Fact or Fiction: Inventor of Credit Cards Died Penniless?

The gig: A 95-year-old sailor, inventor and entrepreneur, Stanley A. Dashew is probably best known for his invention of credit card embossing and imprinting machines in the 1950s that helped give birth to the plastic credit card industry. He has also invented other devices in such fields as shipping, mining and marine recreation. He personally holds 14 U.S. patents.

, Inventor Of Credit Card Strip, Made Little Money From The Invention

The invention of credit card is a pinnacle of scientific developments

Credit card - Wikipedia, the free encyclopedia

The Diner’s Club Card sparked what we now think of as the modern-day credit card. Customers were able to make purchases at different locations and businesses and were no longer limited to what they could purchase. Although it was not until 1958 when Bank of America came out with its BankAmericard that we saw an all purpose credit card; the true credit for the invention of the credit card rests with Frank McNamara and the Diner’s Club. Today it seems as if everyone carries a credit card and as Alfred Bloomingdale predicted in 1960, “there will be only two classes of people—those with credit cards and those who can’t get them.”

Inventions of the 1950s - 1950 - The credit card

Who is to credit or, some would say, blame for the invention of the credit card? Here is the story. Credit cards are commonly used in modern-day society. The idea of buying something in the present and paying for it later wasn’t a common practice before the early part of the 20th century. It started as a business-to-business practice and is now available to consumers who can meet the standards set by credit card issuers.

Since the invention of credit card, information has been wasted everyday
Especially after the invention of credit card, a consumer started to spend more than what they had

Who Invented the Credit Card? | eHow

So, yeah, now we have health-care credit cards. Here’s what has to say: “Health care credit cards are the newest invention of credit card issuers determined to circumvent the CARD Act. These credit cards are designed to help consumers pay for medical expenses not covered by their insurance (e.g. cosmetic procedures, dental, infertility treatments, weight loss treatment, veterinary services) but can also be used to pay for health insurance deductibles.

Both of these early programs, however, are important to the invention of the credit card, as they were the conceptual foundation upon which it was ultimately created.

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Foreign transaction fees are another invention of credit card providers to diversify and increase their profit-making activities

Here is fictional story of how it happened