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Why are credit cards not included in the money supply even though they can be used easily for transactions?

Sagot :

The reason credit cards not included in the money supply is the Federal Reserve incorporates financial assets like funds and deposits when determining the money supply. Credit card debts, on the other hand, are liabilities. A credit card is a small, rectangular piece of plastic or metal that is issued by a bank or other financial institution and enables its holder to borrow money to pay for products and services.

At businesses that accept credit cards. Credit cards impose the need that cardholders repay the borrowed funds, plus any applicable interest and any other agreed-upon charges, in full or over time, either by the billing date or at a later date.

To learn more about funds, click here.

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