Credit card company | Wikipedia audio article
Channel: wikipedia tts
Date: 2019-01-28

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Credit_card


00:01:39 1 Technical specifications
00:04:00 2 History
00:04:10 2.1 Edward Bellamy's iLooking Backward/i
00:04:45 2.2 Charge coins, medals, and so on
00:06:34 2.3 Early charge cards
00:06:44 2.3.1 Charga-Plate
00:08:26 2.3.2 Air Travel Card
00:09:50 2.3.3 Early general purpose charge cards: Diners Club, Carte Blanche, and American Express
00:10:50 2.4 BankAmericard and Master Charge
00:15:19 2.5 Development outside North America
00:18:01 2.6 Vintage, old, and unique credit cards as collectibles
00:19:33 3 Usage
00:24:32 3.1 Advertising, solicitation, application and approval
00:25:20 3.2 Interest charges
00:28:43 3.3 Grace period
00:29:58 3.4 Parties involved
00:32:55 3.5 Transaction steps
00:35:45 3.6 Credit card register
00:37:23 4 Features
00:38:14 4.1 Consumers' limited liability
00:38:41 5 Types
00:38:51 5.1 Business credit cards
00:40:38 5.2 Secured credit cards
00:44:11 5.3 Prepaid cards
00:47:06 5.4 Digital cards
00:47:28 6 Benefits and drawbacks
00:47:39 6.1 Benefits to cardholder
00:49:17 6.1.1 Comparison of credit card benefits in the US
00:49:43 6.2 Detriments to cardholders
00:49:53 6.2.1 High interest and bankruptcy
00:51:47 6.2.2 Weakens self regulation
00:52:22 6.3 Detriments to society
00:52:32 6.3.1 Inflated pricing for all consumers
00:54:07 6.4 Benefits to merchants
00:56:06 6.5 Costs to merchants
00:59:16 7 Security
01:06:55 7.1 Code 10
01:07:36 8 Costs
01:07:51 8.1 Interest expenses
01:08:42 8.2 Operating costs
01:09:24 8.3 Charge offs
01:10:41 8.4 Rewards
01:12:14 8.5 Fraud
01:14:23 9 Revenues
01:14:37 9.1 Interchange fee
01:16:06 9.2 Interest on outstanding balances
01:17:18 9.3 Fees charged to customers
01:18:55 10 Over-limit charges
01:19:05 10.1 United States
01:20:21 10.2 United Kingdom
01:22:34 11 Neutral consumer resources
01:22:45 11.1 Canada
01:24:16 12 Controversy
01:28:45 12.1 Hidden costs
01:30:27 13 Credit cards in ATMs
01:32:20 14 Credit cards as funding for entrepreneurs
01:33:50 15 Problems



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SUMMARY
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A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts plus the other agreed charges. The card issuer (usually a bank) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. In other words, credit cards combine payment services with extensions of credit. Complex fee structures in the credit card industry may limit customers' ability to comparison shop, helping to ensure that the industry is not price-competitive and helping to maximize industry profits. Due to concerns about this, many legislatures have regulated credit card fees.A credit card is different from a charge card, which requires the balance to be repaid in full each month. In contrast, credit cards allow the consumers a continuing balance of debt, subject to interest being charged. A credit card also differs from a cash card, which can be used like currency by the owner of the card. A credit card differs from a charge card also in that a credit card typically involves a third-party entity that pays the seller and is reimbursed by the buyer, whereas a charge card simply defers payment by the buyer until a later date.