What is a visa card? - Other Questions

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Questions » User Questions » Other » What is a visa card?

What is a visa card?

Answered on

Introduced by VISA in the 1980s, a Visa card is of two types, namely Visa Electron and Visa Debit. This kind of credit or debit card can be availed in most nations across the world barring Ireland, the U.S., Australia, Ireland and Canada. The key factor differentiating the two types of Visa cards is that the Visa Electron makes it necessary for all the funds to be in place during transfer while Visa Debit enables users to avail of transfers that exceed the funds available up to a specific amount.

Different regions may issue cards having different features. While some banks issue a Visa Electron card as a debit type, others could make it available as a credit card. More commonly, this type of card is offered as a debit card. To benefit from a Visa credit card, individuals may be required to provide additional information about their monetary assets, other investments and income.

Visa card of the debit type further allows users to withdraw cash from ATMs while in other countries too, along with providing complete debit facilities. Specifically, it is Visa Electron cards that allow such kind of service mostly because they are associated to the Plus interbank network. Some countries have strict regulations as far as issuing and use of the card is concerned. Despite this fact, such kinds of cards are still popular among students and users in the younger age bracket. There is no question of accounts being withdrawn completely with Visa Electron mainly because every transaction needs the funds to be verified.

Banks generally issue Visa Electron card even to consumers who may not be eligible for credit solely due to this reason. Cards could be rejected in the case where a real Visa Debit card is accepted. This kind of card specially does not contain details that have been embossed.

A low interchange fee is attached with this kind of card and hence businesses and airlines may charge extra for debit and credit card payments. In countries like China Visa Electron is in fact the sole non-Union Pay debit card which is easily issued for new accounts since 2009. The rules and regulations for Visa cards however, vary from country to country. Being used carefully, this type of card can be very useful.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
We'll match all the Miles you've earned at the end of your first year. For example, if you earn 30,000 Miles, you get 60,000 Miles.
For Excellent, Good Credit
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
For Excellent, Good Credit
Our application is quick and easy with instant pre-qualification available
For Fair / Good Credit

Other Questions in
Other