Credit Card And Credit Cards

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Credit Cards Credit Cards play a major role in today 's society. They make purchasing items, and learning responsibility extremely easy. In order to maintain a Credit Card one needs to make sure they are up to date with their payments and they never spend all of the money on the card. But this is all going to be explained in this essay, so continue reading! `Credit Cards became a major role in society in the 1940’s. The first Bank Card was introduced in 1946 by a man named John Biggins who was a banker in Brooklyn. Biggins named his card “Charg-It”. With the Charg-It card, purchases could only be made locally, the payment would then be sent to Biggins’ Bank. In 1951 the first Bank Credit Card was created in new york for loan customers, which could only be used if you had a bank account. Throughout the late 1940s and early 1950’s, credit cards became extremely popular. In 1949, a man named Frank McNamara held a business dinner at Major 's Cabin Grill, a restaurant that was located in New York during that time. When Frank 's bill arrived, he remembered he had forgot his wallet. Although he did manage to solve his problem, he thought that there should be a faster way to retrieve cash. Frank and his partner Ralph Schneider returned to Major 's Cabin Grill with a cardboard card, which led to the start of the Diners Club. The card include the holder 's name and account number on the front and a list of restaurants in new york that accepted it. There was a 7% fee on every
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