Credit Cards can be issued from one of two sources:
- Banks which are part of the Visa or MasterCard Association.
- Non Bank entities- which represent corporate entities that provide credit services to their customers, such as American Express, Diner’s Club, Fuel/Fleet Companies, Department Stores, etc. These cards are part of an independent closed-network.
Each of these sources can offer different types of cards, including:
- A consumer credit card.
- Commercial/corporate or company cards.
- Purchasing cards.
- Rewards cards.
- Debit and check cards.
Debit/ATM cards are payment cards that debit –or subtract- money directly from a checking or savings account, as if the consumer were paying with cash or a check.
- Debit card/ATM cards can be used for purchases where merchants accept cards from various bank networks such as NYCE and STAR. A Personal Identification Number (PIN) is required for all transactions.
Check Cards are similar to debit cards in that they also deduct money directly from a checking or savings account. However, check cards also have access to the VISA Network and therefore display the VISA logo.
- Check Cards have the added convenience of being useable anywhere VISA is accepted. Cardholders can normally choose to either sign for the purchase or use their PIN.
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