FYI - Mastercard and Visa do not lend money. They are the rails behind the actual card issuing banks that do the lending through cards branded either Visa or Mastercard.
FYI - Mastercard and Visa do not lend money. They are the rails behind the actual card issuing banks that do the lending through cards branded either Visa or Mastercard.
Neither Bankcard issuer lends money. Only BankCredit.
Only Credit.
Same with ALL the commercial banks.
They issue central-bank based bank-credit.
But you're right about the Credit Cards being a back-room adjunct to the other lending done - of course at the highest interest rates ..........because the people need the credit to eat.
FYI - Mastercard and Visa do not lend money. They are the rails behind the actual card issuing banks that do the lending through cards branded either Visa or Mastercard.
Funny that.
Neither Bankcard issuer lends money. Only BankCredit.
Only Credit.
Same with ALL the commercial banks.
They issue central-bank based bank-credit.
But you're right about the Credit Cards being a back-room adjunct to the other lending done - of course at the highest interest rates ..........because the people need the credit to eat.
The Money Apprentice