Credit Cards facts

While investigating facts about Credit Cards For Bad Credit and Credit Cards For Fair Credit, I found out little known, but curios details like:

Dmitry Argarkov who scanned a credit card agreement, edited it, and returned it with a 0% interest rate and no limit in the new terms. The bank signed and approved without reading and a judge held them to it.

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Kevin Smith actually worked at the convenience store in Clerks. He worked all day, and they filmed all night (thus the closed shutters) for 21 straight days. He slept one hour a day during filming. The whole production cost $27k, funded by maxing out credit cards and selling his comic books

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In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across answering what credit cards are synchrony bank. Here are 50 of the best facts about Credit Cards With 0 Apr and Credit Cards With 0 Interest I managed to collect.

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Mythbusters were going to do an episode which highlighted the immense security flaws in most credit cards, but Discovery was threatened by, and eventually gave into immense legal pressure from the major credit card companies.
It's illegal in Florida to charge more to pay by credit card, but legal to offer a discount to pay by cash.
There's a type of neutron star called a magnetar which has a magnetic field that's so powerful that being within 1,000 miles of one would warp all the atoms in your body and from a distance of 100,000 miles away it would be able to wipe out the data of every credit card on the planet.
Stephen Fry was expelled from two schools and was imprisoned for three months for credit-card fraud. After studying for the entrance test, however, Fry was admitted to Cambridge University, where he met Emma Thompson and his future collaborator Hugh Laurie.
In 1978 the supreme Court changed the credit card industry by erasing state laws that limit interest rates.
A Chinese art collector paid for a $170m painting with his American Express credit card. He said he'll use the points to allow his family to travel for life.
To pay for his film Clerks, Kevin Smith sold most of his comic book collection, maxed out several credit cards, used some of the funds for his college education, spent insurance money awarded for a car he lost in a flood, and worked in the convenience store used in the film.
In 2008 Dmitry Agarkov changed a credit card agreement to his benefit - and the bank signed it. When in 2010 the bank wanted him to pay late fees, he sued it, as according to the changed deal, it owed him money - 24m rubles (ca. $727k). It all ended with an out-of-court settlement.
In 1958, as an experiment, Bank of America mailed 60,000 residents of Fresno, California a small plastic card with a $500 credit line. BoA figured if it failed, there'd be no media coverage because it was in Fresno. The experiment was hugely successful and the program became Visa.
Student loans have passed credit cards and auto loans to become the second biggest source of personal debt in the U.S., trailing only mortgages.

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Credit Cards data charts

For your convenience take a look at Credit Cards figures with stats and charts presented as graphic.

credit cards fact data chart about I tracked my credit card debt over the last 8 years — I tracked my credit card debt over the last 8 years

credit cards fact data chart about The most beautiful data I could imagine! Pie chart of my Cre — The most beautiful data I could imagine! Pie chart of my Credit Card Debt (took me 18 years!) on this Pi Day!

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A man named Simon Bunce was arrested for buying child porn online, and lost his job and family over it, only to be revealed that someone in Indonesia hacked his credit card.

The concept of using a card for purchases was described in 1887 by Edward Bellamy in his utopian novel Looking Backward. Bellamy used the term credit card eleven times in this novel, although this referred to a card for spending a citizen's dividend from the government, rather than borrowing. - source

United States student loan debt exceeds US credit card debt and auto debt - source

Prior to 1999, the mythical American Express Black Card was just that: a myth. The myth became so pervasive that AmEx decided to capitalize on it and actually make a black, ultra exclusive credit card.

Someone changed fine print in their credit card agreement before mailing back, bank stamped it, mailed him a certified copy along with a credit card, and later a lawsuit was filed over those modified terms - source

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A former policeman who rewrote the fine print on his credit card contract to include unlimited credit and no interest, and got the bank to sign on it. The bank claimed they didn't read the contract but the court held that the amended contract to be legally binding and he won the case.

How credit cards are stolen?

Leonard Cohen's manager took $5 million from him and sold the rights to his music over time to pay her credit cards among other things leaving him with $150,000. He never retrieved the money and basically said he hoped she would learn from it and be a better person.

Buying with a credit card causes fewer pain signals in the brain than using cash.

A guy amended a credit card contract to include 0% interest and an unlimited credit line and large fees to be paid to him if the bank didn't uphold it. The bank agreed to the terms, then later tried to cancel his account. A judge upheld the amended contract.

Up until 1974, banks could refuse to issue a credit card to a woman unless she was married and her husband co-signed for the card. A divorced woman was considered too much of a risk because she "couldn't keep a marriage under control."

Credit cards infographics

Beautiful visual representation of Credit Cards numbers and stats to get perspecive of the whole story.

credit cards fact infographic about Distribution of my 2017 credit card spending — Distribution of my 2017 credit card spending

credit cards fact infographic about Lifetime Debit Card Credits and Debits under $50 — Lifetime Debit Card Credits and Debits under $50

When did credit cards start?

Most of the developed world uses Chip and PIN credit cards, except for the U.S. which uses Swipe and Sign which is far less secure

The chip on SIM cards and credit cards is a fully functioning computer, the device it is placed in simply provides power to it

Credit card "chip" technology (aka EMV) that is being rolled out now in the US is almost 25 years old

A Man Wrote his Own Credit Card Contract Then Sued the Bank for Breaking the Contract's Terms

Secret Service paid cybercriminal Albert Gonzalez $75,000/year as salary to act as an informant, while he simultaneously ran his own multi-millon dollar credit card fraud empire.

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42-year-old Dmitry Agarkov, a Russian man, took a piece of spam mail for a pre-approved credit card, re-wrote the terms, sent it in, got it approved, and when the bank tried to renege on the deal, successfully sued for 700,000 USD.

The Credit Card industry refers to people who pay their credit card bills off every month as "deadbeats"

The mastermind behind a multimillion $ credit card cloning ring who required that all accomplices engage in sadomasochistic group sex with him on video to ensure they weren't undercover cops. He evaded detection for years and had 12 terabytes of porn storage when apprehended.

A Russian man changed the fine print on his credit card application to 0% APR and no fees, and got his bank to sign it.

The CEO of a credit card company took a pay cut in order to raise the wages of his staff to $70,000 per year, even for the lowest-paid clerk; the average salary of the 120 person staff had been $48K per year.

Nearly all the bread clips - those flat, U-shaped pieces of plastic - are produced by one family-owned company in Yakima, Washington. The first one was carved from a credit card, the company exports billions a year, and the Kwik Lok Corporation has an almost complete monopoly.

Nearly one-quarter of Americans (24 percent) owe more money on their credit cards than they have in emergency savings.

North Korean spies stationed abroad have to receive training on how to shop in supermarkets, use credit cards and visit clubs, as these amenities are not commonplace in North Korea.

For years, James Randi (nee Zwinge) wrote everyday "I, Randall Zwinge, will die today" along with the date and his signature on a card he carried in his wallet. He hoped in the event of his untimely death, he would be credited with having predicted it.

Until 1974, a married American woman couldn't have a credit card in her own name, without her husband's permission.

In 1958, Bank of America mass mailed 60,000 unsolicited credit cards, with a credit line of $500, to residents of Fresno, California. They chose Fresno so that if the plan failed, it wouldn’t get much media coverage. The program was wildly successful and marked the birth of Visa.

In Quebec, both spouses keep their birth names after marriage and continue to exercise their civil rights under that name, meaning they must use their birth name in contracts, on credit cards, on their driver’s licence, and so on. This rule applies even if they were married outside Quebec.

A crew member on the Disney Wonder disappeared in the middle of the cruise and has never been seen again despite credit card activity after her disappearance

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