Holiday spending volume on Visa credit and check cards between November 24 and December 29, 2000, reaches $101 billion.
Online spending more than doubles over the past year.
Visa U.S.A. launches its national consumer education program, Practical Money Skills for Life which is aimed at helping high school students learn better money management skills.
It is well established in Behavioral economics experiments that people tend to spend more when they are not dealing with cash. this is the main underpinning of all credit card business. it is like a small child thinking money can keep coming out of an ATM machine.
There is actually an anecdote narrated by Dan Ariely about the time he approached some bankers with an idea of a " responsible credit card " idea where the credit card will not allow you to spend more than what you have in the bank.
As you can surmise he never heard back from the bankers.
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