Birth of the Credit Card

UK Financial options blog has written an interesting post about the birth of credit card. Here is how he does..

Almost a half century ago, the UK experienced the birth of one of the most influential pieces of plastic in existence today. Yes, it’s true, that slim piece of plastic, which is found in almost everyone’s pocket, the credit card, began way back in the 1960’s. It’s amazing the revolutions that have occurred in less than 50 years. Today, most of us can not survive without our credit cards. They have become that much of an ingrained part of ourselves.

Did you realise that in the UK, our credit card ‘history’ was borne via the Barclaycard? At that time, the Barclaycard was little more than a charge card, meaning that the entire balance had to be paid, 100% every single month. Today, people would scoff at it’s measly maximum limit of £100. These days, you can find a credit card with absolutely no limit, though these ’super’ cards, are limited to only the very wealthy!

Our credit cards of today, can be found with a credit limit, and applicable requirements, for people from all walks of life. Regardless of whether you’re Mr. Or Mrs. Beckham, or a low income fish and chips worker. There are well over 1400 different credit cards available in the UK today. Certainly there is a card for almost anyone.

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