History of the Credit Card
The route of credit card begins around 1914. It was introduced from company such as Western Union and other department stores, hotels, and oil companies. At that time, the card can only purchases goods and services from the issuer and the full amount must also be repaid upon the due date. The first "general-purpose" charge card was not introduced until 1950. It was the Diner's Club who initiated; however, it was not until the late 50s when the banks entered the credit card industry and revolutionized it by allowing balances to be carried over from month to month.
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