5. During the 1950s "buying on time“ (Using Credit) —paying for a large purchase in monthly
payments—became acceptable as a regular practice, not just in time of need.
Americans used credit to purchase new cars, electronic equipment, household goods, and
appliances at a record pace.
It was 1950 the original Diners Club card (Very 1st
Credit Card) was pasteboard with the
customer's name on one side and a list of the twenty seven restaurants that accepted it on the
other.
The first plastic cards came out in 1955 creating a whole new way of monetary exchange.
American Express began issuing cards in 1958 followed by The Bank of America and their
BankAmericard.
Other smaller banks joined the BankAmericard system and the system continued to grow. In
1977 the card underwent a name change and became Visa.
By the 1990's Visa was the largest credit card in use with nearly 400 million cards in circulation
and more than 12 million businesses that accepted it.
6. The workforce shifted back to men, and most women returned to
family responsibilities
