Credit Cards
Most Americans Should not Use Credit Cards.

For some, credit cards are a convenient and safe substitute for cash. It is particularly helpful, for example when making distance purchases, such as ordering something by mail or over the Internet. However, for the majority of Americans, credit cards have become debt traps that are fast resulting in a financial crisis not only for these individuals, but also for the country as a whole. According to Chu (2008), for example, an increasing number of Americans are using their credit cards to survive today's harsh economic climate. This trend is simply driving the crisis to further extremes. However, credit cards are not only used to stay afloat. Many Americans are driven by greed and consumerism to buy as much as they can with what they perceived to be their "wealth." This trend makes it almost impossible to resist buying a non-essential item when…...

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References

Block, S. (2010, Feb 8.). More consumers Just Say No to Credit Cards. USA Today. Retrieved from:  http://www.usatoday.com/money/perfi/credit/2010-02-08-creditcards08_CV_N.htm 

Chu, K. (2008, Mar. 30). More Americans using credit cards to stay afloat. USA Today. Retrieved from:  http://www.usatoday.com/money/perfi/credit/2008-02-28-credit-cards_N.htm 

Simon, J. (2007, Mar. 9). Experian Study finds Rise in U.S. Credit Card Usage. Retrieved from:  http://www.creditcards.com/credit-card-news/credit-card-usage-rising-1276.php

Credit Card Marketing on College Campus
College students are the perfect target for credit card companies looking to hook people into the world of revolving credit. They are the perfect candidate for such an ordeal since college students are at an age where they are transitioning from being teenagers living and depending on their parents, to becoming young adults who are going to live on their own, and most likely on the same campus where they attend school. Marketing in this environment, especially when freebies and great superficial incentives are given to a population that is looking at getting an immediate purchase without any immediate money down, makes it easier on these companies to get the right type of person wrapped into their world pretty quickly (Chu, 2008). But is this always the best option? Should credit card companies be marketing at a population that does not necessarily have the immediate…...

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References:

Mui, Y.Q. (August 27, 2010). Credit reforms reach campuses. In Washington Post.. Retrieved August 8, 2011, from

Lazarony, L. (August 21, 2009). Marketing plastic to students causes lawmakers, educators to melt down. In Bankrate.com. Retrieved August 8, 2011, from

Chu, K. (April 4, 2008). Credit cards go after college students. In USA Today. Retrieved August 8, 2011, from

Glater, J.D. (December 31, 2008). Colleges profit as banks market credit cards to students. In The New York Times. Retrieved August 8, 2011, from

Credit Cards
Consumer debt is a major problem In America, with credit card debt being the most prevalent type of consumer dent. A great deal of credit card debt is acquired while consumers are in college. This debt often follows them for many years after college is over and accounts for a great deal of the lifelong consumer debt. For this reason the marketing of credit cards to students has been a hotly debated issue. The research indicates that the marketing of credit cards to college students is indeed detrimental to their future financial stability and as such laws have been developed in the attempt to change the practice of marketing credit cards to students on college campuses.

Marketing credit cards to college students has been an issue on college campuses for many years. Pirog & Roberts (2007) reports that nearly 93% of all college students are in possession of at least…...

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Works cited

Nelson, M.C., Lust, K., Story, M., Ehlinger, E. (2008)Credit Card Debt, Stress and Key Health Risk Behaviors Among College Students. American journal of health promotion 22(6)

Pirog S.F., Roberts J.A. (2007) Personality and Credit Card Misuse Among College Students: The Mediating Role of Impulsiveness. The Journal of Marketing Theory and Practice. 15 (1), 65-77

Silver-Greenberg, J. (2009). New Rules for College Credit Cards.  http://www.businessweek.com/bwdaily/dnflash/content/may2009/db20090522_377377.htm

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…...

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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

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 did, by using their credit cards and falling deeper into debt.

Cultural critics therefore decry how such a materialism fueled by credit cards makes it impossible to live a life that is autonomous from such society-driven false concerns.

In summary, the availability of credit therefore social materialism, and object to how the American concept of "the good life" has come to be associated with consumer goods. The combination of easy credit and cultural taste therefore drives many Americans to live beyond their…...

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Works Cited

Bernthal, Matthew et al. "Credit Cards as Lifestyle Facilitators." Journal of Consumer Research. June 2005, 32:1.

A de Graaf, John et al. Affluenza: The All Consuming Epidemic. New York: Berrett-Koehler Publishers, 2001.

Kennickell, Arthur et al. "Recent changes in U, S. family finances: results from the 1998 Survey of Consumer Finances." Federal Reserve Bulletin, Board of Governors of the Federal Reserve System, January 2000, pp. 1-29.

King, Amanda Swift. "Untangling the Effects of Credit Cards on Money Demand: Convenience Usage vs. Borrowing." Quarterly Journal of Business and Economics Winter 2004.Vol. 43, Iss. 1/2

Other credit card issuers are proceeding more cautiously. MBNA, for example, the second-biggest card lender in the United States, after Citibank, said in April that it had set up an office in Shanghai to study the market (Kingson, 2004)."
Many credit card providers are waiting until the restrictions are lifted in China before determining whether or not to open. It is important to study the impact that the lifting of those restrictions will have on the Chinese credit card market.

With the impending events in Beijing, and the fact that foreign companies are soon going to be able to come into China and offer credit cards the potential is there according to the literature to grow a credit card market that is strong and safe, however being sure how consumers will react is an important factor in determining whether to keep working on the credit card market.

Methodology

There are several methods of…...

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REFERENCES

Sample bib

Adams, a.D. (1906) Electric transmission of water power. New York: McGraw. p.1

____. (1994) the Chinese Credit Card Market Analysed.

M2 Presswire;

Discussion 1: Provide an overview of the credit card issuing industry cost structures and revenue sourcesCredit card issuing companies generate revenues from different sources. One of the primary sources of revenue is consumer (merchant) fees collected from the cardholders for annual subscription, card renewal, card replacement, and redemption of reward points. Customer fees contribute around 9 percent of total industry revenues (Gambardella, 2020). Issuing companies also generate revenues from interest charged on conversion of outstanding amounts to easy Equated Monthly Instalments (EMI), balance transfers between cards, cash advances, and late payment (Hill, Schilling & Joes, 2016). Interest fees account for 36 percent of industry revenues (Gambardella, 2020).The highest revenues are generated from merchant or interchange fees (Gambardella, 2020). When a cardholder makes payment to a merchant through a credit card, the merchant does not receive the full amount. A certain processing fee is deducted, a portion of which is forwarded…...

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References

Gambardella, A. (2020). Credit Card Issuing in the US. S Industry Expert Summaries.

Report 5221. IBIS World. Retrieved from com.ezproxy.library.berkeley.org/us/en/iexpert/52221/iexperthttps://my-ibisworld

Hamilton, R. W., Rust, R. T., & Dev, C. S. (2017). Which Features Increase Customer Retention? MIT Sloan Management Review, 58(2), 79-85.

Hill, C. W., Schiling, M. ., & Jones, G. J. (2016). Strategic Management: Theory and Cases: An Integrated Approach (12th ed.). Boston, MA: Cengage Learning.

Multiple Counts of Identity Fraud
There is little doubt as to whether or not a person is subject to multiple violations of a state statute that makes it a crime to "knowingly obtain, possess, use, or transfer a means of identification of financial information of another" (Wash. 2006) if a person attempts to use a credit card that is not his or hers more than once. Such a person certainly is liable for multiple criminal counts. The logic that reinforces this assertion is quite clear. In most instances, states consider it a crime to attempt to utilize the financial information or some other means of identification of another -- when a person does so knowingly. Each time a person makes such an attempt, he or she is committing a crime. Moreover, there was a case that helped to establish this precedent in the early part of the last decade. In that…...

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References

Court of Appeals of Washington, Division 1. (2004). State v. Leyda.   / Retrieved from http://caselaw.findlaw.com 

39). Credit card fraud, though, is not playground for banks for numerous reasons, including: (a) online payment fraud erodes consumer confidence and trust in their brands; for many consumers, a breach of security prompts a knee-jerk reaction of closing accounts and moving to another financial institution; and - the liability for fraudulent transactions shifts to the issuing financial institution with costs ranging between $20 and $30 to process each chargeback. The author also provides a critical review of what initiatives are being taken to prevent credit card fraud citing the pros and cons of each, but also notes that the problem is complex and the situation remains dynamic.
Scott, . (2007). Credit card use and abuse: A Veblenian analysis. Journal of Economic Issues, 41(2), 567-569. In this study, Scott provides a comprehensive history of the credit card and how its use exploded over the last 20 years and notes that…...

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References

About Citigroup. (2008). Citigroup. [Online]. Available: https://www.citicards.com/cards/wv/detail.do?screenID=612.

Identity theft solutions. (2008). Citigroup. [Online]. Available: https://www.citicards.com/cards/wv/detail.do?screenID=700#InternetSecuritySpecialists.

Internet fraud. (2008). Federal Bureau of Investigation. [Online]. Available:  http://www.fbi.gov/majcases/fraud/internetschemes.htm .

Scott, R. (2007). Credit card use and abuse: A Veblenian analysis. Journal of Economic Issues, 41(2), 567-569.

History of Credit Cards
The first issuers of credit cards were post-World-War I-era merchants whose customers began arriving from more distant locales by the first automobiles that were widely available to ordinary Americans (Stephy, 2009). Originally, they were intended to allow customers to make payments on unplanned purchases without having to return to their homes to retrieve their cash or their checkbooks (Stephy, 2009). In issuing credit cards, department stores and hotels were actually following the practice first introduced in modern times by gasoline service stations; they began issuing credit cards precisely because their products and services were most in demand by consumers who were too far from home to expect them to go back home for their money (Woolsey & Starbuck-Gerson, 2009). Initially, those credit cards were issued by individual gasoline companies and they were only good for those specific chains (Woolsey & Starbuck-Gerson, 2009). Even that practice had…...

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References

Stephy, M.J. "A Brief History of: Credit Card." Time (April 23, 2009). Retrieved online from:  http://www.time.com/time/magazine/article/0,9171,1893507,00.html 

Woolsey, B. And Starbuck-Gerson, E. "The History of Credit Cards" (May 11, 2009)

Retrieved online from:

 http://www.creditcards.com/credit-card-news/credit-cards-history-1264.php

It is important to remember that the credit card's promotional strategies must work within the context of the overall brand strategy for Virgin.
Overall, the strategy thus far has been highly successful. The company's strategy going forward should build on the work that has already been done, but recognize the shift in dynamic both in the industry and in terms of Virgin's own position within the industry. These three recommendations facilitate that, while enhancing the perception of value that the customers have with respect to Virgin.

Q2. Loyalty schemes in general are fading from prominence in the industry, and few of them offer much value to the customer. At present, it is difficult to determine the effectiveness of the loyalty scheme at Virgin Money simply because the credit cards have barely left the launch phase. Certainly people are attracted to the cards, but the next couple of years will see if…...

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Works Cited:

No author. (2004). Loyalty Schemes for Card Issuers: Do They Justify their Costs? Business Wire. Retrieved May 7, 2009 from  http://findarticles.com/p/articles/mi_m0EIN/is_2004_July_30/ai_n6133818/ 

No author. (2009). Australia Credit Cards. Economy Watch. Retrieved May 7, 2009 from  http://www.economywatch.com/australia-credit-cards/ 

No author. (2008). Westpac Banking -- Virgin Money Credit Card Deal. Reuters. Retrieved May 7, 2009 from  http://www.reuters.com/article/pressRelease/idUS186058+03-Apr-2008+RNS20080403 

No author. (2008). Virgin Dumps Stakes in Credit Card Market. Business Spectator. Retrieved May 7, 2009 from  http://www.businessspectator.com.au/bs.nsf/Article/Virgin-Money-Westpac-renew-credit-card-deal-DC85Z?OpenDocument

Interview: Individual Debt and How to Avoid ItFor this paper, I interviewed a financial advisor with 10+ years of experience. The topic was individual debt and how to avoid it. The summation of the interview is as follows: One of the most important things to do when trying to avoid individual debt is to have a realistic budget. This means taking into account all income and debts, both current and future. It is also important to make sure that essential expenses are covered first, such as food and shelter. Once essential expenses are paid, any extra money should be allocated towards debt repayments. If there is no extra money available, then it may be necessary to cut back on non-essential spending in order to free up more funds. Another key tip is to avoid using credit cards unless absolutely necessary. If possible, it is best to pay for items with…...

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 easier to do so. The rising credit card debt problem in the United States is already a frequently covered issue and debit cards may be the next item of discussion. Debit cards may make the consumer debt problem worse by extending electronic payment access to customers who don't qualify for credit cards. Unlike credit cards, debit cards require the cash to be available in an account, but it doesn't mean that this cash wasn't earmarked for other necessities. And, it…...

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Bibliography

Talcott, S. (2004, August 13). Cash loses currency. The Boston Globe. Retrieved February 10, 2005 from Web site:  http://www.boston.com/business/articles/2004/08/13/cash_loses_currency

Cybercrime Prevention
The fate of Target when it comes to cybercrime is fairly well known. They hit the headlines for all the wrong reasons when their customers' credit card information was exploited during a holiday season in recent years. Given that and given the ominous and ever-present threat of cybercrime, this brief report shall serve as a good guideline to help prevent cybercrime events and damages, or at least mitigate them. The lessons learned from Target's own breach are on full display in this report but there are other real-world lessons, events and principles that should also be considered and remembered.

Best Practices

Invest in Software & Hardware

• Do not go cheap or cut corners on hardware

• Do not go cheap or cut corners on software

• Make sure all software is fully functional and licensed

• Ensure uptime of all systems is as close to 100% as possible

• Use modern and state of the…...

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References

BSIMM. (2017). Penetration Testing Types & Remediation. bsimm.com. Retrieved 5 June 2017, from  https://www.bsimm.com/framework/deployment/penetration-testing/ 

Ou, G. (2007). TJX's failure to secure Wi-Fi could cost $1B | ZDNet. ZDNet. Retrieved 5 June 2017, from  http://www.zdnet.com/article/tjxs-failure-to-secure-wi-fi-could-cost-1b/ 

Winter, M. (2014). Home Depot hackers used vendor log-on to steal data, e-mails. USA TODAY. Retrieved 5 June 2017, from  https://www.usatoday.com/story/money/business/2014/11/06/home-depot-hackers-stolen-data/18613167/

redit Analysis Smehra
redit Analysis for Neal Harris

Neal Harris recently submitted his credit application for our consideration. Mr. Harris is 45 years old, married and has 2 children. He currently works at Franklin Industries where he has been employed as office manager for 2 years. Prior to that, he was in sales at Providencial Insurance for 3 years. Neal has resided at his current residence in Tennessee for 1 year.

His credit application has been filed in joint with his wife, Helen Harris, 43 years old. Helen has recently returned to the workforce from being a housewife. She is also employed by Franklin Industries where she has been marketing director for 4 months. Both individuals have a checking and savings account with AmSouth. The purpose of their loan is for a 2003 hevrolet Tahoe. Following is a review of the 5 's of redit for Mr. And Mrs. Harris and conclusion for…...

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Conclusion

After reviewing the joint credit application for Mr. And Mrs. Harris, I have drawn the conclusion that they should be granted the loan under the terms listed. These are for a loan of $24,000, repayable over 48 months at 4%, minimum monthly payment of $540. While Neal Harris has on record a Chapter 7 file in January, 2001, review of their assets and liabilities reveals that they are suitable candidates for this loan. They also demonstrate timely repayments to their current obligations which include a mortgage with Countrywide, an auto payment with Nissan, and 4 credit cards, one of which is currently at a 0 balance.

The couple is also within the 20% average for credit capacity- net income, and have also demonstrated that they will be able to take on the extra expenditure through this loan through their supplementary income listed. I recommend that AmSouth give Mr. And Mrs. Harris their requested loan under the conditions mentioned.

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POS, or point of sale, systems are critical to allowing a business to make money, since they are where a customer pays for goods or services.  If it is difficult for a customer to complete a transaction, then it does not matter how easy-to-use the rest of your website is.  This makes POS systems a critical component of any online business. 

Point of Sales (POS) Research Paper Topics

1. Why have so many small businesses rejected implementing a central POS system, instead choosing to still use a combination of other methods including separate cash registers, credit card terminals, and bookkeeping programs?
2. Does using a....

There are several steps individuals can take to achieve financial independence in today's economy:

1. Create a budget and stick to it: This is the foundation of any financial plan. By tracking your income and expenses, you can identify areas where you can cut back and save more money.

2. Save and invest wisely: Make saving a priority by automatically transferring money into a savings or investment account each month. Consider investing in assets that provide long-term growth potential, such as stocks, bonds, or real estate.

3. Pay off high-interest debt: Focus on paying off high-interest debt, such as credit card debt, as....

Consequences of Missing a Due Date

Missing a due date can have a range of consequences, depending on the nature of the obligation and the policies of the relevant organization or entity. Here are some potential repercussions:

Financial Penalties:

Late fees: Many creditors impose late fees for overdue payments, which can accumulate over time and add a significant cost to the original debt.
Interest charges: Some debts, such as credit card balances or loans, accrue interest charges when payments are not made on time. These charges can increase the overall amount owed and make it more challenging to repay the debt.
Damaged....