Credit Cards

Developing a successful career in the credit card industry is still possible today despite the fact credit card companies were almost the only to feel the negative impact that the credit crunch had on the finance industry. It is one of the largest industries within the financial niche and, until the credit crunch, it was one of the fastest growing sectors.

Credit cards, as well as debit cards, allow many individuals to gain access to items and experiences – from home appliances to trips overseas to refurnishing their homes – that they would not be able to achieve without that extra amount of money. Anyone interested in pursuing a career in credit cards should know that there are three main players worldwide that share most of the market.

These players are Visa, MasterCard and American Express. In the United States of America, Visa has a market share of 36%, Mastercard a share of 26%, and American Express a share of 12%. In the mid-1910s Western Union made it possible to develop a career in credit cards as it was then when it first issued metal cards, which it called “metal money”, that allowed users to defer payments without any extra interests. A decade later, a similar idea was adopted by General Petroleum Corporation to sell gasoline.

In the 1950s, with the arrival of New York’s Franklin credit system, the modern credit card was created and more individuals grew interested in pursuing a successful career in credit cards.

Even though the economic scenario may not seem very appealing, if you are interested in pursuing a career in credit cards you should not be disappointed or discouraged. People have grown accustomed to using credit cards for major purchases and are not ready to do without them.