Credit Card Facts
A Brief History of Credit Cards
The first modern credit card was introduced in 1949 by Frank X. McNamara and was called 'Diners club'.
The first Diners Club credit cards were given out to 200 people (mostly friends and acquaintances of McNamara himself) and only accepted by 14 restaurants in New York. The concept of the card proved popular and grew fast. By the end of 1950, 20,000 people were using the Diners Club credit card.
The average UK citizen has about five credit cards and an average balance of £9,000.
How Can a Credit Card Help my Credit Score?
By owning a credit card and being sensible about how you use it you will build a credit rating/credit score which is held on a national computer database. You can access and view your credit rating online by using a credit scoring company such as Credit Expert.
Whenever you apply for credit such as other credit cards, bank loans or a mortgage, the lender will check your credit rating and gage from this whether you're safe to lend to. If you have had previous credit and being sensible about how you use it then you should have a good credit score.
How to Find the Right Credit Card for me?
Credit cards best is here to help you choose the best credit credit card for you. Credit cards have changed in the last few years and credit card companys have fewer deals than they used to. It's worth spending a little time researching the cards that are right for you.