The first credit card offered revolving credit
In 1958, Bank of America's BankAmericard pioneered revolving credit, letting users carry balances and pay interest, forever transforming everyday spending and global finance.
In 1958, Bank of America launched the BankAmericard, introducing the first general-purpose credit card with revolving credit. Unlike earlier charge cards that demanded full monthly payment, this innovation allowed users to carry a balance and pay interest on the unpaid portion.
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