Economy
The credit-card experiment that dropped 60,000 cards
HERE’S THE INTERESTING PART
In 1958, Bank of America basically air-dropped 60,000 live, pre-approved credit cards into Fresno, California, just to see what would happen. The 'Fresno Drop' was a chaotic social experiment that resulted in massive fraud, rampant default, and sheer panic. However, it successfully birthed the modern Visa card, proving that financial recklessness is the mother of invention.
One discovery leads to another.
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