The first credit card was launched sometime in the late 50s. It was meant for an exclusive set of people and was a status symbol. Thus came the term Diners, which was meant for people to use at a select set of exclusive restaurants.
Today cards have become a part of daily life for everybody. They have revolutionized the way people transact. One no longer needs to carry bundles of currency bills or worry about the bank being closed on the weekend. Neither does one need and ID to be able to withdraw cash. You also don’t need a letter of credit form your bank to get foreign currency.
Credit cards and later debit cards have added a lot of convenience to the shopping experience or any other transaction. Using these cards, one can actually transact while sitting in the comfort of one’s home via the Internet. And if you are travelling abroad, your card is sufficient and you needn’t even bother about buying foreign exchange.
To read more about this revolution, click here
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