Now I'd like to defend a plastic's company, if I might

On 9/2/10 10:10 AM, in article
, "Peter"
wrote:

"tony cooper" wrote in message
...
On Thu, 2 Sep 2010 07:55:58 -0400, "Peter"
wrote:

wrote in message
...
On Tue, 31 Aug 2010 07:51:52 -0400, "Peter"
wrote:

snip

Sears did an excellent job of marketing. In it's day Sears marketing was
just about as effective in gaining market share, as today's methods.

But you are right. When it comes to pricing, from a marketing
perspective,
perception is more important than reality.

Yep. And if you look back, it was Sears that really STARTED the Credit
Card industry too. I believe it was Sears that issued the first
"Credit" card with their revolving charge card?


I was not aware of that. I thought the credit card industry was started by
Diners Club. Retail stores traditionally extended credit to their
customers.
Sears may or may not have been the firs chain to extend credit.

Not too hard research if you're interested:
http://www.creditcards.com/credit-ca...story-1264.php
The Diners Club Card wasn't the first, but it was the first major
player.

According to my reading of the cite you furnished, it was the first that did
not require a banking relationship. (I concede it was cardboard, not
plastic.)

Interesting sidelight. I knew someone who ran a brothel at a prominent
location in NYC. He built up the business by accepting charge cards with the
receipt appearing as a restaurant.


The Sears comment by Gamer doesn't seem to be correct. "The Discover
Card" was Sear's entry, and that wasn't until 1985. Before 1985,
Sears just offered store credit as far as I can tell. Revolving
credit accounts were around as early as 1959, but for store credit
accounts.

I was a bit surprised that plastic credit cards came out as early as
1959. I remember laminated cardboard cards well into the 60s.

In Indianapolis, when I was a kid, my parents had an aluminum charge
plate. It was smaller than a credit card, and the owner's info was in
raised letters. When used, the plate was crunched in a device that
replicated the owner's info by carbon paper on the sales slip.

The plate could be used at any of the four major department stores in
town provided that it was notched for each store. The bills came
separately from each store.


Even in the 70s I could go into local stores to make my purchases. My
account would be charged without anything more than a greeting. I didn't
even have to sign. they knew me as a person, not a number. I still have a
house account at the pharmacy's business successor. If I pick up at the
store, I sign. When they deliver they leave it at my door. Since 1971, we
have never had a problem.

Sure back then every retailer, from grocery stores, drug stores, even camera
stores, had personal 30 day accounts with their customers. It was normal
form of doing business. As a kid, I worked for the local drug store as a
'delivery boy' and got tips for bringing people medicine, sundries and even
food from the grille - way before Dominoes.