The earliest institutions to issue credit cards were not banks, but department stores, restaurants, entertainment industries and gasoline companies. Customers can purchase goods on credit at these stores that issue chips and pay on time.

It is said that one day, American businessman Frank McNamara was entertaining guests for a meal in a New York hotel. After the meal, he found that he had forgotten his wallet and had to call his wife to bring cash to the hotel to settle the bill. So McNamara came up with the idea of ??starting a credit card company. In the spring of 1950, McNamara and his friend Schneider founded the "Diners Club". The club provided members with a card that could prove their identity and ability to pay. Members could use the card to record their purchases. This kind of credit card that does not require bank processing is still a commercial credit card.

In 1952, Franklin National Bank in California, USA, was the first financial institution to issue a bank credit card.