Visa Debit and Credit Cards

VISA Debit and Credit Cards are issued through banks and other financial institutions. With the exception of certain specialty cards such as Health Benefits Cards and Purchasing Cards, any card bearing the VISA Logo can be accepted as payment at any business that has a merchant account.

Debit Card

Although VISA debit cards offer the same level of convenience as credit cards, they work differently. A debit card takes funds directly out of your bank account at the time of the purchase. Initially, they place a hold on the amount of the purchase. In the next step, the merchant sends the transaction to their bank. It may take a few days for it to hit the merchant’s account. And the hold may be released before the transaction goes through.

You need to have a personal identification number (PIN) to use a debit card at ATMs and for most purchases.  Nowadays, however, some merchants accept debit cards without a PIN.

Credit Card

VISA credit cards allow you to borrow money against a line of credit set by the credit card issuer. When you use your VISA card for transactions, they are reflected on your monthly bill. In the meantime, the bank reimburses the merchant. When you receive your VISA bill, you pay the bank for the purchases. Credit cards are different from debit cards because you will be charged interest on any purchases not paid in full by the end of the month.