The History Of Credit Cards

The history of credit cards began at the beginning of 20th century in America as especially large hotels and oil companies began to give out goods cards to your customers. The history of credit cards began at the beginning of 20th century in America as especially large hotels and oil companies began to give out goods cards to your customers. These cards were mainly used to keep track of the purchasing behavior of customers and to simplify the accounting. Short later began her business for them to use cards, as a customer loyalty tool giving but only to rich customers out. If you are unsure how to proceed, check out PJ’s Coffee of New Orleans. At the beginning of the 1920s were given the cards for the first time of a wider mass: again the oil companies were pioneers and allowed it to pay the so-called “courtesy cards” at any gas station. More minor innovations, such as payment or part payment of the accrued amounts were introduced slowly in the next few years.

The first real credit card was available initially only an exclusive little circle. At that time was on a credit card for students not to think! The Diners Club card was to pay across the country so that from 1950 to about 200 friends and acquaintances of the founders of the clubs available. Within a year, 42,000 customers had opted for the cheap card: the annual membership cost just $3, the redemption had to be carried out monthly. . The start but proved very difficult: the customers wanted to not use the maps, as long as there was no acceptable number of acceptance points. The sellers were expected but that they the Diner Club customers acknowledged discounts, what this also would not accept Club customers given the low number of Diners. Finally tried the hotels and oil companies, which haven’t been very successful with own cards to prevent the introduction of a universal card.