Credit cards are big business. Americans spend ¡ç16 billion a year on cards, and there are already 59 millions of them in circulation. Many banks have their own credit card companies and issue cards free to their customers.
     Other credit card companies charge their members yearly fees. The stores that accept credit cards must pay a small fee to the credit card company a percentage of the purchase price of the merchandise or service. In turn, the credit card company promptly pays the store for the merchandise or service. Credit card companies make a profit from the fees they charge the store and also from the fees collected from customers who pay for their charges in monthly installments. However, credit card companies sometimes have problems collecting overdue payments from bad customers. The use of stolen, lost, or counterfeit credit cards by criminals has become a big problem for the credit card company. The company is responsible for the goods and services illegally charged to its customers accounts. ª¤