On: Banks create money, but it's less impressive than ...

[gumby]

Every time you use your credit card you create money as instead of pulling $20 out of your pocket you still have it to spend.

Of course you sterilize (cancel out) that creation when you pay the credit card bill.

[count → gumby]

When you use your credit card, the bank fronts your spending out of their cash reserves - no new money is created.

[gumby → count]

Though they were obtained at the discount window, as they are not circulating they have no impact on the functional money supply until you use them...at which point you still have that $20.

But I am engaging in some hair splitting, I admit.