Visa perhaps the most successful company - GoFuckYourself.com

Drake · 03-19-2005, 10:40 AM

Are Credit Cards underated? I may be wrong but in all the lists of "Greatest Inventions" of the past 50 years, I don't recall the credit card among them. But as far as commerce is concerned is it not the single greatest invention since paper money? Our industry currently relies on the credit card and many offline industriesy do to. To an extent even the Bill Gates' and Walmarts' of the world depend on it.

I didn't realize that it was only in the 1970's that credit cards became widely available (http://www.didyouknow.cd/creditcards.htm). In less than 40 years Visa and the other card associations have grown into enormous entities that seem to have a life of their own. This is a history I'm just beginning to read about and understand. I'm just curious about how it all began because it is the backbone of our industry.

It's amazing that so much debt exists and that a company actually makes money from it. It's an amazing numbers game that have them laughing to THEIR banks.

Nearly 144 million Americans have general-purpose credit cards.

I'm checking out http://www.pbs.org/wgbh/pages/frontline/shows/credit/ for more info

After Shock Media · 03-19-2005, 11:13 AM

Curious since you have the list. Where on it does the Ink Jet printer rank? I would assume way up at the top.
No I am not being funny.

psili · 03-19-2005, 11:17 AM

Reminds me, in a way, of the IRS; getting billed for the money you spend instead of the money you make. Total genious, as you have to spend money you make and most people want to live outside their current means. Good for them.

Jakke PNG · 03-19-2005, 11:19 AM

Creditcards should be for business purposes only, I pity the fool who lives his/her life in debt.

..save karen (or whatshername)

After Shock Media · 03-19-2005, 11:23 AM

Quote:

Originally Posted by TeenGodFather

Creditcards should be for business purposes only, I pity the fool who lives his/her life in debt.

..save karen (or whatshername)

They have also become the godsend of those looking for easy start up funds to get a business off the ground. A whole lot easier to get 40+k to start your small business with a few Visa & Mastercard accounts than it is to get a traditional bank business loan.

Jakke PNG · 03-19-2005, 11:40 AM

Quote:

Originally Posted by Lord of the fungi

They have also become the godsend of those looking for easy start up funds to get a business off the ground. A whole lot easier to get 40+k to start your small business with a few Visa & Mastercard accounts than it is to get a traditional bank business loan.

..as I said in my post.

03-19-2005, 10:40 AM	#1
Drake Hello world! Industry Role: Join Date: Mar 2003 Posts: 12,508	Visa perhaps the most successful company Are Credit Cards underated? I may be wrong but in all the lists of "Greatest Inventions" of the past 50 years, I don't recall the credit card among them. But as far as commerce is concerned is it not the single greatest invention since paper money? Our industry currently relies on the credit card and many offline industriesy do to. To an extent even the Bill Gates' and Walmarts' of the world depend on it. I didn't realize that it was only in the 1970's that credit cards became widely available (http://www.didyouknow.cd/creditcards.htm). In less than 40 years Visa and the other card associations have grown into enormous entities that seem to have a life of their own. This is a history I'm just beginning to read about and understand. I'm just curious about how it all began because it is the backbone of our industry. It's amazing that so much debt exists and that a company actually makes money from it. It's an amazing numbers game that have them laughing to THEIR banks. Nearly 144 million Americans have general-purpose credit cards. I'm checking out http://www.pbs.org/wgbh/pages/frontline/shows/credit/ for more info

03-19-2005, 11:17 AM	#3
psili Confirmed User Join Date: Apr 2003 Location: Loveland, CO Posts: 5,526	Reminds me, in a way, of the IRS; getting billed for the money you spend instead of the money you make. Total genious, as you have to spend money you make and most people want to live outside their current means. Good for them. __________________ Your post count means nothing.

03-19-2005, 11:19 AM	#4
Jakke PNG ex-TeenGodFather Industry Role: Join Date: Nov 2001 Location: Suomi Finland Perkele Posts: 20,306	Creditcards should be for business purposes only, I pity the fool who lives his/her life in debt. ..save karen (or whatshername) __________________ ..and I'm off.

03-19-2005, 11:13 AM	#2
After Shock Media It's coming look busy Join Date: Mar 2001 Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn". Posts: 35,299	Curious since you have the list. Where on it does the Ink Jet printer rank? I would assume way up at the top. No I am not being funny.