Episode #1—How Credit Cards Work
It’s a quiet morning in Fresno, CA in 1958. Then…65,000 people wake up to a rectangular piece of plastic on their doorstep. No explanation. The era of personal credit cards had begun.
In this episode we explore:
Ding! What happens when you tap your credit card at the register
The story behind the first-ever credit card
How stores, companies like Visa, and banks interact
Who actually pays for points and rewards
… and much more! Listen here:
Ep. 1: 1440—How Credit Cards Work
This episode is part of our launch series for 1440 podcasts. As we work to improve our products for our 4.5 million readers, we would be incredibly grateful for your feedback and input on how to improve. Email us directly at podcast@join1440.com, or click below to either message us or comment:
Interesting
Fantastic! I loved the format, the music, the mix of interview, fact, and listening to the purchase of the coffee. It was also super informative. I didn’t know that merchants were charged higher fees for cards with perks. I avoid using credit myself, as much as possible, though do have a couple cards on hand for emergencies. Anyway, super important content. Thanks so much for making it available to all.