Improving Credit Card Services For Individual Customers Of Vietnam International Bank (VIB), Cau Giay Branch

Professional bachelor degree
in Finance-Banking-Insurance
(Customer relationships management)

WORK PLACEMENT REPORT

Improving Credit Card Services For Individual Customers Of
Vietnam International Bank (VIB) , Cau Giay Branch

Names of student

:

Nguyen Thi Hue

University year

:

2019-2022

Tutor at TMU

:

Mrc.Nguyen Minh Nhat Linh

Tutor at USTV

:

Marie-Josée Cambreling

Tutor at (Company)

:

Bui Thi Hien

Hanoi – 2022


TABLE OF CONTENTS
LIST OF TABLES ................................................................................................................... 2
LIST OF FIGURES ................................................................................................................. 2
Introduction .............................................................................................................................. 4
PART 1: OVERVIEW OF VIB AND THE INTERNSHIP ............................................ 5
1.1 Company: .................................................................................................................... 5
1.2 Host Firm..................................................................................................................... 5
1.1 Introduction of my internship ................................................................................... 6
1.1.1 Reason to choose topic ......................................................................................... 6
1.1.2 Internship plan .................................................................................................... 6
PART 2: INTERNSHIP IMPLEMENTATION AT VIB,CAU GIAY BRANCH ......... 8
2.1 The internship position, responsibilities and tasks .................................................. 8
2.1.1 Department structure and internship position.................................................. 8
2.1.2 Business procedure and work placement responsibilities ................................ 8
2.1.3 Daily tasks ............................................................................................................. 9
2.2 Introduce about credit card service (For individual customers) of VIB ............ 10
2.3 Some business cases .................................................................................................. 12
2.3.1 Case No1 (failed - customer risk) ..................................................................... 12
2.3.2 Case No2 (failed – customer’s needs) ............................................................... 13

2.3.3 Case No3 (successed) .......................................................................................... 15
2.4 Service analysis ......................................................................................................... 16
2.4.1 Customer research ............................................................................................. 16
2.4.2 Competitor analysis ........................................................................................... 24
2.4.3. SWOT analysis .................................................................................................. 27
2.4 KPI and KPR ............................................................................................................ 28
2.4.1 Key performance Indicator – KPI.................................................................... 28
2.4.2 Key performance results – KPR ....................................................................... 28
2.4.3 Host firm assessment and recommendation .................................................... 28
PART 3: INTERNSHIP ASSESSMENT ......................................................................... 30
3.1 The difficulties encountered .................................................................................... 30
3.2 Internship gained ...................................................................................................... 30
3.3. Career plan ............................................................................................................... 31
Conclusion ........................................................................................................................... 32
APPENDICES .................................................................................................................... 33
LIST OF REFERENCES ...................................................................................................... 37

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LIST OF TABLES
Table 1 : Internship plan at VIB –Cau Giay Branch ............................................................ 6
Table 2 : Time and Daily tasks at VIB Cau Giay Branch ...................................................... 9
Table 3 : Information about 2 types of credit card of VIB Cau Giay .............................. 10
Table 4 : Case 1 ...................................................................................................................... 12
Table 5 : Case 2 ...................................................................................................................... 13
Table 6 : Case 3 ...................................................................................................................... 15
Table 7 : Comparison credit cards service of VIB, VP BANK and Techcombank ........... 24
Table 8 : SWOT analysis of VIB Cau Giay Branch ........................................................... 27

LIST OF FIGURES
Figure1: Structure of VIB –Cau Giay Branch ..................................................................... 8
Figure 2 : Proportion of gender, age, occupation of customers ......................................... 17
Figure 3 : Proportion of education level , income per month of customers ....................... 18
Figure 4 : Interactive channels help VIB to reach customers ............................................ 18
Figure 5 : Method opening card of customer ....................................................................... 19
Figure 6 : The purposes of customer when use credit cards ................................................ 20
Figure 7 : Criterias when choosing a customer's VIB credit card service ...................... 20
Figure 8 : Customer's credit card usage ( per month) ......................................................... 21
Figure 9 : Customer satisfaction with VIB ’s credit cards services ..................................... 22
Figure 10 : Some problems encountered when using credit card ...................................... 23
Figure 11 : Percentage of customers who evaluate the suitability of the credit card limit . 23

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ACKNOWLEDGE
I would like to express my deep thank to the Thuong Mai University and the
University of Toulon for creating a good learning environment for me and other students, for
teaching and imparting useful knowledge during this time,from that I can apply to complete
this thesis.
I would like to sincerely thank Mrc. Nguyen Minh Nhat Linh, who directly guided me
very enthusiastically, gave comments to help me improve my limitations to complete the
thesis . I also thank Ms.Marie-Josée Cambreling for her helpful advice on choosing a topic
title and writing a report.
Besides, i would also like to thank the VIB Cau Giay Branch and Ms. Bui Thi
Hien –my tutor at the bank for taking the time and helping me in the process of customers
survey, find quarterly sources of information to complete this thesis
Although we have tried our best, there are still shortcomings, we hope to receive the
sincere contributions of the teachers to make the report more complete.

I sincerely thank!

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Introduction
In recent years, the habit of none-cash payment is becoming more and more popular. One of
them must be mentioned is the method of payment via credit card. With the feature of
“ spending before, paying later” , it has become "an inseparable thing” for those who have
the habit of shopping, consuming, and paying online.
In that context, VIB has also been trying to develop this card to promote meet people's needs
and keep up with social trends. Although this card brings many benefits, many people are still
confused and do not want to use it, even many people open it and then cancel it because of
paying fees, or incurring high interest rates.
Realizing the importance of the above issue, with the knowledge that has been studied and
researched at the university and during a period of internship at VIB International Bank - that
plays a key role in the field of business credit card business, so I chose the topic : " Imroving
credit card services for individual customers of Vietnam International Bank (VIB) , Cau Giay
Branch” to research the current situation and difficulties in bringing credit card services
closer to many customers and suggest some solutions to help VIB improve this problem.
My report consists of 3 main parts:
Part 1: Overview of VIB Cau Giay branch and the internship
Part 2: Internship implementation at VIB Cau Giay branch
Part 3: Internship assessment

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PART 1: OVERVIEW OF VIB AND THE INTERNSHIP

1.1 Company:


Name: Vietnam International Bank (VIB)




Slogan : “The heart of banking”
Location : CornerStone building, 16 Phan Chu Trinh, Phan Chu Trinh ward, Hoan
Kiem, Hanoi




Legal status : Active
Geographical development : Currently, Vietnam International Bank has a total of
more than 160 branches/transaction offices located in 27 provinces and cities
nationwide. In which, the most are Ho Chi Minh City - 46 branches/transaction
offices, Hanoi - 38 branches/transaction offices, Hai Phong city – 8
branches/transaction offices, ... and many other provinces and cities.




Number of employees : VIB currently has more than 10,000 employees
Date of creation: September 18, 1996



Activity : VIB operates mainly in the field of capital mobilization and credit lending.
In addition, the Bank also participates in international payment activities, foreign
exchange business, financial investment, risk management and capital preservation.



Target: VIB sets a target of strong growth in the period 2022-2026 with compound
growth in profit of over 30%/year, capitalization increased by 5 times compared to the
current one, and at the same time developing the customer network to more than 10
million customers in the next leg. VIB aims to lead the retail market in terms of
quality and scale on a solid foundation of technology and management.
1.2 Host Firm







Location: 1st floor, CTM Building, 299 Cau Giay, Cau Giay District,Hanoi
Number of employees : about 130 employees
Date of creation : July 8, 2002
Size : The branch has 3 transaction offices in the same area: My Dinh, Quan Hoa and
Hoang Quoc Viet transaction offices
Activity :
+ Card products: Credit card, VIB Values domestic payment card (ATM)).
+Digital banking services: Mobile banking (Myvib), E-banking (My Online Bank),
SMS banking (SMS Banking).
+Savings service: Online deposit, Target savings, Foreign currency savings (EURO
and AUD).

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+Loan services: Home loan, car purchase, consumer loan.
+Insurance services: Provide comprehensive insurance packages suitable for many
subjects including: Pru Flexible Investment, Pru Optimal Protection, Health
Protection VIB Care, Pru Lifetime Peace of Mind, Pru Life Peace, Pru bright future.
1.1 Introduction of my internship
1.1.1 Reason to choose topic
Currently, demand of customer for payment cards is increasing. Credit card is noncash payment method that help customer reduce costs and time in commuting,
especially in current COVID situation. With feature “ spend before, pay later” very
suitable in the current trend. Along with the competition in credit activities - credit
cards are also increasingly active and customers are the decisive factor in the
existence of the bank. VIB has introduced credit card service right from the first years
of its establishment. Although VIB's credit card business has achieved certain results,
it has also faced many difficulties, especially the impact of the covid 19 pandemic in
recent years. Moreover, in Vietnam, the number of people using credit cards is still
limited. Some people know the benefits of a credit card and use it, but many others do
not want to use it, wondering about issues such as fees, interest rates, etc. That's why I
chose the topic "Improving credit card services for individual customers of Vietnam
International Bank (VIB), Cau Giay Branch" to find out about the current credit card
situation.After that, i will analyze the advantages and disadvantages as well as
propose some solutions to improve credit card services, increase customer satisfaction
for this method of payment.

1.1.2 Internship plan

Table 1 : Internship plan at VIB –Cau Giay Branch

Date
From: 1 To 15th
March,2022
st

From 15th to 30th
March,2022

From 31th March to 14th
April,2022

Task / Mission
Task 1 : Learn about the
general rules and
principles at the place
intern
Task 2: Research
documents, information
about credit cards:
characteristics, interest
rates, procedure, ...
Task3 : Collect data, list,
build relationships to find

Outcome
Understand rules and
regulations

Understand the necessary
information about credit

card services

Collect a list of potential
customers
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th

th

From:.14 To 20
April,2022.

From 21th April to 9th
May,2022

potential customers
Task 4 : learn negotiate
with the customer

From:...10th To:..20th
May,2022.

Task 5 : Create a customer
survey and conduct
analysis
Task 6 : Analyse the
SWOT matrix

From 20th to 27th
May,2022

Report and evaluate the
internship

Know how to solve
problems encountered with
customers
Collect customer feedback

Understand the strengths,
weaknesses,opportunities,
and challenges of the bank
Complete the internship
report and make
suggestions to improve the
service quality of the
internship place

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PART 2: INTERNSHIP IMPLEMENTATION AT VIB,CAU GIAY BRANCH
2.1 The internship position, responsibilities and tasks
2.1.1 Department structure and internship position
•

Structure:
Figure1: Structure of VIB –Cau Giay Branch

Director

Customer Service
Department

Credit Department

Customer
Relationship
Management (RM)

Customer
Relationship
Management (RM)

Tellers

Surveyor

Customer
Relationship
Management Assistant
(ARM)



My postion: I am doing an internship at The Credit Department under the
guidance of Ms. Bui Thi Hien – my direct tutor at the bank and also the Customer
Relationship Manager (RM)..

2.1.2 Business procedure and work placement responsibilities
I am an intern at VIB's credit department at Cau Giay. As a newbie and inexperienced,
my task is to support the bank staff in transactions related to credit card opening processes for
customers . From that,it helps me understand more about the culture and working
environment of the bank. The basic tasks I was assigned as:
- Print, scan, copy legal documents of customers , ask for the signature of the director
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- Call customers according to the data provided by superiors
- Consulting, answering and taking care of customers about credit cards
- Go with the bank staff to meet the customer to sign and confirm the legal documents
to open the card
2.1.3 Daily tasks
I interned at banks on Mondays, Wednesday and Fridays. Mornings start from 8am to
12pm and afternoons from 1pm to 5pm. Detailed tasks are shown in the table below :
Table 2 : Time and Daily tasks at VIB Cau Giay Branch

In the morning ( 8 am-12 am)

Monday

-Having a meeting with the Credit
Department about working plan for the week
-Read the document about the information of
credit cards (features, classifications, interest
rates,...) and ask the tutor any questions i still
wonder.

Wednesday -Read the document about the information of
credit cards and ask the tutor any questions i
still wonder.

In the afternoon (1pm-5pm)

-Support the bank staff to set up
records, photocopy, scan necessary
documents, enter customer list into the
system.

-Support the bank staff to set up
records, photocopy, scan necessary
documents,

-Call customers based on the available list and -Ask for the signature of the Branch
advise customer to choose suitable credit
Director to confirm the records
cards
-Go with the bank staff to meet the
customer directly to sign the
confirmation

Friday

-Read the document about the information of
credit cards and ask the tutor any questions i
still wonder.

-Support the bank staff to set up

records, photocopy, scan necessary
documents,

-Call customers based on the available list and -Ask for the signature of the Branch
advise customer to choose suitable credit
Director to confirm the records
cards
-Go with the bank staff to meet the
customer directly to sign the
confirmation
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2.2 Introduce about credit card service (For individual customers) of VIB
Currently, VIB bank is issuing 10 different credit cards such as VIB Online Plus, VIB
Premier Boundless, VIB Zero Interest Rate, VIB Happy Drive, VIB Travel Élite, VIB Cash
Back, VIB Rewards Unlimited, VIB Financial Free , VIB TrueCard, VIB online plus 2in1 ......
Most of them, there are 2 popular cards that VIB Cau Giay Branch is focusing on developing :
“VIB Online Plus 2in1” and “VIB Travel Elite”. The characteristics of the 2 types of cards
are shown in the table below:
Table 3 : Information about 2 types of credit card of VIB Cau Giay

VIB Online Plus 2in1

VIB Travel Élite

This is the first card that integrates credit
cards and debit cards in Southeast Asia. It
is the most registered by customers at
VIB Cau Giay branch.

Feature

Statement date: 10th of every month

Statement date: 20th of every month

Payment date: after 25 days from the date Payment date: 25 days from the date of
of statement
statement
Interest-free period: up to 55 days

Interest-free period: up to 55 days

Interest rate: 3%/month

Interest rate: 2.33%/month

Annual fee: 599,000 VND

Annual fee: 1.299.000 VND

Limit: 15 to up to 600 million VND

Foreign transaction fee : only 1.75%

Validity period : 5 years

Limit: 60 million- up to 2 billion VND

Type : Platium

Validity period : 5 years
Type : World

-Nationality: Vietnamese. Foreigners are allowed to reside in Vietnam for 12 months
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Terms and or more
conditions to
open credit - Address of residence/working: In the provinces/cities with branches/transaction
card
offices of VIB
-Age of Primary Cardholder: from full 20 years old to 65 years old
-Supplementary cardholder: from 15 years old and up
-Minimum 12 months working time. Official labor contract with a term of 12 months
or more
-No bad debt within the last 2 years

Income

Minimum average income in the last 3 Minimum average income in the last 3
months: 7 million VND
months: 20 million VND

Benefits

- 0% interest rate installment at Shopee, Customers can freely shop and travel
Mobile World, Dien May Xanh, VUS, without worrying about cost :

Apax Leaders, ...
- Cardholders are free to spend and shop
- Cashback 100% of the first Grab abroad with a foreign currency
transaction value up to 300,000vnd
transaction fee of only 1.75%. - This is
the best fee on the market today
-Cashback 100% of the first year annual
fee when the total accumulated spend - Privilege to use more than 1,000
spending value is from VND 5,000,000 lounges at airports around the world with
within 30 days from card issued date;
free use 4 times/year.
- Discount 50.000 VND for GrabFood
orders with a minimum value of 100.000
VND, 25.000 VND discount for GrabCar
/ GrabBike orders with a minimum value
from 50.000 VND, applied on Monday,
Wednesday, Friday every week.

- Earn miles and redeem award for every
spend. : with 25,000vnd accumulative
domestic spending 1 mile
- Free travel insurance package with
value up to 500,000 USD

-Discount up to 30% on dining, online
shopping, travel at more than 25 leading
brands in Vietnam such as: Kichi-Kichi,
iSushi, Shopee, Tiki, Sendo, ..

Requirement - Application form to open card

- Personal profile including Copy of Identity Card/ Citizen ID/ Passport and Copy of
Files
Household Registration
- Proof of income including Copy of Labor Contract and Original Salary Statement

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Procedures

Open card directly at VIB transaction offices/branches:
Step 1: Fill in the information on VIB's card application form and provide the
necessary documents.
Step 2: Wait for the bank staff to check the information.
Step 3: Customer is provided with a credit limit
Step 4: The customer is issued a card after about 5 to 7 working days after the
records is approved
Open VIB card online
Step 1: Register to open a VIB credit card at the link:
, choose the suitable card product.
Step 2: Take a photo of your ID/CCCD and a portrait to perform eKYC
Step 3: VIB appraises and approves the application in just 30 minutes
Step 4: VIB issues cards on the system
Step 5: VIB will comment, verify your information through face-to-face meeting to
hand over the card and collect the card issuance application form with customer’s
signature, hard copy documents (if any).

2.3 Some business cases
2.3.1 Case No1 (failed - customer risk)
Table 4 : Case 1

Information

Detail

The information of Name: VIB Online Plus 2 in1
financial products and
services
Type : Platinum
Fee: 599,000 VND
Limit: 15- up to 600 million VND

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Statement date: 10th of every month
Payment date: after 25 days from the date of statement
Interest-free period: 55 days

The information of (a Name : Dang Trung Luan
real) customer
Sex : Male
Age : 23
Work place: Gamuda urban area, Yen So ward, Hoang Mai district, Hanoi
Purpose of opening card: Personal spending
Desired limit: 30 million VND

The financial position Customers do freelance work, no specific job, unstable income
of customer

Risk

Customers who cannot prove his income and work will not be able to pay
the debts, easily generating bad debts.

Negotiations

I have explained to the customer that the condition to open a credit card is
he must prove his work and income to consider his ability to pay.
Realized that he did not meet all the conditions when opening a credit
card, I asked for his identity card so that the appraisal department could
check the credit history, but he refused, and it seems that he is there is a
loan that is late in payment but he hides it
I rejected this case because customer has a lot of financial risk

Results

Failure due to customer risk

2.3.2 Case No2 (failed – customer’s needs)
Table 5 : Case 2
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Information

Detail

The information of Name: VIB Online Plus 2 in1
financial products and

services
Type : Platinum
Fee: 599,000 VND
Limit: 15- up to 600 million VND
Statement date: 10th of every month
Payment date: after 25 days from the date of statement
Interest-free period: 55 days

The information of (a Name : Lam Thi Ngoc Ha
real) customer
Sex : Female
Age : 25
Address: No. 22, Alley 59 Pham Van Dong Street, Cau Giay District, Hanoi
Work place: 3rd floor. My Dinh Plaza 2 Building, No. 2 Nguyen Hoang, My
Dinh 2, Nam Tu Liem, Hanoi
Card opening purpose: shopping online
Desired limit: 50 million VND

The financial position The customer is a data entry worker at Phuong Chi Software Company, with
of customer
income of 8 million per month.
=> Customer has stable income, salary is paid monthly through bank account.

The customer risk

Customers want a high payment limit but the salary is quite low

Negotiations

When I got the customer's information, I advised her about the program to open a

credit card from the salary.
With this program, the card limit will be 3 times her received salary. It means
that the customer's salary is 8 million, 3 times the salary will be 8x3= 24 million,
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smaller than the limit proposed by the customer (50 million).
I asked customer for additional proofs of revenue to increase his credit card
limit, but she refused
Failure due to customer’s needs

Results

2.3.3 Case No3 (successed)
Table 6 : Case 3

Information

Detail

The information of
products and services

financial Name : VIB travel elite
Type : World
Fee: 1,299,000 million VND
Limit: 60 up to 2 billion VND
Statement date: 20th of every month
Payment date: after 25 days from the date of statement
Interest-free period: 55 days

The information
customer

of

(a

real) Name : Pham Minh Nhat
Sex : Male
Age : 28
Address: 58 Tran Binh, Mai Dich, Hanoi
Work place: 28 Nguyen Hong, Lang Ha Ward, Dong Da
District, Hanoi
Purpose of card opening: Traveling, paying bills

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Desired limit: 100 million

The financial position of customer

He works as a lecturer at Oxford English Center, earning 40
million per month.
Having a VP bank credit card with a limit of 70 million VND

The customer risk

Because customers have credit cards from other banks, it is

possible that there will be over-spending, delay or forget to pay.

Negotiations

During the process of receiving documents and contacting
customers who need to open a credit card for personal spending.
I have advised customers about the program to open a credit
“card to card” with an approved limit of 70%-130% of the card
limit that the customer currently has (because he has another
bank's credit card, so the procedure of “card to card” program
will be faster)
After contacting the customer, I realized that he has ensured the
following conditions: using another bank's credit card for more
than 1 month and not spending more than 90% of the card's total
limit.
Through checking credit history (CIC), he has no bad debt, good
credit score. In addition, his income is quite high and stable,
able to repay the debt. Therefore, he is eligible to open a credit
card with an approved limit of 100 million VND
I contacted and scheduled a meeting with the customer to sign
the confirmation in the credit card opening form and he agreed

Result

Successed

2.4 Service analysis
2.4.1 Customer research
Purpose: Collecting customer information (age, income, occupation) and then finding
potential customers. Moreover, this research helps to understand more about the needs,

spending way and difficulties of customers when using credit cards to help banks
improve their services better.
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Method : Based on the list of customers who have registered for a credit card
provided by VIB and to ensure safety against the Covid-19 epidemic situation ,I
created a survey questionnaire through google form and sent it to customers on
websites (facebook, zalo, instagram, ..) or their email. I sent it to all 130 customers,
and got 102 responses..

 Analyze customer survey results
 Looking at the first chart, I will specifically analyze the most popular customer segments
using credit card services

Figure 2 : Proportion of gender, age, occupation of customers
Looking at the chart, we can see that both genders are interested in VIB bank
credit cards with a slight difference (5.8%) usually in the age group of 20-30 years
accounting for 63.7 %. Most of them are office staff (55.9%) and business (24.5%)
who are stable incomes, financial independence, good debt repayment conditions.
Moreover, in today's modern life , this group of people often have to make
transactions, so they always aim for convenience and speed in daily expenses such as
paying bills, paying for online purchases, and easily attracted by incentive programs.
This is also a potential customer segment of credit card service that VIB needs to
focus on because it is easy to exploit and brings profits to the bank.

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 The next chart will show about education level , income per month of customers

Figure 3 : Proportion of education level , income per month of customers

In general, the majority of customers' education level is graduated (66.7%), and
with average income 7-10 million per month accounts for 42.2%. This is also the
minimum income that meets the cardholder's credit card opening conditions at VIB.

 In the following chart, we will see about interactive channels to help customers know
about VIB's credit card service:
Figure 4 : Interactive channels help VIB to reach customers

How do you know about VIB's credit card service ?
Others
Advertising,Television
The Internet
Friends and family members who have used
The bank staff

1.0%
3.9%
24.5%
30.4%
40.2%
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%

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According to the survey, The customers know about VIB credit card service through
bank staff is the hightest (40.2%), besides , knowing through friends and relatives who
have used it is 30.4% and the Internet is 24.5 %. While the proportion of people

knowing about credit card services through advertising and television is the lowest
(3.9%).For commercial banks in general and VIB in particular, promoting the
introduction of credit card products through bank staff, who have professional skills,
negotiate and persuade customers is effective. In addition, through relatives and friends to
introducing the bank's products is also VIB's main interaction channel, both reducing
costs and expanding new customers. Overall, these 3 communication channels have a
relatively close ratio of being effective but if VIB wants to attract customers to use cards,
they should focus on marketing strategies through mass media such as the Internet
because nowadays the number of people using social networks and surfing the web is
very large.. In addition, VIB should increase the coverage of credit card products in
newspapers and television to reach more significant number of customers.
 The next figure will show the customer's card opening method
Figure 5 : Method opening card of customer

What is your card opening method?

10.9%

Unsecured
Secured
89.1%

The majority of customers open VIB credit cards in the method of unsecured
(89.1%). Because this method is much simpler than pledging collateral, customers
only need to have a salary statement of the last 3 months to prove their income instead
of having to hold Land oᴡᴠerѕhip certification to the bank to pledge

 Next will be a figure giving the purposes of customer when use credit cards

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Figure 6 : The purposes of customer when use credit cards

What is your pupose of using credit card?
Others

5.9%

Personal reserves

11.7%

Paying bill

62.7%

Travelling

18.6%

Entertainment

34.3%

Shopping

56.9%
0%

10%

20%

30%

40%

50%

60%

70%

Cashless payment has become the current trend. People use credit cards for
many different purposes, but most of them are for bill payment (62.7%) , online
shopping (56.9%) and only 11.7% use them to personal reserves . This is because
When opening and making transactions from credit cards, customers will always
receive incentives to accumulate cashback points, attractive gifts from VIB in
combination with partners in many fields: food, consumer goods, restaurant ......, so
people tend to take advantage of those benefits to spend, consume a lot to meet
personal needs.
Figure 7 : Criterias when choosing a customer's VIB credit card service

What criteria do you choose to use VIB's credit
card?
8.9% 8.8%
Interest free period

15.7%

58.8%

Suitable limit
Attractive incentive programs
The reputation of bank

64.7%
41.2%

Fee
Procedure

When choosing to use VIB credit card, incentive programs (64.7%) and
interest-free period (58.8%) are the two extremely important criteria affecting
customers' decisions . Compared to other bank's credit card products, VIB brings
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customers a unique experience through cashback rewards programs during 365 days
a year with unlimited offers in many fields to help customers save from 5-20% each
transaction and interest free period up to 55 days- Those are the criteria that are
considered as competitive advantages of VIB. In contrast, procedure (8.8%) and fee
(8.9%) are the two criteria with the lowest selection rate. These are also issues that
VIB needs to have solutions to improve.
Figure 8 : Customer's credit card usage ( per month)

How many times per month do you use your
credit card?
Less than 2 times

3-7 times

25.7%

More than 10 times

20.8%

53.5%

The most people use credit card 3-7 times per month (accounting for 53.5%),
more than 10 times account for 25.7% and at least less than 2 times (20.8%). With
many programs of cashback, accumulation of points, and discounts directly on the bill
in many fields such as shopping, food, travel, etc., customers tend to use a lot to enjoy
the full benefits
 The next figure will show us the level of customer satisfaction about credit cards service
of VIB:

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Figure 9 : Customer satisfaction with VIB ’s credit cards services
70
60
50
40
30
20
10
0

Very satisfied
Satisfied
Normal
Dissatisfied

Looking at the figure in more detail , VIB's credit card service is highly
appreciated by customers for promotion,cashback and secure system.In which , there
are 53 very satisfied answers about VIB's promotion and cashback program, it proves
that the marketing campain of VIB to promote services to customers is very good.
Besides, 44 answers are very satisfied about the security system. With the advantage
of being a pioneer bank in applying new technologies such as Big Data, AI, Green
PIN' - PIN code.So, customers can actively transact on mybib application without
having to worry about information being stolen.. In contrast, VIB still has some
weaknesses in fees and procedures, accounting for 10 and 41 unsatisfied answers on
this issue

 Next will be a figure listing some basic problems that customers have encountered in the
process of usingVIB’s credit card service :

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Figure 10 : Some problems encountered when using credit card
70
60
50
40
Never

30

Seldom

20

Sometimes

10

Regularly

0
Card
Declined

Late
Can't access too much Penalized Locked card
payment or the app outstanding for spending
forget to
MyVIB
balance
over your
pay
credit limit

Through a survey of 102 customers, when using VIB credit card, the problem
they often encounter is not being able to access the MyVIB app. This is a very
common situation when people use e-banking in daily life, not only VIB, it makes the
app rotate continuously and cannot make transactions on app. The cause may come

from the bank's system maintenance, leading to error or unstable internet connection.
This situation happens often but for a short time. The solution given is that the
customer can Exit the application and log back in after 1-2 minutes.

 Finally, the chart below will show the customer's evaluation of credit card limit
suitability
Figure 11 : Percentage of customers who evaluate the suitability of the credit card limit

Is the credit limit suitable for your monthly
spending?
Very suitable

Lower than expected

Higher than customer's demand

26.5%
8.8%

64.7%

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The majority of customers feel that VIB credit card limit is very suitable for
their spending needs (64.7%) . VIB's credit limit is granted up to 600 million (Platium
class) and up to 2 billion for( World class) cards. For customers who open a card from
the salary program, the limit will be 3 times the salary, and for " card to card "
program, the approval limit is from 70-130% of the card's limit. After a period of use
and good spending, customers can completely request the bank to approve an increase

in credit card limit or sometimes the bank will automatically increase it for customers.
With such clear policies, customers can completely enjoy spending and shopping
2.4.2 Competitor analysis
It can be seen that when the credit card market has a lot of potential to develop
and bring in profits, the race to issue credit cards between banks is becoming more
and more fierce. Besides the names that are always leading in quality such as
Viecombank, BIDV, VietinBank,..., VIB has to face two potential competitors , VP
Bank and Techcombank- - which is considered as one of the banks that attract a large
number of customers and have the same geographical location and belong to the same
Cau Giay district where there are many individual businesses and households. The
differences and highlights of these 3 banks are shown in the table below:
Table 7 : Comparison credit cards service of VIB, VP BANK and Techcombank

VIB

Target
customers
conditions

Techcombank

- Primary Cardholder from
and full 20 years old to 65 years
old and supplementary
cardholders from 15 years
old and up

- Between the ages of 22
and 60 (age at the time of
application).

- Age between 18
and 62.
- Income from . 5,000,000 7,000,000 vnd per month
- Income level from
- Minimum average income
6,000,000
for the last 3 months is 7
VND/month
million VND and maximum
is 20 million VND (Travel
Elite Card)

Interest rate 2,33%-3%
( per month)

Incentive
programs

VP Bank

-Discounts from 10% - 30%
in many fields such as
travel, food, shopping.
Offers throughout 365 days

2,79%-3,99%

2,58%

Accumulate points,cashback

for shopping expenses,
installment payments with
some
big
partners:

Cashback in the field
of shopping and
travel, accumulating
and
exchanging
points at some big
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