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Paying with Plastic, 2nd Edition: The Digital Revolution in Buying and Borrowing

For better or worse, most of us have at least one of the 720 million little plastic cards that are used each year to complete $860 billion worth of purchases at 15 million incredibly varied merchant locations throughout the world. This is a far cry from the humble beginnings of these myriad credit, debit, and charge cards, which just a few decades ago were generally a perk offered only to elite customers for the acquisition of fine meals, hotel rooms, department-store goods, and oil-company products. They are now so common and such an integral part of our economy, in fact, that few pay them much mind–a situation that makes David Evans and Richard Schmalensee’s Paying with Plastic all the more interesting. Evans, senior vice president of National Economics Research Associates, and Schmalensee, dean of MIT’s Sloan School of Management, meticulously trace the history of these cards from both the consumer and merchant perspectives in this surprisingly appealing volume, which will prove enlightening to anyone who ever wondered how plastic money works. –Howard Rothman  –This text refers to an out of print or unavailable edition of this title.

“Paying with Plastic examines a quiet revolution in the U.S. economy—the steady transition from checks and cash to credit, debit, and charge cards. The authors describe the causes and consequences of this transition in terms of economics and law—all in plain English that the nonspecialist can understand. This book has become an immensely valuable source on an important subject.”
—Robert Pitofsky, Joseph and Madeline Sheehy Professor in Antitrust and Trade Regulation Law, and Dean Emeritus, Georgetown Law School, and former Chairman, Federal Trade Commission

“Paying with Plastic is a practical discussion about a complex industry that drives almost $3 trillion in worldwide purchases every year. Evans and Schmalensee illuminate the inner workings of an industry that many know by virtue of the cards we carry in our wallets, but few really understand. It is required reading for anyone who works in, works with, or studies payment cards.”
—Timothy Muris, Foundation Professor of Law, George Mason University, and former Chairman, Federal Trade Commission

“An excellent treatment of the payment card industry’s evolving structure and conduct.”
— Daniel Pope, Enterprise & Society

“Authors Evans and Schmalensee have written the definitive book on the business of bank cards. The reader will come away an expert, with a clear understanding of the business drivers, the players, and the complex issues behind the business of bank cards. This should be required reading for anyone engaged in the bank card industry, from executives at the associations to systems integrators and vendors that service this market.”
—John C. Gould, Director of Consumer Lending and Bank Cards Practice, TowerGroup

“Evans and Schmalensee offer a comprehensive, highly readable account of the evolution of the payment card industry, from the birth of the Diners Club card a half-century ago in Manhattan to the contemporary legal battles between American Express and the bank card associations. Along the way, they analyze the economic impact of the industry in areas ranging from the diffusion of consumer credit to the evolution of multisided market platforms.”
—Robert Hahn, Executive Director, AEI-Brookings Joint Center

“This very readable book will appeal not only to policymakers and business executives, but also to the theoretically inclined economist. Evans and Schmalensee provide a rigorous analysis and deep insights about the credit card industry’s fascinating institutional features. Paying with Plastic considerably advances the state of our knowledge and is a remarkable achievement.”
—Jean Tirole, Institut d’Economie Industrielle, Toulouse

“Well-written and clearly presented.”
— Tudor Marshall, The Business Economist

BestCredit: How to Win the Credit Game, 2nd Edition

Written by a former debt collector, this credit repair book covers many aspects of credit restoration, including how to legally remove any adverse credit from a consumer credit report, how to negotiate debt, how to prevent and recover from identity theft, the secrets to raising a credit score, and more. Remove judgments, liens, late payments, bankruptcies, collection accounts, inquiries, charge-offs, repossessions, and foreclosures. Learn how to negotiate like a pro, reducing credit card and other unsecured debt to a fraction of what you owe!

Dana Neal knows first hand the consequences of bad credit – how a financial setback can leave you unable to buy a house or car, rent an apartment, get insurance or even land a job. But the former collection agency insider also knows that flawless credit is in everyone’s reach. In easy-to-understand terms, the author explains how the credit game is played, the roles of the various players, and the ways in which the credit industry stacks the odds against consumers He then presents a straightforward, no-nonsense plan to show you how to win the credit game by getting others to play by your rules!

Credit Card Nation: The Consequences of America’s Addiction to Credit

No interest for one year! No annual fee! No minimum payments for six months! And, if you want to believe Robert Manning, there’s no way out of the debt that we find ourselves in, as individuals and as a country. Credit Card Nation combines debt of every kind–consumer, corporate, and governmental–and creates a vast landscape of profit-spewing lenders and struggling debtors present at every level of economics. Appalling statistics set readers off on a depressing journey: the years between 1980 and 1994 saw annual consumer charges skyrocket from $170 billion to $581 billion, with the average household carrying over $4,000 in revolving debt. Accompanied by the erasure of nearly $100 billion in corporate debt and tremendous tax cuts for ever-merging conglomerates, the end of the 20th century seems to be just the beginning of an overwhelming cycle. While Manning’s book is extensively researched, it is also extremely readable. Individual stories of junk bondsmen, corporate raiders, and middle-class consumers are threaded throughout the pages of charts and statistics, with a few surprises. While most media would have us believe that students who rack up charge accounts are totally irresponsible, the reality is that some of these students are helping their families with cash-advance loans to make mortgage or insurance payments. Emphasis is also placed on the tremendous advertising budgets of credit card companies: Manning comments on “how quickly the cultural norms have changed in the Credit Card Nation,” we see a poster insisting “money can’t buy you love, but a credit card can get you started.” This is not a self-help book, and Manning has no 12-step program for debtors at any level. Credit Card Nation simply tells it as it is. –Jill Lightner –This text refers to the Hardcover  edition.

The Skinny on Credit Cards, How to Master the Credit Card Game

I love this book, what a terrific job. This book can literally save you a fortune! —-Gerri Detweiler, Ultimate Credit Solutions Inc

The Skinny on Credit Cards discusses a complex financial matter…in a way that even someone with no credit history can easily understand. This is no small achievement. —-Curtis Arnold, Founder, U.S. Citizens for Fair Credit Card Terms, Inc., Author

Written in an easy to understand style, and with a good dose of humor, The Skinny on Credit Cards gives the reader everything he/she needs to know to use credit cards more responsibly. A must read for teens and adults alike. —-James Roberts, Professor, Baylor University

The Skinny on Credit Cards, How to Master the Credit Card Game. Finally, someone has written a book which is clear, concise and comprehensive on the subject of credit cards. The Skinny on Credit Cards will be helpful to everyone from the young adult getting his or her first card to the older adult who has used cards for years and never really totally understood the rules of the game. The Skinny on Credit Cards is a compilation of all the books and articles that have been written on the subject. All the experts were consulted. The Skinny On™ presents all the relevant information in an entertaining and easy-to-digest fashion. The credit card world is willing to lend you money. They want money back in return in the form of fees and interest. In some ways, the use of a credit card is a big game. Your job as a consumer is to play the game well so that you get more out of the relationship than do the credit card issuers. The Skinny on Credit Cards will teach you how to win the game!!

How You Can Profit from Credit Cards: Using Credit to Improve Your Financial Life and Bottom Line

“This book is a must-read for credit card holders of all ages. Curtis Arnold offers insights into how consumers can not only profit financially from credit cards, but importantly, how to avoid falling into debt.”

—Thomas R. Evans, President and CEO of BankRate.com, Inc.

“Finally, someone has written a guide for savvy consumers who want to make the most of the plastic in their wallets. Curtis Arnold explains exactly how to maximize your rewards so you’re quite literally getting free money and also outlines winning strategies for negotiating the lowest interest rate and using balance transfers to your advantage. Anyone who wants to build credit, improve their credit, or profit from their credit cards should read this book.”

—Liz Pulliam Weston, MSN Money Personal Finance Columnist and Bestselling Author of Your Credit Score and Easy Money

“Curtis Arnold is America’s premier credit card expert. Whether you’re trying to get your first card, compare credit offers, or figure out how to beat the credit card companies at their own game, Arnold’s wisdom and insider tips will prove invaluable.”

—Lynnette Khalfani-Cox, The “Money Coach” and Author of The New York Times Bestseller Zero Debt: The Ultimate Guide to Financial Freedom

“If you have had enough of credit card tricks and traps, this book will show you how to turn the tables. Curtis Arnold knows the credit card business inside and out and offers proven ways to put plastic to work for you, rather than against you.”

—Gerri Detweiler, Consumer Advocate and Author of four books on personal finance including the forthcoming book Stop Debt Collectors

“For most Americans, credit cards are seen as a necessary evil. Curtis Arnold transforms that perception. Using his advice, people can get rebates, perks, better interest rates, and all kinds of benefits from their cards that they never knew were possible. This book helps you become the master of your credit cards instead of a victim.”

—Jordan E. Goodman, “America’s Money Answers Man” and Bestselling Author of Everyone’s Money Book on Credit

“Curtis Arnold provides you with tips for protecting yourself from costly credit card traps, how to use credit to your advantage, and much more. This is a must-read book!”

—Marcia Brixey, Author of The Money Therapist and Founder and President of Money Wise Women Educational Services

Banks spend billions to entice credit card customers with rebates, freebies, low introductory rate offers, and airline miles. This book shows you how to take maximum advantage of these special deals—without paying for them through brutally high interest rates, fees, and penalties!

Top independent credit card expert Curtis Arnold reveals how to creatively finance major purchases such as cars, weddings, and condos with little or no interest charges…earn huge credit card “perks” every year…and dramatically reduce your cost of credit. He offers specific advice targeted to: young consumers, retirees facing credit discrimination, Americans recovering from debt problems, and even to consumers with spotless credit.

Why should huge banks and credit card companies make all the money? Get this book, and you too can start earning and saving hundreds, and possibly thousands of dollars, like Curtis has!

Unlock the keys to huge credit card savings
Find the best rates and balance transfer offers—and make the most of them
Fly anywhere, finance anything
Use credit cards to get free airline tickets and cash rebates or low-cost “creative financing”
Don’t get ripped off—by your bank or anyone else
Avoid hidden fees, costly small print, and flat-out fraud
Slash your debt, and cut your cost of credit
Stop throwing away money you could be saving or investing