Credit is a selling strategy that has its own background. One of the most famous tools used to apply this payment method are credit cards. Naturally, credit history credit card can show us why credit cards are so important for global economy. Without credit cards, many big companies will disappear.
In fact, when we use "plastic" to buy goods or services, it is not necessary to have cash hand at the moment of the purchase and that is the most important advantage of using credit cards.
According to some paper and online encyclopedias, credit cards appeared for first time in the United States during the 1920s. In fact, they started being issued by firms such as factories or hotels as a new service for their best clients. Despite that, there is some information related to use of credit cards in Europe in 1890. At the beginning of credit history credit card, credit cards only could be used directly between the credit card issuer and his or her customers. In 1930s, firms started to accept each other's credit cards. Nowadays, credit card enable you to purchase what you need all around the world.
Lots of years ago, credit cards were made of metal coins, celluloid, fiber and paper. Today most of them are made of plastic. Considering first bank credit card, it appeared in 1946 and its inventor was John Biggins. He created a system called "Charge-it" which related banks and merchants.
There is a very famous credit card, which has a particular history: the Diners club credit card. The Diners club credit club was issued for first time in 1950 in order to enable the members of the club to pay restaurant bills. In 1958, American Express and Visa credit cards appeared on the market.
Credit cards started having popularity in 1960s. At that time, many companies offered credit cards and promoted them through different types of advertisements. By 1970s, Congress regulated credit card industry in order to protect give issuers and users the rules to utilize them properly within a legal frame. Since them, credit cards have been essential financial tools.
Credit history credit card has enable people to obtain an important credit benefit that has totally changed their financial lives by giving them more credit opportunities. Now, you know more about credit cards, so when you use yours next time, you will see it with more respect. Remember that it has an incredible history.