How Credit Cards Were Invented

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  • Опубликовано: 26 сен 2024
  • Delve into the captivating story of the world's first credit card.
    From its origins as a cardboard credit card to the multi-billion dollar industry it is today, we delve into the story of how credit cards became an integral part of our lives. Join us as we discuss the forgotten wallet that led to the first credit card, the challenges that faced early credit card companies, and the innovations that have made credit cards ubiquitous. We also take a look at the impact credit cards have had on our world and how they continue to shape our economy. So sit back, relax, and join us for this Five Minute Finance video on the world's first credit card.
    Music:
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Комментарии • 31

  • @joehooper1145
    @joehooper1145 Год назад +39

    So they were invented because someone couldn’t pay their tab… now here we are, 70 years later and 30+ trillion dollars in debt… that went well

    • @tommyfu9271
      @tommyfu9271 24 дня назад +2

      they obviously would have happened anyway.

    • @staffie1uk
      @staffie1uk 10 дней назад +2

      It went very well for the banks

  • @dieseldragon6756
    @dieseldragon6756 Месяц назад +4

    Excellent video here, and thankyou! I may have performed one of the last ever _Imprinted_ credit card transactions in the UK a few years ago when a power outage hit a certain Welsh theme park just as I was needing to make payment for something. Thankfully my issuer still issues embossed cards, so as soon as the imprinter (Buried under an inch thick layer of dust) came out I knew _exactly_ what to do. 💳🖊👍
    You should've seen the faces of everybody in that room who was under 40. They genuinely didn't understand what it was they were witnessing! 😁

  • @aleksandarmelovic2819
    @aleksandarmelovic2819 8 дней назад

    I rarely leave the comments, but this video is great! Very informative, useful, interesting. Thank you!

  • @sugarbelle1981
    @sugarbelle1981 Год назад +5

    I’m not one to leave comments but this is the 2nd video of yours I’ve watched and I gotta say you do an excellent job setting up videos. Structure, visuals and the information are perfect. Interesting, informative and to the point. Now excuse me while I binge watch the rest of your videos. #subscribed

  • @raphaelcaiton9671
    @raphaelcaiton9671 25 дней назад

    How does this not have more views? This video is just incredibly made, keep up the good work!

  • @Jhamuraa
    @Jhamuraa Год назад +5

    Man this channel is a gem and so fun

  • @bayan02juma
    @bayan02juma 2 месяца назад

    I rarely comment, but Great video! Very informative

  • @willman85
    @willman85 3 месяца назад +4

    I didn't know credit card companies had computers back in the '50s.

    • @dieseldragon6756
      @dieseldragon6756 Месяц назад

      If you look a bit deeper into banking history, you'll find that banks have employed computers in some form (Whether relateable electronic ones from the 1970s onward, or entirely mechanical types common in the 1920s-60s) for over a century. Prior to the invention of _mechanical_ computers, the word was also the professional title for commercial analysts and mathematicians whose job it was to _mentally_ process the things we use electronic computers for today! 😇
      Back in the 1950s electronic/mechanical computers tended to occupy entire rooms and floors of office buildings (Look into IBM history from the time) but despite the huge space-take and power consumption, the access to automation these offered made them a worthwhile investment even back then. 🏦

  • @_RA108
    @_RA108 22 дня назад

    Now Bharat UPI is creating ripples & shock waves in credit card world

  • @microsd4294
    @microsd4294 Год назад +1

    Could you do a video on Student Loans?

  • @DavidDrake-fw2ev
    @DavidDrake-fw2ev 2 месяца назад

    Does anyone know which agency regulates and oversees the processing of Visa, MasterCard, Discover, etcetera electronic payment transactions in the US? Thank you for your help.

    • @schm147
      @schm147 Месяц назад +1

      Consumer Financial Protection Bureau

  • @d947
    @d947 Месяц назад

    Very interesting to learn about this history! Thank you :)

  • @bluesea2023
    @bluesea2023 26 дней назад

    Of course, in Fargo 4, the credit card was invented by Chris Rock

  • @kbtred51
    @kbtred51 25 дней назад

    You need to learn about charge cards - they were a convenience not a form of lending.

  • @kianathomas8691
    @kianathomas8691 4 месяца назад

    a lot of stores you just needed your id or to know your numbers. or and.

  • @hayathayat-t1b
    @hayathayat-t1b 2 месяца назад

    the credit card 74 years old.

  • @ownerlaptop1169
    @ownerlaptop1169 6 месяцев назад

    Fargo tried to erase and replace this mam from history

  • @ithacacomments4811
    @ithacacomments4811 2 месяца назад +3

    Credit Cards=Legalized Loan Sharking...think about it!

    • @dong_jun
      @dong_jun 2 месяца назад +2

      Not if you manage your credits well. 😊

    • @Rehunauris
      @Rehunauris 29 дней назад +1

      It's free loan if you pay what you own every month.

    • @tommyfu9271
      @tommyfu9271 24 дня назад

      i've never paid a single cent in interest and i've gotten a lot of money through whoring credit card signup bonuses. if you get bent over on interest you're doing it wrong.

  • @rjackstheartofwealth6152
    @rjackstheartofwealth6152 5 месяцев назад +1

    trsh vid, way too much filler

    • @schm147
      @schm147 Месяц назад +3

      Not as trash as your spelling. This video perfectly explained the entire history of credit cards in only 8 minutes. And the guy didn't yell at the camera like every other RUclipsr does.