It is an interesting point to note that the term ‘credit card’ was first used in a novel – a novel structured around utopia. Looking Backward is a novel of great literary importance. Written by American Novelist, Edward Bellamy, in 1887, the novel tells the story of a young man born in late 19th century America, who falls asleep and wakes up a hundred and thirty years later to find his world completely changed. Like any other novel attempting to define the world in futuristic terms, this novel also lays claims to many erstwhile unheard of concepts. One such was the Credit card.
After finding mention in the novel, the first credit card first came into being in the 1920s. The earliest form of the card was the charge card – cards issued fro the sale or exchange of a single commodity such as fuel. Early Twentieth Century American users could not have imagined that the credit card would become the central fixture of monetary dealings in less than a hundred years.
The modern Credit Card is a plastic rectangle that one can use in lieu of cash. Today t