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Diners Club International, originally founded as Diners Club, is a credit card company formed in 1950 by Frank X. McNamara, Ralph Schneider and Casey R. Taylor. When it first emerged, it became the first independent credit card company in the world. Image File history File links Diners_Club_Logo3. ...
Citigroup Inc. ...
Year 1950 (MCML) was a common year starting on Sunday (link will display the full calendar) of the Gregorian calendar. ...
An entrepreneur (a loanword from French introduced and first defined by the Irish economist Richard Cantillon) is a person who operates a new enterprise or venture and assumes some accountability for the inherent risks. ...
Diners Club International, originally founded as Diners Club, is a credit card company formed in 1950 by Frank X. McNamara, Ralph Schneider and Casey R. Taylor. ...
A credit card system is a type of retail transaction settlement and credit system, named after the small plastic card issued to users of the system. ...
A website (alternatively, Web site or web site) is a collection of Web pages, images, videos or other digital assets that is hosted on one or several Web server(s), usually accessible via the Internet, cell phone or a LAN. A Web page is a document, typically written in HTML...
Year 1950 (MCML) was a common year starting on Sunday (link will display the full calendar) of the Gregorian calendar. ...
Diners Club International, originally founded as Diners Club, is a credit card company formed in 1950 by Frank X. McNamara, Ralph Schneider and Casey R. Taylor. ...
Look up credit card in Wiktionary, the free dictionary. ...
Foundation
While many stores and businesses were in the practice of extending credit to their customers, or allowing them to set up charge accounts, the idea behind Diners Club was that the same card could be used to pay a variety of merchants. In 1950, the first Diners Club cards were given out to 200 associates of McNamara, mostly salesmen who often needed to dine with clients. Diners Club had signed up 14 restaurants in New York City. Membership grew quickly as both new customers applied for the card and more restaurants signed on. By the end of 1950, Diners Club had 20,000 customers and was accepted at over 1000 restaurants. Credit as a financial term, used in such terms as credit card, refers to the granting of a loan and the creation of debt. ...
For other uses, see Restaurant (disambiguation). ...
New York, New York and NYC redirect here. ...
In 1952, McNamara sold his share of the company to Joe Williams of Archer City, Texas, and the company grew unabated for several years, eventually signing merchants all over the United States. Diners Club created what would later be dubbed the Travel & Entertainment (T&E) card market, which focused on cardholders who were frequent travelers and had a substantial income to pay for other high-value charges. As these customers had no need to pay for purchases over time, these cards required that the entire balance of the bill was paid upon receipt. This type of account is known today as a charge card. Diners Club's monopoly was short-lived, however, as American Express and Carte Blanche began to compete with Diners Club in the T&E card market. Year 1952 (MCMLII) was a leap year starting on Tuesday (link will display full calendar) of the Gregorian calendar. ...
A charge card is similar to a credit card, except that the charges made to it must be paid-off each month, rather than having revolving credit which carries a balance forward. ...
American Express (NYSE: AXP), sometimes known as AmEx or Amex, is a diversified global financial services company, headquartered in New York City. ...
Diners Club also faced competition from banks who issued revolving credit cards though BankAmericard (later renamed VISA), and Interbank MasterCharge (later renamed MasterCard) towards the end of the 1960s. Diners Club began early on to allow franchises of the Diners Club name in first in Europe and later throughout the world, for many years eclipsing the BankAmericard or Interbank MasterCharge networks abroad. Amoco gasoline also issued its own co-branded Diners Club cards for a time called, American Torch Club, as well as Sun Oil Company with its version called Sun Diners Club Card. Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to installment credit. ...
Visa is a brand of credit card and debit card operated by the Visa International Service Association of San Francisco, California, USA, an economic joint venture of 21,000 financial institutions that issue and market Visa products. ...
MasterCard Worldwide (NYSE: MA) is a multinational corporation based in Purchase, NY in the United States. ...
The American Oil Company, or Amoco, was a global chemical and oil company, founded in Baltimore in 1910 and incorporated in 1922 by Louis Blaustein and his son Jacob, but now part of BP. The firms early innovations include the gasoline tanker truck and the drive-through filling station. ...
Diners Club International, the franchisor that holds rights to the Diners Club trademark, was acquired in 1981 by Citibank, a unit of Citigroup, as well as many of the largest franchises worldwide, although a majority of its franchises abroad remain independently owned. Citigroup Inc. ...
Image File history File links No higher resolution available. ...
Image File history File links No higher resolution available. ...
MasterCard Worldwide (NYSE: MA) is a multinational corporation based in Purchase, NY in the United States. ...
MasterCard alliance In 2004, Diners Club announced an agreement with MasterCard. Diners Club cards issued in the United States and Canada now feature a MasterCard logo and 16-digit account number on the front, and can be used at the millions of locations that accept MasterCard. Cards from other countries continue to bear a 14-digit account number on the front, with the MasterCard logo on the back. Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ...
MasterCard Worldwide (NYSE: MA) is a multinational corporation based in Purchase, NY in the United States. ...
Carte Blanche Carte Blanche originated as a Travel & Entertainment (T&E) card owned by Hilton Hotels, and competed with both American Express and Diners Club. The company changed ownership after being sold by Hilton, with Citibank owning the company for a brief period during the 1960s, and finally repurchasing it in 1979, and phasing the card out of service in the late 1980s. Throughout most of the 1960s and 1970s, the Carte Blanche card was considered to be more prestigious[citation needed] than American Express or Diners Club, though its small cardmember base hindered its success. Carte Blanche also was the first to implement a 'Gold Card' program[citation needed], but initially only as a means to recognize cardholders who were frequent users and paid their bills on time. In 2000, the Carte Blanche name was revived in the United States when Diners Club, which was also acquired by Citibank in 1981, introduced an upscale version of its card: the Diners Club Carte Blanche Card. It is an upper-level charge card on par with the American Express Platinum card. The card carries a US$300 annual fee and offers an extensive menu of perks geared toward spendthrifty travelers. It is accepted wherever regular Diners Club cards are accepted. Although Diners Club requires payment in full within 30 days, corporate accounts can pay within 60 days without penalty. Entrance of the Beverly Hilton Hotel in Beverly Hills, California Beverly Hilton Hotel viewed from Wilshire Boulvard Hilton is a brand of the Hilton Hotels Corporation, based in Beverly Hills, California. ...
American Express (NYSE: AXP), sometimes known as AmEx or Amex, is a diversified global financial services company, headquartered in New York City. ...
American Express (NYSE: AXP), sometimes known as AmEx or Amex, is a diversified global financial services company, headquartered in New York City. ...
enRoute -
Diners Club expanded its customer base in Canada by acquiring the enRoute card from Air Canada in 1992, and marketed the card under the combined name for a period of time as the Diners Club/en route Card. Diners Club remains a minor player in Canada. enRoute card enRoute was the name of Air Canadas credit card division. ...
Air Canada is Canadas largest airline and flag carrier. ...
See also A credit card system is a type of retail transaction settlement and credit system, named after the small plastic card issued to users of the system. ...
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