Status definitely played a part. Because the methods for determining creditworthiness were less sophisticated at the time, the bar to clear was high, and being

Status definitely played a part. Because the methods for determining creditworthiness were less sophisticated at the time, the bar to clear was high, and being approved for the card signaled status, wealth, and trustworthiness. In addition to some of the card’s unique features mentioned by other posters, being able flaunt a status symbol to friends, customers, and business associates played no small part in the success of the card. Electronic Value Exchange (https://www.springer.com/gp/book/9781849961387 https://www.springer.com/gp/book/9781849961387) is a great book on the history of card payments. Well researched and very thorough. I’m told its commonly recommended internally at Stripe.