People hardly rush to withdraw huge sums of money to make their wallets heavy before travel now. If making the luggage light by packing light and reusable items is the trend, then taking digital money safely deposited in the ATM machines, readily withdrawn anywhere you go is the trend in packing wallets. The trend has intensified with the surge in the type and use of banking cards for the use of every section of customers.
Card type determine the rage of uses
Releasing new forms of payment cards with different applications are practiced faithfully by the banks since the digitalization for the convenience and safety it has brought into banking.
Debit cards: The most common form of digital cash, synonymous to wallet companion of all customers with a bank account, debit cards range in nature, benefits and limits. To read the variants in debit cards, look at this site linking to their respective features.
Credit cards: For extending the limit of purchasing power of customers, credit cards are issued with a shopping limit of a set cut-off with which payments can be done as an advance amount against the credit history of the customer. Even if you do not have money saved in your bank account, you can go for the purchase with repayment to the bank scheduled at a later date.
Shopping cards: Acting as a quick ticket to purchase from selected e-commerce sites, shopping cards are used exclusively for paying for online shopping and is a specialized form of credit cards.
Gift cards: For an easy and enhanced purchasing power, customers are issued gift cards that hold a stored value and are used as payment alternatives to cash to shop from listed centers. Gift cards usually form a part of promotional offers or as a marketing strategy to promote a higher degree product like new brands or labels.
Fleet card: Also known as fuel card, it is a type of card used for payments at fuel refilling stations including those that sell petrol, gas, diesel, thermal power etc. the concept is that for customers who are mobile, the trouble of withdrawing and carrying cash throughout the journey for paying maintenance and recharging services are negated with fleet cards.
Stored-value cards: These cards have a finite sum of money stored in them, physically as a defined value or data and are accessed by swiping the magnetic stripes or entering the codes depicting the value.
Charge card: It is a kind of loan for a shorter duration of within one or two months after which the complete payment has to be made without any interest. Charge cards allow shopping freely without the worry of limitations, provided you have the means to repay it by the prescribed date.