The secret history of the credit card, discussion help

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Business Finance

Description

Many of you are beginning to build your creditworthiness by opening loans (Notes Payable) and taking on your first credit card (Accounts Payable).

That said, DB 3 includes a video for you to watch. Additionally, I require at least two pages writing you will need to complete and attach to this DB.

Here is the link needed to view the video (please copy and paste into a new browser):

http://www.pbs.org/wgbh/pages/frontline/shows/cred...

And watch "The secret history of the credit card".

**Many of you have already encountered credit cards and may have advice or suggestions for your colleagues, please voice your comments in at least two pages of word file and submit to me.** Total points of DB 3 is 50.

To clarify, DB 3 includes two parts. First, you are required to watch the video about the history of credit card, and answer the questionnaire.

Secondly, at least two-page of writing is required based upon your own experience of using credit card, please share your advise and comment with us.

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NAME: Accounting 101 Movie: Secret History of the Credit Card DATE: Answer the following questions based on the movie as provided in the discussion board. 1. How did the lack of a usury law in South Dakota (a.k.a. as the Marquett Decision) affect the credit card industry? 2. Approximately (at the time of this movie) how many Americans have credit cards? Million 3. According to the movie, how many Americans pay off their credit card bill in full every month? Million The movie refers to this group as . 4. 90 million of Americans do not pay off their credit card bill in full every month, is this number startling to you? Or is this an acceptable number? 5. According to the movie, what is the average credit card debt for a family? 6. Are customers who make lower payments on their credit cards more profitable to the credit card companies? Why? 7. What is meant by the term ‘Universal Default’? Were you aware of this practice? And will it change how you manage your credit card payments? 8. Are the credit card companies conducting business in an ethical manner? Explain your answer.
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Explanation & Answer

Please let me know if there is anything needs to be changed or added. I will be also appreciated that you can let me know if there is any problem or you have not received the work Good luck in your study and if you need any further help in your assignments, please let me know Can you please confirm if you have received the work? Once again, thanks for allowing me to help you R MESSAGE TO STUDYPOOL NO OUTLINE IS NEEDED AS IT IS A DISCUSSION

NAME:

Accounting 101
Movie: Secret History of the Credit Card
DATE:

Answer the following questions based on the movie as provided in the discussion board.
1. How did the lack of a usury law in South Dakota (a.k.a. as the Marquette Decision) affect the
credit card industry?
Government law does not command loan fee limits for charge cards, but rather Visa
organizations must take after certain elected standards under the Credit Card Accountability,
Responsibility, and Disclosure Act of 2009 (Credit CARD Act). A few, however not all, states have
"usury" laws that utmost the intrigue a bank may charge on an obligation. In any case,
government court choices and statutes have essentially exempted Mastercard organizations by
enabling them to charge clients, paying little mind to their condition of living arrangement, the
loan fees permitted by the state in which they are fused. This implies there are no restrictions
on charge card financing costs by and by, regardless of the possibility that specific points of
confinement stay on the books, the main exemption being the 18 percent intrigue restraint for
governmentally contracted credit unions. Hence, an ideal approach to secure yourself as a
borrower is to be educated about your governmentally ensured rights to loan ...


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