The first credit card was created, as you would guess, due to an embarrassing situation faced by Frank McNamara, while eating out at a restaurant. When the check arrived, he realized, he did not brought his wallet. This gave birth to Diner’s Credit Card.
Then came the BankAmericard from Bank of America. The earlier versions were flimsier and hence American Express came up with first real plastic credit cards.
Then came the credit cards with all its variants since various players saw a great business opportunity.
Check out the The Big Money for the entire pictorial history of credit card.
Another interesting video that presents how the American credit card industry became so pervasive, so lucrative, and so powerful.
This is a video from Frontline - “Secret History of the Credit Card (2004)”.
I could not find the history of credit cards in India, but it looks like that Central Bank of India, launched the first credit card in India called “Centralcard” in the year 1980.
It would be interesting to know if we can get hold of the picture of the first credit card that was launched in India. Anyone?
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