History of credit cards

History of credit cards

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I recently randomly typed on Wikipedia, then followed a bunch of plastic money pages!

Some of the things I have learned about our beloved plastic are very interesting and I will share some of them with you today.

Passport

Visa was started by Bank Of America under the name Bankamericard.

The card slowly expanded to other banks and eventually renamed the Visa International Service Association.

It is now one of the largest financial institutions in the world, accepted on every continent.

Visa's sponsorship of the Olympic Games is seen as the driving force behind the card's success.

The company has been the sponsor of the Olympic Games since 1988.

Master Card

Not long after Bank Of America created Bankamericard, other banks partnered to create MasterCharge what is today known as MasterCard.

It was started under the name of the Interbank Card Association and became MasterCharge many years later.

MasterCard's "Invaluable" commercial in 2004's Super Bowl, featuring The Simpsons was regarded as one of the best ads ever to air at the Super Bowl.

Visiting card

The first card with no annual fees was started by Sears when it was the largest retailer in the US.

Discover recently became an independent company.

The first Discovery cards have a picture of the Tower of Sears on the front;

MasterCard and Visa have teamed up against Discover Card, but their case has failed.

Discover Card later returned and sued both companies.

American Express

One of the most reputable credit cards you can own is not your credit card at all.

AmEx is truly a shipping company for many years, providing their services to banks and other financial institutions.

The company underwent many changes to become what it is today.

Next time you pull out your card, know that the Expressman on the front is an emblem for one of the first shipping companies in America.