From barter system to paper money to debit and credit cards, we have come a long way.
Cash is dying and credit or debit cards are everywhere. They are easy to carry and have no issues of misuse, if stolen because they are password protected.
Credit cards is in use since the 1950s while debit cards came in the mid-1970s is a boon for those who keeps on losing cash all the time.
This is now you know and today in this video we have come to tell you how credit and debit cards have been revolutionary. Here we are with some interesting facts about plastic money.
1. paper made credit cards
The first general credit cards did not come in plastic but were made from paper and they had a limit of $300.
2. you have to be married to issue credit cards
until 1974, unmarried women in the US couldn't get a credit card and to issue one, husbands had to co-sign their wives' applications.
3. they make people prone to overspending
Since debit cards are linked to our accounts directly and credit cards are being used on credit, this makes it easier to make payments and people end up buying more things which leads to overspending.
4. are they really eco friendly
Though with the use of plastic money impacted the use of hard cash. But Credit cards keep our environmental impact low. But credit cards aren't all good as the plastic they're made of is tough to recycle.
Which company's credit card do you use?