Have you ever looked at your card and wondered when the first credit card was issued? Or why you get a new credit card every 3 years? Well now that we have mentioned it you probably are. Here are some interesting facts about credit cards you may have not known.
- The first credit card was issued by the Diners club in 1950. The card was accepted at only 14 restaurants in New York but within a year more than 20 000 people had a credit card.
- The first general credit cards were made from paper and had a limit of $300. That paper must have looked a little worn out after a few transactions!
- The reason credit cards expire is because the magnetic strip gets a lot of abuse and needs to be replaced. A magnetic strip can only handle about 3-4 years of swiping. And of course, your Virgin Money Credit Card should always look its best!
- How many transactions do you think happen around the world every second? 2 000? 5 000? Try 10 000!
- MasterCard was initially named Master Charge. It changed its name in 1979
- American Express cards start with 34 or 37. VISA cards start with a 4. MasterCards start with numbers ranging from 51 through 55, and Discover Cards start with 6011. What's your number?
- All credit cards everywhere are the same size: 85.60 mm x 53.98 mm. Talk about uniformity. But ours look the best of course! Look out for our new card designs coming soon.
See there is more to your credit card than meets the eye. For more information on The Virgin Money Credit Card and how you can get yours call us on 0861822273.
Sourced from RandomHistory.com - interesting facts about credit cards