Methods Of Credit In The 1800's And Today

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In the 1800’s the methods of credit were somewhat different than what we have today. They used credit coins and charge plates. The first credit coin was issued in 1865, was made of plastic and usually had the costumers’ identification number on the back, and they were accepted at most company stores. However charge plates were also an alternative payment form, they were about the size of a dog tag, and had the customer’s name and home address on them, and were also accepted by many department stores and oil companies. In the 1960’s these methods started to become a thing of the past, more people started using cash, and would later be introduced to a new form of credit. Today we have many options to make purchases. We can use a credit card,debit,or cash. There are security advantages of carrying a card instead of cash,because they are protected by your signature, and a pin number selected by you, however cash is only protected by your ability to defend it.Carrying cash for smaller purchases may be more convenient, however for a larger purchase, such as a computer or a car should not be carried. A Dunn and Bradstreet study found people…show more content…
McDonalds also found the average transaction rose from 4.50 to 7.00 when customers made a purchase with a card.Cash is money you have already earned, where as making cash advances will only incurre

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