The world inventions: The history and the case of the credit card!

in OCD2 months ago


The money is invisible, and you are just using your credit card or credit cards today to pay for something. And this is an example of cold marketing exchanges, and it can be warm if the place you are paying is a place with many people being operating around.

The modern payment card was created in 1950 by Ralph Schneider and Frank McNamara who founded Diner’s Club. This was the first general purpose charge card, but it required consumers to pay each month's statement balance in full. Diner’s Club was the first credit card, and the idea was to reduce the time of paying, and also being able to do trade smootly and practical. Instead of using money, as the monetary analysis of Milton Friedman tell sus, you could just use a credit card to pay in a transaction. And transactions and many business operations are where we are today when operating in the markets, the domestic and the foreign.

Credit cards nowadays are the cornerstone of the American economy. At the end of 2017, the average American held 3.1 credit cards with an average balance of $6,354—plus 2.5 retail credit cards with an additional balance of $1,841, according to Experian's State of Credit report. Credit cards are an example of being modern in the nations economy, and we are thinking today, that credit cards are the ways we are operating in capitalism.

The international economies with open borders in many countries for doing trade, are filled with credit cards, and among people and organizations we find American Express, Mastercard, Visa card, SAS Amex Premium and more. We find the use of different credit cards for different purposes in national and in international trade. In doing business we are often using the following credit cards: CitiBusiness AAdvantage Platinum Select Mastercard Capital One Spark Cash Credit Card, Discover it Business Card, Capital One Spark Miles and Wells Fargo Business Secured Credit Card. And when using payments for private purposes, you can just use the first types of credit cards that I mentioned above!

Many economists around the globe are telling about Robinson Crusoe written by Daniel Defoe, when coming to real economy and that economics is about swapping and about doing transactions and exchanges in networks or on an isolated island. But no business in reality is an island, since we need several vendors and many buyers. And the markets are just about you and me when we are doing actions in our money base. Think about that you can get credit with credit cards, and this means that you can buy articles, goods and services which you do not own in present time, but when paying the credit you are the owner of what you or I have bought.

So, what is the economies in different countries dependent on? That there are customers, and that they want to buy things, and that they also really buy in the present or in the future. The worst case scenario is when people cannot afford buying something or anything, and we need money and growth and stability and predictability in the economies in the world. And what we do at home is quite similar to what we are doing abroad, but there are almost more languages and more cultures when moving around the globe. And we are ourselves with our open minds, and our thinking, and that is important everywhere. Today, the markets are aggregated and they have a distinct size, and maybe we should change the script when moving from place to place. And the world is filled with competence and people without competence, and the main point in business is to take risks, and we should dare to do new things.

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Sverre Larsen

Kristiansand, Norway

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