American Balance Card Credit Express

American Balance Card Credit Express

American Balance Card Credit Express

The concept of credit has been around for centuries. It’s believed by historians that credit was first used in Assyria, Babylon and Egypt 3000 years ago. The bill of exchange, which was the forerunner of bank notes, was established in the 14th century. Paper money followed in the 1600’s.

The first advertising for credit was placed in 1730 by Christopher Thornton who offered his furniture for weekly payments.

From the 18th century to the early 20th century, tallymen sold clothing in return for weekly payments. They were called tallymen because they kept a tally of what people bought on a wooden stick. One side of the stick had notches representing debt and the other side recorded payments.