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.
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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:
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.
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.
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.