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Credit Cards introduce financial flexibility into modern consumers' lives. For those who always pay off their balances, credit cards eliminate the need to carry cash or obtain check-cashing approval. For those who carry a balance, credit cards allow acquisition of goods and services that cannot be paid for in full when purchased. The twenty-first century extent of credit card use may be new, but its function is not. Before 1900, American families obtained "book credit" from merchants who allowed the same financial flexibility now provided by credit cards. But urbanization and the chain store movement rendered the old system of book credit infeasible. The first step on the road to credit cards was development of store-specific metal charge cards in 1928. These cards continued the system of extending credit to favored customers. Clerks no longer needed to assess customers' creditworthiness; any one with a charge card received store credit. Oil companies moved into credit cards as a way of building a customer base. As automobiles increased in popularity in the 1920s and gasoline stations proliferated, oil companies gave loyal customers paper "courtesy" cards that could be used at any of their stations. Balances were paid in full monthly. In 1939, Standard Oil of Indiana made a startling move when it mailed 250,000 unsolicited cards. By 1940, over 1 million cards circulated. In the 1950s, gas companies moved to embossed aluminum charge cards in the size still common in the early 2000s. Early charge cards did not possess the key feature of modern credit cards: revolving credit, which allows card-holders to pay balances over time while simultaneously charging new amounts. Wanamaker's Department Store in Philadelphia moved toward a revolving charge account in the late 1930s when it gave customers four months to pay off a balance. This was not truly revolving credit, however; new charges were prohibited until the previous balance was paid. William Gorman introduced true revolving credit to department store cards in the 1940s, first at the L. Bamberger & Co. department store in Newark, New Jersey, and in 1947 at Gimbel Bros. of New York. In all these cases, the card issuer's goal was to boost sales of the issuing company. Indeed, due to bad debts and fraud, the credit operations often generated a loss.

http://www.creditcardmom.com/

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2. Virgin Atlantic - Home

Back in the early 80s Richard Branson was probably best know for Virgin Records - the legendary record label that signed major names like the Rolling Stones, Janet Jackson and The Human League. In 1984, much to the horror of his directors, Richard announced to the world that a high quality, value for money airline would begin operating within three months. Three months, some licences, staff and an aircraft packed with celebrities later, Virgin Atlantic Airways was born. By the end of the decade we had flown over 1 million passengers and started shaking up services onboard by being the first airline to offer individual TVs to their business class passengers.

In 1992 Richard sold Virgin Music to Thorn EMI and invested the proceeds into Virgin Atlantic, improving on an already great service. In the same year we launched the first super economy service that went on to become our award winning Premium Economy. We spent most of the Nineties buying new planes, expanding our route network and generally breaking new ground in passenger service, both on the ground and in the air. In 1999 Richard sold a 49% stake in the company to Singapore Airlines valuing us at a minimum of GBP1.225bn. In the same year, for services to entrepreneurship Richard received a knighthood.

The decade is still young and we've already grown and now offer regular services to 25 destinations worldwide.

In 2001 we were voted OAG Airline of the Year.

In 2002 we were the launch customer for the Airbus A340-600.

In 2003 the launch of the Upper Class Suite gave Upper Class passengers the longest flat bed flying and a great nights sleep.

In 2004 we unveiled the Virgin Atlantic GlobalFlyer, in which Steve Fossett will attempt the first non-stop solo circumnavigation of the world.

http://www.virgin-atlantic.com

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