how to get a credit score

Edward Ballamy first introduced the world to the idea of the "credit card" in his 1887 novel, Looking Backward.

It was however, first used as a way of selling gas to an ever-increasing number of vehicle owners in the United States of America in the 1920s. These cards were initially known as charge cards and in time various companies allowed the use of different cards. In the early days it was quite easy to falsify a credit card, as a number of these cards were printed onto a type of card, and not plastic like they are today.

During the 1930s and 1940s another form of the credit card occurred. It was known as the Charga-Plate and was made of a fairly small piece of metal, which had the owners name, city of residence, and the state in which that person lived imprinted into it. It also contained a small piece of card for a signature. Only the large retailers made use of these, and they were only issued to their everyday clients. Most often, the Charga-Plates were kept at the store.

When Ralph Schneider and Frank X. McNamara established Diners Club in 1950, they created a unique card. Unlike other credit cards, the Diners Club card gave people the freedom to use one card instead of multiple cards. Also, while you can pay only a portion of your bill on other credit cards, the Diners Club has to be paid in full each and every month.

The next card to come along was Carte Blanche and then American Express in 1958. American Express led to the creation of a global credit card system. The Visa system also came into existence in 1958 via Bank of Americas Bank Americard. MasterCard came into the world in 1966 and it was first known as MasterCharge.

The US bank system made it possible for people traveling to use credit cards in various places across the country, since they could not access their home banks.

In 1966, the first credit card was released in the UK. The credit card system was not accepted by other countries. Reasons cited for not wanting to use credit cards included bank reliability or a preference to use cash.

Credit cards are now being tested that have a microchip implanted to reduce fraud. Another type of credit card being tested is the Affinity Card. This is a co-sponsored card by the issuer and an organization that carry certain features such as discounts or cash back.

Usually,when your earning increases you are more able to return debt of your credit card which ultimately lead you to increase use of the credit card.

how to get a credit score

howto get a credit score

Jason Asthworth is the content syndicator for applyforvisacreditcardnow.com the leading resource credit cards and applying for a visa credit card.

how to get a credit score: howto get a credit score

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