In the United States is the birthplace of the credit card industry in the United States, credit card is a total market spontaneous.In 1915, the United States, some of the retailing industry, catering, entertainment company to attract customers, merchants and petrol expanded turnover, within a certain range to issue a metal badge as credit chip, customers with chips in the stores and semicolons goods, solely on credit.In 1950, the United States, Diners Club issued a formal charge CARDS, is the world's first plastic money.In 1951, the United States, franklin national bank of New York issued the first in the modern sense of credit CARDS, allowing the cardholder specified in the specified limit internal consumption.After more than 50 years of development, America has the world's largest credit card industry
1) size
By 2002, a total population of 260 million in the United States, the cardholder, a total of 124 million families have at least one credit card, a total of 84 million households.523 million credit CARDS, receivables totaling $660.9 billion;Bank card in the non-cash payment share rose from 2% in 1995 to 11.6%;ATM, a total of 200000 units, more than 30% of the world.
(2) high concentration
One is the card issuers concentration is high.2 it is to accept single high concentration.The previous 10 single institutions of the market share rose to 83%.3 it is to receive a single network concentration is high.In 2001, Star, VISA by Concord
Interlink, FDC Nyce ATM and debit card processing network concentration above 90%, and by the VISA,
MasterCard credit card processing network consisting of more than 95% concentration.
(3) improve debit card status
The us has been to credit card products.2002 all payments, credit card transactions amounted to 1.8 billion yuan, accounting for 18% of the total amount of 9.8 billion yuan trading (35%, including check cash 35%, other 5%).But since the 1990 s, the rapid growth of debit CARDS, growth has more than credit CARDS.4 quarter of 2002, the United States credit card retail sales were $44.7 billion, up 2%;Debit card sales of $29 billion, an increase of 28%.By the end of 2002, the national debit card hairpin quantity accounted for 34% of the total hairpin quantity, accounting for 35% of the card retail sales, accounting for 40% of the total volume of credit card.The status of debit card scale expands unceasingly, in pay is increasing day by day.
(4) to receive a single network diversity
The United States established a credit card, debit card processing of single network respectively.One is established mainly deal with the global coverage of credit card of four single network and taking single brand, including VISA, MasterCard debit card business has a large number of processing.2 it is to set up a specialist handling passwords ATM/debit CARDS and ATM business EFT single network, three EFT network manage business Concord in 2002 Star, VISA Interlink, FDC Nyce occupy market share of 58%, 11% and 58% respectively.FDC, after acquisition of Concord in 2003, the company has become one of America's largest debit card processors.Three is the clearing house network automatically.Some merchants bypass and EFT network credit card network, through the low cost of ACH check processing network issue zero sales debit card.In the first half of 2002 the United States mainly collect the basic information of the single brand are shown in table 2 1200 years the United States EFT debit card dealers rankings are shown in table 2.
(5) the profit ability
The United States by credit card products, industry profit is higher.In 2002, the cycle of interest income accounts for the proportion of total income is 63.31%, borrow cash income accounted for 16.37%, information exchange fee income accounted for 11.73%.Credit card of bank of America in 2002 revenue totaled $10.5 billion, accounting for 10% of all bank income, falling by 2.6% over the previous year.VISA, MasterCard in 2001 and 2001, the after-tax return on assets of 2.18% and 1.99%, slightly lower, but still higher than the return on assets of the bank.Citibank credit card net, a total of $2001 in 2.46 billion, 31.5% of citigroup all profits.In 2001, the world's 10 biggest issuers in the U.S. the profitability of card issuers are shown in table 2 years 3200 U.S. credit card company revenue expenditure structure shown in table 4.
Saturday, June 6, 2015
16 major national credit card development
Card trade total amount of 3.5 trillion yuan, 1.97 billion transactions.According to a McKinsey study predicts that if fully open credit card business, by 2013, China's credit card market will reach 130-14 billion yuan, profit to become the second largest retail after personal housing loan credit products, the core business of banking and the main source of profits.
For the flourishing development of credit card business prosperity, we should also see hidden crisis, several big credit card market abroad, including the United States, credit card market in the world's largest credit card crisis broke out, seriously interfere with financial stability, have to make our country's credit card development policy and management system, need to look before you leap.
Credit card security:
A about credit risk prevention legislation, the United States
In the 19th and 20th century 200 years, personal credit in the United States
China got rapid development.The United States established a retail credit, installment credit
And credit, and so on, and apply the credit to many other areas of personal consumption
In the.Around 1950, began to appear in the United States credit card, by Banks and financial
The company awarded the personal credit.Use a credit card, the user can be in the broader geographic van
Around the use of personal credit, through the ATM to get cash.Today, in the letter
Card the birthplace of the United States, credit card consumption is still one of the few high growth
One of the industry, has been growing at 13% by 2007.According to the United States,
Industry reports (Business Week) latest, in charge of the credit card market in the United States
Into the has reached 2. 1 million us dollars, credit card number 8. 4.8 billion pieces, credit card issuer has
By as much as more than 8000 [1].Taken to prevent credit risk with credit card in the United States
Measures and legislation mainly has the following several aspects:
(a) has a perfect legal system against credit risk with credit card
The United States is the world consumer credit is one of developed countries, the credit system is more mature.Today, the United States credit bureau has formed a huge industry and across the country and overseas branches.The three major credit bureau E2quifax, Experian, Trans Union formed tripartite confrontation, joint distribution across the United States more than 1000 local credit bureau, collected nearly 200 million American adults credit history.Bank or credit card company in the United States to the customer account agreement, there are some powerful words to remind customers: "if customers don't abide by the credit, data will be recorded, and be saved. These bad credit records will be adverse to the customer."
The establishment and effective operation of the personal credit system to guard against credit risk with credit card played a good role.
The personal credit system on the basis of a sound credit management regulations.Now the United States to guard against credit risk with credit card law mainly include: the fair credit reporting act, the equal credit opportunity act, the act of fair debt-collection homework, etc.The legislation, constitute the national legal environment for normal operation of the credit card management system.
(2) to form perfect personal credit system, to provide detailed personal credit report
In the process of credit card business, how simple and accurately grasp the cardholder's credit standing, and is the key to prevent credit risk with credit card.U.S. consumer credit in hundred years based on the perfect personal credit system, Banks can at any time through the personal credit database query personal credit files, and can quickly determine the cardholders credit and credit.
In the United States, by a credit bureau to consumers themselves or rules of law legal institutions and individuals to provide credit report.Credit report
To include four aspects: the content of the first, personal identification information, in addition to the usual personal information, include society
Insurance risk, information work, positions and employers.Second, public record information, including personal bankruptcy record, record, tax seizure of the court proceedings __ records and property.Third, the individual credit information, including the start date each credit accounts, credit and loan amount, balance, monthly payments, and loan repayment over the past seven years.Fourth, the query record, including the name of the query of and query.
3) the financial institutions have perfect personal credit evaluation mechanism
Credit bureau is the adult's credit data archive and clearing houses.They just to review the credit application in financial institutions, providing information in a timely manner.Data evaluation to the credit bureau itself is not, more not participate in the credit decision.So financial institutions must also have a set of personal credit evaluation mechanism.On the basis of credit reporting, to the borrower's repayment Willingness (Willingness to Pay) and reimbursement Ability, Ability to Pay) in risk assessment, in other words, the evaluation on the "3 C" of the borrowers, Character (Character), Ability (Capacity), and the mortgage (Collateral).The personal credit assessment is the core of credit points of evaluation, the credit score.
Credit points according to the borrower the past credit history may predict the future payments, provide the lender with an objective and consistent evaluation methods, evaluation work done automatically by computer, helps overcome the interference of man-made factors, to prevent one-sided sex, better abide by the laws and regulations of the country.
Letter with points and accelerates the whole credit decision process automation of operation, the applicant can more quickly to get a reply, to improve the efficiency of operations.In consumer credit risk, credit rating has become an important tool.Determine the credit card application, the line of credit or credit conditions, the credit rating is an important influencing factors.The use of credit scores, can accelerate the lenders' decision-making process, so as to make the consumer quickly obtain credit.
For the flourishing development of credit card business prosperity, we should also see hidden crisis, several big credit card market abroad, including the United States, credit card market in the world's largest credit card crisis broke out, seriously interfere with financial stability, have to make our country's credit card development policy and management system, need to look before you leap.
Credit card security:
A about credit risk prevention legislation, the United States
In the 19th and 20th century 200 years, personal credit in the United States
China got rapid development.The United States established a retail credit, installment credit
And credit, and so on, and apply the credit to many other areas of personal consumption
In the.Around 1950, began to appear in the United States credit card, by Banks and financial
The company awarded the personal credit.Use a credit card, the user can be in the broader geographic van
Around the use of personal credit, through the ATM to get cash.Today, in the letter
Card the birthplace of the United States, credit card consumption is still one of the few high growth
One of the industry, has been growing at 13% by 2007.According to the United States,
Industry reports (Business Week) latest, in charge of the credit card market in the United States
Into the has reached 2. 1 million us dollars, credit card number 8. 4.8 billion pieces, credit card issuer has
By as much as more than 8000 [1].Taken to prevent credit risk with credit card in the United States
Measures and legislation mainly has the following several aspects:
(a) has a perfect legal system against credit risk with credit card
The United States is the world consumer credit is one of developed countries, the credit system is more mature.Today, the United States credit bureau has formed a huge industry and across the country and overseas branches.The three major credit bureau E2quifax, Experian, Trans Union formed tripartite confrontation, joint distribution across the United States more than 1000 local credit bureau, collected nearly 200 million American adults credit history.Bank or credit card company in the United States to the customer account agreement, there are some powerful words to remind customers: "if customers don't abide by the credit, data will be recorded, and be saved. These bad credit records will be adverse to the customer."
The establishment and effective operation of the personal credit system to guard against credit risk with credit card played a good role.
The personal credit system on the basis of a sound credit management regulations.Now the United States to guard against credit risk with credit card law mainly include: the fair credit reporting act, the equal credit opportunity act, the act of fair debt-collection homework, etc.The legislation, constitute the national legal environment for normal operation of the credit card management system.
(2) to form perfect personal credit system, to provide detailed personal credit report
In the process of credit card business, how simple and accurately grasp the cardholder's credit standing, and is the key to prevent credit risk with credit card.U.S. consumer credit in hundred years based on the perfect personal credit system, Banks can at any time through the personal credit database query personal credit files, and can quickly determine the cardholders credit and credit.
In the United States, by a credit bureau to consumers themselves or rules of law legal institutions and individuals to provide credit report.Credit report
To include four aspects: the content of the first, personal identification information, in addition to the usual personal information, include society
Insurance risk, information work, positions and employers.Second, public record information, including personal bankruptcy record, record, tax seizure of the court proceedings __ records and property.Third, the individual credit information, including the start date each credit accounts, credit and loan amount, balance, monthly payments, and loan repayment over the past seven years.Fourth, the query record, including the name of the query of and query.
3) the financial institutions have perfect personal credit evaluation mechanism
Credit bureau is the adult's credit data archive and clearing houses.They just to review the credit application in financial institutions, providing information in a timely manner.Data evaluation to the credit bureau itself is not, more not participate in the credit decision.So financial institutions must also have a set of personal credit evaluation mechanism.On the basis of credit reporting, to the borrower's repayment Willingness (Willingness to Pay) and reimbursement Ability, Ability to Pay) in risk assessment, in other words, the evaluation on the "3 C" of the borrowers, Character (Character), Ability (Capacity), and the mortgage (Collateral).The personal credit assessment is the core of credit points of evaluation, the credit score.
Credit points according to the borrower the past credit history may predict the future payments, provide the lender with an objective and consistent evaluation methods, evaluation work done automatically by computer, helps overcome the interference of man-made factors, to prevent one-sided sex, better abide by the laws and regulations of the country.
Letter with points and accelerates the whole credit decision process automation of operation, the applicant can more quickly to get a reply, to improve the efficiency of operations.In consumer credit risk, credit rating has become an important tool.Determine the credit card application, the line of credit or credit conditions, the credit rating is an important influencing factors.The use of credit scores, can accelerate the lenders' decision-making process, so as to make the consumer quickly obtain credit.
Debit card (debit card) and credit card (credit card)
Bank card problem students always focus on topic, because foreign students abroad, more than 80% of the cost is through the bank card transactions, but also with the domestic remittance only through the bank card. Today I will detail the types of bank CARDS, application and usage.
In the United States the most commonly used credit CARDS can be divided into two kinds, a debit card (debit card) and credit card (credit card). I suggest everyone to apply for these two CARDS, because they have different USES.
1. A debit card (debit card)
Called a debit card, is to save money, spend money, it ACTS as a savings account. In the United States, almost every Bank provide debit card application, do not need the applicant to have credit record, also do not need to consult the applicant's work, salary, whether the United States green card holders or citizens of the United States and a series of conditions, so open a card is almost zero risk. Its open card that you provide the condition of 1-10 dollars starting gold. And the big Banks such as Bank of America, Chase, TCF debit CARDS are exempt from the annual fee, in an ATM withdraw money also have no handling fee, is very convenient. And with the domestic remittance is often done through a debit card, because the credit card is not the ability to save.
Debit CARDS are usually have two accounts: checking account (checking account), savings account (saving account).
(1) the checking account (checking account)
Role is the main consumption, so generally no interest, the user can use this account to pay tuition, phone, online shopping, check, etc. In the United States, in the life of the bank on the net use is widespread, such as shopping online, order a meal, books, etc. Bank card and the United States generally opened with the bank on the net, after does not require additional application or install any software. Many big Banks in the user a new checking account, provide some checks and thin, you may check in at home less chance, but in the United States, the check is very convenient, and security is higher, because the cheque will be printed with your name and information, many Banks will also check the signature, so seldom take a check is true. And you send a cheque to the other side, there will be charge on the check the name of the man, so also does not exist or. Check can almost as cash to use in the United States, for example, if you don't need to out shopping with a lot of money, just take a check, on the personal safety is guaranteed.
(2) savings account saving account)
This is the main savings account, there is interest, but not commonly used in the consumption. You go to the bank of the bank on the net, basic can through simple operation on the net transfer in the checking account and savings account. I suggest it is, my money will be a savings account and transfer as much as they use in checking account, so you can have some interest income, and transfer of program is very simple, in the bank on the net 30 seconds flat.
2. The credit card
, consumer credit card no matter from the application to the repayment, etc., than the debit card is relatively trouble, but the biggest advantage is that can in advance. Most people's consumption in the U.S. are produced in the credit card, can be the concept of "consumer first, and then also money" firmly advocates. Credit card request is troublesome, and the success rate is not high, it is just one of consumer payment method, most of the credit card is required to pay an annual fee. So the students are really necessary to apply for a credit card?My answer is sure: yes.
The convenience of credit CARDS to students far more than the "consumption" in advance, especially for on going to stay in the United States or Canada for a long time, credit card credit history is an important foundation for later life. Credit records in the United States has a very strict, very perfect recording system, is also one of honesty and financial ability to reflect. If ready to settle down in abroad, it is necessarily involved in a car to buy a house, believe that for most students, the loan to buy a house or a car more realistic, in the domestic loans are mostly take assets as collateral, but for students, almost no assets, the loan is important reference index of credit records. The accumulation of credit history is long, is different from the bank's integral, not to say that suddenly you spent $50000 today, credit record will increase greatly. So I suggest that the students must apply for a credit card early, so a few years after building your credit record may be enough to get the loan requirements.
In the United States the most commonly used credit CARDS can be divided into two kinds, a debit card (debit card) and credit card (credit card). I suggest everyone to apply for these two CARDS, because they have different USES.
1. A debit card (debit card)
Called a debit card, is to save money, spend money, it ACTS as a savings account. In the United States, almost every Bank provide debit card application, do not need the applicant to have credit record, also do not need to consult the applicant's work, salary, whether the United States green card holders or citizens of the United States and a series of conditions, so open a card is almost zero risk. Its open card that you provide the condition of 1-10 dollars starting gold. And the big Banks such as Bank of America, Chase, TCF debit CARDS are exempt from the annual fee, in an ATM withdraw money also have no handling fee, is very convenient. And with the domestic remittance is often done through a debit card, because the credit card is not the ability to save.
Debit CARDS are usually have two accounts: checking account (checking account), savings account (saving account).
(1) the checking account (checking account)
Role is the main consumption, so generally no interest, the user can use this account to pay tuition, phone, online shopping, check, etc. In the United States, in the life of the bank on the net use is widespread, such as shopping online, order a meal, books, etc. Bank card and the United States generally opened with the bank on the net, after does not require additional application or install any software. Many big Banks in the user a new checking account, provide some checks and thin, you may check in at home less chance, but in the United States, the check is very convenient, and security is higher, because the cheque will be printed with your name and information, many Banks will also check the signature, so seldom take a check is true. And you send a cheque to the other side, there will be charge on the check the name of the man, so also does not exist or. Check can almost as cash to use in the United States, for example, if you don't need to out shopping with a lot of money, just take a check, on the personal safety is guaranteed.
(2) savings account saving account)
This is the main savings account, there is interest, but not commonly used in the consumption. You go to the bank of the bank on the net, basic can through simple operation on the net transfer in the checking account and savings account. I suggest it is, my money will be a savings account and transfer as much as they use in checking account, so you can have some interest income, and transfer of program is very simple, in the bank on the net 30 seconds flat.
2. The credit card
, consumer credit card no matter from the application to the repayment, etc., than the debit card is relatively trouble, but the biggest advantage is that can in advance. Most people's consumption in the U.S. are produced in the credit card, can be the concept of "consumer first, and then also money" firmly advocates. Credit card request is troublesome, and the success rate is not high, it is just one of consumer payment method, most of the credit card is required to pay an annual fee. So the students are really necessary to apply for a credit card?My answer is sure: yes.
The convenience of credit CARDS to students far more than the "consumption" in advance, especially for on going to stay in the United States or Canada for a long time, credit card credit history is an important foundation for later life. Credit records in the United States has a very strict, very perfect recording system, is also one of honesty and financial ability to reflect. If ready to settle down in abroad, it is necessarily involved in a car to buy a house, believe that for most students, the loan to buy a house or a car more realistic, in the domestic loans are mostly take assets as collateral, but for students, almost no assets, the loan is important reference index of credit records. The accumulation of credit history is long, is different from the bank's integral, not to say that suddenly you spent $50000 today, credit record will increase greatly. So I suggest that the students must apply for a credit card early, so a few years after building your credit record may be enough to get the loan requirements.
discover
Now the Card (Discover Card) is a widely used in the United States credit Card.From 1985 to 2007, by the oligarchs, Morgan Stanley and other financial institutions holding retailer Sears promotion issued by the company.In 2007, Discover Financial Services as an independent Financial firms and replaced Discover signs of the card.
History editing
In discover just think marketing s, Sears is America's biggest retailer.Once in the 1981 acquisition of financial institutions to try to add some fresh in its retail service services of commercial Banks.Originally found Sears on the card are the company's logo, such as the headquarters is located in Chicago Sears Tower "Sears Tower", 2009 years later renamed Willis Tower.
Company headquarters in old Discover logo
MasterCard and VISA Card is different from the traditional rivals, Discover Discover quickly get a huge customer base.Discover is generally no annual fee, high credit and provide high cash rebates.(the first 2%, now as much as 2%).
However, plans to build a 'one-stop' financial services centre of Sears department store is not successful, as Sears expected it found card promotion is considered only hurt Sears the turnover of the company, and limit the potential of the card.Refuse to promote in other retailers Discover Discover, because they believe that they would help their competitors.
In view of these developments, and its powerful competitors wal-mart and the so-called category killers, such as toys "R" Us company), in the late 80 s Sears began to face financial difficulties.Final 8 Sears sold its financial business in 1993, Sears also began to accept in addition to Discover card mastercard and visa.Business became the Dean Witter discover financial services company (Dean Witter financial services firm) part of the Dean Witter financial services firm financial companies in 1997 by Morgan Stanley mergers and acquisitions.In 2000, changed its name to explore greenwood trust Bank (Discover Bank).
History editing
In discover just think marketing s, Sears is America's biggest retailer.Once in the 1981 acquisition of financial institutions to try to add some fresh in its retail service services of commercial Banks.Originally found Sears on the card are the company's logo, such as the headquarters is located in Chicago Sears Tower "Sears Tower", 2009 years later renamed Willis Tower.
Company headquarters in old Discover logo
MasterCard and VISA Card is different from the traditional rivals, Discover Discover quickly get a huge customer base.Discover is generally no annual fee, high credit and provide high cash rebates.(the first 2%, now as much as 2%).
However, plans to build a 'one-stop' financial services centre of Sears department store is not successful, as Sears expected it found card promotion is considered only hurt Sears the turnover of the company, and limit the potential of the card.Refuse to promote in other retailers Discover Discover, because they believe that they would help their competitors.
In view of these developments, and its powerful competitors wal-mart and the so-called category killers, such as toys "R" Us company), in the late 80 s Sears began to face financial difficulties.Final 8 Sears sold its financial business in 1993, Sears also began to accept in addition to Discover card mastercard and visa.Business became the Dean Witter discover financial services company (Dean Witter financial services firm) part of the Dean Witter financial services firm financial companies in 1997 by Morgan Stanley mergers and acquisitions.In 2000, changed its name to explore greenwood trust Bank (Discover Bank).
Business development editor
In October 2004, the Supreme Court of the United States established a favorable ruling a discover card, visa and mastercard repellency policy challenges.Before the ruling, VISA and mastercard will not allow Banks to issue Discover card, if they are issued by VISA or mastercard.Just days after the court's decision, discover to the federal court, demanding compensation business loss caused by the visa and mastercard.In 2005, discover the Pulse (interbank network) (an electronic funds transfer association), allowed it to issue debit CARDS and ATM CARDS and market.
Shortly after 2004 the U.S. Supreme Court ruled that found card is issued by other Banks, GE consumer finance group for retailer, wal-mart, Sam's club Discover CARDS, etc.Sam's club for years, only accept Discover credit CARDS, although since November 2006, it also accept mastercard to purchase.
19 years of 1986-2004, Discover Card volume increased from $1.7 billion to $99.6 billion, and 400 in the United States has more than 50 million cardholders merchants, and nearly 200000 ATM, Discover Card has become after the VISA, MasterCard, AE's fourth largest liquidation organization and and after citigroup, jpmorgan chase bank, portfolio, bank of America, CapitalOne after the sixth largest credit Card companies.
In October 2004, the Supreme Court of the United States established a favorable ruling a discover card, visa and mastercard repellency policy challenges.Before the ruling, VISA and mastercard will not allow Banks to issue Discover card, if they are issued by VISA or mastercard.Just days after the court's decision, discover to the federal court, demanding compensation business loss caused by the visa and mastercard.In 2005, discover the Pulse (interbank network) (an electronic funds transfer association), allowed it to issue debit CARDS and ATM CARDS and market.
Shortly after 2004 the U.S. Supreme Court ruled that found card is issued by other Banks, GE consumer finance group for retailer, wal-mart, Sam's club Discover CARDS, etc.Sam's club for years, only accept Discover credit CARDS, although since November 2006, it also accept mastercard to purchase.
19 years of 1986-2004, Discover Card volume increased from $1.7 billion to $99.6 billion, and 400 in the United States has more than 50 million cardholders merchants, and nearly 200000 ATM, Discover Card has become after the VISA, MasterCard, AE's fourth largest liquidation organization and and after citigroup, jpmorgan chase bank, portfolio, bank of America, CapitalOne after the sixth largest credit Card companies.
Subscribe to:
Posts (Atom)