Germany offers four types of credit cards: revolving, charge, prepaid, and debit. Revolving cards provide monthly billing with interest-free period up to 4 weeks. Charge cards automatically deduct monthly charges from linked bank account. Prepaid cards require pre-loading with funds, ideal for students
Credit cards trace back to ancient Mesopotamia with I.O.U. transactions. First store cards were metal plates used by farmers in Old West. Diners Club launched first widely used store card in 1950
Credit cards allow borrowing money for goods and services with agreed limits. UK card transactions reached 383 million in September 2024. Credit cards link physical cards with borrowing facilities
Most cards offer no annual fee and 0% introductory APR for 15 months. Cash back varies by category: 3-6% on supermarket and gas, 1-6% on other purchases. APR ranges from 18.24% to 29.24% after introductory period
JPMorgan Chase leads with $3.58 trillion assets and 4,900 branches across 48 states. Bank of America follows with $2.56 trillion assets and 3,700 branches in 40 states. Citibank, Wells Fargo, and U.S. Bank complete top five with $1.69 trillion and $670 billion respectively
Founded in 1812 as City Bank of New York. Became largest bank in US by 1895. First US bank to open overseas branch in Buenos Aires in 1914. Acquired Haiti's Banque Nationale in 1910-1911