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In 1981, Citicorp acquired the Diners Club card, and by the mid-1990s the Carte Blanche card was being phased out in favor of Diners Club. Parent company Citigroup was formed in 1998 with the merger of Citicorp and the Travelers Group. Citigroup issued a premium Diners Club card in 2000, naming it the Diners Club Carte Blanche card.
Five out of every six credit card-carrying tourists entering the United States have a Diners Club card. 1975 Diners Club introduces the industry’s very first corporate card program, marking another significant moment in Diners Club card history.
In the 1970s, Diners Club launched its first range of corporate cards and, one decade later, lived up to its reputation as the pioneer of the industry with the introduction of Club Rewards®. On December 31, 2009, BMO® Financial Group acquired the Diners Club North American franchise.
Founded in 1950 by Frank X. McNamara, the Diners Club card revolutionized the way people paid for their expenses. This article explores the remarkable journey of Diners Club, from its groundbreaking inception to its eventual decline.
It was the maiden voyage of the Diners Club Card, which represented the first charge card that could be used at multiple outlets and not with just one vendor or retailer. In 1951, Diners Club...
Diners Club’s history is rich in “firsts” – among them: First internationally-accepted charge card (1953) First company devoted exclusively to charge cards to be listed on the New York Stock Exchange (1959) First charge card in Russia (1969) and China (1980)
On February 8, 1950, Frank McNamara paid for his lunch at a steak house called Major’s Cabin Grill in NYC with a Diners’ Club card numbered 1,000 (i.e., #1). With his little paper card he made the very first charge on a nationwide credit card.
Diners Club began its proud history in 1950, all because a man named Frank McNamara had dinner in a New York restaurant but left his cash in another suit, leaving him unable to pay the bill without his wife having to bail him out.
It was a much different story when Diners Club, which would go on to become the first successful charge card, made its debut in 1950. The Times didn’t even mention the new payment system until...
Founded by Frank McNamara in 1950, the Diners' Club Card was among the country’s earliest charge cards. Before the time of plastic credit cards or digital payments, being freed from carrying an excessive amount of cash by simply presenting you Diners’ Club card was novel.