by Hewett » Wed Nov 05, 2014 8:31 pm
Frank X McNamara, head of the Hamilton Credit Corporation, Alfred Bloomingdale, McNamara's long-time friend and grandson of the founder of the Bloomingdale's store, and Ralph Sneider, McNamara's attorney. The three pooled some money and started a new company in 1950 which they called the Diners Club.The first Diners Club credit cards were given out in 1950 to 200 people(most were friends and acquaintances of McNamara) and accepted by 14 restaurants in New York. The cards were not made of plastic; instead, the first Diners Club credit cards were made of a paper stock with the accepting locations printed on the back.