Credit cards in Iraq

Credit cards in Iraq: American Contribution

Our Immediate Credit Card Care Service receives a large amount of questions from the site visitors. Some of them are troubled with the question whether it is possible to use credit cards at certain locations. For instance, members of the armed forces ask if they can use their card here or there.

One of the “hot spots” – Iraq, involves many Americans and non-Americans. Military people as well as innocent civilians do need credit cards. For example, to use credit cards for making purchases at the FOB and online.

Americans are not sure that in this war co-location common consumers can find any credit cards at all. Some suppose in Iraq merchants do not accept debit or credit cards.

Several years ago a military person would tell you that in this country information technology and electronic transfer capabilities are poorly developed. He would add that you shouldn’t count on using traveler's checks in Iraq. Or he would say he uses a credit card online and his US located wife is paying the bill monthly. Let’s hope all this is in the past.

Iraq is principally a cash-and-carry economy, they have prefered the USA dollars or Kuwait Dinar instead of the new Iraqi dinar. However, now in Iraq you may use credit and debit cards and personal checks.

Iraq's economy is urging for recovery. In fact, Iraqis accept credit cards. We cannot deny the contribution of the American Nation to this process. The USA managed to bring an element of democracy in to the country.

In 2005 Visa was instituted in this state and originally issued 30 thousand credit cards. First Visa and the Trade Bank of Iraq produced 50 plastics for state executives. Visa gave the cards to cabinet ministers, government representatives and financial experts.

Before that Iraq was a mere cash financial system. After 2005 the Visa credit cards began their total introduction. That was the significant financial step – Visa issued the first debit and credit cards. The government then expected Iraqis would be attracted by the offer to use bank services and establish their credit histories.

Then, in 2005, the first credit card fee was 35 dollars along with the necessary deposit of 1 thousand dollars. In the beginning the card was a debit one – for purchases to be covered by money put in accounts. At the same time, the bank introduced first automatic teller machine.

So, if you have had some doubts – the Iraqis have credit cards system. You can use your Visa there and make all the needed payments. Visa now associates card owners, businesses and financial institutions throughout the world. It has a large-scale electronic payment system that connects a billion card owners and more than twenty four million locations worldwide.

Our Immediate Credit Card Care Service receives a large amount of questions from the site visitors. Some of them are troubled with the question whether it is possible to use credit cards at certain locations. For instance, members of the armed forces ask if they can use their card here or there.

One of the “hot spots” – Iraq, involves many Americans and non-Americans. Military people as well as innocent civilians do need credit cards. For example, to use credit cards for making purchases at the FOB and online.

Americans are not sure that in this war co-location common consumers can find any credit cards at all. Some suppose in Iraq merchants do not accept debit or credit cards.

Several years ago a military person would tell you that in this country information technology and electronic transfer capabilities are poorly developed. He would add that you shouldn’t count on using traveler's checks in Iraq. Or he would say he uses a credit card online and his US located wife is paying the bill monthly. Let’s hope all this is in the past.

Iraq is principally a cash-and-carry economy, they have prefered the USA dollars or Kuwait Dinar instead of the new Iraqi dinar. However, now in Iraq you may use credit and debit cards and personal checks.

Iraq's economy is urging for recovery. In fact, Iraqis accept credit cards. We cannot deny the contribution of the American Nation to this process. The USA managed to bring an element of democracy in to the country.

In 2005 Visa was instituted in this state and originally issued 30 thousand credit cards. First Visa and the Trade Bank of Iraq produced 50 plastics for state executives. Visa gave the cards to cabinet ministers, government representatives and financial experts.

Before that Iraq was a mere cash financial system. After 2005 the Visa credit cards began their total introduction. That was the significant financial step – Visa issued the first debit and credit cards. The government then expected Iraqis would be attracted by the offer to use bank services and establish their credit histories.

Then, in 2005, the first credit card fee was 35 dollars along with the necessary deposit of 1 thousand dollars. In the beginning the card was a debit one – for purchases to be covered by money put in accounts. At the same time, the bank introduced first automatic teller machine.

So, if you have had some doubts – Iraqis have credit cards system. You can use your Visa there and make all the needed payments. Visa now associates card owners, businesses and financial institutions throughout the world. It has a large-scale electronic payment system that connects a billion card owners and more than twenty four million locations worldwide.

Doug Nicholas

Doug Nicholas, a financial consultant by profession with a Masters degree in International Business from Brown University, is also an ardent writer. Though he has a full time job at one of the companies listed on Wall Street, he does manage to squeeze in time to follow his passion. He puts his ideas to words in his articles related to finance and business.