Visa credit cards are one of the most recognizable names in the credit lending industry. Many people view the name Visa as being synonymous with credit card. For years Visa has been a leader in the financial market of the United States and worldwide. One of their main products is consumer credit cards as well as debit cards. There are many different types of credit cards available through Visa. Finding the right card for you may seem overwhelming with all of the choices out there today. Following is some information about Visa that may help you decide what type of credit card is right for you.
History of Visa
When it comes to retail electronic payment networks, Visa is the largest company world wide. Visa transfers money and information between financial institutions, customers, merchants, and government agencies. Visa has a presence either through credit cards, debit cards, commercial cards, or prepaid gift cards in 170 countries. No matter where in the world you use Visa, you are protected through their fraud and risk-management services.
In 1958 Visa started as BankAmericard in California and 12 years later became BankAmericard Inc (NBI). Three years later NBI started an electronic authorization system. In 1976 the name was changed to Visa, an easy to recognize and simple to pronounce name. They made their symbol a blue and gold flag which has been their trademark ever since. By 1997 Visa had reached $1 trillion in global sales and by 2001 global sales reached $2 trillion.
Visa has so many products they are hard to cover all in one place. The main line of products is personal credit cards. These cards come in standard, rewards, and premium rewards cards with a variety of card benefits. Each personal credit card comes with an auto rental collision damage waiver, cardholder inquiry service, emergency card replacement, lost or stolen card reporting, and zero liability.
In addition to the above features, the Premium Rewards Cards also have lost luggage reimbursement, purchase security, roadside dispatch, travel and emergency assistance services, travel accident insurance, sports and entertainment assistance, concierge service, fine wine and food assistance, shopping assistance, warranty service, and a year-end summary statement.
To apply for a Standard Visa Card you must choose from 100s of banks that provide Visa services. Standard cards are ideal for young couples, students, or those who are trying to reestablish credit. These cards don’t have all the bells and whistles but provide a basic credit line, cash withdraws, and Visa protection. A Standard Card is a good way to get started on the road to developing, or rebuilding, a credit history.
To apply for a Rewards credit card you must also choose from a variety of banks that provide Visa services. You do not have to use your own local bank, though you can if they sponsor Visa Credit Cards. You can choose from cards that give a variety of rewards. There are airline travel reward cards, hotel points cards, cash back cards, gift card redemption, or cards that give your rewards and/or cash back to your favorite school, charity, or favorite organization.
To apply for a Platinum Rewards Credit Card you must choose the card that you want. Each signature card has its own rewards. There are reward cards for travel, entertainment, fine wine and food and sports. Each Platinum Rewards Credit Card offers different benefits and different rewards. They are designed to fit into the consumer’s passions and hobbies so that card can fit their needs.
Also offered by Visa are debit cards. A few years ago, debit revenues surpassed credit revenues and Visa is the most widely accepted debit card in the world. Debit cards can be used to pay monthly bills, for dining at restaurants or for fast food, retail purchases, groceries, internet purchases, gas, movie tickets, prescriptions, and more. Though you are accessing funds already in your bank account, you are still protected by the Visa name and reputation.
Another product offered by Visa is prepaid cards and gift cards. Prepaid cards are ideal for teaching teens or students about credit. Parents can preload a certain amount onto a card for their children. These are also known as secured cards. There are also prepaid Visa Healthcard Cards that can access funds from your health savings account for eligible medical services. Gift cards are ideal for any occasion because they can be redeemed on whatever the receivers wants.
Visa payroll cards are a new way for employers to pay their employees. Pay is simply loaded onto the cards and the card can be used as a debit card or at ATMs to receive funds. This is one way for employers to reduce their payroll costs. Plus, each card comes with same protection as a full fledged credit card.
Is Visa Right For You?
With so many choices, you may be wondering if a Visa Credit Card is right for you. A good way to decide is to see what other cards are available that have the features you want. You’ll want to see what different banks and lenders offer too. You can use the free credit card chaser on this page to see what credit cards are offered and compare rewards, benefits, and other information. Start now, and have the card you need fast.