Your First Credit Card

[DWalt]

That's true. It is nearly impossible to function today without some form of credit or debit card. In some places cash is no longer acceptable as an exchange medium. There is a local restaurant that has a sign that says payment by Credit or Debit card only at the cashiers station. At the supermarket I rarely see anyone at the checkout stand pay with cash.

Some years ago I bought a car with my credit card. I did it mainly to get the cash back reward and my card credit limit was high enough. Of course I paid it down right away so I didn't pay any interest. That was the only time I ever got anywhere close to my credit limit.

 

[NYlakesider]

That's true. It is nearly impossible to function today without some form of credit or debit card. In some places cash is no longer acceptable as an exchange medium. There is a local restaurant that has a sign that says payment by Credit or Debit card only at the cashiers station. At the supermarket I rarely see anyone at the checkout stand pay with cash.

Some years ago I bought a car with my credit card. I did it mainly to get the cash back reward and my card credit limit was high enough. Of course I paid it down right away so I didn't pay any interest. That was the only time I ever got anywhere close to my credit limit.

Years back I tried to put a big down payment on a car and they said we only except up to $4,000. The funny thing parts and service departments had no CC limit.

I have a decent limit on my cards, but at least every 6 months I now get a offer to raise my limit.

 

[Dave_n]

Though not a "Credit Card" in the accepted genre, in 1966 in Brighton, UK, the local Barclays Bank issued what today would be called an ATM card. I think this might have been (well) before the US got into the ATM card systems. Since the electronics and machinery were not yet established to dispense cash, what substituted were envelopes containing 2, 5 or 10 single pound notes. You entered your card, entered a PIN and then after the Bank systems checked that you had enough money in your account, your envelope was "produced". This was at least 5 years before the US had ATM cards. I came to the US in 1968 and my first Credit card was the Green AMEX one. This was roughly a year after it was introduced. I still keep having AMEX "urging" me to upgrade, but I have refused for over 40 years. Dave_n

 

[DWalt]

I have used an ATM once in my life. And that was sort of an emergency when I was out of town. Normally I keep enough cash at home to meet my usual household cash needs. I have friends that withdraw cash via ATM frequently, but don't understand why. I forgot one other large credit card transaction I made. And it involved paying a hospital bill but under unusual circumstances.

 

[jeffrefrig]

My first was probably a Sears card. They were giving them out like peanuts at a bar if you had a job. Somewhere back in the 70s they came out with ATMs. Usually cash was king for me.

 

[DWalt]

I had a very bad experience with my Sears credit card. Ended by my cancelling the card and personally boycotting Sears for years afterward. I wanted nothing more to do with them.

 

[llowry61]

My first card was a Firestone card. A buddy's dad was a regional manager for the company here in the Columbus area. We all got cards $150.00 LOC. We bought tires and batteries for our cars since that was really all we might need. We did our own oil changes etc.

The first non-proprietary card was a MC. My dad co-signed so I could get it. I had a $500.00 LOC to be used only for emergencies. I was afraid to use it as it was issued by my dad's local credit union and he would have disowned me if I couldn't make the payment.

Ironically, I spent 31 years in the CC industry retiring from Discover Card in 2022. I have seen some comments both good and bad about them, but I can tell you from an insider's perspective it really is one of the best utility cards out there. Not sure what will happen with the Capital One purchase recently announced. I hope they maintain the on shore, human rep service model. While expensive it is a real product differentiator that people seem to appreciate.

 

[glenwolde]

My wife got me my first credit card. It was like a hobby for her right after we got married. She started with gas cards and store cards and worked her way up to Master Charge (as it was then called) and Visa.

Yeah, we got a bit over extended but I was as guilty as she was. We paid it off and didn't do it again. We have some now but they are paid off every month. I like the points. One card has triple points on fuel and double on restaurants. I just bought some powder with my Cabela points. As long as you don't pay an annual fee or interest, why not? It's free money.

 

[fiasconva]

My first card was a BankAmericaCard too. I got it in the mail free of charge around 1965 after I opened my first checking account. It had a whole $300.00 limit. I kept it in my wallet as an emergency fund all through college and never used it. I finally used it in '71 after I graduated to fund the hotel stay for our honeymoon between basic and my PCS.

 

[Rat458]

Started out with a Radio Shack card .
Got married and had a handful of them.
Got divorced and did without them for 20 years.
Got a reality check when I needed to rent a car.
You cant rent a car without a credit card.
Wouldn't take a cash deposit.
Was so embarrassed that my daughter had to rent it for me.
After that me and the wife got one just for traveling with.
Surprising how many places don't want to take cash anymore.

 

[DWalt]

Just wait until the world goes to some form of bitcoin.