A fascinating read.
http://www.aboutnewbern.com/card.htm
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It is reported that Western Union was issuing a metal credit card to their preferred customers in 1914 which was referred to as "Metal Money". Pullman had issued credit cards to select customers who regularly traveled their trains from coast to coast. As early as the 1930's a number of department stores were issuing charge plates and plastic credit cards.
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It appears to be true.
http://www.collegejournal.com/researchindustries/researchindustries/financialservices-v.html
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The credit card traces its roots back to 1914 when Western Union began doling out metal cards, called “metal money,” which gave preferred customers interest-free, deferred-payment privileges. Ten years later, General Petroleum Corporation issued the first metal money for gasoline and automotive services, and by the late 1930s, department stores, communication companies, travel and delivery companies had all began to introduce such cards. Then, companies issued the cards, processed the transactions and collected the debts from the customer. The popularity of these cards grew until the beginning of World War II, when “Regulation W” restricted the use of cards, and as a result, stalled their growth.
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Message Edited by Noah_Bodie on
09-07-2007 04:00 PM
