Credit card is a small plastic card bearing the name of its owner, and a number "its number", and is used in payment transactions and the purchase or withdrawal of ATM machine. Where institutions are equipped with credit cards put an upper limit of money that can be used in the card, and must not exceed. Different credit card debit card, the amount of money paid is not deducted from the bank account directly, but rather the amount of money payable by the Foundation supplied or exported, and are paid the money once a month in the form of premiums, meaning that the user can pay the amount of money the city full or parts with bank interest. In 1920 issued some American companies working in the field of energy, such as these cards to facilitate the payment process for employees, and months credit cards in the world currently is Visa Card, Master Card, Euro Card, Discover Card, and others.
Credit
Card or Bank Card
Is
that card, which gives from which source for example, or a credit union or
institution savings or any other financial institution, granted a line of
credit revolving card holder, The card is actually a loan consumer can use to
purchase its requirements and payment later, if he is unable to pay All what
the borrowing them or buy it in any given month, it allows him to rotate the
part of the amount or all of the amount borrowed to the next month, it follows
that, of course, pay interest on the debit balance (existing) The Card Account
"Charge Card", this is the card that is also called the card account,
or a card on the account, allow the holder or consumer cash withdrawals and
purchases on the account now and payment later, they do not include a line of
credit vertigo, as follows holder to pay the entire amount when it sends the
source list (the bill) has, as does not assume the consumer result, any
benefits, including, for example, American Express Green Card.
Debit
Card
Is
that card issued by banks and of allowing holders clouds of machines ATM, and
pay their purchases through the clouds on their bank accounts directly, that
is, instead of borrowing from the card issuer (without the presence of the
balance in his account) and repayment later (as is the case in credit card),
This means that the client or the consumer or the cardholder is dragging his
money is in the account, or the transfer of funds belonging to him also to the
seller or merchant who bought him the goods when used for this card, if
"card city on the line," the transfer of funds is usually through the
same day on which the implementation of purchase transactions, but if "the
card outside the city line," the conversion is done through several days
later.
Automated
Teller Machines or ATM Bank Card
All
banks almost made this card for the client, in order to enable it to manage
some operations on his bank account, automatically, without reference to the
bank or the branch and stand in front of the counter to withdraw or deposit,
for example, Consumers or the client here has access to the machines, debit,
which are linked to base the bank's customers who deal with this client, as
well as other networks linked to other banks within the state (local area
network) or other networks outside the state as if he wanted the card holder
used outside the country (international networks), as can the client or
consumer use this card to make a lot of processes by which such withdrawals ,
deposits, pay bills and pay a lot other payments, as well as many other banking
transactions such as transferring funds between different accounts, or pay
zakat, or donate to charity through teller machines as those in some Islamic
countries.
Secured
Credit Card
Is
a card key is guaranteed with the bank by deposits provide relevant benefits
the customer to deposit in the bank, and build upon the Bank to issue a credit
card secured by these deposits, where the use of these deposits to ensure the
credit line, provided by the bank to the cardholder, which is a type of card
allows customers to individuals unqualified access to credit card traditional,
because of the lack of a steady income by function, for example, and their lack
of credit history is known to the bank and sometimes issued for those customers
who have credit history is not good with the bank, and here do not trust the
bank in this client confidence sufficient, so link deposit a certain amount as
a prerequisite to give him this credit card. The word credit as we have said in
the threads precedent means that the bank gives confidence to this client,
trusting in the client on this credit line, and is guaranteed by the trusts and
it has given this credit, but new customer or which does not show a steady
income given, or had previous problems is placed usually at least check
customers' confidence in the bank, and thus demanding other guarantees in order
to issue them with these cards.
Prepaid
Card
Is
the card perform the same role customer's credit card, except that the client
must shipped or deposit prior to use, they are based on installing a specific
amount so that they can use the card within the limits of this amount only,
where it is the gradual reduction of the amount of the card automatically
whenever it is used in procurement processes. There are those who put this kind
of cards in the same basket or box that have phone cards or cards to ride
public transportation or filling and the cards are used for many other purposes.
Affinity
Card
Card
is specifically designed to attract certain groups or specific customer,
enjoyed belonging to associations or links or social organizations that, they
are working to encourage these customers to use and compared to encourage
members to the acquisition of this type of card, the assembly or association
get a commission defined by percentage of income derived from the use of this
type of card.
Reward
Card or Co-Branded Card
Granted
this type of card called card rewards to the client or the consumer as a reward
for the client, in exchange for use of this card, and the card-branded it gives
the holder the same space, but offering by the issuer of the card in
cooperation with other institutions, factories or shopping centers or
facilities segmentation, for example, where the source of that achieves the
advantages of reducing the costs of marketing the card and increase the number
of its campaign, while the benefit of collaborating with the source put its
logo on the card as a means of promotion.
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