[originaltext] A credit card permits its holders to buy goods or obtain serv

A credit card permits its holders to buy goods or obtain services without immediate payment. Possession of a card identifies the owner, who can obtain consumer credit. Each card has an account of number which is recorded by the seller, who sends it to a central billing office. The office calculates the total price of purchases by the card holder during the month and sends him a bill. The buyer sends his check to the central office, which allocates the money to establishments extending credit.
    Credit cards were used in some American stores during the 1920s, but they did not gain wide acceptance. In 1938 rival American oil companies issued them to consumers and established a national pool to honor each company’s card. This was the start of the credit card’s popularity.