Bank of America issued the first general-purpose credit card with revolving credit in 1958.
The card was called BankAmericard and launched in Fresno, California. Unlike earlier charge cards, it let customers carry an unpaid balance from one billing cycle to the next, subject to finance charges. It was issued by a bank and designed for use at many participating merchants.
Bank of America chose Fresno partly because a large share of local residents already banked with it. The bank mailed cards to about 60,000 residents, helping solve the classic card-network problem: customers wanted broad acceptance, while merchants wanted enough customers carrying the card.
Diners Club came earlier as a general-purpose charge card, but its balance generally had to be paid in full. American Express also began with charge cards, while Discover arrived much later. BankAmericard eventually became Visa.