Cards in USA:
Cards are the replacement of Raw Cash which are available in many ways. Introducing Cards is the big step for Digital transformation. Below are some featured cards and there usage
What is a Credit Card?
Credit card a plastic card with a magnetic stripe that holds a machine readable code. Main usage of this type of card is to spend amount first and pay later.
What is Debit Card?
This card is operable only if you have balance in your bank account. Simply Debit cards are the link to do digital transactions from your bank account. They are mostly used at ATM's where we can withdraw money using our Debit card.
What is a prepaid card?
A card issued by a Bank or a Financial Organization which is already loaded with funds that have already been paid and is used like a normal credit card. The only difference for normal credit card and prepaid card is we pay bill for credit card but not for prepaid cards as they have been already paid. In simple understanding prepaid cards are as prepaid recharge type.
What are Gold and Platinum cards?
These are also the types of credit cards which are issued to people with a high credit rating and giving lots of benefits which are not available with normal credit cards.