NEWSdial.com is a Resource of Well Researched Articles, Information, News, and Videos
 Follow us on Twitter


 

Home > Money > Credit Cards
General Menu

Diners Club Credit Card Company

Diners Club International, originally founded as Diners Club, was formed in 1950 by Frank X. McNamara, Ralph Schneider and Alfred Bloomingdale. When it first emerged, it became the first independent credit card company in the world.

Diners Club Cards: The First Credit Cards
While many stores and businesses were in the practice of extending credit to their customers, or allowing them to set up charge accounts, the revolutionary 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. At that time, 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 Card Competition Begins
In 1952, McNamara sold his share of the company, which continued to grow unabated for several years, eventually signing merchants all over the United States. Their monopoly was short-lived, however, as the more generalized American Express and BankAmericard (later renamed VISA) arrived towards the end of that decade. Amoco gasoline also issued its own co-branded Diners Club cards for a time.

Diners Club expanded its customer base in Canada by acquiring the en route 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.

Today, Diners Club International is a part of Citibank, a unit of Citigroup, and has expanded its coverage to include all types of merchants instead of being limited to restaurants. The Diners Club US cards are now a part of the MasterCard network, meaning cardholders can use their cards at over 24 million locations worldwide.

Carte Blanche
Carte Blanche was a minor credit card that was acquired by Citibank and phased out of service. In 2000, the Carte Blanche name was revived when Diners Club, which was also acquired by Citibank, 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 affluent travelers. It is accepted wherever regular Diners Club cards are accepted.

Share/Save/Bookmark



This article is licensed under the GNU Free Documentation License.

> Return to Credit Cards Reference Section
> Return to Money Main Reference Category
> Return to NEWSdial.com

 
 
Our Blogs

The Daily News

Other Sites We Run

Online Dating

Solar Power

STD Info Center

Funny Video Clips

Parkour Videos

Hidden Camera Pranks

Kindle Edition Books

Wii Games Magazine

Parp Inhibitors Cancer

Sites of Our Friends

Real Estate Tips

Pellet Stove Parts


Our Videos

NEWSdial.com
produced these videos:

Japanese Balloon Bombs

Cute Cats

Cuddly Kittens

Newsletters

ASA Newsletter
The ASA newsletter
contains vital information on research and news related to Allergies, Sinusitis, and Asthma.
Subscribe
Archives
FAQ

Our Contact Info

NEWSdial.com
29030 Town Center Loop E.
Suite 202 - 188
Wilsonville, OR 97070
info@newsdial.com

Privacy Policy

View our Privacy Policy


NEWSdial.com is a reference directory and news resource with a focus on unique news articles.
NEWSdial.com is a customer-friendly news and reference site.
NEWSdial.com is not responsible for the content of external sites listed.
All NEWSdial.com articles are copyright 2004-2009 by NEWSdial.com. All Rights Reserved.
Online Dating Directory | Online Dating Newsletter | Web Marketing Consulting |
Webmaster Articles | Online Dating Industry | Dating Games