I’m old enough to know when credit cards first came out for the masses.
I had a feeling it was a bad idea. So convenient, no need to go to the bank to withdraw cash. And there were no ATMs, so bank had to be open. So much waiting, ohhhh noooo.
Mass credit card debt and stress for impulsive young people.
Before credit cards you could buy an item on “layaway,” pay small amounts and then you could get the item... made you save up for it, delay gratification.
Tracking purchases, who hasn’t known this for years?
I chatted with a someone once who worked in a bank... 1980s .he predicted cash would be gone by the year 2000. I disagreed, saying people won’t give up their cash any more than they will give up their guns. Cash insures privacy. So far I’m right.
I too remember the first emergence of credit cards. Back then it was super-embarrassing to use them to buy something because they knew you were poor and couldn't afford it so had to buy on credit. I hated it.
Somewhere on the internet there is an old documentary "The secret history of the credit card" where it explains exactly how it all started in Sioux Falls, USA.
I’m old enough to know when credit cards first came out for the masses.
I had a feeling it was a bad idea. So convenient, no need to go to the bank to withdraw cash. And there were no ATMs, so bank had to be open. So much waiting, ohhhh noooo.
Mass credit card debt and stress for impulsive young people.
Before credit cards you could buy an item on “layaway,” pay small amounts and then you could get the item... made you save up for it, delay gratification.
Tracking purchases, who hasn’t known this for years?
I chatted with a someone once who worked in a bank... 1980s .he predicted cash would be gone by the year 2000. I disagreed, saying people won’t give up their cash any more than they will give up their guns. Cash insures privacy. So far I’m right.
I too remember the first emergence of credit cards. Back then it was super-embarrassing to use them to buy something because they knew you were poor and couldn't afford it so had to buy on credit. I hated it.
Somewhere on the internet there is an old documentary "The secret history of the credit card" where it explains exactly how it all started in Sioux Falls, USA.