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DETAILS YOU MIGHT NOT KNOW ABOUT CREDIT CARDS

Added on: 24th Jun 2016

 

ON THE VISA LOGO, THE BLUE REPRESENTS

THE SKY AND GOLD REPRESENTS THE HILLS IN

CALIFORNIA WHICH IS WHERE BANK OF AMERICA

WAS FOUNDED (VISA USED TO BELONG TO

THE BANK OF AMERICA)

On the VISA logo, the blue represents the sky and gold represents the hills in California which is where Bank of America was founded (VISA used to belong to Bank of America)

 

 

EVERY SECOND THERE ARE MORE THAN 10,000

CREDIT TRANSACTIONS AROUND THE WORLD

Every second there are more than 10,000 credit transactions around the world

 

 

ALL CREDIT CARDS ARE THE SAME SIZE

(85.60MM X 53.98MM)

All credit cards are the same size (85.60 mm x 53.98 mm)

 

 

THE AVERAGE CREDIT CARD DEBT FOR AN

AMERICAN ADULT IN 2013 WAS NEARLY $5,000

The average credit card debt for an American adult in 2013 was nearly $5,000

 

 

WOMEN ARE MORE LIKELY THAN MEN TO PAY THE

MINIMUM AMOUNT AND CARRY A CREDIT CARD BALANCE

Women are more likely than men to pay the minimum amount and carry a credit card balance

 

 

THE MINIMUM PAYMENTS ON CREDIT CARDS ARE

SO LOW BECAUSE THEY ARE SPECIFICALLY

DESIGNED TO GET PEOPLE INTO DEBT

The minimum payments on credit cards are so low because they are specifically designed to get people into debt

 

 

THIS IS BECAUSE CREDIT CARD COMPANIES ONLY

MAKE MONEY WHEN YOU DON'T PAY OFF YOUR

DEBT AT THE END OF EACH MONTH. WHY? THEY

MAKE THEIR MONEY ON INTEREST AND LATE FEES

This is because credit card companies only make money when you don't pay off your debt at the end of each month. Why? They make their money on interest and late fees.

 

 

IF YOU EVER MAKE TRANSACTIONS ONLINE OR OVER

THE PHONE, KNOW THAT IT IS ILLEGAL FOR A

VENDOR TO REQUIRE PERSONAL INFORMATION OF YOU.

IF YOU DO NOT WANT TO GIVE OUT YOUR HOME ADDRESS,

FOR EXAMPLE, THEY CANNOT DENY THE TRANSACTION

If you ever make transactions online or over the phone, know that it is illegal for a vendor to require personal information of you. If you do not want to give out your home address, for example, they cannot deny the transaction.

 


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