There had been store credit cards for many years before this national card became available. The problem was that you used to have a card for each store you shopped in. The card being introduced in 1969 then known as BankAmericard is now known as Visa.
Thursday, Feb. 13, 1969
Lincoln Bank Adopt Charge Car Service
Consumers in the Greater Rochester area soon will be able to shop with the aid of the world’s largest and most widely accepted bank charge card service. It has been announced by Lincoln First Banks Inc. and its largest affiliate, Lincoln Rochester Trust Company.
A license agreement has been signed with the BankAmericard Service Corporation for its BankAmericard program.
Lincoln Rochester would offer the BankAmericard program after the middle of the year with other Lincoln First banks joining later.
There was a number of reasons why Lincoln First decided to enter the bank charge card business and why it chose the BankAmericard program.
“We believe BankAmercard is the best plan available. It has the broadest national and international coverage with more cardholders (16.7 million), more merchant outlets (397,000), more participating banks (1,864) and highersales volume ($815.5 million) than any other bank charge card program.”
Because Lincoln Rochester anticipates wide acceptance and distribution of the BankAmericard here, the program also will be advantageous for merchants and the retail community.
The BankAmericard was first introduced ten years ago in California by the Bank of America, San Francisco, the world’s largest bak. By mid-1966, the BankAmericard plan had developed so well on the West Coast that it was sought by other banks, leading to licensing agreements in 42 states.