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There was a time when furniture stores, appliance stores, etc, provided credit directly. You could buy items from the store and make payments over time. Credit
by paulsutter 9y ago
There was a time when furniture stores, appliance stores, etc, provided credit directly. You could buy items from the store and make payments over time. Credit cards were seen as a generalized way to make these purchases, if you go far enough back in time.
- cosinetau 9y agoGood point. So it was seen as not being able to pay in full for groceries? Despite the fact that bad cheques can kinda do the same thing as not paying the credit bill? I would imagine however, that over time a personal reputation is gained for writing bad cheques. I guess the difference is whose problem it becomes: a credit agency, or the person who knowingly accepts a potentially bad cheque. It's funny how we judge each other for using new tools.