CREDIT CARD DATA:

  •     According to a report carried in the NEW YORK TIMES on Monday, September 20, 1999 credit card issuers at this time are experiencing a loss rate of about 8 cents for every US$ 100.00 of their sales on the World Wide Web, due to fraudulent use of their cards. According to the TIMES report, this is a slightly higher loss rate than they find in sales in the market at large. At this time, again according to the TIMES report, 59% of all Internet credit card purchases are made with VISA cards, 28% with Mastercard and 12% with American Express cards.  (SOURCE:  Feature, Business Digest, in BUSINESS DAY section, NEW YORK TIMES, Monday, September 20, 1999, pg. C1  L).  

  •     According to another report in the NEW YORK TIMES also on  Monday, September 20, 1999,  "By the close of the  New York cash market on Friday [September 17, 1999], trader said, the rate on the outstanding three-month [government] bill was 4.51 percent and on a six-month bill, 4.84 percent."  (SOURCE:  Article, Credit Ofrferings That Are Planned During the Week [no author credited], in Business Day section, NEW YORK TIMES, Monday, September 20, 1999, pg. C2  L). 

  •     On November 6, 1999 the NEW YORK TIMES carried a Bloomberg News Service report from Washington, D.C. dated November 5, 1999, which stated that American consumers had slowed down their use of credit cards in September, 1999. The report said that consumers rang up credit-card debt in September at a rate which was less than half the rate that they did in August, 1999. The Bloomberg report was based on figures which were released by the Federal Reserve Bureau on November 5, 1999. According to this report, "Debt from credit cards and revolving charge accounts rose $1.1 billion after a again of $2.3 billion in August. The September increase in revolving credit was at the slowest pace since March. The increase in overall debt was the smallest since it rose $5.6 billion in June." Analysts attributed the decline in such spending to a feeling that consumers may be holding onto their funds now, in order to spend more at Christmas time.  (SOURCE:  Article, "Pace of U.S. Consumer Borrowing Slows" by Bloomberg News Service, in BUSINESS DAY section, NEW YORK TIMES, Saturday, November 6, 1999, pg. C2 L).