Credit Cards

Industry Information about Credit Cards

Credit cards remain one of the most profitable industries in the United States. During economic booms, or economic repressions, credit cards remain in business. The beauty of credit cards is that is allows consumers purchase products without cash and pay for them at a later date. From the beginning, and even more so today, credit card companies have become extremely competitive in attracting customers by offering low interest rates. The North American Credit Card Association provides in-depth information on various type of credit cards and businesses.

Recent Trends in Credit Cards

Credits cards are somewhat of a recent development. For example, the VISA Company traces its history back to 1958 when the Bank of America began its BankAmericard program. Then in the mid-1960s, the Bank of America began to license banks in the United States the rights to issue its special BankAmericards. The name Visa was adopted internationally in 1977 to cover all these cards. VISA became the first credit card to be known worldwide. Credit cards in Chicago and credit cards in Miami contribute to the industries increasing sales, because of prominent companies such as American Express located in Illinois and Capital One in Florida.

Businesses in This Category

This classification covers establishments primarily engaged in the issuing and history of credit cards and credit card companies.