Debts used to be paid off a lot easier, but that was largely because everyone knew one another in their small towns. In a city, however, that’s a lot more difficult to maintain.
That’s when things adapted and led to the rise of the credit token. If you merely showed someone your token, you’d be indebted to them and they understood that you’d pay back your debt. The 1950s saw the advent of the credit card and charge card.
The BBC highlights the rest of the history of the credit card here.
Image via Upgraded Points.
