Modern finance · 1950s–1990s
1950
The first charge card
Diners Club lets members eat now and pay one bill at the end of the month.
Diners Club launched in 1950 with a cardboard card accepted at a handful of New York restaurants. Members paid the whole bill each month, and restaurants paid the club a cut of every meal.
Merchant fees like that one still fund card rewards today, including cash back.
💡 Why it made sense then
Restaurants gained customers who spent more, and members didn't have to carry cash.
🎮 In Journey Shares
Cards from the bank pay for anything in the city. Pay the statement in full and there's no interest.
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