Say you don't have a credit card? No problem. You can now apply for credit cards online. Many credit card companies post their credit card applications online so that potential customers can apply quickly and easily. Most companies will inform you of acceptance or rejection of your application for a new credit card within a few minutes or less. If you are accepted, you can look to receive your new card within a week or two. Ten years ago, you had to wait to receive the credit card application, fill it out and then wait some more while you mailed it back in. Then, you had several weeks' worth of waiting to do before you could find out if you'd been accepted. Now, approval and reception of your new card is much faster and efficient thanks to the Internet. Since most credit card companies post their various rates, charges, fees, features and other information online, customers can now compare credit card offers more easily, as well. So, even the choice of which card to apply for has been made less complicated and complex through use of Internet "magic."

The biggest impact that the Internet has had on the credit card industry is the online shopping explosion. Many people now purchase items that they want or need to buy via the Internet using their credit cards. Online shopping is convenient - you can do it anytime, from anywhere. Credit card payments can be made quickly and securely, ensuring that the shopper has a safe and satisfying transaction. People even purchase groceries and food items online, charging it all to their credit cards. Many restaurants (pizza chain Domino's, for example) allow customers to order over the Internet and pay in advance with their credit cards. Grocery and gourmet shops also offer advance ordering using credit cards. The credit card industry has become much more profitable, with the increased use from consumers discovering the ease and convenience of online purchasing.

The Internet allows credit card users to access and monitor their accounts online. Customers can make payments, check for fraudulent credit card activity or keep up with current balances through viewing their account statements. All of this electronic monitoring of credit cards has helped the credit companies reduce their customer service departments. The use of "paperless billing" is having an impact by not having to print and mail monthly statements to thousands of customers using the service. Credit card companies are spending less while offering their customers more.

Not all of the Internets changes have been positive ones. Identity theft and credit card fraud are more prevalent with the advent of online shopping and accounting. The credit card industry has had to come up with ways and means to fight these criminal activities. More vigilant monitoring of accounts, email or telephone alerts and fraud protection plans help the consumer and the company prevent, catch and manage fraudulent users, but at a high cost to the companies.

The Internet has changed the credit card industry and the world of credit card users. From easier, faster online payments for the costumer to creating more competition among the credit card companies, change is quite prevalent. As technology and the Internet grow and improve, the credit card industry will no doubt grow and adapt, too, to better serve its customers and the world.