Current Events > 40 years ago, credit card use wasn't all that common and a fairly new concept

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pick4six
09/17/23 9:12:04 PM
#1:


https://x.com/historyinmemes/status/1703199359838679042?s=46&t=pGlQy9QzYotcsUa1DNrknw

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#2
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Saxon
09/17/23 9:17:31 PM
#3:


On average, a credit card user today is in debt to the tune of ten thousand dollars and that's on the low end spectrum.
.

Are you one of them?
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Guide
09/17/23 9:19:06 PM
#4:


The largest order was just over $10. I don't think any combo meals even exist for under $10, now.

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ForsakenHermit
09/17/23 9:20:00 PM
#5:


Guide posted...
The largest order was just over $10. I don't think any combo meals even exist for under $10, now.
I can get a spicy McCrispy combo for under 10 where I live.

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Justin2Krelian
09/17/23 9:20:22 PM
#6:


I really didn't know Credit Cards weren't everywhere only 30 years ago. I even had a Debit Card in 2003...

Also kinda weird seeing Elon Musk commenting

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realnifty1
09/17/23 10:31:34 PM
#7:


It's really not that hard to grasp. Cash was always difficult and the only thing holding back electronic payments was technology. The 80's into the 90's was a wild time for invisible technology growth as the Internet and just the connected network of that rolling out rippled through everything.
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EthanSilver
09/17/23 10:32:47 PM
#8:


[LFAQs-redacted-quote]

Shit I'm older than I thought.
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Saxon
09/17/23 10:34:28 PM
#9:


Buy now and pay later is an incredibly bad idea when you look at those credit card interest rates.
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Thermador446
09/18/23 1:04:25 AM
#10:


I remember when Circuit City went out of business(2009) they were using carbon copies for CC, I was like fuck, no wonder they're going out of business.

Automotive repair shops are the only other places I have seen using carbon copies for CC in my lifetime, and that's cool, but an electronics retailer!?!

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Arcanine2009
09/18/23 1:09:33 AM
#11:


pick4six posted...
https://x.com/historyinmemes/status/1703199359838679042?s=46&t=pGlQy9QzYotcsUa1DNrknw
Bruh that was 30.

Lol at that video that said the lowest and highest credit card use that day was just over 2, and the highest at 10.

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pick4six
09/18/23 8:40:01 AM
#12:


Saxon posted...
On average, a credit card user today is in debt to the tune of ten thousand dollars and that's on the low end spectrum.
.

Are you one of them?

I only have a mortgage thats the only money I owe which is still unfair because it should paid off by now but society overprices everything I cant pay more off the principal


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pick4six
09/18/23 8:40:48 AM
#13:


Guide posted...
The largest order was just over $10. I don't think any combo meals even exist for under $10, now.
Oh hell now, min is $12 and thats the cheapest meal

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pick4six
09/18/23 8:41:31 AM
#14:


Justin2Krelian posted...
I really didn't know Credit Cards weren't everywhere only 30 years ago. I even had a Debit Card in 2003...

Also kinda weird seeing Elon Musk commenting
such a jackass lol

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Vegy
09/18/23 8:41:57 AM
#15:


Guide posted...
The largest order was just over $10. I don't think any combo meals even exist for under $10, now.

I think wendys still got da 4 for $4 combo, its p good

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Avirosb
09/18/23 8:42:51 AM
#16:


Glad I've never had to use credit, it seems like a scary concept.

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pick4six
09/18/23 8:46:07 AM
#17:


Thermador446 posted...
I remember when Circuit City went out of business(2009) they were using carbon copies for CC, I was like fuck, no wonder they're going out of business.

Automotive repair shops are the only other places I have seen using carbon copies for CC in my lifetime, and that's cool, but an electronics retailer!?!

I remember I was ordering at Pizza Hut only 6-7 years ago and I saw the computers in the back still had tube monitors with the green text on black ground, I was legit upset they still had tech ply from the ancient days


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Paragon21XX
09/18/23 8:50:34 AM
#18:


Saxon posted...
Buy now and pay later is an incredibly bad idea when you look at those credit card interest rates.
Deadbeats pay none of that interest rate because they pay the balance in full every month.

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DreTam2000
09/18/23 8:52:03 AM
#19:


Saxon posted...
Buy now and pay later is an incredibly bad idea when you look at those credit card interest rates.


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Raikuro
09/18/23 8:56:12 AM
#20:


Only because online banking wasn't really a thing back then. You'd have to wait to see statements in the mail once a month and send a check to pay it.
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AceAttorneyist
09/18/23 9:08:08 AM
#21:


Paragon21XX posted...
Deadbeats pay none of that interest rate because they pay the balance in full every month.

You make it sound like a bad thing lol.

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Tom_Joad
09/18/23 9:56:49 AM
#22:


[LFAQs-redacted-quote]


1993???

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Questionmarktarius
09/18/23 10:11:12 AM
#23:


Tom_Joad posted...
Also, who remembers these?
I'm not entirely sure those old swipers and debit cards ever existed at the same time.
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mustachedmystic
09/18/23 10:16:41 AM
#24:


Justin2Krelian posted...
I really didn't know Credit Cards weren't everywhere only 30 years ago. I even had a Debit Card in 2003...

Also kinda weird seeing Elon Musk commenting
They were everywhere, people only used them for large purchases, paying in cash for everything else.

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Questionmarktarius
09/18/23 10:23:34 AM
#25:


mustachedmystic posted...
paying in cash for everything else
Checks were pretty big until the 00s or so.
So long as utilities charge a bullshit "convenience fee" for using a credit card and making it easier to take my money, they are still being mailed checks.
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tankboy
09/18/23 10:38:20 AM
#26:


In the 80s-90s, instead of credit cards, a lot of people had gas cards, which were like credit cards, except they only worked at one (sometimes several) brand of gas station. This was a plot point in the Gen X classic, Reality Bites.

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tankboy
09/18/23 10:41:31 AM
#27:


Questionmarktarius posted...
I'm not entirely sure those old swipers and debit cards ever existed at the same time.

They definitely did. I got my first ATM card in 1991 (back when most people called them "MAC" or "MOST" cards, depending on the locally prevailing network). The carbon paper imprinter things lingered at small businesses until the late 90s, for sure. Now many cards don't even have embossed numbers.
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Crimson_Corsair
09/18/23 10:47:24 AM
#28:


If you have the ability, paying for literally everything with a CC is the way to go. I purchase every single item with my CCs and pay off the entire balance before it rolls over to cash in on those sweet rewards.

Just set it to autopay the full balance at the end of the month. I basically fly for free with the miles and get a nice fat cash back twice a year.

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#29
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Ar0ge
09/18/23 10:58:17 AM
#30:


I pay off my credit cards every month.
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littlebro07
09/18/23 10:59:59 AM
#31:


I wonder if that guy ever got his free truck from eating Burger King


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bsp77
09/18/23 11:32:49 AM
#32:


Avirosb posted...
Glad I've never had to use credit, it seems like a scary concept.
It isn't something you should "have" to do. Using credit cards is smart if planning to pay it off every month:

  • It improves your credit score
  • You get money / rewards back
  • If you have a dispute with a vendor, they can get your back
  • If a big emergency happens, you can choose to not play off that month (should be last resort though)


I put everything on credit cards and pay off in full every month.

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toreysback
09/18/23 11:36:07 AM
#33:


credit cards were ubiquitous 40 years ago. even 50 years ago they were still common, but not everywhere.

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Shamino
09/18/23 11:40:47 AM
#34:


I started working at Target in '94 out of High school. On the occasions I got conscripted to cashier I prayed the guest had cash because it was easiest to process. CCs were very annoying and I always needed help since they were not commonly used. Checks were sort of a middle ground, at least the machines would automatically read them in a side reader (the check would move back and forth as it was read). A few years later new machines would accept checks horizontally and read and automatically endorse them.
Then much later, new machines would read CC and Debit with ease, sometime in the early 00's.

We also used LRTs (portable scanning guns) that ran locally on Infrared inside the store. Even in '09 (last year I was there, as I worked there on and off) I was still using a scanning gun, although I don't know if it was IR, WIFI or what. Those tiny handheld scanners were just coming on the scene at the time.

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Compsognathus
09/18/23 11:41:39 AM
#35:


They had credit cards in the Flintstones, so they at least existed since the dinosaurs.

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Tom_Joad
09/18/23 11:44:16 AM
#36:


Just a reminder, 40 years ago was 1983... not 1993.

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Shamino
09/18/23 12:22:22 PM
#37:


Compsognathus posted...
They had credit cards in the Flintstones, so they at least existed since the dinosaurs.

I think CCs started in the 20's, at least the idea of a bank extending credit to a layperson.

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Ratchetrockon
09/18/23 12:23:38 PM
#38:


what the fuck did they use back then

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Paragon21XX
09/18/23 1:11:44 PM
#39:


AceAttorneyist posted...
You make it sound like a bad thing lol.
That's literally what they're called by the credit card companies. It's a bad thing for them because all they get out of us is the merchant transaction fee, but it's great for the rest of us that they can't charge interest until we carry a balance beyond its due date.

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toreysback
09/18/23 1:12:28 PM
#40:


cards made of stone. flintstones was actually a documentary

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CARRRNE_ASADA
09/18/23 1:22:06 PM
#41:


[LFAQs-redacted-quote]


9k here. We had a good streak of years not paying interests, but my wife got a lil too trigger happy with some expenses. At least its under control now.

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Notti
09/21/23 5:58:35 AM
#42:


Paragon21XX posted...
Deadbeats pay none of that interest rate because they pay the balance in full every month.


What did you call me

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Avirosb
09/21/23 6:02:28 AM
#43:


You activated my deadbeat card.

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SiO4
09/21/23 7:20:32 AM
#44:


Tag

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