Beneficial Corporation was one of the largest consumer finance companies in the United States, prior to its acquisition by Household International, Inc. in 1998.
Norwegian immigrant Olaus Westby Caspersen (1896–1971) joined Beneficial in 1920.
In 1976, Beneficial began offering credit cards through its People's Bank & Trust Co. subsidiary in Delaware.
The company bought Parliament Leasing in 1977, and First Texas Financial Corp., a savings and loan, in 1978.
[3] In 1998, the company was purchased by Household International, Inc., for about $8.25 billion in stock.