Visa Credit Cards

If you are looking for a credit card that will be accepted around the world, you may want to choose a Visa credit card. Accepted almost anywhere, Visa offers the power of digital currency to banks, businesses, merchants, individuals, and governments across the globe. According to Visa, as of June 2010, there were over 1.8 billion Visa credit cards issued.  Visa offers a wide assortment of credit cards including cash back, low interest, balance transfer, student, and business cards issued by a variety of banks.

What is Visa?

Understanding Visa means understanding its history in the global marketplace. In 1958, BankAmericard was launched in Fresno, California. With a $300 limit, the experimental paper card was the first to offer revolving credit. By 1976, the world had caught on to the concept, and BankAmericard became Visa, complete with the classic blue and gold flag. The name was chosen because it was simple to spell and is pronounced the same in every language. Travel cheques, ATM machines, and multi-currency clearing were soon to follow.

Today, Visa offers a wide range of credit card products to meet every customer's needs. These offers include:

• Rewards credit card. If you are looking for the best rewards credit card, you will need to find the one that matches your spending. For example, the MTV Visa Card from Capital One gives you five points per dollar spent on entertainment, two points per dollar spent on restaurants, fast food and coffee shops; and one point per dollar on all other spending. You can also get 25 bonus points for each billing statement that you pay your bill on time. You can redeem the points for travel, merchandise and gift cards.
• Airline credit card. If you fly lots of different airlines you may want to go for a general travel credit card , but if you fly one particular airline most often you can sometimes earn rewards faster. For example, Chase's Southwest Airlines Rapid Rewards Plus Visa credit card allows you to earn a free flight with your first purchase. You can earn 3,000 points on your credit card anniversary as a bonus, and will earn two points for every dollar spent on Southwest purchases and one point per dollar for all other purchases. When you use this credit card, there are no blackout dates for travel, no fees will be charged for flight changes and your bags fly for free.
• Business credit card. If you are a small business owner looking for ways to cut costs and improve your bottom line, you may want to take advantage of the New Ink Cash Business Card from Chase. This card, which has no annual fee, gives you $150 cash back after your first purchase, plus another $100 cash back when you spend $5,000 on the card in the first 3 months. On top of that, you earn 5 percent on up to $25,000 spent on the card each year on office supplies and cable and telecommunications services. You also earn 2 percent on the first $25,000 you spend annually on gas and dining. All other charges earn 1 percent cash back.

Is Visa a credit card company?

There are common misconceptions about what Visa does and does not do. Many believe Visa issues credit cards, sets fees, and determines rates. Visa does not do this. Rather, Visa is a global payments technology company that facilitates the use of credit cards throughout the world. Visa has one of the world's most advanced processing networks, capable of handling more than 20,000 transactions per second. Visa technology offers consumers the choices of prepaid cards, debit cards, or credit card products.

How do you choose the best Visa credit card for your needs?

Visa credit cards are offered by a wide variety of financial institutions. Some are co-branded with airlines or hotel chains, some are designed solely for students, some for small business owners and others for people who need to establish their credit. Before you can decide which is the best credit card for you, you will need to find out your credit score and determine how you will use your new credit card.

• If you want to use your credit card to earn rewards, you should look for a rewards program that matches your purchase pattern, such as buying gas or groceries most often or using your credit card for travel.
• If you want to pay off a big purchase over time, you'll want to search for a low rate credit card.
• If you want to transfer a balance and pay off your credit card debt, compare the Visa card offers to find one with the lowest interest rate for the longest time period.

You've narrowed down the options. Now what?

After you narrow down your options, a further credit card comparison should include an assessment of annual percentage rates (APRs), grace periods, annual fees, foreign transaction, balance transfer fees, and any other points that matter to your financial bottom line. Finally, don't forget to check your credit report and credit score in order to spot any problems with your financial history that need to be repaired before you apply for a Visa credit card.