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A History of Credit Cards in America - The Tontine Coffee-House

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Credit cards extended many Americans’ relationship with credit and spurred along many accompanying developments.

As financial developments came about, they largely became available to businesses before consumers and often to wealthy consumers before the masses. As a result, the most ubiquitous financial products today are often among the newest. Credit cards, particularly general purpose credit cards of the sort familiar to us today, were relatively rare even fifty years ago, even in the United States. As credit cards became more common, the product spurred the development of other accompanying businesses and revisions to consumer protection laws. Invention Department stores, oil companies, and hotel…

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