MY ACCOUNT

The History of Women and Credit Cards

In this Bankrate article Treehouse Wealth Advisors’ Diane Bourdo takes a look at credit cards, a modern product that has not always been accessible to women. Bankrate is a trusted provider of accurate rates and financial information with news and reviews published daily on multiple financial topics.

The article presents a timeline of credit card history and how it relates to women’s rights and access to credit cards and general finances. This timeline includes the following dates and events:

  • 1848: The Married Women’s Property Act
  • 1862: California Banking Law and the Homestead Act
  • 1919: First Women’s Bank of Tennessee opened
  • 1938: The Fair Labor Standards Act
  • 1958: The first credit card was introduced
  • 1974: The Fair Credit Opportunity Act
  • 2012: The Credit CARD Act amendment for stay-at-home parents
  • 2020: First female CEO of a major bank
  • Today: More women take the credit lead

Diane Bourdo, CFP®, Private Wealth Advisor at Treehouse Wealth, “mentors female undergraduate and graduate students who are pursuing careers in finance,” presenting her comments on this timeline: “The biggest surprise for me is that not all women had access to credit until 2012. It was not until then that [a woman’s] share of the household income could be used to prove she could pay off credit cards.” Diane provides this insight on one of the final events in the timeline, the “Credit CARD Act amendment for stay-at-home parents” of 2012, revealing this recent progress in the history of women and credit.

Treehouse Wealth Advisors is a fee-only wealth management firm based in the San Francisco Bay Area, serving innovators, legacy builders, and impact makers. The firm provides personalized financial planning, investment management, and wealth advisory services, helping clients navigate significant life changes while working toward fulfilling and meaningful lives.

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Treehouse Wealth Advisors Team

Treehouse Wealth Advisors is a women-led firm based in Walnut Creek, CA, dedicated to crafting tailored financial solutions for individuals and families. With a focus on long-term, relationship-driven approaches, we empower clients to invest their time and assets purposefully. Our team is passionate about challenging the status quo and embracing change to find better solutions.

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