When the credit card was introduced in 1950, the American public was already well acquainted with buying on credit, through personal loans and store credit accounts. But the introduction of the Diners Club card, the first modern charge card, made spending even more convenient: Customers could use their club cards at a variety of restaurants, and pay the balance at the end of the month. A cashless approach to consumption began. By the end of the ’50s, most Americans had embraced the concept of buying now and paying later. In 1958, the Bank of America ...Read More