That piece of plastic (or metal) in your pocket or purse has been a long time in the making. Here are a few major milestones in the evolution of the modern credit card.
After realizing he couldn’t pay back his outrageous film school student loans with rejection notices from Hollywood studios, Sean focused his screenwriting skills on scripting corporate videos. Videos led to marketing communications, which led to articles and, before he knew it, Sean was making a living as a writer. He continues to do so today by leveraging his expertise in credit, financial planning, wealth-building, and living your best life for Credit One Bank.
The year was 1899. The Great Blizzard of 1899 hit America with snow, ice, and bitter temperatures falling as far south as Florida. Gold discovered in Nome, Alaska, kicked off the Klondike Gold Rush. In the White House, President William McKinley continued to deal with the Spanish-American War.
As credit scores have become more available and accessible, consumer interest in them has grown—but so has consumer confusion. Most people don’t understand the differences between credit scores, and many don’t know the difference between credit scores and credit reports. Throw in credit reporting agencies, and it gets even more confusing.
Credit cards can increase your purchasing power. Just one credit card can give card members a convenient way to buy big-ticket items, cover emergency expenses, and pay for vacations without tapping into their checking or savings accounts. Multiply that power by three, and it might seem excessive. But not to everyone.