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About ADCULTURE

About ADCULTURE

ADCULTURE was created to help an intern become the CEO in advertising. We focus on digital marketing, personal finance, entrepreneurship, technology, career and fashion advice. You have to have digital marketing skills, understand your finances, be entrepreneurial,  dress for success and embrace technology in order to make it in advertising. We are here to help our readers on that journey.

 

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  • 2008

    2008

    Apple launches the App Store and the first mobile wallets enter the marketplace, which allow consumers to store their credit information on their mobile device to use in-store and online.

  • 2006

    2006

    The “big three” credit scoring agencies work together to create VantageScore. 10% of the market and six of the 10 largest banks use this new consumer credit-scoring model.

  • 1989

    1989

    The FICO score is introduced, and quickly becomes the standard system to measure credit scores. The algorithm remains remarkably similar today.

  • 1970

    1970

    Congress passes the Fair Credit Reporting Act, which establishes a standard legal framework for credit reporting agencies. Bureaus must now open their files to the public, remove irrelevant data, and delete negative information after a certain amount of time.

  • 1958

    1958

    BankAmericard (now Visa) launches America’s first licensed general-purpose credit card. It operated on revolving credit, meaning cardholders could carry a balance month-to-month. American Express and Mastercard follow, allowing more Americans to shop on credit.

  • 1950

    1950

    New York businessman Frank McNamara introduces the Diner’s Club Card, which is considered the world’s first charge card. It could be used at participating restaurants and travel and entertainment venues. Balances were paid in full each month.

  • 1946

    1946

    Brooklyn banker John Biggins launches the Charg-It card, which his customers could use for local purchases. The purchases were forwarded to Biggins’ bank, which reimbursed the merchant and collected payment from the customer.

  • 1921

    1921

    Western Union begins issuing charge cards to regular customers so they can charge their purchases and pay later.

  • 1919

    1919

    General Motors begins lending consumers the money through the General Motors Acceptance Corporation (GMAC). GMAC popularizes the idea of installment credit, requiring only 35% of the car’s value as down payment.

  • 1899

    1899

    Cator and Guy Woolford found the Retail Credit Company. They compile a list of creditworthy companies in “The Merchant’s Guide,” and sell it for $25. RCC goes on to become Equifax, one of the country’s three major credit agencies.

  • 1864

    1864

    The Mercantile Agency, now renamed R.G. Dun and Company, establishes an alphanumeric system for evaluating commercial creditors. It was used until the 20th century.

  • 1841

    1841

    Merchant Lewis Tappan founds the Mercantile Agency to systemize the rumors about debtors’ creditworthiness. His company’s reports were distilled into ledgers kept in New York City.