Do You Really Need A Visa Debit Card?

What Is A Visa Debit Card?

Published Date: September 23, 2012 ADawnJournal.com

Recently, I have noticed a steady stream of Visa debit ads as Canadian banks are trying hook up more clients with their comparatively new product, the Visa debit card. Today, I will discuss a few things about the Visa debit card.

The first thing you need to know is that although the name has Visa attached to it, the Visa debit card is not a credit card. Think of it as a bank card, but with international usability. A regular bank card issued by any bank becomes a worthless piece of plastic when you board a foreign-bound plane. However, a Visa debit card becomes your friend when you are in a foreign country.

You can make purchases around the globe with a Visa debit card – just like using a Visa credit card. However, the money comes out of your bank account instead of your credit card account. Visa debit card transactions are made through Visa’s network and protected by same security features and zero liability Visa offers like a Visa credit card.

Now the question may arise – why do you need a Visa debit card when you can use a credit card? Actually you don’t. If you have no problem paying your credit card bills on time in full, you may not need a Visa debit card. However, a Visa debit card is a good option for those who don’t want to deal with credit cards or do not have credit cards. Because money is coming out of your bank account directly, there is no question of ending up with credit card balances. You only buy what you can afford.

Although my bank mentioned that they will be sending me a new Visa debit card to replace my regular bank card, I will continue using a regular reward credit card when I travel outside Canada. And to carry a minimum numbers of cards, I will leave my Visa debit card at home.