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Subject:
First wide spread distribution/use of credit cards in Los Angeles
Category: Business and Money > Small Businesses Asked by: bill110941-ga List Price: $5.00 |
Posted:
04 Apr 2004 09:30 PDT
Expires: 04 May 2004 09:30 PDT Question ID: 324982 |
I remember my dad getting a credit card in the mail in the late 1950s, I think it was from Bank of America. Can you confirm when large numbers of merchants in the L.A. area started accepting credit cards. |
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There is no answer at this time. |
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Subject:
Re: First wide spread distribution/use of credit cards in Los Angeles
From: probonopublico-ga on 04 Apr 2004 09:46 PDT |
The Bank of America launched the card that would later become famous as 'Visa' in 1959. An initial market trial in Fresno was successful and it was then extended to Bakersfield, Sacramento, Los Angeles and San Francisco. In October 1959, the Bank decided to expamd through the entire state of California. Early reports claim that 2,500,000 cards were issued initially and that there were 100,000 retail outlets. However, no credible statistics seem to be available before 1961. |
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