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Essay text:
which could be used at a variety of stores and businesses, was introduced by Diners Club, Inc. in 1950. Diners Club issued the first credit card to 200 customers who could use it at 27 restaurants in New York. It charged cardholders an annual fee and billed them on a monthly or yearly basis. The American Express Company established another major universal card in 1958.
The first national bank plan was BankAmericard, which was started on a statewide basis in 1959 by the Bank of America in California. This system was licensed in other states starting in 1966, and was renamed Visa in 1976.
Other major bankcards followed, including MasterCard, formerly Master Charge...
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