Extra Credit

 

As 1.7 million freshmen enter college campuses this fall, many of them with brand new credit cards, it might prove useful to brush up on this industry. Credit-card companies offer rewards for airline miles, cash back, and now a new card that gives 1% cash back to reduce greenhouse gases, combined with recent revelations of dodgy business practices it is understandable to ask, “How did we get here?”

Paying with Plastic explores more than the history of credit cards, it examines the industry’s evolving structure, lending practices, and how e-commerce could dramatically impact the future of credit cards. The authors, both of whom have researched the industry for more than 25 years, have created the definitive source on the credit card industry.