Debit and Credit Cards


International debit and credit cards are one of the most popular forms of payment in most countries and can be used anywhere if their respective logo (such as Visa or Mastercard) is recognised. Whether you are new to plastic cards or already own one or two, you will find some important tips in this portal on what to look out for and what to do when things go wrong.

These cards allow users to pay for goods and services virtually anywhere in the world, easily and conveniently, and can provide an alternative to cash and cheques. Whilst a debit card will only permit the cardholder to make transactions against a sustainable balance in the account, a credit card will allow the buying of goods and services now to then pay at a later stage. If the latter is chosen, the cardholder will receive a statement each month showing how much was spent and the minimum amount which at least has to be paid. The card issuer will charge a rate of interest each month on the outstanding balance.

Providers also offer credit cards in the form of premium cards which are often referred to by their common jargon – be it gold, platinum or other “high benefit” cards. These are often offered in the form of a bundle to entice purchase. Most benefits revolve around the provision of typically higher credit limits for applicants, complimentary travel insurance, purchase protection insurance, earning of air mileage points and emergency assistance for travellers amongst other benefits.

Main cardholders may accept that providers issue additional/supplementary cards to include individuals beyond spouses. However if a third party is to be a supplementary cardholder, the account holder must signify acceptance to this effect.

Last updated: Sep 07, 2016