Categories
Uncategorized

What is a virtual credit card?

The things that don’t really exist: the virtual credit card. Physically, you don’t get a plastic card, as you are used to from banks, but only the following data: credit card, check number and period of validity. These are sufficient for payments on the Internet. The classic credit cards are not replaced, however, because there are very different ideas behind the two card types.

Classic credit card

Classic credit card

The classic credit card can be used anywhere in the world for 24 hours. Coffee houses, hotels, rental cars, shops etc. always welcome credit card holders. In order to receive a classic credit card, you have to meet a number of requirements, such as having an income, being of legal age or being creditworthy. The idea of ​​virtual credit cards is very different.

The idea behind the virtual credit card

The idea behind the virtual credit card

A virtual credit card can be applied for quickly and easily. Credit bureau information or a credit check are not required. It is because this card is based on credit. This means that the virtual credit card must be charged before use. This means that there is no overdraft risk. This card is therefore also suitable for minors.

The advantages of a virtual credit card

The advantages of a virtual credit card

Such a card can be ordered quickly and loaded up fairly quickly, and cost control is maintained.

A virtual credit card is not in a wallet or pocket and cannot be physically stolen. Theft can happen on the Internet just like with a classic credit card, but the loss is limited to the deposited credit.

The disadvantages of a virtual credit card

The disadvantages of a virtual credit card

The advantages of a virtual credit card are the advantages of a classic credit card. You cannot pay offline with an online card, not even abroad. Going to ATMs with a virtual card is also pointless. Depending on the provider, there are various fees, such as annual or recharge fees. Nevertheless, virtual credit cards are very popular and especially popular among young people.

Categories
Uncategorized

Credit Card Limit, How Does It Work?

 

Do you have a card? So you know how your limit works? No?! Then see what the credit card limit is and how it works. He can be an ally or villain of your invoices.Knowing how to use it responsibly results in no hassle when shopping. Do you already have plastic money and are thinking of a higher limit? You might also consider having one more!

Second credit card

Second credit card

Owning another card can mean control over spending. You can use the cards for different uses by arranging the finances. The second card can also be an exit for you that seeks more limit.

Instead of having a small raise, another card can give you the same or even a higher limit than you already have. Here are 5 reasons to have your second credit card.

See how your card credit limit works

See how your card credit limit works

Come on. Your credit card limit is how much you can spend on your plastic purchases. This value cannot be exceeded. It is generated by the card issuer, based on your profile, which takes into account your income and financial movement. Generating a threshold percentage of your monthly income.

If you work and have proof of income, and have a good track record as a payer, a good limit can be set. If this limit is $ 1,000, for example, you won’t be able to spend more on your purchases or installments.

With the same limit of $ 1,000, if you make a purchase of $ 200, the limit becomes $ 800. This amount can be spent until the invoice close date. After payment, you will again count on the full credit card limit.

And how does the credit card limit for installment purchases work?

And how does the credit card limit for installment purchases work?

In this case, the total value of the product will be tied to its limit. That is, if you have the same $ 1,000 and purchase a product of $ 600, in 10x, the amount to be debited from your limit is the total purchase. For each invoice paid, you have the amount of the installment ($ 60) reinstated within the limit.

Limit increase

Limit increase

Need to shop or get a bigger credit? Have you ever considered raising the credit card limit ? If you are a good customer or have a legal use of the card, it will not be difficult to achieve.

Using the limit or almost all of it usually helps to get a credit boost. But of course, allied to your profile as a payer. Delaying accounts is not well regarded by your card administrator, leading to rejection of the request.

Don’t have a credit card yet? If you want to shop and want to spend more, how about starting with a higher limit credit card ?

I don’t know the credit card limit

I don

Knowing your limit is very important, as this avoids problems when you pass the card in a store or in the online commerce itself. Imagine passing the card and finding that it was rejected for lack of balance? Discover your limit in the following ways:

  • Credit card bill
  • Internet Banking
  • Bank branch responsible for the card.

Be careful not to make partial payment of the invoice and enter the revolving. The interest and penalties can be very high, and the sum of them is thrown on the next bill, and eventually becomes a snowball.