First Credit Card

I remember I was eighteen years old when I first used the credit card and of course I was just a supplementary cardholder. After finishing college I was hired by a private company and after a few months I got my first credit card. Today, most people buy things using their credit card more often than cash. They do not have to pay in cash as the amount of the transaction is charged direct to their bank account or they pay part or all of the outstanding bill.

Shortly after the First World War, petrol companies in the USA began to issue such cards which allowed people to get petrol without having to pay for it at the time. After the Second World War, this idea spread to hotels and department stores, which began issuing their own cards. The first credit card to cover all types of purchases was Diners Club, which dates back to the early 1950s.

When was you first use your credit card? Do you often use credit card than paying in cash?

2 comments:

Cashmere said...

Ever since I got a credit card, I've been using it every time. I just find it convenient plus you get points too... :) I think it's safe to rely on cc only if you know your spending limits.. It could be dangerous otherwise..

MakingMoney said...

Got my first one at 18 as well and I was naive with it spending away with it not realizing the value of credit until I got older. Every since I cleared up the negative and improved my credit throughout the years I rarely use credit cards. They come in handy for travel and vacation though other than then I rarely charge anything else.

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