CFC a privately held consumer finance company that was established in 2005 and issues general purpose credit
cards with the MasterCard brand.
Visa Inc., MasterCard Incorporated, and American Express Company) and general purpose credit
card issuers (JPMorgan Chase & Co., Bank of America Corporation, and Citigroup Inc.).
The revolving credit facility follows the closing of its previous USD 90 million and USD 100 million revolving credit facilities associated with Fortiva general purpose credit
card receivables and a USD 167.3 million asset backed securitization supporting Fortiva branded point-of-sale credit card receivables.
For example, special purpose credit
card banks can't accept deposits under $100,000 and special purpose trust banks don't have access to the Federal Reserve discount window.
* Develop special purpose credit
programs, as detailed under ECOA, for the benefit of specific groups of consumers in meeting their identified credit needs.
top-six player in the US general purpose credit
card market; ongoing
In the fourth scenario, and perhaps the most common, a consumer purchases goods from a merchant using a general purpose credit
card or other open-ended credit plan where the merchant has no referral relationship with the credit card issuer.
CONSUMERS HAVE BECOME EXTREMELY CREDIT CONSCIOUS, steering away from the use of general purpose credit
cards, according to a new report from Mercator Advisory Group, Boston.
"Based on current spending data, it's clear that US consumers have become extremely credit conscious, steering away from the use of general purpose credit
The second bit of news is more ambiguous: The credit reporting agency TransUnion said the number of people using general purpose credit
cards fell by more than 11 percent in the third quarter (July to September) compared with the same period a year ago.
Analysis by credit reporting agency TransUnion found that use of general purpose credit
cards bearing MasterCard or Visa logos, or issued by Discover or American Express, fell more than 11 per cent in the third quarter, compared with the July to September period last year.
Number of general purpose credit
cards in circulation in the U.S.