How do banks issue credit cards?

Answer Credit cards allow customers to access a pool of funds in order to purchase goods and services. Banks use a complex formula to determine whom to issue credit cards and how large the pool of funds s... Read More »

Top Q&A For: How do banks issue credit cards

How Do Banks Make Money from Credit Cards?

Like any other corporation, banks must generate revenue to keep in business. A bank does this, according to the Federal Trade Commission, by charging interchange and discount fees toward merchants ... Read More »

Does government and banks/credit cards share my private information amongst themselves?

Yes, they share info between them. Credit companies report to banks, telling them everything they wanna know- ur last know address, ur last known number- so the credit card company can now harass u... Read More »

When do banks issue form 1099?

Banks typically generate 1099 forms after the last day of the year, and the forms are due to customers by January 31, according to the IRS. Several types of 1099 forms exist, but all share the same... Read More »

The Similarities Between Islamic Credit Cards & Conventional Credit Cards?

The Koran, the holy scripture of Islam, forbids Muslims to charge interest. As with the Hebrew Scriptures, the Koran places lending in the category of charity, and so regards interest as a form of ... Read More »