Visa Debit Cards
A Visa Debit card gives you the convenience of the Visa network without the dangers of getting into credit card debt.
There are many times when a Visa card comes in handy, especially with the popularity of online shopping which continues to grow. Purchasing concert tickets is another example where a credit card is vital.
Although virtually all bank cards issued in Australia have EFTPOS access, these are generally only useful when purchasing from a physical store where your card can be swiped.
Without a credit card it can be difficult to shop online or purchase event tickets over the phone, however there is a solution available with the Visa Debit card.
How Visa Debit works
A Visa Debit card works in a similar way to a normal Visa card, but instead of running up a credit card debt each purchase is simply debited from your linked savings account.
Most of the major Australian banks and credit unions have the option of linking a Visa Debit card to your everyday savings account, and a growing number of banks are now making the Visa Debit card the default option for new cards.
When making a purchase online or over the phone you will have a Visa number and expiry date to provide just like a normal credit card, and you can still make purchases in-store by presenting the card and entering your PIN.
Advantages of Visa Debit
A Visa Debit card gives you all the convenience of a traditional Visa credit card, but without the fear of running up a large credit card debt or affecting your credit rating.
For the growing number of people who enjoy online shopping, a Visa Debit card allows you to shop at your favourite online retailers without the concern that someone could steal your card details and create a large debt in your name.
You still have to careful with the security of your details however, as your card details could still give someone access to your savings. For this reason you should treat your debit card details just as you would any other credit card details.
For people who cannot be approved for a credit card due to poor credit history or other factors, a Visa Debit card is a great alternative since you do not have to go through the normal credit application process.
A Visa Debit card can be a great option for younger Australians who need the convenience of a Visa card, but who might not yet have the financial discipline to manage a proper credit card.
Applying for a Visa Debit
All of the major Australian banks and most of the credit unions and other financial institutions now how the Visa Debit option available to their customers.
Applying for a Visa Debit is usually as simple as calling or visiting your bank and requesting that a debit card be added to your account. Before you apply for your Visa Debit card check the latest information by clicking on the following link to compare debit cards.