Where Did Credit Cards Come From?
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Where Did Credit Cards Come From?

In 1950, the idea came from Frank McNamara, a businessman who’d forgotten his wallet while out to dinner in New York.  The next day he invented a credit card called the “Dinners Club” which was a way to pay without having cash.  This was the modern credit card, and first general-purpose charge card, however requiring a consumer to pay the statement balance in full each month.  Then in the 1960’s Bank of America came out with a general-purpose credit card, which started the U.S on the credit use track. 

Here is some history about how we now use credit and spend our money.

 

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