Credit Card Chronology Essay

498 WordsOct 27, 20092 Pages
Credit Card Chronology (135 1958 First Card Paper Smith): Originally made of paper, the first American Express Credit Card was purple, consistent with the design of the American Express Travelers Cheques. This Card had an annual fee of $6 and was positioned as a premium product. (135 1959 First Plastic Card): The introduction of the plastic card was an industry first. This card was les vulnerable to fake reproductions and processed charges faster with the introduction of the embossing machines. (135 1968 Gold Card Ad): Now called the Gold Card, the Executive Credit Card was launched in 1966. (136 1963 personal card): To instill customer loyalty, “Member Since” was first printed on the card commemorating the year a cardmember joined American Express. (137 1969 Green Card Frost): This card’s redesign emphasized the centurion and the color was changed to green. Technically, it was never a credit card at all, but a charge card that had to be paid in full each month. (137 1984 Platinum Card): American Express launched the platinum card in 1984, and offered it – by invitation- to cardmembers with at least two year’s tenure, significant American Express spending and excellent payment histories. (192 Credit Card): 1995 American Express Credit Card introduced in international markets. (192 1995 Hilton Optima Card): 1995 Hilton Optima Card. (192 Delta Sky Miles Credit Card): 1996 Delta SkyMiles Credit Card. (193 1999 A Blue Card): 1999 Blue Card. (193 1999 Centurion Card): 1999 Centurion Card. Evolution of the Original Card The concept of using a card for purchases was first described in 1887 by author Edward Bellamy, in his utopian novel Looking Backward. Bellamy used the term ‘credit card’ eleven times in this novel. The modern credit card was the successor of a variety of merchant credit

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