Change of attitude, the credit in the changing economic

The first credit card appeared in boom times, the stock market crash of 1929. The second wave of the industrial revolution in the nation's factories to make a significant economic changes in the proportion of the population decline in agricultural employment. This change of emphasis in the economy meant that enjoy the Gilded Age, the capitalists and investors recession, new opportunities - will eventually lead to greater prosperityThe entire community.

The industrial revolution has made a significant contribution to a wide range of electronic consumer products are now widely used. Not surprisingly, precisely at this time is that the establishment of the earliest forms of credit assistance to the consumer's ability and desire to purchase new products.

The earliest example of the credit card is the famous shopping paradise, usually in charge of a metal plate card business. The main differences between these cardsToday's credit card bill that is outstanding is expected to be paid in full at the end of this month. A group of smart cards for the first time in the 20th century, but until the 20th century, 20 years, their use expanded to more than the rise of the automobile industry, and causing a direct result of a number of gas stations on pay cards, the use of passengers across the country.

30 years in the 20th century, a number of dealers to compare the "cycle of credit used in the formation of a system" with the mapOwners can balance of payments, but over time the amount of new Osama bin Laden - the cost and credit card between - and one that today there were major differences between the retail agreement. In the revolving credit facility from a large department store will be extended for 4 months of the repayment period of the first step, although not afford to buy any outstanding bills of credit paid in full. True revolving credit facility, will not appear in courtThe 20th century, 40's, when department stores started to develop, together with their membership cards had.

With the popularity of credit cards is a change in the attitude of the U.S. debt. Rather than blame the issues are very important and necessary to facilitate the luxury of saving, it is culturally acceptable to the people who matter the debt, they want to go, but necessary.

Despite efforts to reduce consumption of the establishment of the United StatesNot an incredible amount of goods actually on the market. Consumption and debt toward the new attitude prevailed, and by the 20th century, 50 years the advent of the modern credit card to prove this point. From the bank credit cards, such as the annual fees and interest on the new features after the First National Bank issued credit card, will be in 1966 and 1976 years later, renamed, visas throughout the world use today. MasterCard also in this period, was first introducedAppearance in 1980.

The credit history is closely intertwined with changes in the economy and from an agricultural society into a consumer spending. Of course, the credit card business has enormous influence and private life have been with more people, than it is now the issue is so important that they should be unprecedented.