Unlike charge cards, one need not pay the balance completely each month if he/she is using a credit card. These cards are usually issued by credit unions and banks. The shape of the cards and the size is according to the specifications of ISO/IEC 7810 standard. It is 85.6 mm in length and 52.98 in breadth.

The main advantage the credit card customers enjoy is convenience. Loans like short term loans can be made in a faster way than using checks or debit cards. As long as the credit customer maintains the line of credit, there is no requirement to calculate the balance remaining for each transaction. Credit cards feature fraud protection and they are more secure compared to other means. Another added advantage is that the customers need not carry bulk cash.

There are various banks and companies which issue credit cards and it is important to compare balance transfers as there are differences among many of them in terms of charges and transfer fee.

Today it’s referred as the old plastic but all credit card buffs know that the first credit cards were not made of plastic but cellulose and metal plates. Encyclopedia Britannica documents that, 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. Also, in the 1920’s, stylish stores in the United States issued them to their favorite customers.

So at that time they were highly localized in acceptance. So if you lived in Los Angeles you couldn’t use your credit card in Chicago. But credit cards gained nationwide usage after the likes of Henry Ford gave the world mass produced automobiles. The ability to travel across America had the unintended consequence of popularizing the credit card usage. The 1950’s saw the founding of the Diners Club, which now is one of the biggest credit card companies worldwide. Its founder, Mr. Frank McNamara probably was surprised the way his start up turned out to be.

The card was first intended to enable Diners customers to have their meals without paying for them, and Diners club would foot the bill. The customers then would repay Diners Club. In 1951, Bank of America, encouraged by Diners success, started a card that is now called VISA. And other California banks started their card which later became MasterCard. The American Express made its debut in 1958. At that time, the banks realized that the card business was a mass market business, and they later began mailing anyone with address (some of them dead) offering the new found craze.