Edward Bellamy, Inventor Of The Credit Card

The Diner’s Club Card sparked what we now think of as the modern-day credit card. Customers were able to make purchases at different locations and businesses and were no longer limited to what they could purchase. Although it was not until 1958 when Bank of America came out with its BankAmericard that we saw an all purpose credit card; the true credit for the invention of the credit card rests with Frank McNamara and the Diner’s Club. Today it seems as if everyone carries a credit card and as Alfred Bloomingdale predicted in 1960, “there will be only two classes of people—those with credit cards and those who can’t get them.”

Meet the Inventor of the Credit Card Strip

The Diner’s Club Card sparked what we now think of as the modern-day credit card. Customers were able to make purchases at different locations and businesses and were no longer limited to what they could purchase. Although it was not until 1958 when Bank of America came out with its BankAmericard that we saw an all purpose credit card; the true credit for the invention of the credit card rests with Frank McNamara and the Diner’s Club. Today it seems as if everyone carries a credit card and as Alfred Bloomingdale predicted in 1960, “there will be only two classes of people—those with credit cards and those who can’t get them.”


Edward Bellamy, Inventor Of The Credit Card - The Simple Dollar

Fact or Fiction: Inventor of Credit Cards Died Penniless

Do you know who the inventor of a credit card? He is , a businessman who is known as a prominent founder of the credit card.

In 1950, worked with a businessman named Ralph Schneider to issue credit cards first. The card was given the name of Diners Club. This card is the first credit card is considered valid as a means of payment. Only, the use of credit cards is limited only to eat, not for shopping, as the word itself Diner, which means "dinner".




When first launched, Diners Club has 200 customers and was accepted in 27 restaurants. Within a year, 20 thousand people have become customers. Diners Club is not only valid in New York, but extends to other cities in the United States, such as Miami, Chicago, Boston, Los Angeles, and San Francisco.

In 1952, Diners Club spread throughout the country in the world. In 1973, Diners Club entry into Indonesia. Now, the growing credit card. Type and utilization also varied, including Diners Club, American Express, Discover, Master Card, Visa, and BCA Card.