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Visa (Ticker: V) Not So Deep Dive

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The History of Installment Credit

In installment credit, merchants and manufacturers started letting people buy items without putting all the money down at the time of the purchase. It's basically buying how pay later reinvented. By extending this credit, it allowed people to buy more things they otherwise wouldn't have. Bank of America became the largest bank in the US by around the 1950s because they made so many loans.

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