How the Process of Getting a Credit Card is Changing With The Times

How the Process of Getting a Credit Card is Changing With The Times

From credit coins and charge plates to cardboards, credit cards do have a rich history.

It all began in the 1800s when merchants use credit coins and charge plates as a way to extend credit to local farmers until they collected their profit from their harvest.

It was then in 1958 when American Express launched its first credit card made of cardboard and a year after the plastic credit card came to life.

As you can see, the evolution of credit cards is fascinating! But what about the process of getting one?

Here’s the thing… in the old days, getting a credit card or approval for credit card payment involves a laborious process.

What’s the evolution of credit cards throughout the years?

In modern times, it only takes a second to use a card to pay for a purchase. However, before electronic credit cards were invented, transactions were handled using paper receipts and manual card imprinter. That was very slow and not so secure!

Here’s a timeline showing the evolution of credit cards and how the process of getting one has changed through time:

  • Early 1900s to 1940s. Credit cards were made of paper, cardboard, and metals. It is used by oil companies and retail stores to issue credit.
  • 1950s. Plastic travel cards and entertainment cards were issued by American Express. Cardholders are required to pay off the balance each month to continue using the card.
  • 1973. Electronic credit card processing was invented. It enables merchants to look through the users’ bank information to ensure they have enough credit for the purchase.
  • 1986. Discover® card was launched with a TV commercial during the Super Bowl XX. It offers the very first cash reward programs without an annual fee.
  • Today. Credit cardholders can use their cards all over the world and across the country. Cardholders have the flexibility to pay off their balance each month or make monthly payments that are in line with their budget.

With this brief timeline, we can gather that applying for a credit card is getting easier for everyone. You can easily get one in a few minutes without the hassle of carrying something bulky. Credit cards nowadays are handy and weightless!

How to get a credit card?

Here’s how to get a credit card:

  • Shop around to find the best offer on credit cards. Compare different credit cards to see which one has the best offer. Also, it’s worth checking out your emails to see if there are interesting credit card offers. For example, you should respond to capital one mail offer because they always have the best offers.
  • Know the terms and conditions. Of course, before getting too serious, make sure to read the terms and conditions of the credit card company. Understand every item before filling out forms and submitting the application.

Final Words

The process of getting a credit card is becoming easier nowadays. You can apply for one; get approval in as little as 60 seconds, and voila, you can expect to get the card in two weeks.

Also, the evolution of credit had changed through time which makes it a lot easier for people to get one and for merchants to transact with their clients.

It’s convenient to have a credit card as you can use it when you go shopping, dining out, pay for movies, and many other things.

However, it also comes with risks and the commitment to paying it monthly. So, make sure to only apply for a credit card if you really need it.

How To Move your Company Into the Digital Age with Ease

As the influence of technology only grows more prominent you may find that your company is in need of an upgrade, it is no surprise that the world we live in today relies heavily upon technology, this reliance has meant that many companies have had to make significant upgrades to how they work in order to be able to stay relevant. Social media and the internet have played a huge part in this also with many businesses being run purely on an online format.


Software Upgrades

One of the first things you should consider in order to bring your company into the digital age would be to update the software you use, most businesses rely upon online storage and using the internet as a setting for doing business. If you find that you are still using outdated software you run the risk of portraying yourself as a dated company, with so many new software features it would be stupid to not take advantage of what is available to you. These new programs are very useful and can even help reduce menial tasks such as admin and emails by moving onto an automated system, if you are in the market for new company software then I would urge you to research what is available and find the best one for your business needs.


Hire a Specialist

With such a large variety of new technology and programs it can be easy to become overwhelmed when it comes to choosing your new upgrades, this is where hiring an IT specialist comes in. If you find that your business is not the most technologically savvy then it may be time to call in the experts, it is likely that if you are unsure of what changes your company requires you should be calling in someone who knows about the industry. There are many services available including managed service providers which specialize in providing IT assistance, many people ask what do managed service providers do? and the answer is simple. They are there to help with any technological needs you may have and to provide helpful advice in the event of something going wrong, hiring a service like this is a great idea for anyone who is looking to bring their company into the digital age.


Social Media

It is no secret that social media has a strong influence over the world we are living in, this also applies to your business and you may be surprised to learn that social media can help you in many different ways. Firstly social media is one of the most effective marketing platforms currently used, advertising on social media allows you to easily reach a large volume of people just by releasing a few simple posts. The great thing about social media is that most of the platforms do not charge for creating a profile, meaning that you are basically being given a free to use the platform to do some amazing advertising for your business.


Team Training

When it comes to moving your company into the digital age you must not forget about your staff, if you are going to make upgrades and change how you run your business you should ensure that your employees are kept in the loop. At the end of the day, your staff needs to know how to work any new systems or technology that you buy in order for them to work effectively. You should take time to go through any new processes that you are implementing into your company to avoid negatively impacting your business.


Tech Upgrades

As well as making upgrades to the software that you use, you should also think about upgrading the technology that you use the software on. As more and more new services are being developed you may find that your older devices cannot handle the strain, this is not great for business and is a big waste of time if your staff is sat around waiting for their computer to work. Some retailers offer package deals for that buying in bulk so you should be able to get a reasonable price on any technology upgrades you wish to make.