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History of credit cards
Issued their own propriety cards -
American Express
American Express Formed in the year 1850 -
Oil companies and department stores
issued their own propriety cards -
The first bank card
The first bank card, called "Charg-it", was introducted in 1946 by John Biggins. (Biggin's Bank) -
CHARG-IT
The first bank card, named "Charg-It," was introduced in 1946 by John Biggins, a banker in Brooklyn. -
Diner Club Card
The Diner Club Card was invented in 1949 by Frank McNamara and Ralph Schneider. -
The first bank card in New York
the first bank credit card appeared in New York's Franklin National Bank for loan customers.It also could be used only by the bank's account holders. -
Diner card users reach 20,000
The number of Diner cardholders reached 20,000 people. -
American Express Credit Card
American Express emerged into the credit card industry with its own pruduct, a purple charge card for travel and entertainment expenses. In 1959, American Express introduced the first card made of plastic (previous cards were made of cardboard or celluloid). -
Revolving Balance
In 1959, the option of maintaining a revolving balance was introduced, according to MasterCard. This meant cardholders no longer had to pay off their full bills at the end of each cycle -
Revolving Balance
In 1959, the option of maintaining a revolving balance was introduced -
All Diner cards
All Diner Cards became Plastic. -
VISA
"The general-purpose credit card was born in 1966, when the Bank of America established the BankAmerica Service Corporation that franchised the BankAmericard brand (later to be known as Visa) to banks nationwide -
INTERBANK CARD ASSOCIATION
In 1966, a national credit card system was formed when a group of credit-issuing banks joined together and created the InterBank Card Association. -
iNTERbANK cARD aSSOCIATION
In 1966, a national credit card system was formed when a group of credit-issuing banks joined together and created the InterBank Card Association. -
Discover Card and The Super Bowl
Discover Card, originally part of the Sears Corporation. Its first card was unveiled at the 1986 Super Bowl. -
NEW American Express
it wasn't until 1987 that American Express issued a credit card allowing customers to pay over time rather than at the end of every month. -
Closed Loop System
the closed loop syetem was invented -
The BANKAMERICARD
The general-purpose credit card was born in 1966, when the Bank of America established the BankAmerica Service Corporation that franchised the BankAmericard brand -
Paypal
Paypal was created -
Cell Phone chips
CRedit card chips can be implanted in a phone for easy charging
