Review of Visa, Mastercard and network fees including interchange fees. Break down of the process of how to apply for a credit card and how to build credit. Discussion of the scale of a credit score and the different credit bureaus including Experian, TransUnion, and Equifax.

This episode explores the human emotions people feel, how to actively listen, what does it really mean when someone says "stop calling me" and the ramifications that come with that. An example of a customer complaining about why they were given a line of credit and exploration of how many credit card applications have been made, the process of applying for a credit card over time. There is more in depth discussion of the basics of the credit card system and an explanation of worldwide processing networks. Explanation on what a merchant is, a credit card issuer, and a credit card or payment network that goes into explanation of an open network verses a closed network.

Conversation between two team leaders that work at a credit card-card company and different stories about different scenarios that we have come across collecting money for a credit card collections department. Discussion around spouses opening up accounts, people opening up accounts with 0% interest promos and expectations around certain programs offered to individuals. Cash advance, high interest rates, building credit and best practices for handling credit cards.

Explanation of what happens when an account charges off. The story talks about a lady who is angry with the company, the lady has 30 minutes to save her account from charging off and she misses the charge off by 3 minutes because the lady rants about how horrible her experience she had. Ironically, looking over her account, she called in was the day after the payment processed. The lady rants how she was a victim of horrible service. She rants about interest on her card. Interest on a credit card is explained through reading a credit card statement and the disclosure for late payment warnings, and paying off interest, and how not to pay interest on a credit card.