Credit cards

Credit Cards（信用卡）

NB: This is not an accurate word-for-word transcript 1

Dan: Hello, I’m Dan Walker Smith and this is 6 Minute English from the BBC.

Today I’m joined by Kate. Hi Kate.

Kate: Hi Dan.

Dan: Now Kate, today we're talking about credit cards. So could you please tell me

what those are?

Kate: Sure. Well, credit cards are the plastic(塑料) cards we use instead of money. You

can use credit cards to pay for items in shops or to take out cash; that is money

in its physical form, such as coins or notes.

Dan: So this week's question for you Kate is: In what year was the first ever credit

card introduced? Was it:

a) 1951

b) 1955

c) 1962

Kate: That's an interesting question. I had no idea they even went back as far as

1962. I thought they were much more recent than that. So in that case I'm

going to go for c, 1962.

Dan: OK, we'll see if you're right at the end of the programme.

Kate: Now one of the obvious advantages of using a credit card is that it's often more

convenient than carrying cash. If something's convenient it means it's easier

generally or more suitable.

Dan: As you're not using actual money, some people say that credit cards can

encourage you to spend more than you can really afford, and you could fall

into debt. Could you explain what that means Kate?

Kate: Of course. Well the word debt, spelt D-E-B-T, is when you owe money to

someone else.

And unfortunately credit cards often mean that people build up an awful lot of

debt. So they're often not a terribly good idea. Have you ever had a credit card

Dan?

Dan: I have what they call a debit 2 card, so I never accumulate money. I just pay off

what I already have, and I'm never in debt to anyone.

Kate: Well that's very sensible. I think credit cards can be a very good idea if you're

travelling or if you're abroad, and you're a bit worried about not being able to

get money out of the cash machine. But then unfortunately by the time you get

back to your own country you've run up lots of debt on your credit card, which

you have to pay off.

Dan: That's the thing; they're good for emergencies, but maybe you don't want to use

them for everyday life.

OK, let's listen to the British journalist Mark Flint, as he explains why credit

cards became so popular.

Kate: You'll hear the expression that credit cards were 'catching 3 on'. To catch on in

this context means to become popular.

Dan: And listen out for the word convenience, which, means that the people found

the cards convenient. As we heard before, if something's convenient it can

save you time and effort.

So if credit cards were popular with bank customers because of their

convenience, why were they so popular with the banks?

Extract 1

By the early 70s the credit card was catching on quickly. Consumers liked the

convenience and banks liked the profits.

Kate: Aha, so while the customers liked the convenience of a bank card, the banks

liked the profit, unsurprisingly. The profit is the amount of money that they

were making.

Dan: Banks make profit from credit cards by charging interest each month on the

unpaid 4 debts.

Kate: And the word interest here is the term we use for a fixed 5 fee that you pay

when you borrow money. It's usually a percentage（百分比） of the total amount. And

debt, remember, is when you owe someone money.

OK, so let's have a listen to the next extract. The speaker talks about cash

machines. These are machines where you can take out money – or cash –

using your credit card. They're also called ATMs, which stands for

Automated 6 Teller 7 Machine（启动柜员机）.

Dan: Can you tell me when the world's first cash machine was installed?

Extract 2

People were slowly getting used to plastic money, which would eventually be crucial to

another banking 8 revolution: cash machines. The world's first ATM was installed in a

Barclay's branch in London in 1967, but it was quite a complex transaction.

Kate: Right, so the first ATM in the world was installed in 1967. It was opened at a

branch of Barclay's Bank in London. Here branch means a division of a

larger organisation 9. So the branches of a bank are smaller divisions of the

whole company.

Dan: The speaker also used an interesting term: plastic money. Of course, he

doesn't mean that the money itself is plastic, but that you're using a plastic card

instead of actual cash.

Kate: And we also heard the word crucial. Crucial here means something vital or

important. So when the speaker says cash machines were crucial to the

banking revolution, he means that they were very important to the development

of how we handle our money.

Dan: OK, we’re almost out of time, so let’s go over some of the vocabulary we’ve

come across today:

Dan: And let's go back to today's question: In what year Kate was the first ever

credit card introduced?

Kate: And I made a complete guess, because I thought the 50s were a bit too early to

have credit cards. So I went for 1962.

Dan: And for the first time in a number of weeks Kate, you're wrong.

Kate: Oh dear.

Dan: In fact, credit cards were introduced in 1951.

Kate: Gosh, I find that really surprising. I had no idea that they had credit cards that

early on, in the early 50s.

Dan: Well actually, the story goes that in 1949 Frank McNamara, who was head of

the Hamilton Credit Corporation, was having supper with his lawyer and a

friend in a New York restaurant.

And at the end of the meal he realised that he'd forgotten his wallet; he couldn't

pay for the meal, so he had to ring his wife to bring him some money.

Kate: Poor old wife!

Dan: So he was so embarrassed（使窘迫） by this that he decided 10, with his fellow diners, to set

up the Diners' Club credit card, so that you could pay for meals without

needing any money.

Kate: Ah, so that was the first credit card.

Dan: Well if the story's true. I'm not entirely 11 certain whether there's any truth to it

entirely, but it's a nice story.

Kate: It is a nice story, and it's interesting just to see how the idea of the credit card

first emerged.

Dan: So from all of us here at BBC Learning English, thanks so much indeed for

listening, and goodbye!

Kate: Goodbye!（本文由在线英语听力室整理编辑）

 

点击收听单词发音  






1
transcript

  
 


n.抄本，誊本，副本，肄业证书


参考例句：





A transcript of the tapes was presented as evidence in court.一份录音带的文字本作为证据被呈交法庭。
They wouldn't let me have a transcript of the interview.他们拒绝给我一份采访的文字整理稿。












2
debit

  
 


n.借方，借项，记人借方的款项


参考例句：





To whom shall I debit this sum?此款应记入谁的账户的借方？
We undercharge Mr.Smith and have to send him a debit note for the extra amount.我们少收了史密斯先生的钱，只得给他寄去一张借条所要欠款。












3
catching

  
 


adj.易传染的，有魅力的，迷人的，接住


参考例句：





There are those who think eczema is catching.有人就是认为湿疹会传染。
Enthusiasm is very catching.热情非常富有感染力。












4
unpaid

  
 


adj.未付款的，无报酬的


参考例句：





Doctors work excessive unpaid overtime.医生过度加班却无报酬。
He's doing a month's unpaid work experience with an engineering firm.他正在一家工程公司无偿工作一个月以获得工作经验。












5
fixed

  
 


adj.固定的，不变的，准备好的；(计算机)固定的


参考例句：





Have you two fixed on a date for the wedding yet?你们俩选定婚期了吗？
Once the aim is fixed,we should not change it arbitrarily.目标一旦确定，我们就不应该随意改变。












6
automated

  
 


a.自动化的


参考例句：





The entire manufacturing process has been automated. 整个生产过程已自动化。
Automated Highway System (AHS) is recently regarded as one subsystem of Intelligent Transport System (ITS). 近年来自动公路系统(Automated Highway System,AHS)，作为智能运输系统的子系统之一越来越受到重视。












7
teller

  
 


n.银行出纳员；(选举)计票员


参考例句：





The bank started her as a teller.银行起用她当出纳员。
The teller tried to remain aloof and calm.出纳员力图保持冷漠和镇静。












8
banking

  
 


n.银行业，银行学，金融业


参考例句：





John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
He possesses an extensive knowledge of banking.他具有广博的银行业务知识。












9
organisation

  
 


n.组织，安排，团体，有机休


参考例句：





The method of his organisation work is worth commending.他的组织工作的方法值得称道。
His application for membership of the organisation was rejected.他想要加入该组织的申请遭到了拒绝。












10
decided

  
 


adj.决定了的，坚决的；明显的，明确的


参考例句：





This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。












11
entirely

  
 


ad.全部地，完整地；完全地，彻底地


参考例句：





The fire was entirely caused by their neglect of duty. 那场火灾完全是由于他们失职而引起的。
His life was entirely given up to the educational work. 他的一生统统献给了教育工作。