Credit Card Growth Beaver Dam WI

"The future, my boy, is in plastics." When Dustin Hoffman's neighbor uttered this line in The Graduate, little did he know how prescient the statement would be, at least as it applies to the credit card industry. Although, the character was not referring to credit cards back when the film was released in 1967, no one can deny that the credit card market has been booming during the past 30 years.

Industries that expand at such a rapid rate often are vulnerable to fraud schemes devised by those seeking to capitalize on newfound criminal opportunities, dated security measures, and outdated laws. The credit card sector is no exception.

Approximately 124 million of the 193 million adults in the United States owned at least one credit card in 1994.(1) Experts expect this gap to narrow over the next 6 years at a rate of about 2.8 million new cardholders per year, as credit card companies inundate prospective customers nationwide with more than 2.7 billion mailings and pitches.(2)

The New York Times noted that "...the sheer pace of this growth raises the question of whether credit card lending is following in the checkered tradition of loans to third world countries and speculative real estate developers."(3) Indeed, recent statistical data indicate that credit card fraud is growing in proportion to industry advancements.

Around the world, bank card fraud losses to Visa and MasterCard alone have increased from $110 million in 1980 to an estimated $1.63 billion in 1995.(4) The United States has suffered the bulk of these losses - approximately $875 million for 1995 alone. This is not surprising because 71 percent of all worldwide revolving credit cards in circulation were issued in this country.(5)

Law enforcement authorities continually confront new and complex schemes involving credit card frauds committed against financial institutions and bank card companies. Perpetrators run the gamut from individuals with easy access to credit card information - such as credit agency officials, airline baggage handlers, and mail carriers, both public and private - to organized groups, usually from similar ethnic backgrounds, involved in large-scale card theft, manipulation, and counterfeiting activities. Although current bank card fraud operations are numerous and varied, several schemes account for the majority of the industry's losses by taking advantage of dated technology, customer negligence, and laws peculiar to the industry.

Copyright: Copyright © 2006-2008 Scott Burke

About the Author:

Scott Burke; President of iMAX Business Solutions in charge of sales, strategy, and execution and thus is responsible for managing all aspects of the company's marketing, communications, new accounts, and support. scott@cmscreditcar Do you have Credit Card Debt? Call 877-753-5127 Featured Local Company Merchant Warehouse 866-599-3217 Madison, WI Read more about Credit Card Growth Related Articles - How Accepting Credit Cards Can Increase Sales And Revenue Beaver Dam WI Accepting credit cards is becoming a must for entrepreneurs and small businesses in today's business environment. There are numerous social, demographic and technological factors combining to make plastic the payment form of choice for increasing numbers of people. - Merchant Credit Cards Beaver Dam WI - Have You Been Told Your Business Is High Risk? Beaver Dam WI - Understanding Credit Card Transaction Fees Beaver Dam WI - Credit Card Machines Beaver Dam WI - Curious Employee Foils Corporate Credit Card Fraud Scam Beaver Dam WI - Consumer buying habits: look how far we've come Beaver Dam WI - Business Credit Options Beaver Dam WI - Fast Merchant Account Beaver Dam WI - Comparing Business Cash Advance Loans: 5 Helpful Tips to Look For and Avoid Beaver Dam WI Related Articles - How Accepting Credit Cards Can Increase Sales And Revenue Beaver Dam WI Accepting credit cards is becoming a must for entrepreneurs and small businesses in today's business environment. There are numerous social, demographic and technological factors combining to make plastic the payment form of choice for increasing numbers of people. - Merchant Credit Cards Beaver Dam WI - Have You Been Told Your Business Is High Risk? Beaver Dam WI - Understanding Credit Card Transaction Fees Beaver Dam WI - Credit Card Machines Beaver Dam WI - Curious Employee Foils Corporate Credit Card Fraud Scam Beaver Dam WI - Consumer buying habits: look how far we've come Beaver Dam WI - Business Credit Options Beaver Dam WI - Fast Merchant Account Beaver Dam WI - Comparing Business Cash Advance Loans: 5 Helpful Tips to Look For and Avoid Beaver Dam WI Related Local Events BPWC Flower Sale Dates: 5/9/2009 - 5/9/2009 Location: Green Lake Chamber of Commerce Green Lake WI View Details Times: 9:00am Email: info@visitgreenlake.com Phone: 920-294-6363 Address: 550 Mill Street Green Lake WI Description: Green Lake Business and Professional Women's Club will hold their annual Flower Sale on Saturday, May 9, 2009 from 9am to noon in the Green Lake Area Chamber of Commerce Parking Lot at 550 Mill Street in Green Lake. Order forms will be available at the Chamber Office during business hours for you to per-order and pay. For more information please call Mary Rowley at 920-294-6363. Business Card Exchange Dates: 10/16/2008 - 10/16/2008 Location: Erdman Art Group Madison WI View Details Times: 4:30 PM - 6:30 PM Email: atorgeson@greatermadisonchamber.com Phone: 608-443-1954 Address: 5105 University Ave Madison WI Description: Six times a year, the GMCCs Business Card Exchange attendees gather for an early evening (4:306:30 p.m.) networking bonanza at a member business. GMCC members from businesses of all types and sizes swap business cards and engage in lively conversation over drinks and appetizersa perfect way to generate new contacts. Also often part of the mixever-popular raffle prize drawings and give-a-ways. Please wait... Rate Article       Save to My Articles Articles Insider Make your opinions count! Login or join Articles for free. Request articles and buying guides directly from our editorial staff Receive priority notice for all new subject launches Subscribe to an Articles RSS feed Save Articles and Ratings in "My Articles" Receive Offers and Discounts from our Stores and Vendors Recommended Articles My Ratings My Saved My Account           Bookmark   Search Plugin Topics: Advertising Engineering Home Services Retail & Consumer Services Business Services Entertainment Industrial Goods & Services Software Career Family Insurance Technology Cars Financial Services Internet Telecommunications Computer Hardware Food & Beverage Legal Transportation & Logistics Construction Health Pets Travel Education Home Electronics Real Estate Wedding Articles.DirectoryM.net | Search | About Us | Contact Us | Mobile | Blog | En Español Copyright © Interaction Media Group. All rights reserved.