Chapter 20 - Mike Solomich 1 The four reasons why consumers use credit cards proprietary store cards generalpurpose cards travel and entertainment

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Mike Solomich 1. The four reasons why consumers use credit cards proprietary store cards, general- purpose cards, travel and entertainment cards, and debit cards. All of these cards have benefits for the customers that give them rebates back. 2. A proprietary store cards are retailer owned and operated credit card program designed to facilitate sales in its own retail outlets. Its different from the general-purpose credit cards is different because they aren’t owned by the retail store. 3. The minimum payment has finance charges that vary from state to state. In a T&E card, the costumer gets a percentage of how much the card is used, that goes towards frequent flyer miles and other entertainment things. 4. For customers the advantages are the educational institutions accept them for tuition payment and governmental agencies for tax payments. And with the cash-advance feature, customers can obtain cash loans quickly and conveniently. The advantages for
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This note was uploaded on 11/15/2009 for the course ENG 401 taught by Professor Mess during the Spring '09 term at Northwood University, Michigan Campus.

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Chapter 20 - Mike Solomich 1 The four reasons why consumers use credit cards proprietary store cards generalpurpose cards travel and entertainment

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