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Highlights Of Visa Credit Cards

Visa Inc. is a financial institution operating worldwide, processing over 100 billion transactions every year. It has around 50% market share worldwide except China. The servers can handle up to 30,000 transactions per second and up to 100 billion computations per second. The data centers are protected from natural calamities, terrorism, and other calamities and can independently work without each other. Every transaction is checked with 500 variables with 100 fraud detection parameters including location and spending habits.

Visa is neither the card issuer nor extends credit or set rates and fees for the consumers rather provides financial institutions with a branded product of Visa. This product can be used as credit, debit or pre-paid cards along with cash access programs.

Basic Requirements for Credit Card Application

Age: The minimum age is 21 or 18 with parent’s permission or a verifiable source of income.
Social Security Number: A person applying for Credit Card needs to have social security number to check the creditworthiness. A person without a social security number is unlikely to get a credit card.
Source of Income: Credit Card Application ask for monthly income to assign you limits. This helps in determining your ability to pay back. Students might be eligible for student cards even if you are earning only a little.
Credit History: A credit history with a good credit score is always a positive point. Some issuers can go back 7 years to check your creditworthiness. However, the credit card companies are lenient with higher rates and fees. If you have a bad credit score, you can be issued secured credit card where the issuers can ask you to put $200-$1000 in advance in the account.

A typical form will contain Name, Age, DOB, Current Residence address your signature, authorized users of the card and balance transfers from other cards. Visa credit card applications can be applied on their website. The offers of the issuers are on their website and depending on your preference you can apply online for a credit card.

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