This is 99% invisible. I'm Roman Mars.

In September 1958, Bank of America decided to try an experiment, one that would have far-reaching effects on our lives and on the economy.

They decided after careful consideration to conduct this experiment in Fresno, California.

The thinking was, no one was paying much attention to Fresno, so if the plan failed, it wouldn't get a lot of media attention.

Things were slow back then here.

Fresno was not the big metropolitan area it is today.

That's Joseph Rusak. My name is Joseph Rusak. I've worked with Bank of America since

1956 and retired in 1985. Started off as a teller and worked our way up,

as most of us, young fellows did.

Joseph was there when all this went down.

And so in September of 1958, Bank of America Joseph was there when all this went down.

And so in September of 1958, Bank of America sent out 60,000 pieces of mail to people in

Fresno.

Inside, with a little plastic object that has become in equal parts emblematic of opportunity, convenience, and

debt.

He's talking about the credit card.

That's reporter, Nate Burke, here to tell you what I'm talking about.

Bank of America had recruited about 300 merchants in Fresno

to accept this new payment system.

And they'd asked employees like Joseph to hand credit cards out

to people they knew.

We did.

...