How Did Credit Cards Change America
March 17, 2013
How Credit Cards Changed America
The credit card was a changed that made Americans life’s easy and now hard. Now a days credit cards are use for every thing. Credit cards changed America in the best of ways and worst too. It changed America how we do thing, life style, and credit card debt.
The credit card was invented by Frank X. McNamara February 8, 1950. It was not called a credit card in the begin it was a diners club. The man who made the credit card wanted a way for Americans to have money in one places. He got the idea from his experience when going to eat and not having his wallet with him. Him and his two friends helped him with the diners club. They gave out diners club to 200 people to see what they think about
it. The customers were glad to have it with them.
As the time has past the name of the diners club changed into credit card. The card was used to buy the things you needed and to don’t worry how to pay for it at the time. The card was paid at the end of the month when you had the money to pay everything off. When people took advantage of paying each month and don’t worrying they forgot to pay and never paid the fee. The people who didn’t pay each month they got closer to debt. Many people with credit cards are pile with debt that they can’t pay off soon. Then they need help to drop some of the debt.
When the credit card came out the customers who own the card life style changed. There life’s changed by the was they send there money one and when the end of it. The credit card was so people have there money in one places they can have and use all the time on the go. As the time past the people who owed the card know how to take control of the card. Got use to the was and the use of the card. When going to use it. The first bank that issued credit card was in Brooklyn in New York in the 1946. Then the first promoted to traveling salesmen for the on the road. But this was in the early 1960s. After all this they made brad name credit card like American Express and MasterCard. These two became a huge successes overnight. By “the mid 70s the U.S congress begin regulating the credit card.”
How Credit Cards Changed America
The credit card was a changed that made Americans life’s easy and now hard. Now a days credit cards are use for every thing. Credit cards changed America in the best of ways and worst too. It changed America how we do thing, life style, and credit card debt.
The credit card was invented by Frank X. McNamara February 8, 1950. It was not called a credit card in the begin it was a diners club. The man who made the credit card wanted a way for Americans to have money in one places. He got the idea from his experience when going to eat and not having his wallet with him. Him and his two friends helped him with the diners club. They gave out diners club to 200 people to see what they think about
it. The customers were glad to have it with them.
As the time has past the name of the diners club changed into credit card. The card was used to buy the things you needed and to don’t worry how to pay for it at the time. The card was paid at the end of the month when you had the money to pay everything off. When people took advantage of paying each month and don’t worrying they forgot to pay and never paid the fee. The people who didn’t pay each month they got closer to debt. Many people with credit cards are pile with debt that they can’t pay off soon. Then they need help to drop some of the debt.
When the credit card came out the customers who own the card life style changed. There life’s changed by the was they send there money one and when the end of it. The credit card was so people have there money in one places they can have and use all the time on the go. As the time past the people who owed the card know how to take control of the card. Got use to the was and the use of the card. When going to use it. The first bank that issued credit card was in Brooklyn in New York in the 1946. Then the first promoted to traveling salesmen for the on the road. But this was in the early 1960s. After all this they made brad name credit card like American Express and MasterCard. These two became a huge successes overnight. By “the mid 70s the U.S congress begin regulating the credit card.”