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Technology Stocks : America On-Line (AOL)
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To: tang who wrote (30878)9/16/1999 9:11:00 PM
From: J Krnjeu  Read Replies (1) of 41369
 
Mr. Tang,

Years ago, all credit cards charge membership fee,
ranging from $45 - $90/year.

You must 'pay' the credit card company first before you can use their card to 'buy'.

Then Visa/Master cards lowered their annual fee, American
Express did not, the market share of Amex card started losing ground.



Originally, VISA and MASTERCARD were always free. Then they started to charge an annual fee when customers started to pay off their balances monthly to avoid finance charges.

The credit card companies had no choice but to charge an annual fee or go out of business. Then the customers started to carry balances and the credit card companies started to drop their fees.

I really don't see a correlation between credit cards and internet access. Credit cards are a necessity today because more people travel and internet access really is not a necessity by the majority of people.

Thank You

JK
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