Credit Cards

Credit Cards1Purpose StatementTo convice you that cash is better then credit cards 2IntroductionHistoryCredit CardsBanknotesBuying PowerCredit CardsBanknotesNegative of Credit cardsInterest RatesIdentity TheftTipping at small businesses3History of Credit CardsFirst Invented by John Biggins a banker from Brooklyn in 1946First Plastic debuted plastic card by the American Dinning Club in 1951American Express introduces it purple card in 1959- rchases could only be made locally, and Charg-It cardholders account at Biggins' bank

- 1951, there were 20,000 Diners Club cardholders. A decade later, the card was replaced with plastic. Diners Club Card purchases were made on credit, but it was technically a charge card, meaning the bill had to be paid in full at the end of each month. - In 1958 the company emerged into the credit card industry with its own pruduct, a purple charge card for travel and entertainment expenses. In1959, American Express introduced the first card made of plastic (previous cards were made of cardboard orcelluloid). American Express soon introduced local currency credit cards in other countries. About 1 million cards were being used at about 85,000 establishements withinthefirst five years, both in and out of the U.S. In the 1990s, the company expanded into an all-purpose card.American Express, or Amex as it often is called, is about to celebrate its 50thcredit card anniversary

4First two credit cardAmerican Dinning Club Card

American Express Purple Card

5History of BanknotesPaper bills were developed in the Tang Dynasty in 618 A.D.True paper money did not appear until the 11th centuryEuropeans adopted it in the 13th centuryReintroduced in 1800s in Napoleonic Europe

Papper money was eliminated because of financial crisis in the late 14th because of financial crisis in china.Marco polo helped spread it through china6Buying Power of credit cardsYou can buy anything that you don't have to buy. accepted almost everywhere.some cards have special benefits

It dangerous thinking you have more then you can spend because you end up spending to much money and putting it on other card

Cash is accepted everywhere you gospecial benefits are low interest, frequent flyer, ow or now annual fees on card, gold platinum cards, and business credit cards

7Buying power of BanknotesAccepted everywhere a financial economy existNever expiresCan buy everything a credit card can.

8Interest RatesBased on your credit scoreBased on you signing up for that particular card.

CardsLowHighcapital one venture one11.921.9Discover it10.9922.99Capital one Quicksilver12.922.9Capital One Card Finder ToolvariousvariousCiti Simplicity12.9922.99Citi Diamond11.9921.99Citi Double Cash12.9922.99BankAmericard Visa10.9920.99BankAMericard Cash Rewards12.9922.99Blue Cash Everyday12.9921.99A measure of credit risk calculated from a credit report using a standardized formula. Factors that can damage a credit score include late payments, absence of credit references, and unfavorable credit card use

An example of this is fico score which is fair Isaac corporation

9Credit Card fraudIt a form of identity theftInformation to accomplish this is provided on your credit card statements.Usually very hard to track.https://www.youtube.com/watch?v=82f88s1Ldt8

illegal use of someone else's personal identifying information (such as a Social Security number) in order to get money or credit

Can get your credit card stamen out of anyone mailbox.

10Tipping at Small BusinessesTip are all calculated at they end of the day.Owner of the business has to go through all the slips. Waiters dont usually get complete tips.

11SummaryHistoryCredit CardsBanknotesBuying PowerCredit CardsBanknotesNegative of Credit cardsInterest RatesIdentity TheftTipping at small businesses12Questions

13Bibliographyhttp://www.creditcards.com/top-credit-cards.php?a_aid=1003&a_cid=1000&a_did=1005&adused={creative}http://www.bankofengland.co.uk/banknotes/Pages/about/history.aspxhttp://www.tigerdroppings.com/rant/p/46709877/tipping---small-business-owner/

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