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A credit card is a payment card, usually issued by a bank, allowing its users to purchase goods or services, or withdraw cash, on credit. Using the card thus accrues debt that has to be repaid later. [1] Credit cards are one of the most widely used forms of payment across the world. [2]
Credit cards are usually small plastic cards with a unique number attached to an account. Most are magnetic stripe cards and many have an EMV chip for use by card readers. Paying with a credit card means you borrow the money and must pay it back in a specified time.
From 1966 until 1970, more than 100 million credit cards were mass-produced and mailed, unsolicited, to customers the banks had deemed creditworthy — a far cry from the sometimes stringent application process of the current credit-card landscape.
A credit card is a thin rectangular piece of plastic or metal issued by a bank or financial services company that allows cardholders to borrow funds with which to pay for goods and services...
From the very first Diners Club card to today’s metallic, chip-enabled tapping wonders, learn the history of credit cards from Forbes Advisor.
The plastic credit cards in your wallet trace their history back nearly 100 years, but perhaps the most important point on the timeline came in 1950.
Throughout their history, credit cards have offered advantages over all forms of money: They’re pocket-size, easily portable, secure and have no intrinsic value in themselves. Here’s how credit cards came to be, how they’ve evolved and what they may look like in the future.