credit card interest rate cost Americans

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In the 1970s, the US Congress began to regulate the credit card industry. Among other things regulated and banned, it prohibited companies from sending credit cards to people who did not request credit cards.

The payment plates or the Charga-Plates were the first prepaid credit cards. It was used until the early 1960s. It was made of aluminum or white metal plates and was the size of a soldier’s tag. On the back, there was a cardboard attachment with the name of the card issuer and the signatures of the cardholder. Sometimes he was hiding in stores and brought by an officer when the owner wanted to use them

The payment coins, which were a pre-credit card, were first issued in 1865. First, they were made of celluloid, a type of plastic. It is then made of metals such as copper, aluminum, steel or iron.

They were worth a quarter to half a dollar. Some of them had triangles or other unique shapes. It was predominantly given to people by shops.
In 2015, only a 1% credit card interest rate cost Americans $ 7.6 billion per year.

credit-card-number-information

Around 10,000 credit card transactions are made worldwide every second.
In the US, there are approximately 1.4 billion credit cards in circulation.

 










In 2012, US $ 4.9 billion was sent to credit card holders.
Credit cards are used in the US more than 20 billion times in just one year.
If all credit cards in the US are stacked on top of each other, a 460 km high tower can be created.










In 1958, the Bank of America introduced its first general purpose credit card. They sent 60,000 BankAmericard credit cards to residents of Fresno, California. By 1959, more than 2 million cards were canceled. 1 out of 5 credit card accounts has been delayed and credit card fraud has become widespread. The bank lost $ 8.8 million due to this project.










Under US Federal law, the maximum liability of the person concerned with unauthorized credit card is $ 50 per card, and the person does not pay any money for any subsequent charges incurred in the event of card loss or theft.


The first credit card hologram was issued by MasterCard in 1983 to prevent counterfeit credit cards.










MasterCard was originally issued as MasterCharge and changed its name in 1979.


















The first company to use a credit card made of plastic was American Express in 1959 (previous cards made of cardboard or celluloid). The same company also issued the first cards made of anodized titanium (Centurion Card or “Black Card”).

















issued as MasterCharge and changed its name in 1979.
The first company to use a credit card made of plastic was American Express in 1959 (previous cards made of cardboard or celluloid).

















The same company also issued the first cards made of anodized titanium (Centurion Card or “Black Card”).

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