Study Document
Credit Cards Were Devised in Essay
In fifty years, the heavy spending that credit cards facilitate will be viewed negatively, but credit cards themselves will still exist and most likely without stigma. The use of credit cards will be even more widespread, as fewer purchases will be done on site. Credit cards may be scorned by individuals who have acquired too much debt, but on the whole their benefits to society will not be overlooked.
The dramatic increase in consumerism in the United States over the past century received some contribution from credit cards. However, there are a number of other contributing factors as well. The impacts of credit cards have been both positive and negative. They hurt the country economically, facilitating low savings rates and wealth transfer out of the country. They do, however, offer unique convenience and security in today's mobile, electronic world, the same benefits that drove their invention in the face of an increasingly mobile society over eighty years ago. Over time, it is those conveniences that will dictate history's view of the credit card.
Works Cited:
Stephey, M.J. (2009). A brief history of credit cards. Time Magazine. Retrieved December 10, 2009 from http://www.time.com/time/magazine/article/0,9171,1893507,00.html
Garcia, G. (1980). Credit cards: An interdisciplinary survey. The Journal of Consumer Research. Vol. 6, 4, 327-337.
Federal Reserve Bank. (2009). Consumer Credit. Federal Reserve Bank. Retrieved December 10, 2009 from…
Sample Source(s) Used
Works Cited:
Stephey, M.J. (2009). A brief history of credit cards. Time Magazine. Retrieved December 10, 2009 from http://www.time.com/time/magazine/article/0,9171,1893507,00.html
Garcia, G. (1980). Credit cards: An interdisciplinary survey. The Journal of Consumer Research. Vol. 6, 4, 327-337.
Federal Reserve Bank. (2009). Consumer Credit. Federal Reserve Bank. Retrieved December 10, 2009 from http://www.federalreserve.gov/releases/g19/current/default.htm
Related Documents
Study Document
Credit Cards the Mid-1990s Saw
As with many diseases, affluenza is contagious. Cultural conditioning through media and advertising promote an image of "the good life" that is associated with possessions. Instead of hard work and frugality, possessions such as fancy cars, McMansions and designer clothes were now the symbols of success. It was therefore not enough to be wealthy, one had to flaunt it as well. Meanwhile, those who did not have wealth could pretend that they
Study Document
Credit Cards and Banks
In summary, I feel that I have learned to use a credit card in a way that benefits me more than the merchant or the bank. For other consumers increasing reliance on electronic payments may be a problem, especially for the newer and lesser understood debit cards. There appears to be certain classes of consumers that view a plastic card differently from actual cash or that purchase more because it's
Study Document
EMV Standard Implementation in Iranian
The rates of reduction of these cases were noted to be about 20% per year as from 2004 when the standards were introduced (UK Payments Administration LTD 2009). The exact phenomenon observed is as indicated in Appendix A. Mechanism The mechanism involved in the protection of the card details by means of the EMV technology is discussed by various scholars and organizations. SPA (2010, 1) clearly explains that the need for
Study Document
Eastcompeace: Strategic Management Data Presentation,
To evaluate weak areas of the current strategy and propose solutions for improvement. 2.0 LITERATURE REVIEW 2.1 Introduction According to Zou and Cavusgil (1995), the subject of global strategy has attracted a lot of attention in the recent past. Zou and Cavisgil (1995) calim that a major reason behind this has been the increasing progress in the telecommunications and other technological areas that has brought the world closer and transnational existence of organizations Eastcompeace
Study Document
Future Implications of Improving Health
0, 4.0, and 4.5 percentage points in FYs 1982, 1983, and 1984, respectively, for States whose growth exceeded certain targets, OBRA-81 also reduced eligibility for welfare benefits, thus making it harder for poor families to qualify for Medicaid (Klemm, 2000). The legislation of this era began to weaken this link by specifying eligibility criteria based on income in relation to Federal poverty guidelines. In 1991, spending controls were established, provider
Study Document
Predatory Lending and the Subprime
And we must take into consideration what would happen if, somewhere down the line, we encountered the very real possibility of changed financial circumstances. The financial knots we're tying ourselves into now, as we scramble to purchase homes and wind up owning less of them, can have serious long-term ramifications. Because today's overall tighter finances often necessitate putting off major purchases, many adults don't buy their first home until they're