The earliest credit card appeared at the end of 19. In the 1980s, the British clothing industry developed the so-called credit card, followed by the tourism and business sectors. However, at that time, the card could only be used for short-term commercial credit, and the money had to be paid back as needed. There was no long-term default and no credit line. In 1950s, McNamara, an American Manhattan credit expert, dined in a restaurant. Because he didn't bring enough money, he had to ask his wife to send money. This made him feel embarrassed, so he organized Diners Club (English: Diners Club). Members can bring their dining charge cards to 27 designated restaurants for consumption without paying cash. This is the earliest credit card. Franklin National Bank was the first bank to issue credit cards, and other American banks followed suit.
It is said that one day, Frank McNamara, an American businessman, entertained guests in a restaurant in new york. After eating, he found that he forgot to bring his wallet. He was deeply embarrassed and had to ask his wife to bring cash to the restaurant to settle the bill. So McNamara came up with the idea of creating a credit card company. 1 In the spring of 950, McNamara and his friend Schneider jointly invested110,000 US dollars to establish Dinka Club, the predecessor of Dinka Company, in new york. Diners' Club provides members with a card that can prove their identity and ability to pay. With this card, members can keep accounts and spend money. This kind of credit card that does not need to be handled by a bank is still a commercial credit card.
From 65438 to 0952, Franklin National Bank of California, as a financial institution, issued the first bank credit card.
1959, Bank of America issued an American bank card in California. Since then, many banks have joined the ranks of card-issuing banks. In the 1960s, bank credit cards were quickly welcomed by all walks of life and developed rapidly. Credit cards are popular not only in America, but also in Britain, Japan, Canada and European countries. Since 1970s, Hongkong, Taiwan Province, Singapore, Malaysian and other developing countries and regions have also started to issue credit cards.
The word "credit card" originally refers to this financial product introduced in this post, but before it was popular in China, there was a savings card without a credit card or even any credit card function. So the real credit card can only be called "credit card". A real credit card has the following characteristics: it is not allowed to deposit cash in advance, it can be repaid after consumption, it can enjoy an interest-free repayment period, it can be repaid in installments (the minimum repayment amount), and it can join international credit card organizations such as VISA, MASTER and JCB for global use.