In 1947, the first bankcard, Charg-it, was made; accommodating the "buy now, pay later" philosophy (Mandell 157). In 1949, the Diners' Club Card was created for travel and entertainment. It's recognized as the first credit card because it was more advanced and used nationwide (Mandell xiii, 157). The idea was conceived at dinner in New York when Frank McNamara forgot his wallet and couldn't pay the bill. He, along with Ralph Schneider and Alfred Bloomingdale, are the men behind the credit card invention. The Diners' Club card "was also important because it introduced a middleman between the customer and the retailer, who no longer had to extend credit as a matter of personal service - it was strictly a financial product" (Strasser). In the late 1950's, American Express became the first plastic card, introduced outside the U.S., and used primarily for travel ("Credit-Card Game" 84; Mandell xiii, xiv, 158). Mastercharge was then created as the first revolving balance card allowing consumers to leave a balance and pay interest (Mandell xv, 158). In 1966, BankAmericard became the first general purpose card and quickly spread throughout the U.S. (Mandell 158; Woosley and Gerson). By the 1970's, plastic was the most popular form of payment (Greenbaum and Rubinstein 28).
 "Patti Page cutting ribbon opening Diners' Club exhibit at World's Fair, Ralph Schneider looks on."
(Patti Page Cutting Ribbon) |
After Credit Cards (Riddle, R)
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Eleanor Roosevelt's Diners' Club Card (Fallen, Osborn, and MacDonald 230)
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"Don't Leave Home Without It" ~American Express Card ("Database of Slogans") |
Visa Saints Credit Card (Jennings, Citibank)
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"It's Everywhere You Want To Be" ~Visa Credit Card ("Database of Slogans") |
Montgomery Ward Chargall (Jennings, Montgomery)
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"The Card is Key" ~Diners' Club Card ("Database of Slogans") |
