Message Font: Serif | Sans-Serif
No. of Recommendations: 1
Just pay your balance in full each month and you won't care what the interest rate is.

That, BTW, is how credit cards originally were intended to work.

Actually, back in those days they were called "charge" cards, not credit cards. Many retailers also offered charge accounts, with the same expectation of payment.

Down at Phipp's your credit's great.
Ask today for a Phipp's-O-Plate.

In the 50's all the major stores in Kansas City used the Charge-O-Plate for customers' convenience. Each store kept its own accounts, but the customer used one metal plate which each store notched in the location corresponding to its stamping machines at the registers. If you had an account with them your plate would fit. My mother's looked like it had been attacked by rats.

Widespread "revolving" credit eventually wound led us to bank cards, the ancestor of VISA, etc., which I remember first in the late 60's.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.