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What is the connection between Fresno and credit cards?

A) Fresno is the headquarters of a major credit card company.
B) Fresno experienced a credit card fraud epidemic.
C) Fresno implemented a cashless payment system.
D) Fresno is a popular location for credit card processing centers.

User Glendy
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1 Answer

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Final answer:

Fresno is known for being the birthplace of the credit card system, while Dover, Delaware, is known as the credit card capital of the US due to its favorable financial laws for credit card companies. Therefore option D is correct.

Step-by-step explanation:

The connection between Fresno and credit cards traces back to the inception of the credit card system in that city. While Fresno, California played a historical role in the birth of credit cards, the correct answer to the question is: D) Fresno is a popular location for credit card processing centers. Notably, credit cards were first introduced by Bank of America (now VISA) in Fresno in 1958. However, when it comes to the credit card industry's hubs, Delaware stands out due to its financial laws. Specifically, Delaware is home to many credit card companies because it eliminated usury laws which enabled these companies to profit greatly due to the lack of caps on interest rates.

User Chanell
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