Mimi asked in Business & FinanceCredit · 1 decade ago

Visa's use?

I'm old fashion and my daughters laugh at me for not knowing anything modern. Can someone explain to me the use of a Visa card?

Thanks.

11 Answers

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  • AE N
    Lv 5
    1 decade ago
    Favorite Answer

    Instead of paying for an item or service by barter or cash. Visa is a credit card. Basically Visa lends you the money to purchase something. In turn you can repay visa in the future at a predetermined date. You might have to pay interest for borrowing that money. But if you repay prior to the due date, you will not have additional finance charges.

  • 1 decade ago

    YOu're not old fashioned. You're smart. Don't ever use a Visa card. It is a little piece of plastic that lets you spend money you don't have. YOu hand it to the clerk when you make a purchase and that puts a charge for that amount on your Visa bill. At a certain time every month, you will receive a bill from them and you may either make a minimum payment and be charged a ridiculous amount of interest on the remaining balance or you can pay off the whole amount charged each month. More often than not, people get behind on payments. Late fees are huge. Interest is enormous. The average american owes a small fortune to credit card companies so you shouldn't feel stupid for not knowing how to use one. You should be thrilled!

  • 1 decade ago

    you can apply for visa cards in almost all banks, chain stores financial institutions, etc. if you got one already, then you can use that card to purchase, or withdraw cash, then you will be billed per month by the bank or whomever the issuer of the card is. there is a minimum monthly payment, and the remaining credit will have a very high interest rate, so its's better to pay all the money you owed every billing, but the cash you withdrew from your card will earn an interest the day you withdrew from your card, so beware because they will be charging you not less than 18 percent per year. hth

  • 1 decade ago

    Its like making a small loan through the card. You pay it at the end of the month and no fees are added...(usually). Wait until about a month later and there is a charge for not paying it back right away. Around 40 bucks.

    Be warned this thing can make or break your credit.

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  • 1 decade ago

    Visa credit cards aren't really a modern invention. They've been around a long time. You swipe the card if in a store or put in your info and number if using it online, by paper, or by phone.

  • 1 decade ago

    Depends whether it is a debit card or a credit card...a debit card the money comes out of your account at time of purchase...like writing a check only quicker...a credit card you have a limit which is an amount you can buy things with...like a loan...you pay it back either in minimum monthly payments or all at once(and every amount in between at your discretion)

  • 1 decade ago

    One of the payment chanelliser for Credit card operating banks in simple language. It is the one where the whole world of HAVES OWE THEM A LOT. It is used to buy wrongs things at the right time to make you regret for long time

  • 1 decade ago

    You could either be refering to a credit card which can be used anywhere (BESIDES Texas A&M University-long story) or the card a foreiner must have to live in the US legally.

  • Anonymous
    1 decade ago

    They come in credit and debit.

    Debit comes out of your checking account and credit is charged and you are charged a interest fee. You pay that off in payments or all at once when the bill comes.

  • Anonymous
    1 decade ago

    to make a purchase at a store with your id and you don't have to carry cash. You just make the minimum to maximum payments per month and it draws interest so make sure you read the agreement and the contract first before you sign up and also you might want to get one thats low in interest rates.

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