The earliest credit card appeared at the end of 19. From 65438 to 1980s, the so-called credit card was developed in British clothing industry, followed by tourism and business departments.

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.

It is said that one day in 1950s, Frank McNamara, an American businessman, entertained guests in a restaurant in new york and found that he had forgotten his wallet after eating.

Embarrassed by having to call his wife and ask her to bring cash to the hotel, McNamara came up with the idea of setting up a credit card company.

1 In the spring of 950, McNamara and his friend Schneider jointly invested110,000 US dollars to set up the Diners Club, the predecessor of Diners Credit Card 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 spend money in 27 designated restaurants without paying cash. This is the earliest credit card.

This kind of credit card, which does not need to be handled by a bank, belongs to commercial credit card. From 65438 to 0952, Franklin National Bank of California, as a financial institution, issued bank credit cards for the first time, becoming the first bank to issue credit cards.

Extended data:

Credit cards are a bit:

1, you can spend without overdraft, and you can enjoy an interest-free period of 20-56 days to repay the principal and interest on time without any charge.

2. It is not only safe and convenient to swipe your card when shopping, but also a bonus gift.

3. Special merchants who hold cards in banks can enjoy preferential treatment.

4. Accumulate personal credit, add a credit record to your credit file, and benefit for life.

5. National access is barrier-free, and you can withdraw money or spend money on ATM and POS machines with UnionPay logo.

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