Today so many of us have secured and unsecured credit cards, credit cards with cash back and benefits, 0% APR credit cards and what not. I am sure you think that you know all you need about them, but you have no idea how exciting is their history and how many interesting facts are connected with credit card offers.

The word ‘credit' comes from Latin, it means trust. Credit was first issued 3000 years ago in Babylon and Egypt.

In 1730 Christopher Thomson offered the first advertisement for credit. He was advertising furniture that could be paid off weekly.

Credit was also used from the 18^th to the beginning of the 20^th century, when tallymen were selling cloths in return for weekly payments. These people were called ‘tallymen' not by chance. Even at that time they were keeping ‘a credit record'-also called tally.

They were doing it with a simple stick. On the one part of the stick they marked the amount of debt, on the other-the amount of payment. So, even 3 centuries ago there were people with good and bad credit history!

 In 1950 American Express and Dining Club introduced to two hundred privileged customers their first credit cards. Credit card owners could use them in 27 restaurants in New York.

But it was only after inventing the magnetic stripe, when a credit card has become a great part of the information age. It took place in the early 1960's thanks to London Transit Authority.

In the 1970, already 51% of Americans were credit card owners. Nowadays, this figure has risen to 93%.  Today, the average American has 8 credit cards and owes 9.695$ on them.

You know that many people search for the best credit card offers for different reasons, but the main one, according to the statistic- is paying for food and rent. 1/3 of average American families go into credit to pay for food and rent. And only 55 million pay balance in full each month.

Unfortunately, if you are not paying on time, credit companies can raise a credit interest. It is sad, but true, nearly 1/3 of bankrupts owe their year salary on the credit cards.

So, now you understand that credit cards have much longer history and they were not made right away with cash back and rewards! The credit card market is overloaded with cards now, but it took long time for them to invade the market. People had to work hard to be privileged enough to get a credit card. You should too. We all have to remember now, that credit means trust! Trust in your bank and credit company and what is more important-trust in yourself!

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