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America's flexible trend; Your money.

Byline: MELANIE WRIGHT

THE first credit card in today's sense - a means of payment accepted by lots of different companies - was The Diners Club card, launched in 1950 by American businessmen Ralph Schneider and Frank McNamara. It was swiftly followed by the Carte Blanche then, eight years later, by American Express (left). But credit cards were not used outside America until Barclays launched their Barclaycard in the UK in 1966.

FOR all the convenience credit cards offer, the cost of fraud is high: more than pounds 500million a year in the UK alone.
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Title Annotation:Features
Publication:Sunday Mirror (London, England)
Date:Apr 18, 2010
Words:93
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