Credit card (Cred) is a credit certificate issued by a commercial bank or credit card company to eligible consumers.
The forms of credit cards include expiration date, number, cardholder's name, etc. Consumers can go to the specialized commercial service department for shopping or spending, and then the bank will settle accounts with merchants and cardholders, and cardholders can overdraw within the prescribed amount.
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The earliest credit card appeared at the end of 19. 1In the 1980s, the so-called "door" developed by British clothing industry also complied with this trend. But at that time, the card could only be used for short-term commercial credit, and the amount still had to be paid with the letter. In 1950s, Mike, a credit expert in Manhattan, USA, didn't have enough money with him, so he had to ask his wife to send him to organize DinersClub. Members bring food and beverage prepaid cards to the designated prepaid card account 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, an American businessman invited a hotel to entertain guests, and he was so embarrassed that he had to ask his wife to bring cash to the hotel to settle the bill. So McNamara came up with the idea of creating a credit card company. 1In the spring of 1950, Macnider co-funded 10000 USD to establish DinersClub in new york, the predecessor of Diners Credit Card Company. Diners' Club provides members with cards, and members can use them to keep accounts. The nature of consumer cards still belongs to commercial credit cards.
1952 As a financial institution, Bank of California was the first to issue bank credit cards.
1959, Bank of America issued in California, joining the ranks of card-issuing banks. In 1960s, bank credit cards were widely welcomed by all walks of life and developed rapidly. Since 1970s, Japan, Canada, Hong Kong and other developing countries and regions have issued credit cards.
The word "credit card" means that the financial products introduced in this post are popularized to savings cards without any credit card function. So real letters are neither fish nor fowl. Real credit cards have the following characteristics: no cash deposit in advance, repayment after consumption, interest-free repayment period, installment repayment (minimum repayment amount), STER and JCB are universal.