2 ms·

What’s fascinating (apart from the sound those things made is still in my head) is that the very nature of the technology meant who could and could not get cred

What’s fascinating (apart from the sound those things made is still in my head) is that the very nature of the technology meant who could and could not get credit varied. At first (1950 diners card onwards) only well off could use it at limited establishments (ie restaurants) and they would postal deliver lists of cars - initially white lists of valid card owners and later hot lists of delinquent card owners. Stick your privacy issues in the restaurant food bin there! Calling a call centre to verify every transaction is too expensive so only purchases over certain limits came in following BofA/Visa - and that stated that way till the late eighties when larger stores started using back office to talk to Visa network etc. but even so the ability to do live updates and verification was too much and there were weird cacheing tricks So banks could easily approve or be liable for transactions they would prefer not to approve - so they only gave credit to the rich at first, and then to those who paid back regularly. This info was shared and became credit reference agencies - because the credit card companies shared it initially like casinos but the abuse and mistakes brought legislation I think what i am saying is our consumer credit culture was not designed, it just grew.

rr808 1y ago
I think it was normal that you had to show ID that matched the card name, and compare the signatures too. Now the signatures are just a spot to draw something funny.
- ta1243 1y ago
  In the 80s and 90s in the UK you just signed. The card imprint was embossed by the machine which put it onto the carbon, and that was sent off to the bank for payment later in the week, like cheques. I last used a carbon credit card in the early 00s. Electronic swipe and sign for a credit card had gone pretty much everywhere I went except the US by about 2010
  - roywiggins 1y ago
    I was charmed to have my US credit card read by an imprinter at a corner shop in the UK, circa 2014.
    - quacksilver 1y ago
      I last used a carbon imprinter in the UK in 2013. We hired out car roof boxes / cycle carriers at a summer job I had. I am not sure how valid it was, though they would take a deposit and a card imprint until we got the car accessories back.
      - Symbiote 1y ago
        My employer in the UK had a machine in around 2014, but it was only used for sales of their own products to employees. It put all the transaction risk onto the employer, and had a high fee per-use, but since they only had these 'stock clearance' sales to employees once a year it was fine.

rr808 1y ago

I think it was normal that you had to show ID that matched the card name, and compare the signatures too. Now the signatures are just a spot to draw something funny.

ta1243 1y ago
In the 80s and 90s in the UK you just signed. The card imprint was embossed by the machine which put it onto the carbon, and that was sent off to the bank for payment later in the week, like cheques. I last used a carbon credit card in the early 00s. Electronic swipe and sign for a credit card had gone pretty much everywhere I went except the US by about 2010
- roywiggins 1y ago
  I was charmed to have my US credit card read by an imprinter at a corner shop in the UK, circa 2014.
  - quacksilver 1y ago
    I last used a carbon imprinter in the UK in 2013. We hired out car roof boxes / cycle carriers at a summer job I had. I am not sure how valid it was, though they would take a deposit and a card imprint until we got the car accessories back.
    - Symbiote 1y ago
      My employer in the UK had a machine in around 2014, but it was only used for sales of their own products to employees. It put all the transaction risk onto the employer, and had a high fee per-use, but since they only had these 'stock clearance' sales to employees once a year it was fine.