When considering many of the inventions that we use regularly, the
credit card is a relatively new idea; the first credit card that could
be used at more than one merchant was issued in 1950.  Frank
McNamara started the “Diner’s Club” credit card company with about 200
card holders, and it was also the start of the vicious cycle many
credit card users fall victim to:  charging purchases when you
don’t have the cash to buy them, and then struggling to keep up with
the monthly payments because of high interest rates and spending
outside of your means.<br>
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The average credit card debt held by the typical American is over
$8500.&nbsp; As any credit card holder knows, the interest on a credit
card causes you to pay more than double the amount you’ve spent on the
card, if you only send the minimum payment and never make any late
payments.&nbsp; That number increases when you are late sending
payments, thanks to the addition of […]

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