Today, more and more people are using credit cards instead of money to buy the things they need. Almost anyone who has a steady income and a continuous work record can apply for a credit card. If you have a credit card, you can buy a car, eat a dinner, take a trip, and even get a haircut by charging the cost to your account. In this way you can pay for purchases a month or two later, without any extra charge. Or you may choose to spread out your payments over several months and pay only part of the total amount each month. If you do this, the credit card company or the bank who sponsors the credit card will add a small service charge to your total bill. This is very convenient for the customer. With the credit card ill your wallet or purse, you don't have to carry much cash. This saves you trips to the bank to cash checks or withdraw cash. Also if you carry credit cards instead of a lot of cash, you don't have to be concerned about losing your money through carelessness or theft. The card user only has to worry about paying the final bill. This of course can be a problem if you charge more than you can pay for. Credit cards are big business. Americans spend $16 billion a year on cards and there are already 590 million of them in circulation. Many banks sponsor their own credit card companies and issue cards free to their customers. Other credit card companies charge their member annual dues. The stores that accept credit cards must pay a small fee to the credit card company a percentage of the purchase price of the merchandise or service. In turn, the credit card company promptly pays the store for the merchandise or service. Credit card companies make a profit from the fees they charge the store and also from the fees collected from customers who pay for their changes in monthly installments. However, credit card companies sometimes have problems collecting overdue payments from unreliable customers. Also the use of stolen, lost, or counterfeit credit cards by criminals has become a big headache for the credit card company that is responsible for the goods and services illegally charged to its customers' account.