For over 40 years, Visa has been a trusted brand of credit card. In 2009, the global network operated by Visa processed an amazing 62 billion transactions representing a total volume of $4.4 trillion. Visa operations can be found in North America, Asia- Pacific, Central America, South America, the Caribbean, the Middle East, Africa, and Central and Eastern Europe. Individuals, small businesses, and corporations can apply to be Visa cardholders.
Getting a credit card during the college years is a great way to start building credit. Visa offers several credit cards designed for student use and some of these feature introductory APRs, benefits like cash back, and tools designed to teach cardholders about credit.
The Citi Dividend Platinum Select is one popular card. It features five percent cash back on purchases of certain essentials for six months and one percent thereafter. Other purchases earn one percent cash back. Variable cash advance APR is 25.24 percent and cash advance fee is the greater of $10 or five percent of the cash advance.
Those who have already established some credit and are beginning their careers may want a traditional credit card. Benefits include emergency card replacement and cash disbursement, zero liability, and personal auto rental collision damage waiver.
A slew of these Visa cards are available and each has its own features. Consumers can find cards offered by their local bank or credit union or even a large bank like Citibank.
Airline travel, hotel points, gift cards, cash back, and contributions to a designated school, charity, or organization are among the rewards provided by Traditional Rewards cards. With the Bank of America Power Rewards Visa Signature card, cardholders earn three-times points for grocery, drugstore, and gas purchases for six months and one point for each dollar spent on other purchases.
This no annual fee card has a 24.99 percent variable APR for cash advances and cash advance fee of the greater of $10 or four percent of the amount of the advance.
Visa also offers Premium Rewards cards through its Signature line. The Chase Sapphire Preferred card features airline rewards and also rewards each dollar spent on other purchases. The cash advance APR is a variable 19.24 percent and the fee for taking this advance is either $10 or three percent of the amount of the transaction, whichever is greater.
Those who visit the Visa Web site can explore each of these cards or receive personal recommendations regarding cards that are most suitable. The site also provides information about new ways to use a Visa card. These include traveling with the card rather than cash, which is recommended and backed by the Zero Liability program. Consumers can also use the Visa Mobile app to shop from their smartphones.
There are many more benefits to having a credit card than having access to cash advances. However, some cardholders need cash in emergency situations and are happy their Visa card has this feature. Being a responsible cardholder means using the cash advance feature sparingly.
To limit the amount of interest paid, cardholders repay the advance as soon as possible.
