Article Categories
» Arts & Entertainment
» Automotive
» Business
» Careers & Jobs
» Education & Reference
» Finance
» Food & Drink
» Health & Fitness
» Home & Family
» Internet & Online Businesses
» Miscellaneous
» Self Improvement
» Shopping
» Society & News
» Sports & Recreation
» Technology
» Travel & Leisure
» Writing & Speaking

  Listed Article

  Category: Articles » Finance » Credit » Article

Credit Card History

By Devin Gilliland

The credit card is the result of many merchant credit systems. It was used for the first time in the 1920s. The first credit cards were used in the United States to sell fuel to the automobile owners. Their number was increasing dramatically and, in 1938, several firms started to use each other's cards.

Edward Bellamy invented the first credit card in 1887. He was the first to use the term "credit card". Ralph Schneider and Frank X. McNamara invented the concept of using cards to pay merchants in 1950. The Diners Club produces the first general purpose card, shortly followed by American Express and Carte Blanche. Western Union had begun a similar activity in 1914.

In 1958 the Bank of America provided the BankAmericard: the product that evolved into the actual Visa system. Mastercard appears in 1966 when some banks established MasterCharge.

Those who were traveling all over the country needed an effective way to make the necessary transactions. They needed to be able to take their credit anywhere and use banking facilities. Barclaycard, in 1966, in the UK, launched the credit card for the first time outside of the United States.

The card reaches huge adoption level in the United States, Canada and UK, but many cultures were cash-oriented in the last part of the 20th century. There are still many countries where the credit card system is poor, depending on the individual banking infrastructure.

The credit cards were not always made of plastic. They also consisted of metal, paper, celluloid, and fiber. In 1946 John Biggins invented the program that connected the local merchants to bank customers. The banks billed the customer, coming from the merchants that deposited sales figures into the bank.

France was very fast to develop chip-based credit cards and now this is the major anti-fraud credit feature. Now the design of the credit cards is important too. The customers are tempted to use the prettiest cards; they prefer best designed logos too. The personalized cards were used by Bank of Hawaii in 1969. They are delivered usually online by many specialized software firms.

Now, millions of families use the general-purpose credit cards, from many issuers, with the best conditions. This simple way to offer credit to customers is becoming more and more popular. Tips paid by credit cards are always welcome. We must remember that finance charges may be different depending on the method used by the creditors. All terms and conditions on the credit card use must be deeply understood. The bills must be promptly paid to keep the credit rating high and avoid important charges. Late payment charges must be avoided too. It is wise to keep a list of all credit card numbers. In case of theft or loss, this is the easier way to report the accident to the credit cards issuer.
About the Author
This article is written by Devin Gilliland publisher for credit-wisdom and

Article Source:
If you wish to add the above article to your website or newsletters then please include the "Article Source:" as shown above and make it hyperlinked.

  Some other articles by Devin Gilliland
Secured Credit Cards
Credit card owners, the merchants or banks; everybody needs to be sure that every transaction is secure. For merchants, credit card transactions are becoming more secure than any other form of payment ...

How to Choose a Credit Card
Before accepting one of the tempting offers that are coming in the mail, that urge the client to accept, thorough research is a must. The customer must find the best deal. As a credit ...

How to Build Your Credit Card Rating
Almost everybody knows the main advantages of owning a credit card. Credit cards are used all over the world and they are ...

Credit Card Security
The credit card seems to be one of the most popular ways to make any kind of payment; it is easier to purchase goods ...

Credit Card Advantages
Payment through credit cards seems to be one of the best payment methods, especially for those shopping on the web. It looks like more than 60% of businesses ...

Credit Cards: Advantages and Disadvantages
The fastest, easier and most cost-effective payment system is the credit card. This system is very popular all over the world and will be developed further in the future. Credit cards firms are offering new and ...

  Recent Articles
Debt Collection Agencies : Understanding a growth industry
by Martin McAllister

Five General Financial Habits That Can Raise Your Credit Score
by Dulce Azogue

Why Your Credit Score Is More Important Than You Realize
by Dulce Azogue

How To Start Fixing Your Credit Repair Ratings
by Tony Pescatore

Cheap Credit Card: Make It Possible…With Ease
by Josephine Wingfield

How To Eliminate Credit Card Debt
by Tony Pescatore

Bad Credit Is No Longer A Taboo In Loan Market
by Turk Malloy

Poor Credit Does Not Debar You From Getting Secured Loan
by Aldrich Chappel

Credit Card Debt Management Gives Better Solution of Debts
by Ann Gibson

Bank On Your Future And Purchase The Car Of Your Dreams
by Christine Macguire

Business credit card: A new dimension for financing business
by Josephine Wingfield

The Fine Print Your Credit Card Issuer Doesn't Want You To Read.
by Josette Pajotte