicredit Bulbank ProCredit Bank TBI Credit Societe Generale Invest Bank Transcard Mid. Value 14,82 17,26 15,64 17,95 17,95 17,95 17,95 21,95 15,75 16,75 16,75 18,4 18,5 18,50 15,7 15,70 18,5 18,50 18,5 18,50 15,7 15,70 15,7 15,70 15,64 18,64 19,2 15,64 16 14 14,75 18 15,8 Visa Business Gold Master Card Business Standart Master Card Business Gold Visa M-tel Silver 17,95 Visa M-tel gold 17,95 Visa Galax y 17,95 Master Card Galaxy 17,95 Maxi Card 21,95 15,75 16,75 16,75 Smart Portfe l ING Visa classic ING Visa Gold Transcar d classic Transcar d Gold Transcard MasterCard Unembossed Transcard MasterCard Standart Transcard MasterCard Gold Transcar d JCB Gold
Figure 1.2: Comparing credit cards by their interest rate for purchases. Most of the companies offer different interest rates for withdrawals and purchases.
Company Name DSK Bank Allianz Bank Pireos Bank Raiffeisenbank MKB Unionbank Cibank Emporiki Bank Central Cooperative Bank United Bulgarian Bank Eurobank Alpha Bank First Investment Bank Unicredit Bulbank ProCredit Bank TBI Credit Societe Generale Invest Bank Transcard Mid. Value 18,43 17,49 19,20 18,70 18,60 17,78 19,90 20,40 19,00 18,27 17,27 19,00 18,90 19,44 17,25 15,94 18,76 Visa Classic Visa Gold 17,95 16,75 18 16,8 16 15 15,75 18,5 18,9 19 20,44 19,2 20,44 19,2 Visa Platinu m 17,95 18,75 18 17,8 19,4 17,9 15,75 18,5 Visa Electro n Master Card Standar t Maste r Card Gold 17,95 16,75 18 16,8 16 15,9 15,75 18,9 20,44 19,2 18 17,5 22 20,44 19,2 20,44 19,2 20,4 19 17 16,9 18 19 18,9 19,44 19,44 20,44 19,2 Master Card Planitu m 17,95 Diners Classi c Diner s First Lady AME X Classic AME X Gold AMEX Platinu m Amex Eurolin e Diner s Cobrand Master Card Cobrand 17,95 11,75 17,8 16,75 18 19,4 Visa Cobrand Visa Business Classic
18,75 18 17,8 19,4 17,9 17 15,75 18,5 18,9 19 20,44 19,2 19
17,8
14,75 18,5
14,75
16,8 22
18,9 22
16,9
Figure 2.1: Comparing credit cards by their interest rate for withdrawals.

Master Card Business Standart Master Card Business Gold Maste r Card Galax y
Company Name
Visa Busines s Gold
Visa M-tel Silver
Visa M-tel gold
Visa Galax y
Maxi Card
Smart Portfe l
ING Visa classic
ING Visa Gold
Transcar d classic
Transcar d Gold
Transcard MasterCard Unembossed
Transcard MasterCard Standart
Transcard MasterCard Gold
Transcar d JCB Gold

DSK Bank Allianz Bank Pireos Bank Raiffeisenbank MKB Unionbank Cibank Emporiki Bank Central Cooperative Bank United Bulgarian Bank Eurobank Alpha Bank First Investment Bank Unicredit Bulbank ProCredit Bank TBI Credit Societe Generale Invest Bank Transcard Mid. Value 16,72 18,31 17,44 17,95 17,95 17,95 17,95 21,95 18,75 17,75 17,75 17,95 16,75 18 15,8 16 17,95 17,95 17,95 21,95 18,75 17,75 17,75
16
17,44
20,44 19,2
17,44
22 18,5 18,50 15,7 15,70 18,5 18,50 18,5 18,50 15,7 15,70 15,7 15,70
Figure 2.2: Comparing credit cards by their interest rate for withdrawals.
Company Name DSK Bank Allianz Bank Pireos Bank Raiffeisenbank MKB Unionbank Cibank Emporiki Bank Central Cooperative Bank United Bulgarian Bank Eurobank Alpha Bank First Investment Bank Unicredit Bulbank ProCredit Bank TBI Credit Societe Generale Invest Bank Transcard Mid. Value 10231 36000 106667 8000 10950 38889 106667 ####### ###### 10000 40000 150000 10000 #DIV/0! 8750 21750 32000 Visa Classi c Visa Gold 120000 20000 50000 20000 20000 20000 20000 10000 6000 10000 20000 60000 50000 150000 Visa Platinum 120000 20000 10000 3500 6000 10000 20000 10000 10000 10000 10000 10000 ! ! 20000 60000 50000 150000 ! ! 10000 50000 20000 150000 10000 ! 10000 50000 50000 Visa Electron Master Card Standart Master Card Gold 120000 20000 50000 20000 20000 20000 20000 Master Card Planitum 120000 Diners Classic Diners First Lady AME X Classi c AME X Gold AMEX Platinum Amex Euroline Diners Co-brand Master Card Cobrand 7000 50000 7000 20000 20000 20000 Visa Cobrand Visa Business Classic
20000 10000 7000 6000 10000 5000 20000 10000 10000 5000 10000 10000 10000
7000
11000 10000
20000
! !
10000 !
50000 !
Figure 3.1: Comparing credit cards by their credit limit in leva.

Company Name DSK Bank Allianz Bank Pireos Bank Raiffeisenbank MKB Unionbank Cibank Emporiki Bank Central Cooperative Bank United Bulgarian Bank Eurobank Alpha Bank First Investment Bank Unicredit Bulbank ProCredit Bank TBI Credit Societe Generale Invest Bank Transcard Mid. Value 50000 30000 50000 12000 120000 120000 120000 7000 20000 10000 50000 Visa Business Gold Master Card Business Standart 20000 20000 20000 50000 Master Card Business Gold Visa M-tel Silver 12000 Visa M-tel gold 120000 Visa Galaxy 120000 Master Card Galaxy 120000 Maxi Card 7000 20000 10000 50000 Smart Portfel ING Visa classic ING Visa Gold Transcar d classic Transcar d Gold Transcard MasterCard Unembossed Transcard MasterCard Standart Transcard MasterCard Gold Transcard JCB Gold
20000
50000
50000 50000
50000
! 8000 8000 8000 8000 1000 1000 20000 20000 20000 20000 20000 20000
Figure 3.2: Comparing credit cards by their credit limit in leva.
Every company dictates its own credit policy and credit limits. The numbers above represent the maximum possible limits for each credit card, but that doesnt mean that every customer gets the maximum possible credit limit.
Company Name DSK Bank Allianz Bank Pireos Bank Raiffeisenbank MKB Unionbank Cibank Visa Classic Visa Gold 1000 3200 5000 3000 6000 Visa Platinu m 5000 3000 2000 1500 3000 3000 Visa Electro n Master Card Standar t Maste r Card Gold 1000 3200 5000 3000 6000 5000 Master Card Planitu m 5000 Diners Classic Diners First Lady AME X Classic AME X Gold AMEX Platinu m Amex Eurolin e Diners Cobrand Master Card Cobrand 400 50000 1500 3000 4000 3000 Visa Cobran d Visa Business Classic
3000 2000 1500 3000 3000
1500

Emporiki Bank Central Cooperative Bank United Bulgarian Bank Eurobank Alpha Bank First Investment Bank Unicredit Bulbank ProCredit Bank TBI Credit Societe Generale Invest Bank Transcard Mid. Value 3246 5970 25000 2700 4500 6720 20750 ###### # ##### # 700 2000 #DIV/0! 400 #DIV/0 ! 2725 16875 13600 700 4000 5000 1000 1000 10000 4000 4000 1500 6000 5000 400 4000 20000 10000 50000 20000
4000 5000
6000 1000 2000 % % 400 %
4000 5000
6000
10000 4000 10000 % 4000
20000 10000
50000 20000
10000
50000 8000
% 8000
400 8000
2000
Figure 4.1: Comparing credit cards by their daily withdrawal limit in Bulgaria.
Visa Business Gold
Master Card Business Standart 3000 4000 2500
Master Card Business Gold
Visa M-tel Silver 1000
Visa M-tel gold 1000
Visa Galaxy 1000
Master Card Galaxy 1000
Maxi Card 400
Smart Portfel
ING Visa classic
ING Visa Gold
Transcar d classic
Transcar d Gold
Transcard MasterCard Standart
Transcard MasterCard Gold
Transcard JCB Gold
3000 2000 5000
6000
6000
5000
5000 8000
5000
4000 % 5500 4643 5000 1000 1000 1000 1000 400 3000 2000 5000 #DIV/0! % #DIV/0! % #DIV/0! % #DIV/0! % #DIV/0! % #DIV/0!
Figure 4.2: Comparing credit cards by their daily withdrawal limit in Bulgaria.
Visa Classic
Visa Gold 9000 8000 % 6000 10000 5000 14000
Visa Platinu m 25000
Visa Electro n
Master Card Standar t 6000 % 2500 5000 1000 3000 10000
Maste r Card Gold 9000 8000 % 6000 10000 10000 14000
Master Card Planitu m 25000
Diners Classi c
Diner s First Lady
AME X Classic
AME X Gold
AMEX Platinu m
Amex Eurolin e
Diner s Cobrand
Master Card Cobrand 5000
Visa Cobrand
Visa Business Classic
6000 % 2500 5000 1000 3000 3000 10000 10000 5000 10000 10000 6000
2500
50000 2500
6000 % 5000
10000 6000 10000 20000 20000 50000 40000
3000 10000 10000 50000 % % 10000 100%
14000
10000 10000 10000 % 6000
20000 20000
50000 40000
100%
100%
10000
50000 26000
% 12000 12111
% 16000 32750 1 1 10000
5958
11333
38333
8000
6350
50000
#DIV/0!
10000
5125
19125
21750
Figure 5.1: Comparing credit cards by their daily purchase limit in Bulgaria.
Company Name DSK Bank Allianz Bank Pireos Bank Raiffeisenbank MKB Unionbank Cibank Emporiki Bank Central Cooperative Bank United Bulgarian Bank Eurobank Alpha Bank First Investment Bank Unicredit Bulbank Visa Business Gold Master Card Business Standart 3000 4000 2500 6000 Master Card Business Gold Visa M-tel Silver 1000 Visa M-tel gold 1000 Visa Galax y 1000 Master Card Galaxy 1000 Maxi Card 400 3000 2000 5000 Smart Portfe l ING Visa classic ING Visa Gold Transcar d classic Transcar d Gold Transcard Master Card Unembossed Transcard Master Card Standart Transcar d Master Card Gold Transcar d JCB Gold
6000
5000
5000 8000
5000

ProCredit Bank TBI Credit Societe Generale Invest Bank Transcard Mid. Value 5500 4643 5000 1000 1000 1000 1000 400 3000 2000 5000
4000 % #DIV/0! % #DIV/0! % #DIV/0! % #DIV/0! % #DIV/0! % #DIV/0!
Figure 5.2: Comparing credit cards by their daily purchase limit in Bulgaria.
Visa Classic
Visa Gold % 6800 35000 5000 12000 10500 16000
Visa Platinu m %
Visa Electro n
Master Card Standar t 5000 14000 2500 6000 2000 4000 5000
Maste r Card Gold % 6800 35000 5000 12000 10000 16000
Master Card Planitu m %
Diners Classi c
Diners First Lady
AME X Classi c
AME X Gold
AMEX Platinu m
Amex Eurolin e
Diners Cobrand
Master Card Cobrand %
Visa Cobrand
5000 14000 2500 6000 2000 4900 4000 5000 7000 5000 10000 7000 6000
2500
50000 2500
5000 24000 6000
5000 2800 10000 20000 10000 50000 30000
4000 5000 7000 14000 % 1500 2800 %
16000
10000 7000 10000 % 6000
20000 10000
50000 30000
2100
10000
50000 14000
% 14000 14311
% 16000 32000 2100 ##### # 7000
6031
13922
40000
3900
6500
14000
1500
2800
#DIV/0 !
3833
19625
19800
Figure 6.1: Comparing credit cards by their weekly withdrawal limit in Bulgaria.
Visa Business Gold
Master Card Business Standart
Master Card Busines s Gold
Visa M-tel Silver %
Visa M-tel gold %
Visa Galaxy %
Master Card Galaxy %
Maxi Card %
Smart Portfel
ING Visa classic
ING Visa Gold
Transcar d classic
Transcar d Gold
Transcar d Master Card Standart
Transcar d Master Card Gold
Transcard JCB Gold
5000 24000 4000 12000
5000 14000 35000
12000
50000
50000 14000
50000
6000 % 31000 16429 50000 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 5000 14000 35000 #DIV/0! % #DIV/0! % #DIV/0! % #DIV/0! % #DIV/0! % #DIV/0!
Figure 6.2: Comparing credit cards by their weekly withdrawal limit in Bulgaria.
Company Name DSK Bank Allianz Bank Pireos Bank Raiffeisenbank MKB Unionbank Cibank Emporiki Bank Central Cooperative Bank United Bulgarian Bank Eurobank Alpha Bank First Investment Bank Unicredit Bulbank ProCredit Bank TBI Credit Societe Generale Invest Bank Transcard Mid. Value 7333 17000 55000 8000 7600 18250 44667 1 1 10000 50000 #DIV/0! 10000 1 6000 21000 25500 Visa Classic Visa Gold % 10000 % 10000 16000 20000 20000 10000 6000 10000 20000 30000 50000 60000 Visa Platinu m % 8000 % 4000 8000 4000 4000 10000 Visa Electro n Master Card Standar t Maste r Card Gold % 10000 % 10000 16000 20000 20000 10000 10000 10000 10000 % 8000 20000 30000 50000 60000 100% 100% % 50000 % % 10000 100% 10000 50000 36000 Master Card Planitu m % Diners Classi c Diner s First Lady AME X Classic AME X Gold AMEX Platinu m Amex Eurolin e Diner s Cobrand Master Card Cobrand % 50000 4000 8000 % 8000 Visa Cobrand Visa Business Classic
8000 % 4000 8000 4000 5000 4000 10000 10000 5000 10000 10000 10000
4000
4000 10000
20000
% 20000
% 24000
Credit Card Comparison Sheet 9 Figure 7.1: Comparing credit cards by their weekly purchase limit in Bulgaria.
Visa Business Gold
Master Card Business Standart 8000 % 8000
Master Card Business Gold
Visa M-tel Silver %
Visa M-tel gold %
Visa Galax y %
Master Card Galaxy %
Maxi Card %
Smart Portfe l
ING Visa classic
ING Visa Gold
Transcard classic
Transcar d Gold
Transcard Master Card Unembossed
Transcard Master Card Gold
Trans card JCB Gold
8000 % %
16000
16000
50000
50000 36000
50000
8000 % 33000 21000 50000 #DIV/ 0! #DIV/ 0! #DIV/ 0! #DIV/0! #DIV/ 0! 8000 #DIV/ 0! #DIV/ 0! #DIV/0! % #DIV/0! % #DIV/0! % #DIV/0! % #DIV/0! % #DIV/ 0!
Figure 7.2: Comparing credit cards by their weekly purchase limit in Bulgaria.
All the numbers stated from table 4.1 to table 7.2 are dictated by the credit department of the respected company and are subject to change.
Company Name DSK Bank Allianz Bank Pireos Bank Raiffeisenbank MKB Unionbank Cibank Emporiki Bank Central Cooperative Bank United Bulgarian Bank Eurobank Alpha Bank First Investment Bank Unicredit Bulbank ProCredit Bank TBI Credit Societe Generale Invest Bank Transcard Mid. Value 22 50 117 13 23 57 139 30 100 41 91 308 15 25 15 44 29 Visa Classic Visa Gold 45 50 50 44 12 50 98 12,5 12,5 50 50 50 125 100 Visa Platinum 125 20 25 20 15 20 24 24 Visa Electron Master Card Standar t Master Card Gold 45 50 50 44 12 50 98 22,5 20 25 19 23,25 36 50 50 125 100 30 100 77 60 154 308 15 25 17,5 20 50 Master Card Planitum 125 Diners Classi c Diners First Lady AMEX Classic AMEX Gold AMEX Platinum Amex Euroline Diners Cobrand Master Card Cobrand 15 125 22 30 30 15 Visa Cobrand Visa Business Classic
20 25 20 15 20 20 24 24 22,5 22,5 20 25 25
12
12 19
12
80 96
22,5 204
60
Figure 8.1: Comparing credit cards by their annual service fee in euro.
Company Name DSK Bank Allianz Bank Pireos Bank Raiffeisenbank MKB Unionbank Cibank Emporiki Bank Central Cooperative Bank United Bulgarian Bank Eurobank Alpha Bank First Investment Bank Unicredit Bulbank ProCredit Bank TBI Credit Societe Generale Invest Bank Transcard Mid. Value 43 37 50 10 10 20 20 0 30 50 25 Visa Business Gold Master Card Business Standart 30 30 35 35 Master Card Busines s Gold Visa M-tel Silver 10 Visa M-tel gold 10 Visa Galax y 20 Maste r Card Galax y 20 Maxi Card 0 30 50 25 Smart Portfe l ING Visa classic ING Visa Gold Transcar d classic Transcar d Gold Transcard Master Card Unembossed Transcar d Master Card Standart Transcard Master Card Gold Transcar d JCB Gold
48
50
20 50
50
48 12 12 18 18 18 18 25 25 50 50 30 30
Figure 8.2: Comparing credit cards by their annual service fee in euro.

Master Card Standar t 20 12,5 10 20 20 Master Card Planitu m 75 60 24 30 15 Master Card Cobrand
Visa Classic
Visa Gold 25 50 17,5 25
Visa Platinu m 75
Visa Electro n
Maste r Card Gold 25 50 17,5 25 50
Diners Classi c
Diner s First Lady
AME X Classic
AME X Gold
AMEX Platinu m
Amex Eurolin e
Diner s Cobrand
Visa Cobrand
20 12,5 10 20 10
21
10 10 10 18
5 25 25 35 75 75 10 18 25 35 75 75 20 100
10 38
20 77 20 20 35
10 36 13 28 75 5 18 96 40 204 107 20 100 19
20
39
#DIV/0!
#DIV/0!
20
21
42
25
Figure 9.1: Comparing credit cards by their additional card annual service fee in euro.
Visa Business Gold
Master Card Business Standart 30 15 46
Master Card Busines s Gold
Visa M-tel Silver 0
Visa M-tel gold 0
Visa Galaxy 10
Master Card Galaxy 10
Maxi Card 0
Smart Portfel
ING Visa classic
ING Visa Gold
Transcar d classic
Transcar d Gold
Transcard Master Card Unembossed
Transcar d Master Card Gold
Transcard JCB Gold
30 8 16
50
20 35
50
48 50 32 50 0 0 10 10 0 30 8 16 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Figure 9.2: Comparing credit cards by their additional card annual service fee in euro.
Most of the credit card holders dont actually use their cards or use them in a way that doesnt generate interest. This and the service costs are the two main reasons why companies have developed the annual service fee. The additional credit card is a card that shares the same credit limit as the main one, and in some of the cases shares the fee as well. Legend: ! value is calculated individually % value is calculated on the basis of the credit limit Grey Cell undetermined or not applicable #DIV/0! or ##### mid. value cannot be calculated
branded for the company 1. + 3% 2 . 3% 1,50% 2 . 1. + 1% 1,50% 2 . 3% 3% 3. +1% 3. +1% 3. +1.5% 4 . + 1% 1.5% 1 . 2 . 2 . + 1% 1.44 . + 1,28%
branded for another company 2. + 3% 6. + 1,5% 3% 1,50% 4 . 2. + 1% 1,50% 2 . 3% 3% 3. +1% 3. +1% 6. +1% 4 . + 1% 1.5% 2 . 6. +1% 5 . + 3% 2.50 . + 1,83%
An ATM Abroad 10. + 3% 6. + 1,5% 3% 3% 6 . + 1% 5. +1% 3% 6. + 1% 3% 3% 10. +1% 10. +1% 7. +2,5% 10 . + 1% 3% 5 . +2% 6. +1% 5 . + 3% 4,78 . + 3,39%
Figure 10: Comparing credit cards by their fee for cash withdrawals from ATM devices.
Company Name DSK Bank Allianz Bank Pireos Bank Raiffeisenbank MKB Unionbank Cibank Emporiki Bank Central Cooperative Bank United Bulgarian Bank Eurobank Alpha Bank First Investment Bank Unicredit Bulbank ProCredit Bank TBI Credit Societe Generale Invest Bank Transcard Mid. Value POS branded for the company 1. + 3% 1% 3% 1,50% 1% 1. + 1% 1,50% 1% 3% 3% 3. +1% 3. +1% 3. +1.5% 4 . + 1% 1.5% 5 . +2% 1% 2 . + 1% 1,22 . + 1,61% POS branded for another company 10. + 3% 6. + 1,5% 3% 1,50% 1% 10. + 1% 1,50% 6. + 1.5% 3% 3% 3. +1% 3. +1% 6. +1% 4 . + 1% 1.5% 5 . +2% 10. +1.5% 10 . + 3% 4,06 . + 2,11% A POS abroad 10. + 3% 6. + 1,5% 3% 3% 6 . + 1% 10. + 1% 3% 6. + 1.5% 3% 3% 10. +1% 10. +1% 7. +2,5% 10 . + 1% 3% 5 . +2% 10. + 1,5% 10 . + 3% 5,56 . + 2,11%
Figure 11: Comparing credit cards by their fee for cash withdrawals from POS devices.
Company Name DSK Bank Allianz Bank Pireos Bank Raiffeisenbank MKB Unionbank Cibank Emporiki Bank Central Cooperative Bank United Bulgarian Bank Eurobank Alpha Bank First Investment Bank Unicredit Bulbank ProCredit Bank TBI Credit Societe Generale Invest Bank Transcard Statistical Mode: Grace Period 45 45 45 45 45 45 0 60 45 50 50 45 45 45 45
45
45 45 45
Figure 12: Comparing credit cards by their grace period for purchases. The grace period is not appearing in the final comparison table, but its just as important and defining as the other categories.
Company Name DSK Bank Total Number of Cards
10

Allianz Bank Pireos Bank Raiffeisenbank MKB Unionbank Cibank Emporiki Bank Central Cooperative Bank United Bulgarian Bank Eurobank Alpha Bank First Investment Bank Unicredit Bulbank ProCredit Bank TBI Credit Societe Generale Invest Bank Transcard Mid. Value Total Number of cards
7 9 7 6 3 2 7 4 5 2 17 8 1 1 4 4 6
5 103
Figure 13: Comparing total number of cards offered by the companies.

Company Name DSK Bank Raiffeisenbank Central Cooperative Bank United Bulgarian Bank First Investment Bank Pireos Bank TransCard Co-brand card M-Tel Billa Avon Office 1 Superstore Bulgaria Air Globul Vivacom Golf Club Players Transcard MasterCard Card Type MasterCard Visa Visa MasterCard Visa/MasterCard Visa/MasterCard MasterCard Visa/MasterCard Visa MasterCard
Figure 14: Co-branded credit cards in Bulgaria. After completing the main part of the research, its time for the most important one. Comparing the medium value, estimated in the tables above with the actual products of iCard.
Data Inputs Interest Rate for Purchases Interest Rate for Cash Withdrawals Credit Card Limit Daily withdrawal limit Daily Purchase limit Weekly Withdrawal limit Weekly Purchase Limit Annual Service Fee Additional Card Service Fee Fee for cash withdrawals from ATM Fee for cash withdrawals from POS
iCard MC Classic 18,00 20,5 10000 1000 4000 3000 7000 20 0 2. + 3% 2. + 3%
Mid. value for MC Classic 17,54 18,60 10950 4500 6350 6500 7600 23 18 2.50 .+ 1,83% 4,06 +2,11%
Icard MC co-brand 17 20,5 20000 1000 4000 3000 7000 20 0 2. + 3% 2. + 3%
Mid. value for MC co-brand 15,75 17,25 8750 2725 5125 3833 6000 15 21 2.50 .+ 1,83% 4,06 +2,11%
iCard MC Gold 17 20,5 100000 10000 15000 15000 20000 40 0 2. + 3% 2. + 3%
Mid. value for MC Gold 16,93 17,78 38889 6720 12111 14311 18250 57 40 2.50 .+ 1,83% 4,06 +2,11%
iCard MC platinum 16 20,5 200000 20000 35000 25000 40000 100 0 2. + 3% 2. + 3%
Mid. value for MC Platinum 18,55 19,90 106667 20750 32750 32000 44667 139 107 2.50 .+ 1,83% 4,06 +2,11%
iCard MC business 18 20,5 50000 10000 15000 15000 20000 50 0 2. + 3% 2. + 3%
Mid. value fo MC business 17,26 18,31 30000 4643 16500 16429 21000 37 32 2.50 .+ 1,83% 4,06 +2,11%
Figure 15: Comparing iCards products with the medium value for their class. iCard has several more products, that are unique for the whole Bulgarian market and cannot appear on this table, or the following charts.
Interest Rate for Purchacing

19,0 18,5 18,0 17,5
Interest Rate
17,0 16,5 16,0 15,5 15,0 14,5 14,0 Classic Co-Brand Gold Platinum Business
Credit Card Type iCard Medium Value
Chart 1: Interest Rare for Purchasing The first chart shows the difference in the interest level for purchasing via POS devices. The numbers for iCard are in blue and the statistical mean or mid value for the same products of MasterCard are in red and yellow. It is obvious that iCard has higher interest rate than the medium for the respected class in four out of five cases. The difference varies from 0.07% to 1.25% in favor of the mid value. The difference in favor of iCard however is 2.55% for the platinum credit card product. The best product in this chart would have the lowest interest rate for its class.
Interest Rate for for Withdrawals
21,0 20,0 19,0
Interest Rate
18,0 17,0 16,0 15,0 Classic Co-Brand Gold Platinum Business
Chart 2: Interest Rare for Withdrawals The second graph follows the same logic as Chart 1, but it regards the interest rate for withdrawals from ATV devices, branded for another company. This attribute was chosen because iCard doesnt have any branded ATMs. The chart shows that the medium value is lower than the numbers for the iCard products in all five cases. The difference varies from 0.15% to 2.2% for a card. The best product in this chart would have the lowest interest rate for its class.
Credit Limits
250000,0
200000,0
150000,0
Limit
100000,0 50000,0 0,0 Classic Co-Brand Gold Platinum Business
Credit Card Type iCard Chart 3: Credit Limits The second attribute that is crutial for every credit card is its credit limit. Again the products of iCard are in blue and the medium value is in red and yellow. This time the chart shows that iCard wins in four out of five product categories. The difference ratio varies from 11,250. to 93,333. The difference between the numbers for the Classic Credit Card is 950. in favor of the MasterCad mid value. The best product in this chart would have the highest credit limit for its class. Medium Value
Annual Service Fee

160 140 120
Service Fee
100 80 60 40 20 0 Classic Co-Brand Gold Platinum Business
Chart 4: Annual Service Fee
The fourth attribute is the yearly tax, that the customer pays the company for servicing his credit card. In this chart iCard has numbers lower than the medium ones in three out of five cases. The difference varies from 3 to 17 in favor of iCard and from 5 to 13 in favor of the medium value for the attribute. The best product in this chart would have the lowest annual service fee for its class.
Additional Card Service Fee

45 40 35 30
40 32 23 18 21
Service Fee
25 20 15 10 5 0
0
Classic
0
Co-Brand
0
Gold
0
Platinum
0
Business
Chart 5: Annual Service Fee for Additional Credit Cards This chart shows the difference between the values for the annual service fee for having and additional credit card, sharing the limit of the main one. Again the values for iCards products are in blue and the ones for the MCs medium value are in red and yellow. It was necessary to use the show values option on the chart, because of the huge difference in the numbers. The medium value for MC varies from 18 to 40 , while iCard offers this service for free. I think that there is a clear winner in all five categories, regarding this chart. The best product in this chart would have the lowest additional card annual service fee for its class.
Annual Service Fee

160 140 120
Service Fee
100 80 60 40 20 0 Classic Co-Brand Gold Platinum Business
Credit Card Type iCard Chart 6: Withdrawal fees This chart compares the difference in taxation for withdrawals from POS and ATM devices. The graph is divided in two instead of five, because the company taxation policies are the same for all credit cards. Regarding the ATM taxes, the fixed amount of money charged for every withdrawal is lower for iCards products. The MC medium value however takes the lead when it comes to taxation in percentages of the withdrawn sum. It is a tie in this graph. The best product in this chart would have the lowest taxation fee and percentage. Now that the comparative part of the research is done it is time to prove or disprove the hypothesis. The hypothesis was that iCard offers products with better statistics than the medium value for their class. The outcome of the final table was displayed in 6 charts, in Medium Value
order to visually see the difference between the numbers in the categories. The outcome of these charts is shown in Figure 16. Figure 16: Research Outcome.
Category Interest Rate for Purchases Interest Rate for Cash Withdrawals Credit Card Limit Annual Service Fee Additional Card Service Fee Fee for cash withdrawals from ATM Fee for cash withdrawals from POS Classic MC MC MC iCard iCard MC/iCard MC/iCard Co-Brand MC MC iCard MC iCard MC/iCard MC/iCard Gold MC MC iCard iCard iCard MC/iCard MC/iCard Platinum Business iCard MC iCard iCard iCard MC MC iCard MC iCard Leader in Category MC MC iCard iCard iCard
MC/iCard MC/iCard MC/iCard MC/iCard MC/iCard MC/iCard
The outcome of the research shows that iCard has better attributes than the MC medium value in 3 out of 5 categories, and equal results in another 2. Overall the iCard products have proven to be better than the medium value for their class. Another fact that should be mentioned is that iCard has several more unique products on the Bulgarian market, that take the lead by default. If they were included in the research it would add an additional 5 product categories in which iCard would definitely win. This proves the hypothesis that iCard has better products than the medium value for their class in Bulgaria. Comparing all the different categories and their medium value with iCards statistic has proven the hypothesis in a clear and non-biased way.
Reference
Allianz Bulgaria (n.d.). Retrieved on 02 November, 2010 from http://www.allianz.bg/site/index.php Alphabank (n.d.). Retrieved on 04 November 04, 2010 from http://www.alphabank.bg/ Central Cooperative Bank (n.d.). Retrieved on 04, 2010 from http://www.ccbank.bg/ CiBank (n.d.). Retrieved on 03 November http://www.cibank.bg/bg/home Credit List (n.d.). , , . Retrieved on 02 November, 2010 from http://krediti.weebly.com/index.html DSK Bank (n.d.). Retrieved on 02 November, 2010 from https://dskbank.bg/Page/default.aspx?xml_id=/bg-BG/ Emporiki Bank (n.d.). Retrieved on 03 November, 2010 from http://www.emporiki.bg/ FinCity (n.d.) Retrieved on 01 November, 2010 from http://www.fincity.bg/prod.php?cat=38 First Investment Bank (n.d.). Retrieved on 05 November, 2010 from http://www.fibank.bg/ Intercard Finance (n.d.). Retrieved on 01 November, 2010 from https://www.icard.bg//creditcards/ InvestBank (n.d.). Retrieved on 06 November, 2010 from http://www.ibank.bg/index.php? page_id=2 MasterCard Bulgaria (n.d.). Retrieved on 01 November, 2010 from http://www.mastercard.com/bg/personal/bg/index.html MKB Unionbank (n.d.). Retrieved on 03 November, 2010 from http://www.unionbank.bg/bg Moite Pari (n.d.). Retrieved on 01 November, 2010 from http://www.moitepari.bg/Kreditni_Karti/Kreditni_Karti.aspx Piraeus Bank (n.d.). Retrieved on 02 November, 2010 from http://www.piraeusbank.bg/ Post Bank (n.d.). Retrieved on 06 November, 2010 from http://www.postbank.bg/ Procredit Bank (n.d.). Retrieved on 05 November, 2010 from http://www.procreditbank.bg/main/bg/index.php
Raiffeisenbank (n.d.). Retrieved on 02 November, 2010 from http://rbb.bg/bg-BG/ Societe Generale (n.d.). Retrieved on 06 November, 2010 from http://www.sgexpressbank.bg/ TBI Credit (n.d.). Retrieved on 05 November, 2010 from http://tbicredit.bg/ Transcard Bulgaria (n.d.). Retrieved on 01. November, 2010 from http://www.transcard.bg/bg Unicredit Bulbank (n.d.). Retrieved on 05 November, 2010 from http://www.unicreditbulbank.bg/bg/index.htm United Bulgarian Bank (n.d.). Retrieved on 04 November, 2010 http://www.ubb.bg/bgBG/Home Visa Bulgaria (n.d.). Retrieved on 01 November, 2010 from http://www.visabg.com/

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Credit Card Comparison Sheet 1

Credit Card Comparison Sheet

Denis Panayotov Denis.Panayotov@gmail.com 03.12.2010

Credit Card Comparison Sheet 2

nterest rates (both)

eekly limit purchase T

otal credit limit

aily limit - cash

nual service fee D

aily limit - purchase

nual service fee - additional card W

eekly limit - cash

ithdrawal tax ATM

Credit Card Comparison Sheet 3

ithdrawal tax POS

Credit Card Comparison Sheet 4

Visa Gold 17,95

Visa Platinu m 17,95

Maste r Card Gold 17,95 14,75 18 16,8 14 15,9

Diner s First Lady

Visa Busines s Classic

15,75 18 17,8 17 17,9 17 15,75 16,5 17,9 18 18,64 19,2 19

18,75 18 17,8 19,4 17,9 17 15,75 18,5 18,9 19 20,44 19,2 19

Credit Card Comparison Sheet 5

Visa Busines s Gold

Visa M-tel Silver

Visa M-tel gold

ING Visa classic

ING Visa Gold

Transcard MasterCard Unembossed

Transcard MasterCard Standart

Transcard MasterCard Gold

Transcar d JCB Gold

Credit Card Comparison Sheet 6

Figure 3.1: Comparing credit cards by their credit limit in leva.

Figure 3.2: Comparing credit cards by their credit limit in leva.

3000 2000 1500 3000 3000

Credit Card Comparison Sheet 7

6000 1000 2000 % % 400 %

10000 4000 10000 % 4000

Visa Business Gold

Master Card Business Standart 3000 4000 2500

Master Card Business Gold

Visa M-tel Silver 1000

Visa M-tel gold 1000

Visa Galaxy 1000

Master Card Galaxy 1000

Maxi Card 400

ING Visa classic

ING Visa Gold

Transcard MasterCard Unembossed

Transcard MasterCard Standart

Transcard MasterCard Gold

Transcard JCB Gold

3000 2000 5000

Visa Gold 9000 8000 % 6000 10000 5000 14000

Visa Platinu m 25000

Master Card Standar t 6000 % 2500 5000 1000 3000 10000

Maste r Card Gold 9000 8000 % 6000 10000 10000 14000

Master Card Planitu m 25000

Diner s First Lady

Master Card Cobrand 5000