This study aims to analyse the two main aspects of credit cards, namely, the selection factors and the impact of credit cards. In particular, the differences between Islamic Credit Cards (ICCs) and Conventional Credit Cards (CCCs)in the two aspects are explored. The selection criteria are investigated in various factors, including those that explain the first motivation for credit card holding, selection factors influenced by the credit cards? embedded features, the difference between the satisfaction and the loyalty level of CCC holders as compared to ICC holders, the customers? perceptions of ICCs, an investigation into whether ICCs are perceived as being inferior to CCCs, religious commitments of ICC holders as opposed to CCC holders, and how the socio-demographic characteristics may have deterministic power over the holding of ICCs and CCCs. As for the impact of credit cards, it is investigated through usage and the perceptions of credit cardholders. This study assembled primary data in Malaysia through a questionnaire survey which gathered 507 participants and semi-structured interviews with financiers or bankers,Shari?ah scholars,economist and cardholders.