Unit One TextA ll Related Information.(1)Credit card It's a card that identifies its owner as one who is entitled to credit when purchasing goods or services from certain establishments. Credit cards originated in the United States in the 1930s; their use was wide-spread by the 1950s When a credit card is used the retailer records the name and account number of the purchaser and the amount of the sale, and forwards this record to the credit card billing office. At intervals, usually monthly, the billing office sends a statement to the card holder listing all the charged purchases and requesting payment immediately or in installments. The billing office reimburses the retailer directly. Most of the work involved in credit card operations is now handled by computers. Charges for the use of a credit card are sometimes paid directly by the card holder, and sometimes bone by the retail establishments that accept them. A continuing problem involved in the use of credit cards is the ease with which they can be used fraudulently if stolen or lost, although the liability of the owner is limited. The most generally used credit cards today are Master card, VISA etc By julia YuanUnit One Text A By Julia Yuan 5 II. Related Information: (1) Credit card It’s a card that identifies its owner as one who is entitled to credit when purchasing goods or services from certain establishments. Credit cards originated in the United States in the 1930s; their use was wide-spread by the 1950s. When a credit card is used, the retailer records the name and account number of the purchaser and the amount of the sale, and forwards this record to the credit card billing office. At intervals, usually monthly, the billing office sends a statement to the card holder listing all the charged purchases and requesting payment immediately or in installments. The billing office reimburses the retailer directly. Most of the work involved in credit card operations is now handled by computers.Charges for the use of a credit card are sometimes paid directly by the card holder, and sometimes bone by the retail establishments that accept them. A continuing problem involved in the use of credit cards is the ease with which they can be used fraudulently if stolen or lost, although the liability of the owner is limited. The most generally used credit cards today are Master card, VISA etc