Word: carding
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Dates: during 1950-1959
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...Instant Money." Every day banks are sprouting new gimmicks to lure credit customers. Taking a cue from the successful Diners' Club (TIME, Sept. 22), some 200 banks have shuffled themselves into the credit-card game. Last week Georgia's ten hard-selling Citizens & Southern National Banks popped out the latest variation, advertised "Instant MONEY-Cash Loans Within 20 Seconds." The C. & S. device is a charge card that enables one to draw immediate cash up to thousands of dollars from any C. & S. teller's window, or to charge consumer goods at 1,000 Georgia stores...
Banks have found the credit card a sure-fire way to drum up credit business (instead of taking a one-shot loan, the cardholder becomes a permanent credit customer). In the typical system used by Chase Manhattan Bank, the stores pay a fee of 6% or less on charge-card business, depending on volume. Cardholders get the service free if they pay their monthly bills on time; or they can pay in five monthly installments, with a 1% monthly charge on the unpaid balance...
...limits of quick credit are bounded only by the businessman's imagination. Last month Amarillo's First National Bank wheeled out a car credit card to buck the big auto financing agencies. The holder presents the card in the auto showroom to prove that he has the bank's approval for a loan, like a cash buyer can drive out in a new car within minutes...
...necessary to install a check station, such as the ones in Widener and Lamont, where students must stop and prove that they are not absconding with illicit volumes. Furthermore, the method of checking out books from the Radcliffe library has a casual, trustful air--students sign the book's card and leave it on the circulation desk, pick up a date-due slip, and depart, all without any supervision by librarians. For those used to Harvard's stricter methods, the whole procedure seems slightly haphazard. One leaves the library with the feeling that he has gotten away with something...
Though Murphy at first denied the allegation, police later found the wallet, containing the owner's bursar's card, at Murphy's home. Murphy, under police questioning, then admitted to the beating...