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A Visual History of the Credit Card

Nancy Trejos

I obviously have credit scores and credit cards on the brain today.

An item on really grabbed me just now. It gives a visual history of the Credit Card. It all started in 1951 when businessman Frank McNamara reached for his wallet to pay his restaurant bill and realized he didn’t have any cash. He created the Diners Club card to avoid anymore embarrassing restaurant moments. The actual card looked no fancier than a library card.

How many people out there know how the credit card came about? I didn’t know until I became a personal finance writer. I wish I would have understood credit cards much sooner. A bit of historical perspective and understanding of industry practices could have helped me save a lot of money!

By Nancy Trejos  |  June 12, 2009; 2:37 PM ET
Categories:  Credit Cards , Nancy Trejos  
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