by v12 » Tue Jan 02, 2018 10:51 am
antiparasite wrote:v12 wrote:My Canadia bank ATM card expired a few months ago. And the new one does have the Visa logo's on it, suggesting it's a credit card. TBH, I do think, it's a factual debit card with direct debit. I think, Visa provides the cards to Canadia bank, with the corresponding savings for the bank (And the customer footprint gain for Visa).
The usual "credit card", is effectively not a credit card, though a charge card, where you do have to pay the debit amount every month. Only once you don't pay every month and you start building up a debit status with the CC company, your card gets a credit status (or not, if you're not granted the debit status .....).
I don't like the Visa status for the ATM card, since it will be tempting for the in-laws, to start using their ATM card for shop spendings, they don't have the resources for and they run out of money, before new money comes in.
You must be American because these are people who struggle so hard to understand simple things.
Fortunately not, I am from a better continent.
antiparasite wrote:There is no such thing as the nonsense you wrote above about "building up a debit status with the CC company".
Apologies, should be "credit".
antiparasite wrote:It's simple and let me educate you: a credit card is linked to money loaned to you, thus the term "credit". A debit card is linked to money debited from a settlement account linked to that card. Debit and credit are different!
With a debit card, no credit is extended to you whilst with a credit card, you are using a credit line extended to you by a financial institution!
I'm so tired of Americans presenting themselves as intelligent when most of them seem to struggle with simple concepts!
Let me educate you: There are debit cards, charge cards and credit cards.
What people usually consider "credit cards", are "charge cards", which implies, you have to pay off the total each month. If you don't do so, you more or less automatically move to "credit card", and pay the corresponding high interest. If you don't get a credit limit, your card gets blocked.
Most Cambodian "credit cards", are factually "debit cards", the amount you spent is direct written off your account, the moment your accounts goes below zero, the "debit card" stops working.
[quote="antiparasite"][quote="v12"]My Canadia bank ATM card expired a few months ago. And the new one does have the Visa logo's on it, suggesting it's a credit card. TBH, I do think, it's a factual debit card with direct debit. I think, Visa provides the cards to Canadia bank, with the corresponding savings for the bank (And the customer footprint gain for Visa).
The usual "credit card", is effectively not a credit card, though a charge card, where you do have to pay the debit amount every month. Only once you don't pay every month and you start building up a debit status with the CC company, your card gets a credit status (or not, if you're not granted the debit status .....).
I don't like the Visa status for the ATM card, since it will be tempting for the in-laws, to start using their ATM card for shop spendings, they don't have the resources for and they run out of money, before new money comes in.[/quote]
You must be American because these are people who struggle so hard to understand simple things. [/quote]
Fortunately not, I am from a better continent.
[quote="antiparasite"]There is no such thing as the nonsense you wrote above about "building up a debit status with the CC company". [/quote]
Apologies, should be "credit".
[quote="antiparasite"]It's simple and let me educate you: a credit card is linked to money loaned to you, thus the term "credit". A debit card is linked to money debited from a settlement account linked to that card. Debit and credit are different!
With a debit card, no credit is extended to you whilst with a credit card, you are using a credit line extended to you by a financial institution!
I'm so tired of Americans presenting themselves as intelligent when most of them seem to struggle with simple concepts![/quote]
Let me educate you: There are debit cards, charge cards and credit cards.
What people usually consider "credit cards", are "charge cards", which implies, you have to pay off the total each month. If you don't do so, you more or less automatically move to "credit card", and pay the corresponding high interest. If you don't get a credit limit, your card gets blocked.
Most Cambodian "credit cards", are factually "debit cards", the amount you spent is direct written off your account, the moment your accounts goes below zero, the "debit card" stops working.