When did the first credit card appear?

Store-specific charge accounts existed earlier, but the Diners Club card of 1950 was the first card accepted by many different merchants. It was founded by Frank McNamara and partners, reportedly after McNamara was embarrassed to find himself without cash at a restaurant. The early card was made of cardboard and served mainly for dining and travel expenses. In 1958 both American Express and the card that would become Visa launched, expanding the idea to a broad consumer market. The revolving credit model, letting customers carry a balance, spread quickly and reshaped personal spending.