Credit Cards FAQ
Who came up with the concept of Credit Card Rewards programs?
The concept of paying customers rewards for using a credit card was initially launched by the AT&T Universal Card. This card offered cash back rewards that could used to add discounts to your phone bill. This initial rewards card also didn’t have an annual fee.
Discover soon followed afterwards with the Discover card, which introduced the concept of paying cash back to the cardholder at the end of each year based on the total amount of card charges.
Since then, reward credit card offers have become very common with many offering deals of up to 5% cash back.