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Credit Card And It S Effect

Credit Card and it's effect.

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Title: Credit Card and it's effect.

Essay Details:

Subject: Business

Author: Wanda M

Date: August 14, 2015

Level: University

Grade: A

Length: 10 / 2752

Essay text:

It was the Diner's Club who initiated; however, it was not until the late 50s when the banks entered the credit card industry and revolutionized it by allowing balances to be carried over from month to month. For more than a decade, the credit card industry was growing at a very slow rate, largely due to the fact that only local bank cards were accepted by the merchants. The national system to process credit card transactions developed at 1966 when Bank of America began to license its BankAmericard credit card logo to the other banks. The system however becomes a chaos at the late 60s as the franchisees' attempts to undercut competitors by the means of cheating...

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