101 On Credit Cards And Credit Card Programs
Posted on 06. May, 2018 by James Greg in Online Business
There are always questions on the minds of many regarding credit cards and credit card programs such as how are they useful, and why are there different types of cards? These questions never seem to end but here is a short guide to help.
What Are Credit Cards? Credit cards are small plastic well, cards which your bank gives you to access your cash with. These cards are often seen being used at ATM machines, stores, and gas stations as well.
That is because it is easier to go about without having to carry a lot of cash in the pocket as the card has all the cash. They are safe as only the holder is aware of the PIN number which is needed to take cash out, or to use it. They are used in credit card programs offered by the bank.
There is not just one kind of brand which offers you the availability of this program. Cards like VISA prepaid card also lets you benefit from perks, but some perks may differ as VISA and MasterCard may have different co-branded companies merged with them giving different offers.
When you have compiled many points you may use them to get something in return. The gifts are dependent on the program.
What are Prepaid Credit Cards? Prepaid credit cards such as VISA prepaid card are the same as normal credit cards. Prepaid means you can use the amount within the credit card and refill it later. The advantage of this is that you know your spending limits, so you do not have to wait in order to buy what you would like to purchase, you can buy it on the spot and pay the bank back later when you have the money.
What Is The Difference Between VISA card And Master Card? Visa and MasterCard are both brands which are known and accepted worldwide. Let us assume you own a VISA prepaid card and you are travelling abroad to another country, you need to book your ticket online, rent your hotel room by making a booking, etc. Since VISA is accepted throughout, all purchases are easily made within instants and the same goes for MasterCard. The only difference they have is the offers they provide.
Disadvantages of Credit Cards The credit card programs allow the users to use the card as the user desires giving them a little more, you can say it is like getting a free cherry on top. This can be very tempting at times, as it is very easy to get greedy. Think about it, you have access to cash which means you can buy anything you want to.
This may make you forget that you are using borrowed money. Unfortunately, if the amount borrowed on the VISA prepaid card or any other card is not returned on time, the bank will fine a late fees and can also charge interest on the amount. This means you have to pay more than the amount which you have used.
Online banking system tied with VISA credit card can be very useful and can provide you advantage. The internet banking software adds more benefit to this as well, but they come with consequences.
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