According to historical records, it is true that the first forms of credit cards were issued in the early 1900s by oil companies and department stores.
This is because the first forms of credit cards in the United States were issued by oil companies and stores in the 1920s to their customers for buying goods from the company outlets.
Dinners Club Inc. was the first to issue the first universal credit card in the United States.
However, it was not until 1958 the banks starting with Bank of America in California, began issuing credit cards to their customers.
Hence, in this case, it is concluded that the statement in the question is "True."
Learn more about credit cards here: https://brainly.com/question/11726945
