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Visa Credit Cards
Perhaps the most popular network globally, Visa credit card offers are issued by close to 22 thousand different banks worldwide. The slogan "Life takes Visa," really holds true. Just about wherever you go, you will see the Visa logo displayed in storefronts, on atm machines, in restaurants, and just about everywhere you can think about where you can pay for something. Due to its global popularity, the brand continues to grow and there are different offers ranging from debit, prepaid, to credit cards.
Best Visa Card
It's more than likely that you already have either a Visa check card or debit card that is linked to your bank account. These are commonplace in most consumer wallets. Though extremely useful compared to personal checks or cash, they serve little purpose other than for convenience. By no means is this variety the best Visa card option. Part of the problem is that several of these cards have limits even if funds are available in the checking account they are synched with. For example, let's say that you were to go in to a store to make a major purchase like a new bed, complete with mattress. The cost of something like this could be conservatively close to $1000. In many cases, depending on the quality of both the furniture and mattress, it could be over $2000. Some Visa check cards, depending on the banking institution, have daily caps as low as $500. Others vary, but the point is that you don't want to go through the trouble of shopping for a bed or any other large item and then get all the way up to the cashier and have your card get declined, especially considering the fact that you may not have any checks or cash to cover the purchase. For times like these, it is vital to have a credit card as they are the best alternative form of payment option for large purchases.
So what is the best Visa card for purchases like the one mentioned above? It really depends on your situation. If you are planning on using the card for something that is unexpected and fairly costly that may be slightly out of the constraints of your present budget, you would benefit most by applying for a Visa card that limits the amount of interest that you may accrue if you are not able to pay off the balance immediately. In this case, a card with a 0% APR for purchases would also be the best Visa card for your needs.
If the use of your Visa is for convenience, or to eliminate the possibility of embarrassment, then you are in a completely different situation. If the money is there in the bank to pay-off the balance immediately then you will probably want to explore more options, like a Visa rewards card, meaning one that gives you either cashback, airline miles, or points when you make purchases. Almost all banks that offer Visa credit cards have a few that are tailored with these types of programs and are very beneficial when making large purchases. For example, a cashback rewards Visa that gives you 1-3% cashback on purchases saves you between $20 and $60 in the long run for a $2000 purchase. Though this seems small, over the course of a year if you use this card for all of your purchases, including gas and groceries, the savings really do add up.
Again, it's important to identify your financial situation first and foremost. Rewards programs should always be a second thought, taking a back seat to the interest rate. There are no Visa cards out there that offer rewards programs where the point or cashback accrual is greater than that of compound interest. Many consumer lose sight of this, and thus get themselves into financial trouble. If you can afford to make payments or pay the balance in full before the 0% intro APR term expires, then you should give the rewards program more weight in your decision making process. If not, though less appealing, the best Visa card is the one that will save you the most money until you are able to pay your balance off.
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