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How Does a Credit Card Work?

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Part of the video series: Credit & Personal Finance

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The most common way for someone to get a credit card is to establish a banking relationship. Get a checkin… More
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How to Close a Credit Card
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How Does a Credit Card Work?
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Is It Safer to Use My Credit Card Rather Than My Debit Card?
It is generally safer to use a debit card over a credit card so that you are not spending money that you d… More
How to Avoid Credit Card Debt
In order to avoid credit card debt, a person should get a MasterCard or Visa and stay away from store cred… More
How Many Credit Cards Do You Need for Good Credit?
For good credit, a person only needs one or possibly two credit cards with a low ratio for debt to availab… More

Summary: A credit card is issued by a bank to a creditor based on the credit worthiness of that creditor. Learn about the available line of credit in a credit card with help from a registered financial consultant in this free video on credit and personal finance.

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By Patrick Munro
eHow Presenter

Contact: www.northstarnavigator.com

Patrick Munro's affinity for investing and financial matters began more than 20 years ago with business education and service throughout the ranks of the banking, insurance and...read more

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"This is financial adviser Patrick Munro talking about how does a credit card work? A credit card is issued by a bank to a creditor based on the credit worthiness of that creditor. Once they receive their credit card in the mail it has an available line of credit. It is up to that consumer to use the credit card in a mindful way to keep the credit card balances low and pay off the balances when they come due or if you have to carry a balance to make sure that you pay more then the minimum monthly payment. A credit card then is presented to vendors of goods and services by the consumer and the merchant will swipe that credit card from the terminal and money from the bank will be given to the vendor for the payment of those goods and services chosen by the consumer. What happens then is the consumer takes ownership of the goods and services but then incurs a debt from the bank going forward so make sure to keep your debt levels down and enjoy the conveniences of credit cards. This is Patrick Munro talking about how a credit card works."

eHow Article: How Does a Credit Card Work?