Irish Visa Credit Cards Vs. Credit Debit Cards

Thursday, March 11th, 2010 at 5:47 pm

Find out the difference between Irish Visa credit cards and Credit Debit Cards. I will go over pros and cons for each kind of credit card.

How are They Different?

Irish Visa credit cards are just like Visa cards anywhere. With globalization, the same banks that offer Visa credit cards in other countries often offer Visa credit cards in the UK.

Credit Debit Cards are received just like credit cards by merchants. The only difference is what happens on the back end after you hand the card over. Instead of the credit card company paying for your purchase and then sending you a statement billing you for the amount, the credit debit card acts just like a debit card to you. The money comes directly out of a checking or savings account.

The advantage to having a credit debit card over a regular debit card is that the credit debit card is accepted ANYWHERE a regular credit card is accepted. While debit cards are getting accepted at more places then they used to be, you would still find a limit to where you can use your debit card to make a purchase.

Visa Credit Cards

The advantage to using a visa credit card is that you are not limited to the amount of money you have in your bank account but rather by how much the credit card company is comfortable with lending you.

The disadvantage to using a Visa credit card is that the credit check is harder to pass. Banks do not mind you using a credit debit card because this is like using a debit card. There is no risk to them like there is if you are using a regular credit card. You can also run up a credit card balance easily with a regular credit card if you do not pay off what you owe each month.

Credit Debit Cards

The advantage to using credit debit cards is:

You will not ever run up a credit card balance using your credit debit card. You might run out of money but at least you will not end up in debt up to your ears.

You can usually qualify for a credit debit card as long as you are a member

The limitation to credit debit cards is as follows:

What you want to purchase is limited to what you have in your bank account. Therefore, if you really, really have to have that new couch, you are going to have to save up for it the old-fashioned way if you want to use your credit debit card.

Credit Debit Cards will not usually let you go over what you have in your savings account, not even for a little bit the way some credit cards will let you do. This can be embarrassing at the least convenient times.

Credit Debit Cards are not offered as conveniently as regular credit cards. For example, only Ulster Bank offers Visa Credit Debit Cards in Ireland currently.

Peter Carville is a freelance article writer who writes for Financial Facts about the current financial news and the credit crunch.
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