How to save money and enjoy the convenience of using a credit cardThe use of credit began centuries ago when a person needed to purchase an item but did not have money on hand that time. The store clerk would keep track of this information on a “cuff” that he would wear on his wrist. Ultimately, the information was controlled by lenders and merchants, known as mutual protection societies and round tables. The concern with this type of monitoring is that the scope of monitoring was limited to small regions, making it difficult for businesses to protect themselves from bad debt. For example, a customer might establish a credit balance in multiple regions, controlled by different protection companies; there was no way for different regions to know if a customer had multiple lines of credit in other regions. The third-party credit reporting agency (CRA) was founded in 1830. Nationwide it was established as a franchise. They differed from “mutual protection societies” in that they allowed others access to credit information for a fee. According to Obringer (2002), they were exclusively concerned with their subscribers, consumers, correspondents from business branches and the general public. In the 1920s the first credit card was created in the United States. According to the Encyclopedia Britannica (2002), it could only be used at credit card companies. In 1950 Diners Club, Inc. was the first to introduce a universal credit card that could be used by a variety of stores and businesses. Customers were charged an annual fee and billed monthly. In 1958, American Express was the second major credit card company to issue a universal card with its famous quote: “Not…halfway through the card…45 days notice. Card companies must ask cardholders if they wish to have overdraft protection. According to Randal (2009), invoices should be mailed 21 days before the due date. The reason a credit score exists is to show how reliable a person can be in paying bills on time. There is much more behind the scenes than just the numbers. These numbers are actually based on the person's character, which is why your information is used by your employer, a lender, and an insurance company. The credit card company is in business to make money, you have the power in the relationship to use the credit card to your advantage. You can also go online to Credit Karma to view your score for free or sign up for Identity Guard if “ If you are a Costco member, it only costs $10 a month. You have the option to track your information to check your credit score