The Visa Reward Card

2007-03-08 10:33:40

( Financial )



Background of Visa Card

Already a household name among consumers, Visa Card had its roots in Bank of America which started a universal revolving credit card that you can use as a third alternative to cash or personal checks for any purchase.

Eventually, Bank of America allowed other institutions to issue the credit card under the names Bankamericard or Master Charge. These two names evolved into what is now known as the Visa card.

Visa not only pioneered a credit card that has gained general merchant acceptance, but also initiated the first electronic dial terminal for fast and easy processing of credit card transactions.

But Visa did not stop there. It further enhanced its services by enabling consumers to make cash advances through automated teller machines. It also enabled multiple currency settlements and expanded to global operations. Visa also took a further step to allow wireless operations and downloading of electronic cash to mobile phones and handheld computers.

The best credit card company is also known for a wide variety of credit card packages which will fit different needs. There are several variants of the classic credit card line which have different credit limits, from Visa Secured for novices with a deposit requirement, to the Visa Platinum which grants unlimited card use to consumers with impeccable credit histories. The Visa Gift card allows your recipients to make purchases at maximum amounts that you have already paid on their behalf.

The Visa Reward Card

Visa has also affiliated with several companies and issuing banks to offer the Visa Reward Card. Aside from empowering you to make credit purchases, Visa Reward Card also lets you earn loyalty or reward points which you can use toward free or discounted products and services with its affiliated companies. So you can get good prices for coffee, insurance coverage, airline tickets, hotels, and even online purchases.

The online site gives you a listing of the companies or products that have affiliated with Visa to offer the reward card. The Visa Reward Card works just like a credit card, but with some extras that you can enjoy with the affiliate company. For instance, if you travel frequently, you might want to select the airlines-affiliated Visa Reward card, so that you get special privileges such as special discounts and bonus miles. A coffeeshop-affiliated reward card can give you discounts or even freebies for your food and beverage orders. There are also car rental companies, department stores and insurance companies who have affiliated with Visa Reward Card.

And as in standard credit card packages, terms and conditions as far as interest rates and annual fees depend on whether you elect Classic, Gold, Platinum or Signature card types. Some affiliates will offer only one or two of these types.

You can easily choose the package you want and apply through the Visa online site.


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