Hot answers tagged

53

You can simply use them to pay in a supermarket or anywhere else. Just give them the card and say ‘put 1.23$ on this one please, and the rest I pay cash‘ or whatever. They might be annoyed when you have really many, but you can use up one every time you shop easily. For some cards, you do not even have to know the remaining amount, just say use it up. Note ...


49

Other Visa or Mastercards are either credit cards, or debit cards associated with a bank account with an overdraft facility. There is a high probability that a transaction will be honoured even if there is no bank connectivity at the time of the transaction. Electron and Maestro cards have no overdraft facility behind them. They could be prepaid cards, or ...


38

"electronic use only" cards can only be used by vendors that can instantly verify and authorize the purchase, which is most vendors these days, but there will be some exceptions: vendors that use old "batch" style processing vendors that "copy" the embossed numbers using carbon slips (very rare now) offline purchases (e.g. on a plane) The problem is you ...


31

I had a good half dozen of these with various amounts, none of them quite enough to make a purchase anywhere and, like you, I didn't want them to go to waste. If there is at least $1 on the card, you can use it to buy Amazon eGift cards, which is what I did. It's not as nice having actual cash, but for me it was the next best thing. You can also use them ...


14

Yes, you can usually deposit/pay money into a credit card account in advance. They'll use it to pay any open debt; if there's money left over they'll carry it as a credit towards future changes. ("Usually" added in response to comments that some folks have been unable to do this -- though whether that was really policy or just limitation if web interface ...


14

When you use a card, there are usually two phases in the transaction: Authorisation, where you (the merchant) ask if you can charge amount X on the card, and the issuer will tell you yes or no, and if yes, you are more or less guaranteed that you will get that amount once you charge it (with all sorts of caveats). Note that you can later charge a lower ...


12

I can't say for any country, but at least for several banks in Russia, the difference is how transactions are processed if they are nominated in different currency than the card [and both are different from the local currency of your bank's country]. E.g. when you pay for something in GBP (and the shop charges in GBP), while your card is in CHF. For ...


11

Yes, and Amazon advertises this feature.


10

On Indian cards Verified by visa comes only for Indian sites as RBI has mandated by regulation. However foreign sites need not be governed by Indian laws. Depending on the site you can request for cancellation and get a refund. If you dispute with your card issuer, it would be very difficult to explain what you have said. Edits: Can this be ...


9

In the United States there are 3 main types of cards. ATM cards. They are used at cash machines, and are linked to your bank account. The only requirement is a bank account. There is no credit check needed. Debit cards. They can be used at cash machines. These are linked to a bank account. No credit check is needed. The big difference is that they carry the ...


8

The short answer is that it probably doesn't matter if you select Visa or MasterCard. Both offer contactless payments (and in Europe, too) and are widely accepted. The longer answer is that Visa and MasterCard are separate payment networks. While most merchants that accept one will accept both, that is not always the case, and there are some differences, ...


8

PC MasterCard recently added this as a new feature to their online system. It lets you see "Pending Authorizations" for your card when you log in. Their email said: Along with your purchases, you'll see a list of every transaction that's been approved, but not yet applied to your balance. You'll be able to identify these with the word “Pending” in the ...


8

It is the people who you bought the ticket from. Blocking is frequently done by hotels, gas stations, or rental car companies. Also, for anything where the credit card might be used to cover any damages or charges you might incur later as part of the transaction. In essence, they are reserving part of your credit limit, ostensibly to cover charges they ...


8

This is the electronic/online use only (Maestro, VISA Electron) card vs. traditional (offline transactions allowed) difference. With traditional cards one can get an imprint and claim the transaction using this imprint later. They are also called embossed cards because the letters and numbers are embossed to allow this imprinting. One can also use the number ...


7

Mastercard and Visa are networks, your issuer is a bank who is participating in the network. It is definitely advisable to have a couple of cards from different issuers, but having different networks is not as critical. The reason I think it is useful to have cards from different issuers is that if a system of one issuer is down - you don't get stuck ...


6

Disclaimer: Answer based on a comment conversation In the context of consulting firms, non-solicitation clauses and MOUs are generally done to protect the firms' assets (read: its workers), and are in place to prevent clients from poaching workers from the consulting firms. They do not prohibit a client from seeking the services of a competitor. Since that'...


6

AIUI this is not terribly abnormal. There are authorisations (sometimes reffered to as "pending charges" or "holds") and actual charges. An authorisation reserves money but doesn't actually take it. Normally what happens when you pay by card is that the merchant gets an authorisation immediately. Then some time later the authorisation is converted into an ...


6

A lease is stronger than a normal contract as it is an interest in land. The lease provides the tenant with an exclusive right over that land in exchange for the monthly rent. The landlord can sue the tenant for the rent regardless of whether the tenant is able to use the apartment or not. After receiving a judgment from the court that the tenant has to ...


6

This sounds like a scam to me. The first 6 digits of a Visa card number identify the issuing bank, who they can now call, and armed with the other identifying information you have given them, can try to social engineer into transferring money out of your accounts. You should look in a reputable Canadian phone directory for the main office number for the ...


5

The request to block the money is made by the Party who sells the product. Based on this request the Bank blocks the funds. Subsequently the Party who sold the product makes a charge against this block. Just to give an easy example; You Check into a Hotel, as the total amount is not know, the Hotel first sends a Block request to block some funds. The Bank ...


5

It is not true. They don't chose rates, the rates are dependent on the contracts between the Visa/Mastercard and the members (banks issuing and clearing the cards and transactions). There may in fact be two conversions: one is from the original currency to USD/EUR, and the other from the USD/EUR to the target (your home) currency. If your home currency is ...


5

Payment processors get a fee when you make a payment through their system. So by encouraging you to use their cards more, they make more money. In the specific case of contactless cards, they see an opportunity to grow their market by displacing cash payments. So they're advertising it heavily to help that along.


5

Spend them at the gas pump. Just run the pump until it stops, then repeat with next card. That's always worked for me


5

In general, payments will be in the currency denominated by the seller. Your bank will automatically convert a balance of INR from your card to whichever currency you chose to pay in (be it USD or EUR) based on the bank's current exchange rate of that currency pair and some currency exchange fees will be charged on top. Fees involved is something only your ...


4

With regard to your edit (although I didn't downvote): one way to reduce the security risk is to separate the payment from the ability to drain your account. A considerable part of the security risk is inherent in giving people a number which is directly linked to a bank account where you keep all your money. If you don't want that risk, don't do that. ...


4

There are, in fact, two balances kept for your account by most banks that have to comply with common convenience banking laws. The first is your actual balance; it is simply the sum total of all deposits and withdrawals that have cleared the account; that is, both your bank and the bank from which the deposit came or to which the payment will go have ...


4

It's not so much a credit card, but a financial institution's online platform that either provides this functionality or not. The following Canadian financial institutions show an itemized list of pre-authorized transactions (not an exhaustive list): RBC Online Banking (both personal and business). PC Financial. The following institutions show a total ...


4

In those cases where the checkout boxes don't always ask (which many do), they typically ask based on the BIN (the first six digits, or really the second through sixth digit, which is the (formerly) Bank Identification Number, now called the IIN - Issuer Identification Number. It's not based on asking the bank and getting an answer, just based on a database ...


4

This would not affect your credit score at all. The claim itself, if made against your visa card rather than your car insurance, shouldn't directly affect your car insurance rates. However, if you were at-fault, you'll likely have to report that to your insurance agency and they may raise your rates as a result of that.


4

The only time the utilization percentage makes a difference is when the data is being pulled for a credit check. During the months leading up to the loan application through the settlement date of the loan keeping this percentage low makes sense. The number reported is the current value of the ratio not an average. You can pre-fund the credit card but don'...


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