Jill On Money: Can Trump cap credit card interest rates?

By Jill Schlesinger | On Money

Although credit has been used throughout history, the first “modern” card dates back to 1950, when Diners Club issued a one available for use at several locations.

Banks soon followed, issuing cards throughout the 1950s. At that time, it was difficult for minorities and women to qualify, but that changed in 1974, with the signing of The Equal Credit Opportunity Act of 1974 (ECOA).

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