In 1949 Frank McNamara was having dinner in a Manhattan restaurant and when the bill came he realized that he had left his wallet at home. By the time his wife arrived and the bill had been settled, McNamara was deep in thought. After ruminating for sometime McNamara came up with the idea of using charge cards in restaurants. A charge card is a credit card that must be paid in full at the end of each billing cycle. In 1950 McNamara cofounded Diners Club. Click here to read the rest.