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When were credit cards invented?
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Yahoo Finance
Below is a brief timeline of credit card history:Early 1900s: The first credit cards are introducedThe first credit cards were launched in the early 1900s by department stores and oil companies.
However, these cards are more similar to today's store cards than traditional credit cards because they could only be used at specific stores.
1950s: Charge cards are launchedCredit cards that function like store cards gained popularity, particularly cards issued by department stores and restaurants.
The Unsolicited Credit Card Act of 1970 prohibited companies from sending active credit cards to pre-approved candidates who didn't apply for them.
1980s: Credit cards offer rewardsUntil the 1980s, credit cards were simple; they were a way to purchase items with a revolving line of credit, but that was their only function.