In the late 20th century, payment cards such as credit cards and debit cards became the dominant mode of consumer payment in the First World. The Bankamericard, launched in 1958, became the first third-party credit card to acquire widespread use and to be accepted in shops and stores all over the United States, soon followed by the Mastercard and the American Express. Available through SpringerLink. Since 1980, credit card companies have been exempt from state usury laws in the United States, and so can charge any interest rate they see fit.The Effect of Consumer Interest Rate Deregulation on Credit Card Volumes, Charge-Offs, and the Personal Bankruptcy Rate , Federal Deposit Insurance Corporation "Bank Trends" Newsletter, March, 1998. Outside America, other payment cards became more popular than credit cards, such as France's Carte Bleue.
