Credit cards were introduced in 1949 by Diners Club as a way to consolidate debt for frequent diners
They also reduced accounting burden for businesses
They are a means by which we develop an important part of our identity
Early controls imposed by the merchant
Credit relationships strengthened by legislation
1970 Truth in Lending Act mandated disclosure of credit terms and limited liability
II. Where did it come from?
americanhistory.si.edu/dynamic/images/collections_large/NMAH1998-01263_225px.jpg
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