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