A new exhibition at the Currency Museum is paying tribute to a piece of plastic that many Canadians rely on, for better or for worse – the credit card.
A La Carte explores the history of the credit card and how it has evolved over the past 100 years.
“We wanted to show credit cards as an important method of payment in our world,” says curator David Bergeron. “We noticed how our collection should reflect the use of money throughout history, and there was an obvious gap there.”
The museum, located inside the Bank of Canada complex at 245 Sparks St., showcases pieces from the institution’s payment card collection and presents a brief history of credit cards.
A La Carte comes a month after Bank of Canada governor Mark Carney warned Canadians about their “debt-fuelled spending.”
The average debt outstanding by Canadians, which includes credit cards and loans, rose 4.5 per cent during the last three months of 2011, to just under $6,000.
Bergeron says the goal of A La Carte is to introduce and educate visitors about credit card history.
A La Carte houses and displays over 60 different credit cards, some from as early as 1915. Paper versions of Canadian Tire and Shell cards, among other more modern cards, line the walls of the exhibit.
In the beginning, each card was store- pecific and it wasn’t until the development of the Diner’s Club card in 1949 that the idea of credit became universal.
Businessman Frank McNamara founded the credit card after forgetting his wallet when he was at a restaurant. Resolving never to be embarrassed again, he founded the Diners Club.
“All of the credit cards we use today stem from the Diners Club card. The card itself is neat, because it consists of a booklet listing all the merchants and businesses where the card was valid,” says Bergeron.
The Currency Museum began the research for the exhibit in 2003.
“It’s incredible to see the evolution of credit cards,” Bergeron says.
“If a young person was to come in to the museum with a Visa or MasterCard in their hand, I think they would be amazed to see how far the credit card has come and how much it has changed.”
Bergeron researched credit cards with the help of banks, collectors and archivists at Visa and MasterCard in Canada.
“The next phase for A La Carte would be to get some old terminals or ATM machines to showcase,” he says.
Project manager Debra Rohac designed the exhibition. “Our budget was very small, but I’m pleased with the result,” she says.
The Currency Museum has approximately 50,000 visitors annually, with a crowd of 120 on hand for A La Carte’s opening weekend.