Publish Date: in Fun facts
The history of the invention of the credit card similar to many invention stories came about from a real-world need. It all started over dinner in 1950 attended by Frank McNamara where he was entertaining an important client and came to the embarrassing realization that he didn’t have the cash to pay for the dinner. Hurriedly he called his wife to send him some money to pay, and at that moment the idea was born. Why can’t one have a card to use in certain restaurants and shops to pay for goods and settle the bill at the end of the month and with that the first credit card was born “Diners Club” in New York City.
The first credit card was born “Diners Club” in New York City.
The credit card first came to Egypt in 1990 when it was introduced by Banque Misr which was quickly followed by the National Bank of Egypt and Banque Du Caire.
A credit card is a payment card with a linked loan that allows you to purchase items without the use of physical paper money (cash) in the form of a short term loan.
You can apply now online to Credit Card with Faydety.