Paper Credit Cards: The Overlooked Rarities

Charge coins and plastic credit cards are the pieces that most collectors desire. But what about credit cards made from paper? Why aren’t collectors interested in them? Is it because no one wants them, or is it because they’re so rare that few collectors know they exist?

Few collectors realize paper credit cards exist. The few who do know recognize how rare they are. Those few collectors also understand how frustrating it would be to specialize in older paper cards. It would take years to build anything that even resembled a nice collection.

Why are paper credit cards rare?

There are two major reasons why older paper credit cards are rare. The first is that most were issued before 1960. Back then, there wasn’t the limited liability, for unauthorized charges, that we enjoy today. This helped keep the demand for credit cards down. Therefore, a small number of cards were issued.

Second, companies that issued paper cards had no intention of them lasting. The cards were meant to be used for a short time period and destroyed. Most cards were torn up and thrown away upon expiration.

Most popular paper credit cards

When it comes to collecting older paper credit cards, don’t concern yourself with conditions. Go ahead and acquire any that you can. They are so difficult to locate that it could take years to find another specimen. Some are so rare that they might be unique!

The most popular paper card today is the 1958 American Express. This is an extremely important card. Any collector who’s striving for a complete set of American Express cards must have one. Anybody forming an American Express type collection needs a paper card. Anyone collecting only the first year of issue cards will need one. And of course, any collector specializing in paper cards will desire one for his collection.

Why is the 1958 paper AmEx credit card so popular?

Let’s look at some clues to determine how rare the 1958 American Express card is. Take into consideration that the company who issued it doesn’t have one in their archives. Since American Express doesn’t have one then it’s safe to assume there aren’t any hoards.

I think you get the idea of how rare older paper credit cards are. But don’t feel bad if you don’t own any. There’s currently an opportunity in forming a collection of temporary paper credit cards that are issued today. A modern temporary card is just as rare as an older paper credit card (I’ve never seen a temporary credit card in any collection!).

Rarity of temporary cards

A temporary card is what’s issued when you’re shopping and don’t have the store’s plastic credit card with you. It’s generally valid for one day. Most shoppers make sure temporary cards are destroyed once they get done shopping. That’s why they’re rare!

How to acquire temporary cards

1. Ask a store for a temporary paper credit card

Here’s one way to get a temporary card. When you’re at a store that you have a credit card for, go to the credit department. Ask the clerk if the store gives temporary credit cards. If the clerk says “yes” then tell him you want one. He’ll give you a temporary paper credit card with your account number written on it.

One nice thing about finding a store that issues temporary cards is that each time you visit the store you can get another one. Sometimes you’ll even receive a bonus. That’s because some companies will contact you after they’ve issued you a temporary card. What they’ll want to know is if they can send you some additional plastic credit cards. Obviously, from their viewpoint, you might need more cards since you’re using a temporary one.

2. Apply for a credit at a store

Another way to acquire a temporary card is when you apply for credit at a store. Often a store can approve your credit while you wait. Upon approval, sometimes a temporary paper card is issued. Ask if the store provides this service before you fill out the application.

3. Look or wait for a store to offer instant credit

A final method for obtaining a temporary card is when a store is offering instant credit. Instant credit is when you show a salesperson your valid major credit card and driver’s license. Then you’re given immediate credit. Sometimes you’ll be issued a temporary card so you can start charging immediately.

As you can see, temporary cards are intended to be used for a short time period. They’re made from paper so that they can be easily destroyed, which most people do.

A free collection of temporary paper credit cards can be formed. It will take some time though, but you will have a rare collection.

Collector beware

The credit card with a home-equity line of credit is a reality. Some bank credit cards have changed their line of credit from an unsecured to a secured debt. The security is your home! This new card is being passed off, on an unsuspecting public, under the guise as a way to beat the new tax law that eliminates the deduction on credit card interest rates. By attaching debt to home-equity the interest would still be deductible.

The truth of the matter is that banks are taking staggering losses with credit card loans. They have to do something to protect themselves before the next economic recession. Their solution is to let the consumer take the risk by putting up his home as collateral.

Stay away from this type of card!

Copyright 1986 by Greg Tunks

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Frequently asked questions

You can find out the value of old credit cards by checking how much similar cards sell for. There are several ways to do this.

The simplest way to determine the value of old credit cards is to ask an experienced collector. If you submit an inquiry via our contact form, we can connect you with an expert who can assist you and point out if there is anything rare or unusual in your collection.

Alternatively, you can become a member of the American Credit Card Collectors Society. Membership in our credit card collecting club provides access to resources and knowledgeable members who can help. Benefits of membership include access to a gallery containing thousands of cards with historical pricing information, and access to our entire collection of newsletters, from 1994 through the present day.

You can look at recent sales on auction sites, however, there are some considerations to keep in mind when doing this. Firstly, it’s important to look at selling prices, rather than asking prices. Selling prices are the prices people actually paid, while asking prices can be very different. Secondly, historical sales on some sites are only saved for 3 months, so you may not find something that exactly matches what you have. Thirdly, it is sometimes possible to see rare or unusual cards sell for lower prices than they should have because people do not understand their worth, the ads don't do justice to the card, they're listed in the wrong category, or any combination thereof.

There are always people in our club who are actively buying cards. Collectors tend to focus on a niche, like gas cards or retail cards, or they might focus on a slightly broader area, like bank cards or travel and entertainment cards. Many of the rarest or most unusual cards will exchange hands in private sales. Please contact us if you are thinking of selling your collection.

You can also sell your old credit cards on online marketplaces. You will get the highest price if you sell each of your cards individually, although this approach requires the most effort. At the opposite end of the effort scale would be selling all cards as a job lot, an approach which typically results in the lowest price on a per-card basis. Halfway between these two approaches would be to group cards into different categories and to sell these individual groups, e.g., BankAmericard, Master Charge, oil and gas, retail, and so on.

To join the club, visit the membership section and complete the registration form. You can pay by check or PayPal. We offer annual or lifetime memberships. If you have any questions please contact us via the form on our website.

Credit cards are more worthwhile collecting if they are rare, in good condition, have historical significance, or are associated with famous personalities or events. Valuable modern cards might include those that are difficult to obtain, such as American Express Centurion (a.k.a. ‘black’) cards, while older credit cards might include early independent bank cards, American Express, Diners Club, or BankAmericard (Visa) cards from the 50s/early 60s, or Master Charge (MasterCard) cards from the late 60s. Rare or unusual cards can also be sought after, such as those issued in small numbers, like small independent department stores or gas stations, or cards with appealing aesthetics.

Consulting with other collectors or experts in the club can provide valuable insights. Contact us for more information via the form on our website.

We do not offer an appraisal service in a traditional sense (such services are normally a paid service) but we can connect you with an expert who should be able to assist for free and point out anything rare or unusual in your collection. The simplest way to do this is to submit an inquiry via our contact form.

The American Credit Card Collectors Society accepts donations and is most grateful for any we receive. When donations happen, we strive to find good homes for cards where they will be looked after, matching cards with collectors who will appreciate them. The club may charge members a nominal fee for donated cards, and the proceeds are offset against the running costs of our club. We are a non-profit organization. Running costs include expenses like our convention and website hosting. Donations are most popular for people getting out of the hobby, or when someone has inherited a collection and doesn’t know what to do with it.

If you wish to donate your collection, please contact us via the contact form above.

American Credit Card Collectors Society