Increased availability of credit Flashcards
1
Q
gen (3)
A
- Loans for families to buy a new home.
- Credit cards.
- Private debt massively increased.
2
Q
who offered loans for famillies to buy credit and 1 more fun fact!
A
a. Low interest
b. Offered by:
i. Federal housing administration
ii. Veteran’s administration
3
Q
who offered first credit card
A
Diners Club
4
Q
when 1st credit card
A
1950
5
Q
when american express credit card/.
A
1958
6
Q
which credit card 1958?
A
American Express
7
Q
1950 private debt?
A
$105
8
Q
1960 private debt?
A
$262
9
Q
impact of private debt?
A
c. Debt helped a little bit to stimulate the economy (when it’s not too excessive it can be beneficial without being completely unstable like it was in the 1920s course- I think).
