19h 47min, jan 30, 1950 y - Credit Card
Description:
The very first credit card appeared in 1950. The card was limited to paying for meals at a limited number of restaurants, but it was quickly followed by other cards, causing a dramatic growth in borrowing money. Private debt more than doubled from $104.8 billion to $263.3 billion during the '50s. People borrowed to buy houses, cars, appliances, etc.Added to timeline:
Date:
19h 47min, jan 30, 1950 y
Now
~ 75 years ago