History Of The First Modern Credit Card

In 1949 a man name Frank X MC Namara had a constructed a way for customers to use one credit card for multiple stores MC Namara had discussed the idea with a two colleges which led all three of them pulling money and starting their own company in 1950 they had named this company the Diner Club.
The first of the cards were given in 1950 they were made out of cardboard they were given to 200 people mostly acquaintances of MC Namara and somewhere friends .The credit card was excepted at 14 restaurants in New York. The idea of the credit card grew at the end of 1950 over 40,000 people were using the Diner Club Credit Card this is known as the first credit card.

Frank X MC Namara

And soon after that Business begun to use the Diner Credit Card in other county's making it a form of payment and that how and this made it the first international credit card in 1953. By the time 1959 came around over one million people had a Diner Credit Card. In 1981 Citicorp took over Diner Clubs they were still very popular among Business and Travelers in 2008 Discover took over and in 2009 BMO Financial Group was given the right to issue the Diner Club Credit Cards in North America.

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