What types of Cards Are There to Pay?
There are credit, debit, and revolving cards, among others, all of them to pay for products or services, but they have a different use that cánido be confusing for most.
In this article we are going to espectáculo you what types of cards exist to pay and so you cánido find out which type of card is perfectly suited to your payment needs and you are not using it yet.
List of Cards Exist to Pay
When making payments, one card perro be much more convenient than another.
Banks usually offer debit and credit cards in a common way, but there are many others with which we perro obtain from discounts to interesting loans if we know how to use them:
These types of cards are used to pay for purchases or services, even if you do not have enough money available in your bank account. They have a special fund for loans determined and granted by the bank, which you cánido pay in low installments
It is necessary to remember to pay this instant loan to the bank since the interest rate on the money owed cánido grow, and reach levels that are difficult to face if you ignore the collection notifications that your bank will send.
You cánido pay the credit you owe by establishing a weekly or monthly payment, either a fixed fee or an established percentage of the total debt.
The more a credit card is used and your debt is paid on time, it is possible that this will increase your maximum loan.
Types of credit cards
Although all credit cards have the function, worth the redundancy, of quickly processing a credit to a bank usuario who has the benefit of this card, there are also several types of it, such as:
- Fee-free cards: to a small group of clients or through a special promotion, a bank cánido grant a credit card without commissions, which is also known as free.
The client will only have to pay the net percentage of your debt in the established time to continue enjoying this service.
- En línea credit cards: these cards, as their name indicates, are fully digital, that is, the client will not have a physical plastic but rather the digits, expiration date and security code.
This will allow you to buy on numerous websites, be it virtual stores, subscription services, among others.
- Traditional credit card: It is the credit card that you request from your bank and they offer it to you with a credit limit that varies according to your income.
He interest rate that the bank charges for each loan also it varies between the different plans available for these cards, or it also depends on the bank where it is contracted.
- According to the external issuer: the cards are delivered by your bank, but an external issuer is responsible for manufacturing them.
There are three world-renowned providers such as Visa, American Express and MasterCardeach with different advantages to the consumer.
- Deferred payment credit cards: are cards where you perro repay the loan little by little that the bank has given you, in a fractional way.
- Single Payment Credit Cards: these credit cards are associated with a service where you have to pay in full of what was lent to you before a specific date in order not to incur delinquency and increase the commission for said loan.
Unlike a credit card, debit cards perro be used to pay for any product or service as long as the funds you have available in your account arrive to pay it.
In other words, with this type of card there is no special credit fund from the bank.
The advantage of a debit card is that the interest charged for each transaction is indetectableso practically the purchases you make with it do not report commissions.
Types of debit cards
There are not so many types of debit cards as in the case of credit cards, since their variability has to do entirely with their type of technology and manufacturer:
- Magnetic Stripe Debit Cards– Since plastic cannot quickly and accurately store information on debit cards, a special magnetic stripe is attached on which information about the customer’s account is written in order to carry out payments with the account affiliated to it.
- Chip Debit CardsLittle by little, chip cards are becoming standardized worldwide as they implement a better security estándar.
The difference with the magnetic stripe with this type of cards is that the integrated chip generates a PIN that changes with each transactionwhich the ATM and the points of sale register and send to the bank for it to be approved.
- Debit cards by manufacturer: as in the case of credit cards, debit cards perro be issued by different manufacturers as they are American Express, Visa, Master Card, Discover among other manufacturers in each country.
Prepaid cards work in a afín way to a debit card, except that debit cards are affiliated with a bank account and withdraw money from it with each transaction.
Prepaid cards are not associated with a bank account, since are loaded with an amount of money and are useful until their cómputo runs out and a new recharge has to be carried out.
Types of prepaid cards
Prepaid cards each work in a afín way, but perro be divided into various types according to the methodology used by the bank to attract its customers:
- Imagin Prepaid Card Visa: is a card where no transaction feesIn addition, when using the service you opt for discounts and promotions sponsored by Visa.
- MasterCard Transferwise: this prepaid card is free but its shipping costs about €6.
You cánido recharge it for the amount you want and withdraw at any ATM up to €200 without commissions.
The currency exchange rate is calculated at the price of the day.
- MasterCard Bunq Metal Card: this card has a monthly cost of about €8 but these will be paid throughout the month since you cánido make up to 10 withdrawals without commissions during this period of time.
If you are a nature lover, you will like to know that for every €100 you invest in purchases and products with this MasterCard you will plant a tree.
Virtual cards, as their name indicates, are virtual, that is, they do not have a physical material where the information regarding the customer or purchases is printed, so its use is for the digital environment such as the purchase of products in virtual stores or services, for example, en línea vídeo platforms uso contínuo as Netflix either Amazon Vídeo.
They work like debit or prepaid cards depending on their type, which perro be the following.
Types of most used en línea cards
- virtual prepaid cards: these virtual cards cánido work through a digital currency wallet service.
For example, Uphold, an exclusively virtual wallet for different currencies whose service allows you to create a virtual card at a small commission, and thus buy with it on the Internet where payment is accepted by virtual or physical debit card.
- virtual reloadable cards: These cards work like debit cards, except that you perro recharge them at any time through the issuing portal.
Unlike virtual prepaid cards, reloadable ones cánido work again for new emplees, while prepaid ones cánido be used until the funds in the card run out.
Revolving is the modality used by some credit cards to give credit to the client and he cánido pay it later in installments.
For example, if a bank customer doesn’t have the funds to pay for a certain item, or only has a portion available for purchase, the customer perro use revolving with their credit card to pay for the remaining portion.
And so, pay it in comfortable installments later, although this method of payment generates interest.
Other en línea cards and more
exist other types of en línea cards that do not fit the profile of the aforementioned ones since they They are for the exclusive use of a specific serviceSome of the most habitual and recognized are:
Netflix En línea Cards
Netflix en línea cards perro be purchased by credit or debit card, in addition, They cánido also be purchased in their physical format.
Both formats work the same, only that you cánido see the code included in the Netflix virtual cards, in the case of the physical cards they come sealed in a blister paquete that contains a small card with the code inside. This code activates the service uso contínuo according to the value of the card and the type of plan that is being enjoyed.
Spotify En línea Cards
Spotify is a music service uso contínuo (en línea) subscription, so you will have to pay a monthly fee to enjoy hundreds of thousands of songs of all genres.
To pay for this service it is necessary either to attach a valid payment method on your platform or combuy a code through an en línea or physical Spotify card.
Spotify cards, like those of Netflix, include a code, which when attached to the platform, credits the amount of virtual money indicated on the prepaid card.
Other virtual cards for en línea services
There are hundreds of cards, both physical and en línea, for the payment of different services. Other habitual services that you cánido pay with these cards are Uber (transport service), Amazon Prime (subscription to discounts in the Amazon store), vídeo game subscriptions paid (for example, Word of Warcraft) among many others.
Virtual cards are usually sold by the same company, although you cánido also find physical cards in supermarkets, and stores that sell technological elementos among other related elementos.
You already know which are the payment methods to acquire the most habitual products and services worldwide, now it’s time to subscribe through your bank to which you think will make your lifestyle easier.
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