Either you need to find people who don't have credit cards (students) or convince people who have cards to use yours (either adding your card to their wallet or causing them to replace a card with yours).

A credit card is simply a way of allowing someone to buy something now and pay for the debt later. To replace an existing card, your credit card needs to: 1) be accepted at more merchants, 2) have better terms than other cards, and optionally 3) have better benefits (cash-back, mileage programs, etc.).

For objections, you need to perform a SWOT analysis for the competition's cards. This matrix can be sent/shown to all prospects showing why your card is better than the competition.

A "building your credit" credit card...where the limit increases incrementally over time as the holder proves payment ability...good for those new to credit, no credit, bad credit.

Saptagiri,

First of all, pardon my ignorance, but what exactly do you mean by "FoS Model"?

Assuming that you are talking about the Credit Card market in India, based on my limited understanding, there is no way one can call this market "near saturation" - there is still a long way to go for Indian consumers for the credit card market to be termed as "saturated".

Having said that, I agree with you that there are a lot of players in the market - who are enamored with the "consumer spending" boom per se, with no idea of what to offer and whom to offer. If you notice, majority of the market has been commodified, leading to stereotypes in the mind of the consumer. So much so that there is widespread antipathy towards "Credit card calls" in the market.

In this scenario, from what I understand, you are not in a position to change/customize your offerings, and are responsible for the sales only in your territory.

Few suggestions -
- Corporate partnerships, where discounts / cashbacks could be provided to members
- Local partnerships with entertainment zones, like movie halls, malls, pubs, restaurants, etc.
- "Community" promotions, where members feel as if they are part of an elite club
- Kiosk-based promotions at key touchpoints, rather than open promotions (restricted/targeted promotions)
- Awareness programs, involving risk aversion details as well (no risks involved in credit card usage - biggest apprehension in the market)

There are some of the ideas I could think of. Feel free to discuss/debate any points, in case required.

Hope this helps!
Regards
Puru