The truth is that there is not much credit card risk, but there is a big risk of identity theft.
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And America's downstream firms are arguably the world's leaders in finding ways to encourage consumers to try new things, not least through their enormous marketing arms and by ensuring that there is a lavish supply of credit.
The only problem is that current law precludes the extension of Commodity Credit Corporation agricultural export credits unless there is a reasonable prospect of repayment.
"There is a lack of a consumer credit culture and a lack of a consumer credit market, " says Chi.
Money transfers outside Cyprus are prohibited, with a few very specific exceptions, and there is a limit of 5, 000 euros a month in credit or debit card purchases while abroad.
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When success happens, the best leaders take less than their share of the credit and when there is a failure they take more than their share of the blame.
There is a stark difference in the credit profiles of the best and worst states for credit conditions, and that should be food for thought for anyone considering a move or business venture.
But the labourer is often so desperate for a loan, without other sources of credit, that there is little real choice involved.
"There is going to be a lot of demand for what is viewed as a very stable credit, " said Mike Hodel, analyst at independent researcher Morningstar.
"The government is aware of concerns of the high cost credit market and suggestions there should be a cap on the high cost credit products, " she said.
Although it prevented an acute credit crunch and a devastating sequence of banking collapses, instead there is an extended period of minimal growth in credit provision - which makes it very hard for the eurozone to climb out of recession.
There is only one tiny catch: evidence of a credit crunch is notable mainly for its absence.
Then there is a debate on a European Union Committee report on Sovereign Credit Ratings - peers will ponder the findings of their the their Economic and Financial Affairs and International Trade EU Sub-Committee recently published report on those mysterious but all-powerful bodies, the credit ratings agencies.
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There is still a sizable amount of the population with no credit cards.
As analysts at Credit Suisse also note, there is a scarcity of pure play antibody companies, and Regeneron is now the largest biotech player focused almost exclusivity in this field.
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It is up the individual states to legislate and critics claim that - as a result - there is a lack of national cohesion in efforts to fight credit card fraud.
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"We're beginning to work through it and there is a lot of focus on how to open the credit markets up again, " he said, adding that none of this will be easy.
Ron Tanemura, the firm's head of credit derivatives, says that there is a grey area, but that Goldman will fall into line with market consensus, once there is one.
The reverse movement is a new report by Moody's - which basically says that it misunderstood the inherent structural flaws in the eurozone, and there is a meaningful risk that it will have to downgrade the credit ratings of all eurozone members (even Germany) and possibly some EU members outside the eurozone.
Ms. KATHY CHU (Business Reporter, USA Today): Almost a trillion dollars of credit card debt is out there right now.
But such arguments ignore the fact that there is a spectrum of existing solutions which can be used collectively to quantify credit quality as well or better than traditional ratings.
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From there, in fact, maybe even a greater piece of information is the credit report, because the credit report, obviously, not only gives a Social Security number and personal information about the individual, but it also goes on to indicate where the person has their holdings, whether they have home equity loans, and effectively, they can obtain driver's licenses from that and then they can get open bank accounts.
Professor PETE KYLE (Finance, University of Maryland): There is a tremendous demand for consumer credit.
Still, there is good news for people whose credit scores are about as appealing as a lump of coal in a stocking on Christmas morning.
Then, there is the 51-cent tax credit paid to blenders of the fuel and a 54-cent tariff on imported ethanol to keep cheaper foreign producers out of the market.
This is partly the fault of a primitive banking system: there are no cheques, few credit cards, and paying by bank-transfer means an hour or so in a smelly queue.
Ask the members of your university faculty if there is a course you can enroll in for credit.
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The loss of America's AAA credit rating shouts loudly that there is risk in lending to America - which at a time of great stress in financial markets could be very destabilising.
At the very least, there is a growing chance that a record rally in corporate debt that began at the height of the credit crisis in 2008 may be entering a new, uncertain phase.
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