During a credit expansion asset values become inflated, and credit-fueled spending tends to drive up corporate profitability.
At present, tax inspectors can check reported income and spending against bank accounts or credit-card statements.
Still, experts think non-credit-card payment services will be a growth business over the next few years.
But even authors of the credit-card law say the Fed's provision is too strict.
But what led to this massive expansion of easy credit to the less than credit- worthy?
ECONOMIST: The reasons for the crisis and how to stop it happening again
Visa and MasterCard rules have long prohibited merchants from charging customers more for credit-card transactions.
WSJ: Visa, Mastercard Agree to $6 Billion Settlement Over Surcharges
Hong Kong now has the highest default rate on outstanding credit-card debt in the world.
Over the same period, the number of credit-card transactions fell to 21.6 billion from 21.7 billion.
Click for a slide show of some of the most exclusive credit-card rewards programs.
The phenomenon was a large factor in 44 credit-quality downgrades by Moody's last year.
As a new arrival, you might have difficulty opening a bank or credit-card account.
The growth of credit-union lending comes at time when other financial institutions have retrenched.
Credit-card holders post a specific hashtag on Twitter to trigger payments from their accounts.
The recession left a vast legacy of foreclosures, personal and business bankruptcies, debt-collection and credit-card disputes.
As with conventional credit-card transactions, the card companies would cover the cost of unauthorized purchases.
The ratings companies have also rewarded the government's efforts with a string of credit-rating upgrades.
WSJ: WORLD STOCK MARKETS: Philippines Market Might Be Boiling Over
Ratings downgrades make it harder for banks to sell credit-default swaps tied to bonds or loans.
Under the seven-year deal, Capital One will inherit Kohl's 20 million credit-card accounts from J.
Some prominent credit-card issuers, eager to keep customers happy, are beginning to pull back on fees.
An example might be a fine levied on a bank for overcharging credit-card customers.
This is their best estimate, from past experience, of credit-card debts that will not be repaid.
Meanwhile, oil revenues reinvested into local economies should help keep out Western credit-crisis woes.
It also builds on earlier proposals to rein in over-the-counter derivatives, such as credit-default swaps.
Financial institutions such as credit-card issuers already have some limitations for minors in place.
The heftier equity base has also helped it acquire Chase Manhattan's credit-card business in Singapore.
The key is to have a credit-card battle plan in place long before arriving on campus.
The error has caused a "hiccup" in the production of the eagerly-anticipated credit-card sized computer.
One reason for this is that low-fare airlines tend to have smaller credit-card tie-ins.
WSJ: For Frequent Fliers, a Ranking of the Stingiest Airlines
More recent ideas include managing distressed power stations and buying delinquent credit-card debts from banks.
That way, consumers don't have to go through the process of punching in their credit-card information.
应用推荐