IX. Writing

Exercise 24. Translate the following text in writing.

Credit cards are the most popular form of credit today. Accounts for these cards are set up by banks, oil companies, retail stores, or by businesses that specialize in extending credit for special purposes such as travel and entertainment. A special card, showing the person's name and account number and a place for the person's signature, is issued to identify the customer as one having a charge account. These charge cards have become very popular. MasterCard and VISA are two of the best known. There usually is an annual fee that must be paid for the privilege of using the card.

Bank charge cards are issued to people whose credit ratings meet the bank's standards. A bank charge card, in effect, indicates that the credit rating of the cardholder is good. Agreements are made between banks and various merchants to accept the charge cards. The bank charges your account for your charge purchases and gives you a bill once a month for all the purchases you made.

Customers like bank charge cards because they are accepted by many businesses in many foreign countries. Credit cards also become popular in Ukraine nowadays. Bank charge-card users like the fact that they receive only one monthly bill rather than many from various businesses where they charge purchases.

The main disadvantage to bank ch cards is that consumers often find it too easy to use their 'plastic' money and may find themselves buying more then they can afford.