I. INTRODUCTION Credit cards may appear to be nothing more than a rectangular-shaped piece of plastic, but in reality, they are a primary driver of consumer spending. Credit cards provide two distinct functions to their users: transacting and financing. (1) The transacting function allows consumers to use the card as a method of payment for daily transactions or large purchases while the financing function allows users to borrow money. (2) The majority of credit card users utilize both functions. (3)
