A Better Way to Manage Your Everyday Money - Book - Page 90
Credit card expense
Charging with a credit card is paying for purchases by instantly borrowing the money that you
spend on the purchase. You pay later for whatever you bought by repaying the loan that you
received when you made the purchase.
What makes instant borrowing possible are the four major credit card networks:
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MasterCard
Visa
American Express
Discover
Credit card networks facilitate transactions between merchants (where you use your credit card)
and credit card issuers (the companies that loan you the money). In addition to aiding
transactions, credit card networks determine where credit cards are accepted.
Credit card issuers provide cards and credit limits to consumers. Issuers also manage numerous
features of credit cards including:
● your application and approval;
● distributing cards;
● terms and benefits (such as annual fees and rewards);
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