CREDIT CARDS

A credit card is a economic tool of fee issued by an article that allows the owner contact to a better than offered stability in your examination account for the reason that the capital comes from a loan by the entity that the licensee shall in agreement with the conditions and situation agreed with your bank or savings.

Format   >>>


The credit card is a piece of plastic with two faces. In the upper panel shows the name of the issuer and its logo, the identification number of the card, expiration date, cardholder name and card type. On the other hand on the back shows a magnetic strip and a place holder and must sign the form where a Code of validity of the card CVV (in English, Card Verification Value), which will verify if the card is in the hands the holder when making certain movements. The CVV is the final three digits written on the backside of the license, in the case of VISA, MasterCard or Diners Club. American cards, CVV has four digits and is located on the upper surface above the ID number.

TYPES OF CREDIT CARDS BY OWNER :


There are some type of credit card, among which we wanted to highlight the most important cards to young adult credit cards, professional cards, cards for over sixty years, travel cards and affinity cards. Can then find the characteristics of each one of them:


Credit cards for young :


Only you can access them from eighteen. Generally the most common are classic, because in order to apply for a credit card "gold or platinum" we need high ingresos.El Card Euro> 26 can be associated with a credit card, and if it so provides a number of benefits to its owner as, for example, discounts on courses, low-interest loans to access housing, a car, for postgraduate studies or start a business. It should be noted that it is a prerequisite to apply to have between 26 and 30.


Credit cards for adults :


Classic Cards: These are standard credit cards, which offer a credit limit to which the client can access, with indifference balance that occurs on your account.


Platinum Card: They offer a higher limit and even more advantages that gold cards for purchases, discounts, insurance and other services. The fees are higher than the gold card.


Gold Card: They offer a higher limit credit and more benefits than before, but this card fees are higher as a result of the additional services provided, including:


- Safer Internet shopping
- Discounts
- Permanent assistance of emergency
- Increased insurance coverage
- It has international prestige


Credit Cards for Professionals :


Purchasing Card: A card that allows both companies to make purchases of products and services at low cost, as well as ease of administration. Within these cards within the most popular is the "visa purchasing".


Business cards - business: This is a card designed to manage the expenses of a company. Usually includes different types of benefits, including:


- Travel Insurance
- Theft Insurance
- Security of employee infidelity
- Discounts on services in general

Credit cards for over 60 years :


Some banks have credit cards for those over 60 years, with many advantages for operators, such as:


- Discount stores
- Cultural activities
- Travel
- Advances pension


Other types of credit card :


Travel Credit Cards: These credit cards issued by financial institutions (banks or savings) that are associated with travel agencies, airlines and other companies involved some form of transport in particular. For every purchase that is made with the Card, you receive points redeemable for travel and other benefits.


Affinity Cards: These credit cards or debit cards issued by a financial institution at the same time are linked to a company or association. They offer benefits and discounts related to the entity to which they are associated. Affinity cards affiliated with nongovernmental organizations (NGOs), allow the customer at the same time it is making a purchase with your card cooperate with the NGO partner.



ADVANTAGES OF CREDIT CARDS AND Disadvantages :

Credit cards, like all types of cards available in the Financial Market, Advantages and drawbacks Have That will be taken Into account When you get one. First, we Must take account of Both general and specific Requirements to be Imposed by the bank.

Credit Card Benefits  >>> 

The credit card holder Allows access to the balance of what to top You have in your checking account, Which Gives it great Flexibility.

If a debt is amortized at the time AGREED With The bank or savings bank interest is exempt.

Allows you to withhold payment of a product or service does not meet the customer expectations or Needs.

The credit card is becoming the payment method Most Common Online, Because That Usually include insurance That Protects you from fraudulent use.

The high cost of credit card is Justified by the insurance coverage You have the card. Almost always includes Different Types of security will depend on the issuer and the contract it signed With The client. Usually, the Most Common insurance cover:

Medical aid

Lost luggage

Theft

Accidents

Disadvantages of credit card   >>>

The client must-have some Economic Stability to apply for a credit card.

To Obtain a credit card, the bank must-verify the Applicant's Income and Their credit.

The extra money may Provide the holder, can be classified as a loan by the issuer of the credit card, and as Such, Must repay it with Interest.

The Risk you run is not to control the Expenditure Incurred With The card and can not assume in a Timely Fashion, Which can lead to debt and paying high interest rates.

Usually the credit card That Carries Higher debit card fees, as well as a Higher annual cost.

CANCELLATION OF CREDIT CARD :

The cancellation or blocking of credit card can occur for various reasons. Sometimes it can be done directly by your financial institution for a specific event occurs or in vuluntaria by the owner thereof. It is very important to cancel the card if stolen.


Cancellation or blocking of the card by the entity   >>>


In accordance with Law 26/1984, introduced by Law 7/1998, on indefinite contracts either party may terminate the contract unilaterally, as long as they notify the customer in advance in order not to cause any injury and resulting from a cause duly substantiated and objective. Also, the entity shall satisfy the customer maintenance fee that the owner has already amortized in proportion to the time that do not use and enjoyment of the credit card.


Cancellation of a voluntary   >>>


If the customer decides to cancel the credit card, you need to write off your debts before you do, otherwise, the entity must pay a commission on the amount outstanding at the time of cancellation. The amount of the early termination fee will depend on the issuer of the card in question.


The only procedure that has to follow the customer for that purpose, is to visit your institution, confirming that it has paid its debts and report you want to cancel your card. The procedure can be done unilaterally by law, without which the financial institution may place restrictions.


Canceling lost or stolen   >>>


If lost or stolen credit card, the holder must notify the utmost diligence to the issuing financial institution, to block the card. At the time of the complaint, the owner has liability under the provisions of the Code of Good Practice of the European Banking. After making the appropriate report will be the entity that should be responsible for the charges recorded on the card.