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The History of the Credit Card Appearance

The modern person can’t live without the credit cards. Such plastics are used in all corners of the world. Today there exist various types of them.

The main aim of such plastics is

  • to provide people the money to spend;
  • to take a commission from each client.

These are the two core aims not only of modern plastics but also of early prototypes of credit cards.


Back to the future

Some historians date history of the credit plastics back to the ancient times. Even then the merchants used paper to record the purchases of the particular clients. The sellers often sold goods on credit, keeping the record about it on the paper.

The modern history of such cards dates back to 1914 when the major trading companies in America started to issue some sort of modern loyalty plastics. They were issued to record and give the loan to the richest buyers of gas and oil.

Some years later in 1936, American Airlines started to issue the cards to record the clients to airline tickets That was one of the earliest prototypes of Airmiles credit plastics.

The next phase of plastic evolution happened in 1949. That was the year when Diner Club appeared. This Club gathered creative business people that decided to provide the loan money in order that a client can start buying without actually having money.

The Diner Club, of course, took its interest payment from such operations. It took clients lots of time to get accustomed to such sort of cards. Obviously, in the beginning, this financial product was not very much welcome by the consumers.

Though, after the Second World War, the prosperity of Americans grew. They were able to purchase more products and services. Therefore, the plastics by Diner Club got popular.

Era of key financial institutions

Diner Club certainly pioneered. It created the fashion to buy on credit. Very soon after first Diner Club plastic key financial banks of America started to issue credit plastics too.

Bank of America gained the reputation of the most reputable loan providers. It also started to innovate loan scheme. Very soon several California banks designed Master Card, one of the best known today.

Later on, the plastics by these banks entered the international competitions. Japan started to produce fine loans cards. Very soon the country became the second largest card issuer in the world after the United States.

Today credit plastics offer not only the loans but many additional bonuses and rewards. There certainly will be more types of credit cards developed soon. The clients should check them all.

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