^Lot 183 The Diner's Club, Inc.

NY. 1950's. Specimen. 3 different common stocks. Vignette of allegorical man and woman flanking globe. 1). than 100 shs, brown. In 1950, the Diners Club issued their credit card in the United States. The Diners Club credit card was invented by Diner's Club founder Frank McNamara and it was intended to pay restaurant bills. A customer could eat without cash at any restaurant that would accept Diner's Club credit cards. Diner's Club would pay restaurant and the credit card holder would repay Diner's Club. The Diners Club card was at first technically a charge card rather than a credit card since the customer had to repay the entire amount when billed by Diners Club. Rare early credit card company. SCBNC. XF.