Who Invented Credit Cards?

According to Encyclopedia Britannica, "the use of credit cards originated in the United States during the 1920s, when individual firms, such as oil companies and hotel chains, began issuing them to customers." However, references to credit cards have been made as far back as 1890 in Europe. Early credit cards involved sales directly between the merchant offering the credit and credit card, and that merchant's customer. Around 1938, companies started to accept each other's cards. Today, credit cards allow you to make purchases with countless third parties.

The Shape of Credit Cards

Credit cards were not always been made of plastic. There have been credit tokens made from metal coins, metal plates, and celluloid, metal, fiber, paper, and now mostly plastic cards.

First Bank Credit Card

The inventor of the first bank issued credit card was John Biggins of the Flatbush National Bank of Brooklyn in New York. In 1946, Biggins invented the "Charge-It" program between bank customers and local merchants. Merchants could deposit sales slips into the bank and the bank billed the customer who used the card.

Diners Club Credit Card

In 1950, the Diners Club issued their credit card in the United States. The Diners Club credit card was invented by Diners' Club founder Frank McNamara and it was intended to pay restaurant bills. A customer could eat without cash at any restaurant that would accept Diners' Club credit cards. Diners' Club would pay the restaurant and the credit card holder would repay Diners' Club. The Diners Club card was at first technically a charge card rather than a credit card since the customer had to repay the entire amount when billed by Diners Club.

American Express issued their first credit card in 1958. Bank of America issued the BankAmericard (now Visa) bank credit card later in 1958.

The Popularity of Credit Cards

Credit cards were first promoted to traveling salesmen (more common in that era) for use on the road. By the early 1960s, more companies offered credit cards, advertising them as a time-saving device rather than a form of credit. American Express and MasterCard became huge successes overnight.

By the mid-'70s, the U.S. Congress begin regulating the credit card industry by banning such practices as the mass mailing of active credit cards to those who had not requested them. However, not all regulations have been as consumer friendly. In 1996, the U.S. Supreme Court in Smiley vs. Citibank lifted restrictions on the amount of late penalty fees a credit card company could charge. Deregulation has also allowed very high interest rates to be charged.

Naan Jaika pirandhavan - Dubbed from Malyalam movie Robin Hood

This film subject is based on the bank ATM robbery. Film hero will use the electronic transmitters to find the Pin no and details stored in the magnetic field of the debit card. With that detail he emboss the mag stripe from his home and rob customers money. This is the crux of the movie. This movie released in 2009, but while I was working in one leading bank in India during 2003 we from bank investigated the same time type of case and captured huge amount. After seeing this movie I flashed back to my earlier stages.

Feeling like lost one leg - My bike is not with me.

I am feeling like I lost one my leg. My Thunderbird is in service station for 1 week and before it stood in my home for 1 week. Due to small accident my bike is in service station right now and luckily I am not in hospital as I jumped out of my bike otherwise 185 kg bird would have broken my leg. Thank God, its a great escape. My only worry right now is still my Thunderbird is in service station.

7 Tips to Increase Credit Score in 12 Months

Here’s what you can do to increase your credit score over the next 12 months,

1. Think twice before you purchase each time: If an item is on sale but takes two years with interest to pay it off, it is a ‘deal’ worth passing on.

2. Do not pass with flying colors out with credit cards: Credit scores take into account just how much credit you have availed, so it’s important not to max out your credit card balances; make an effort to keep balances low.

3. Pay bills on time: This is crucial to maintaining good credit for the long-term. Take advantage of a same-day payment option to ensure just-in-time payments to creditors.

4. Do not apply for new credit cards: It’s attractive to open up a new credit card while out shopping, but avoid it. New open credit may decrease your credit score. Also, every credit investigation from a finance company decreases your score by points.

5. Defrost your frozen cards every spring: Many people put their credit cards in the freezer to keep from using them all the time. Don’t forget about those old credit cards. When you stop using a card, issuers may stop updating the account with credit bureaus, or worse, close down the account altogether. It’s good to use those accounts, at least rarely, for a small necessary purchase – then they go back in the freezer for another year.

6. Check your credit report: Check your report regularly and take steps, immediately, to dispute discrepancies. Make corrections a top priority. Consumers are entitled to one free report a year, under federal law, at AnnualCreditReport.com. Don’t sign up for a credit monitoring service.

7. Stay knowledgeable: knowledge is your credit power. Stay informed about the interest rates on your cards and remember the key components you control that influence your credit score, including – number of open credit accounts, balances on those accounts, timely payment record, how many cards are ‘maxed out’, whether you rent or own your home, how long you have been using credit.

Express Avenue - Good shopping mall

Good shopping mall in Chennai, none other shopping malls in Chennai occupied this much place. I think still construction is going on for further phases. Good dining places, food court and retail shops. Expect for the parking cost every thing is fine. Nearly I spent 60 RS for 2 1/2 hours. Today I went in Bike so I escaped from heavy charges I think. I don't know how much they are charging for car parking.

Chennai is improving a lot, it a good sign.

Endhiran - Robotic graphical film

Good graphical movie.Shankar the great movie taker. This is not a usual Rajini dialogue movie, that is big dis appointment for his fans. But its a compulsory watch movie. Climax scenes looks like watching some great holy wood movie. Robotic giant snake swallowing the police cars, robotic giant wheel, giant robot, Robotic whip, etc in the climax took the movie into next generation of Tamil film industry. Here the awesome is none of this robotic scenes looks like artificial each and every thing looks like the real one. This movie gives the combination of Transformers, IRobot and Judgement Day. The other thing here I would like to say is Aish, she dance like any thing, this is 1 movie I am seeing her dance like this extreme in Indian heroein industry. This movie gives  importance to her also. She is  appearing in the most of the scenes. In overall this is a good 3 hrs entertainer. But sure this is a must watch movie for at least 1 time.

Finally got tickets for Endhiran

Finally I got tickets for Endhiran movie but for night show any way I got tickets