With the economy and banking industry in its current condition, it is a good time to look at the history of the credit card. Credit card debt has become a ubiquitous part of American life but the credit card as we know it is a recent development. In fact, credit cards didn’t get their start in the United States until just before World War I. Department stores started issuing metal plates resembling dog-tags to their best customers. By the mid-1920s gas stations began offering credit cards which could be used at their locations around the country. This was an important step because the automobile became common and the mobile lifestyle of the average American has led to the popularity of the credit card.
World War II brought the rationing of gasoline and tires so traveling and automobile use were severely cut back. In 1950, Francis McNamara operated a loan company in New York City. He met a man who would loan out department store cards to friends for a fee and then borrow money from McNamara’s loan company to pay off the balances. He made money on the difference between his interest rate and what he charged his friends for their use. Of course someone failed to pay what they owed and McNamara was saddled with the losses. McNamara was having lunch with his lawyers discussing what to do about the loss when he had the notion of a credit card that could be used at different merchant locations. He decided to start with restaurants in New York City and the Diner’s Club was born.
The initial card was made of cardboard and was issued to an individual with their name on one side and the list of 28 New York restaurants that would accept the card printed on the back. The fee for belonging to Diner’s Club was five dollars per year. He and his attorney successfully enlisted restaurants and more members so Diner’s Club became the first national credit card that wasn’t just for oil and gas. But in 1951, New York’s Franklin National Bank offered a credit card that was accepted by a wide variety of merchants and this made other banks realize what a profitable venture it could be. Bank of America launched the BankAmericard which became the Visa credit card known around the world.
Superheroes are a common part of the world’s popular culture from comic books and movies to television shows and all forms of merchandise. There are conventions devoted to the phenomenon and the genre of superheroes shows no signs of slowing down in the foreseeable future. However, a look at the history of superheroes shows that they have been a big part of our culture and consciousness for decades. They have been recreated time and again as society and events shaped the world around us. For example, during World War II heroes such as Captain America, Superman and Captain Marvel were routinely featured triumphing over the evil Axis powers and were an affordable way to keep the spirit of patriotism going even during difficult times.
During the 1950s superhero comics almost ceased to exist due to social backlash after medical doctor and psychiatrist Dr. Frederick Wertham wrote the book ‘Seduction of the Innocent’ in which he blamed comic books for juvenile delinquency and sexual perversion. The book sponsored a senatorial investigation and led to comic books regulating themselves and creating a code that they had to follow to be published.
The 1960s led to the rebirth of the superhero genre and many of the most popular characters came out of this decade including the Fantastic Four, Spider-Man, the X-men, and the Justice League of America. The Civil Rights movement had an impact on comics with the creation of African-American heroes such as Blade, the Black Panther, Luke Cage, and the Falcon to name a few.
From the 1980s until the present time, superheroes have gotten darker and grittier with a more real world feel to them. Batman: The Dark Knight, the Watchmen, Daredevil, and Wolverine are examples of this trend. Superhero movies have become extremely popular with characters such as Spider-Man, the X-men, Iron Man, Hulk, Batman, etc. leading the box office charge. Television shows such as Heroes and Smallville demonstrate the mass appeal and influence of the superhero genre on our society.
Tags: 1960s, 1980s, batman, captain america, civil rights movement, comic book, dark knight, Dr. Frederick Wertham, folklore, hero, mythology, second world war, superhero, superhero history, superman, world war 2
