In this age, it may be absurd to give an introduction to credit cards and the purposes they serve. These little plastic cards are so entwined with our daily lives today that the thought of going to a bank to withdraw money may sound archaic. This development, of course, is not without reason. Be it the safety of carrying real money, the hassle of carrying money, having ready money available for impulse buying or simply spending your tomorrow’s earnings today, credit cards play an important role.
The first credit card can be traced back to the year 1949, when Frank X McNamara, head of the Hamilton Credit Corporation, went out to dine with his long-time friend Alfred Bloomingdale, grandson of the founder of the Bloomingdale's store, and Ralph Sneider, McNamara's attorney. They were to discuss some issues that Frank was facing with one of his customers. On completion of the meal, McNamara reached for his wallet to pay the bill. To his utter shock and mortification, he found that he had forgotten his wallet. He then had to ask his wife to bring some cash. He then vowed that this would never happen. He then came up with a novel idea, that of a single card that would allow one to pay for any services or goods at multiple locations. A new company called Diners Club was established. Diners Club was to act as a middleman, offering credit to individuals to pay for their purchases. It would then bill the customers and pay the companies from where the purchases are made.
Credit cards have come a long way since then. These days, there are a variety of credit cards offered. Several companies such as Visa, American Express, MasterCard etc offer a variety of cards such as balance transfer cards; cash back cards, rewards cards, and more. One can select an appropriate card based on the need and requirements. For instance, those who wish to carry forward a balance each month, the ideal card is one that offers a low interest. One may also opt for a card offering 0% APR, or no interest, for an introductory period.
For frequent travelers, a rewards card is the best option. Such cards offer points on every dollar spent. These points in turn can earn a free trip or a free night’s stay in a hotel. With rewards cards however, it is advised that one pays off the bill each month to avoid high interest rates. For the frequent shopper, a cash back card is what is needed. These cards allow one to earn cash back on every purchase made. For the diehard shopper it is like being paid to shop!
CreditCardCity.com is a one-stop shop for consumer and business credit cards. It offers a variety of credit cards from a number of providers such as Discover, Capital One, Citibank, American Express etc. One can compare and select the card that is most suited to his or her need. It also provides latest news and information about credit cards and related products and services. One can learn more about the latest card trends, special offers and promotions available from the card industry. One can apply for a credit card using this secured site.