Major Visa Credit Card Issuers – Will You Go With a Name You Can Trust or Take a Chance on an Unknown Quantity

If you are thinking of taking up a new credit card, there are many ways to safeguard you get the best deal. Whether you're considering one of the major visa credit card issuers or a smaller company, the only way to make your loan work for you is to investigate the terms and conditions before committing yourself.

Some people choose to take the easy option of visiting their local bank and signing up for the product most similar to the one they want, but, with a little research and planning online you can be virtually guaranteed of getting the product you want from one of the major visa credit card issuers other than your bank.

Before searching out any new credit product it's advisable to list the benefits you expect from your card so you can get the best match around. For example if you're suffering from a bad credit history you may be looking to improve your credit rating or if you fly often you may want to sign up with a card that has an air miles loyalty scheme attached to it. Once you have made your list of priorities it's always a good idea to check out your current credit rating with one of the online credit checkers before applying for any card. This service is free and takes no time, with only a simple form to fill in to get the information you need. Knowing what cards are within your reach in advance is beneficial to the application process as major credit card issuers will check with companies such as Equifax before accepting any application, and a rejection will register on your credit rating in the same way an acceptance would.

Once you are prepared for an application and know what you want from the product, the next step is to visit a credit comparison site to learn what products each of the major visa credit card issuers have within your remit. Comparison sites offer an independent means of research on most types of card, including those that are designed to build your credit rating and those for students. There are also helpful articles and in some cases even Podcasts relating to the products you are searching through so that you can be confident of knowing exactly what you're getting involved with. Reading these expert and third party opinions may take time out of the application process but will enable you to look at each product in the most even light. Cutting through the advertising and persuasive introductory offers, these sites and articles will make you aware of the pitfalls of credit cards as well as how to benefit most from the card you have chosen.

Making applications for credit cards online has the bonus of an instant decision, which saves time on waiting for a postal application to be processed and returned to you as well as the hassle of visiting your bank. Although some people are still nervous of giving their personal details online, all of the major credit card issuers have invested in secure software, which not only processes your application almost instantaneously but also encrypts your details at the same time. This means that even if you've never bought or applied for anything online before you can rest assured your details are safe and irretrievable to third parties.

Any type of credit card will only work best for you if you spend a little and pay back more than the minimum requirement. Ideally if you can repay the balance on time every month your credit rating will rocket, but since this is out of most peoples reach, consider how much the interest on your loan will be and how soon you think you'll be able to repay it. Major visa credit card issuers are looking for customers who are able to pay above the minimum, and will reward the usage of their product in this way.

Are visa credit cards leaving you confused? Nick Hardman, a freelance writer for Money-Now.co.uk, understands the language of credit cards. For further impartial advice about credit cards visit the FSA.

Will my credit cards (Visa and Master) work in Japan?

Hi! I am going to study in Japan for 6 weeks this summer, and I was wondering if my American credit cards will work there? Or should I just carry cash? Any tips and ideas about living in Japan would certainly help me a lot too! Thank you very much for your time!

Answer
Credit cards issued in the US work fine in Japan. However, before you leave for Japan, make sure to call your card issuer's customer service to let them know you will be out of country; otherwise, you may not be able to use your credit cards overseas. If they detect "unusual transactions" (e.g., transactions overseas), they may suspend your cards.

Although more merchants accept credit cards now than ever, Japan is still cash-oriented society. So, I would bring both credit cards and cash. As you may know, when you exchange money, they charge you a fee. So, plan carefully when you get yen; otherwise you would pay a fee again to convert it back to USD when you come back. In this sense, credit cards are easier. Your card issuer will bill you in USD (i.e., converted) along with a "foreign transaction fee," which is about 2.5%~3%. With credit cards, at least you would not have to convert yen back to USD, paying fees twice.

I'm from Japan, but I live in the US. When I visit my family in Japan, I use my credit cards for big purchases (e.g., hotel, Shinkansen), and use cash for small purchases (e.g., food, subway tickets). I was in Japan last month, and I used Amex since their fee was lower than what my Bank of America Visa would have charged.

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