The Unique Finance Blog

Do you know about credit cards and their dirty little secrets? I make my living knowing about them and I was unable to answer all the questions at a great quiz from the PBS Frontline program Secret History of The Credit Card at Credit Card Quiz. Take the quiz and see how much you do or don’t know about universal default, and other credit card issues. Then read this article for more dirty little secrets this great PBS special offered. Here are a few apetizers:

Consumers are fond of various things: rewards, money savings, time savings, flexibility, financing, etc. All of these things and more are provided by the use of credit cards and debit cards instead of cash. But merchants also benefit from these forms of payment. They don’t have to wait for the money as if they where to offer financing by accepting checks and they can get the money right away by offering financing for those who would have to postpone the purchase till they raised the money to pay in cash.