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Blogging for Change Blogging For Change
by sitecore\kmcgrigg on August 16, 2010

Last week, I was driving in a rural area and was only able to pick up one very staticy radio station. Thankfully, the station was airing an interesting show about credit cards. I was unable to find a transcript of the show, so bear with me as I try to remember what I thought was a very interesting little known fact.

According to the radio show Little Known Facts, the biggest increase in credit card use (not in total dollars spent—that has increased over time, but in usage) was way back in 1958. At this time, the IRS changed the way employees and employers were required to report reimbursable business-related expenses. The simplest way for businesses to have a detailed record of expenses was to issue credit cards to their employees.

Coincidently, MMI’s oldest merger partner, CCCS Southwest, was founded in 1958. For more about MMI’s history, visit the ‘About MMI’ section of our website.

Posted in:  About MMI, Credit Cards, Taxes


Andy Frowler says:
January 24, 2011

Credit cards are very useful. The credit cards should be made more secured by technology by being cloned. Andy Frowler

Calculate Credit Card Interest says:
October 29, 2010

Using credit cards definitely make filing expenses a lot simpler. That was the case for my previous employer where I traveled often. It's really interesting to know the origins though. Thanks, Kim.

Credit Report says:
August 21, 2010

A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services.[1] The issuer of the card grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user. Usage of the term "credit card" to imply a credit card account is a metonym.

Finance Jobs says:
August 23, 2010

That is one complete recite that's for trustworthy. Thanks for pointing us in the direction of this eager resourcefulness slant.I read a lot of blogs on a daily basis and for the most part, people lack substance but, I just wanted to make a quick comment to say I’m glad I found your blog. Thanks!Joseph

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