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What are the various types of visa credit cards?

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Visa cards were launched to give competition to the Master card. Survey has shown that approximately a half of the population of the world uses Visa cards. One of the primary features of Visa card is that it allows its users to repay the credit amount in small instalments with minimal usage charge. This is the reason why Visa credit cards have become so popular among the masses.

Types of Visa credit card

The Visa credit cards are available in three categories- standard, rewards and premium rewards.

1. The standard Visa cards – This is the most common and popularly used credit card. The criteria for acquiring these Visa cards are very simple and therefore easily acquired. The charges attached to it are nominal. The disadvantage however, is that these cards do not offer reward points. There are college credit cards for college students. Depending on the income level and spending capacity of the cardholder, the credit limit of the credit card gets decided.
2. Reward cards – These cards need the users to fulfil certain criteria. The salary of the user is taken in to account along with his credit score and credit history. These cards offer rewards in the form of cash or other goods. The cash limit that can be withdrawn from the card however has a limit.
3. Platinum Reward cards – These are special high-end cards. The card users need to maintain a certain credit limit when using this card. The rewards are also very high. Discounts in air fare, restaurants are some of the ways in which the cards count the reward points.

Other cards

1. Debit cards – These cards are linked to the users account. They are used to withdraw cash as well as make purchases.
2. Travellers` card – These have the same functionality as the Visa credit cards except that the cash limit in these cards is higher than the other cards. These cards also carry greater reward points than the others. The traveller`s credit cards are specially formatted to make purchases outside the user`s country of residence. These cards are also used to make on line purchases.

Both the Visa and the Master cards do not directly issue cards to the applicants. They are tied up with the banks to use their company`s brand for transaction of money.

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