Charga-Plates were issued by large-scale merchants to their regular customers, much like department store credit cards of today.
In some cases, the plates were kept in the issuing store rather than held by customers.
The Charga-Plate, developed in 1928, was an early predecessor of the credit card and was used in the U. It was embossed with the customer's name, city, and state.
It held a small paper card on its back for a signature.
It also reduced the number of errors, by having a standardised form of numbers on the sales slip, instead of various kind of handwriting style.
Because the customer's name was not on the charge coin, almost anyone could use it.
The charge coin offered a simple and fast way to copy a charge account number to the sales slip, by imprinting the coin onto the sales slip.
Beginning in the 1930s, merchants started to move from charge coins to the newer Charga-Plate. It was a 2½" × 1¼" rectangle of sheet metal related to Addressograph and military dog tag systems.Bellamy used the term credit card eleven times in this novel, although this referred to a card for spending a citizen's dividend from the government, rather than borrowing.Charge coins and other similar items were used from the late 19th century to the 1930s.In other words, credit cards combine payment services with extensions of credit.Complex fee structures in the credit card industry may limit customers' ability to comparison shop, helping to ensure that the industry is not price-competitive and helping to maximize industry profits.A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts so paid plus the other agreed charges.