Which Is The World's First Credit Card?


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Arlene Fernandes Profile
In 1887 Edward Bellamy invented the concept of using a credit card. He described using a card to make purchases in his novel 'Looking Backward'. The idea of using a card to pay merchants was first thought up by Ralph Schneider and Frank X. McNamara in 1950.

The Diners Club was the company that introduced what can be called the world's first "general purpose" credit card. It was basically a charge card, which was like a credit card, but the entire payment had to be made with each statement. The Diners Club was formed in the United States partially through a merger with the companies Dine and Sign. 20,000 such cards were used throughout the country within a year. American Express as well as Carte Blanche credit cards were introduced shortly after.

The story goes that Frank McNamara had to call his wife as he had forgotten his wallet while dining in New York City at Major's Cabin Grill. He was determined never to face that kind of humiliation again. Thus the Diners Club credit card was born.
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David Hermann Profile
David Hermann answered

The first credit card was invented by Diners Club in the year 1950, then after that several credit card were issued for several purpose and the function has been changed simultaneously. Now the situation is that most people are using credit card in each and every country. In simple words we can say that it is one of the finest inventions.

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