June 26, 2019 / By Brittany
Question: So, today, I have to do this report about credit card, I don't know a lot about it and I don't know how to write it. So please help me. This is what you need to include in the report. - When was the credit card invented - Who invented it? - Where was it invented? - How did credit card changed our lives? - What will be our life like without it? - What is the purpose for it? Please help me
Best Answer


Alisha Alisha | 6 days ago
http://inventors.about.com/od/cstartinve... Credit is a method of selling goods or services without the buyer having cash in hand. A credit card is only an automatic way of offering credit to a consumer. Today, every credit card carries an identifying number that speeds shopping transactions. Imagine what a credit purchase would be like without it, the sales person would have to record your identity, billing address, and terms of repayment. According to Encyclopedia Britannica, "the use of credit cards originated in the United States during the 1920s, when individual firms, such as oil companies and hotel chains, began issuing them to customers." However, references to credit cards have been made as far back as 1890 in Europe. Early credit cards involved sales directly between the merchant offering the credit and credit card, and that merchant's customer. Around 1938, companies started to accept each other's cards. Today, credit cards allow you to make purchases with countless third parties. The Shape of Credit Cards Credit cards were not always been made of plastic. There have been credit tokens made from metal coins, metal plates, and celluloid, metal, fiber, paper, and now mostly plastic cards. First Bank Credit Card The inventor of the first bank issued credit card was John Biggins of the Flatbush National Bank of Brooklyn in New York. In 1946, Biggins invented the "Charge-It" program between bank customers and local merchants. Merchants could deposit sales slips into the bank and the bank billed the customer who used the card. Diners Club Credit Card In 1950, the Diners Club issued their credit card in the United States. The Diners Club credit card was invented by Diners' Club founder Frank McNamara and it was intended to pay restaurant bills. A customer could eat without cash at any restaurant that would accept Diners' Club credit cards. Diners' Club would pay the restaurant and the credit card holder would repay Diners' Club. The Diners Club card was at first technically a charge card rather than a credit card since the customer had to repay the entire amount when billed by Diners Club. American Express issued their first credit card in 1958. Bank of America issued the BankAmericard (now Visa) bank credit card later in 1958. The Popularity of Credit Cards Credit cards were first promoted to traveling salesmen (more common in that era) for use on the road. By the early 1960s, more companies offered credit cards, advertising them as a time-saving device rather than a form of credit. American Express and MasterCard became huge successes overnight. By the mid-'70s, the U.S. Congress begin regulating the credit card industry by banning such practices as the mass mailing of active credit cards to those who had not requested them. However, not all regulations have been as consumer friendly. In 1996, the U.S. Supreme Court in Smiley vs. Citibank lifted restrictions on the amount of late penalty fees a credit card company could charge. Deregulation has also allowed very high interest rates to be charged.
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Alisha Originally Answered: If the deadline for my application is tomorrow, can I mail my transcript tomorrow?
Deadline means deadline. If it could be mailed tomorrow they would tell you that tomorrow's date is the "postmaked by" date. You might want to have the application overnighted, or submit it online. But your transcripts, test scores, and all of your recommendation letters have to be in by the deadline as well.

Uni Uni
If you can't even Wikipedia search "Credit Card" you deserve to fail, sorry. Homework might be boring, but you'll regret being a lazy bastard in the future.
👍 90 | 👎 -1

Ritchie Ritchie
- 1776 - Benjamin Franklin - Philadelphia - It ruined people, forcing them to spend money they didn't have and pay the amount back with interest. - Better - To allow banks to profit from high interest rates and low minimum payments.
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Methuselah Methuselah
I don't want this to sound rude but... DO YOUR OWN HOMEWORK!! U can easily look these things up and write them down, it's that simple!
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Methuselah Originally Answered: *HELP PLEASE* I have to take the ACT tomorrow?
I've been in this exact same situation when the Testing Centre told me that the following day was the last possible testing day for the Autumn semester. I took it, got a decent score and was admitted as full-time student to that university. So it IS possible! You will be tested on various subjects, including English, Math, Science and History (if I recall correctly). The test is not like the various matriculation exams found in Europe and elsewhere where you must remember detailed knowledge from your entire high school course. Instead you will be tested on your ability to comprehend what you read, think logically and solve mathematical problems. It is a generalist test which builds upon things you should have encountered in high school (in particular general concepts and problem-solving skills). To a certain degree it also tests your intelligence (you are given logical problems to solve of varying degrees of difficulty). Get used to this type of test! You will encounter similar tests throughout your various degrees of university education and even when seeking certain types of employment. Since you have so little time you should do the following (though pulling an all-nighter is not recommended if you want the best results): 1) Identify your strengths and weaknesses (Are you good at math and do you know how to solve complex problems? Do you know alot about numbers and their properties? Are you excellent at grammar and finding spelling or grammtical errors? Are you good at logic and intelligence tests?) 2) Work for some hours on subjects in which you are very weak or rusty (look at old ACT questions online or in a booklet if you have one). And remember, nowadays there are instructional videos on Youtube and all over the place! Watch some of them! 3) Get enough sleep and eat a light but decent breakfast before you test. The last thing you should do before going out the door is drink a full glass of orange juice (helps the brain). And remember glasses or other aids. 4) Do not expect top results in this situation (unless of course you are a latent genius just waiting to be discovered at the Testing Centre). Remember: It's not the end of the world, but do our best and enjoy the interesting experience!

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