Today, more and more people are using credit cards instead of
money to buy the things they need. Almost anyone who has a steady income and a
good work record can apply for a credit card. There are many credit cards
available: American Express, Master Chafe, VISA, and Diner’s Club are the names
of some of the most popular. If you have a credit card, you can
buy a car, eat a dinner, take a trip, and even get a haircut by charging the
cost to your account. In this way you can pay for purchases a month later
without any extra charge. Or you may choose to spread out your payment over
several months and pay only part of the total amount each month. If you do this,
the credit card company, or the bank that sponsors the credit card, will add a
small service charge to your total bill. This is very convenient for the
customer. With the credit card in your wallet or purse, you don’t have to carry
much cash. This saves your trips to the bank to cash checks or withdraw cash.
Also, if you carry credit cards instead of a lot of cash, you don’t have to be
concerned about losing your money through carelessness or theft. The card user
only has to worry about paying the final bill. This, of course, can be a
problem, if you charge more than you can pay for. Credit cards
are big business. Many banks sponsor their own credit card companies and issue
cards free to their customers. Other credit card companies charge their members
annual dues. The stores that accept credit cards must pay a small fee to the
credit card company — a percentage of the purchase price of the merchandise or
service, In turn, the credit card company promptly pays the store for the
merchandise or service. Credit card companies make a profit from the fees they
charge the store and also from the fees collected from customers who pay for
their charges in monthly installments. However, credit card companies sometimes
have problems collecting overdue payments from unreliable customers. Also, the
use of stolen, lost, or counterfeit credit cards by criminal has become a big
headache for the credit card company that’s responsible for the goods and
services illegally charged to its customers’ accounts.
(382 words) To deal with the cases of ______ makes the credit card companies worry most.