wht is th diff b/w master,debit,atm & visa card.?

Question

i m little bit confus plz help me and wht is credit rating?

Answer 1

Master card and Visa are borrowing $$$ you don't have and will be paying extra in interest on later .
Debit cards just withdraw your $$$$ from your bank account .
The ATM ( Automatic Teller Machine) will often process both debit & credit cards ,
Although some people use the term ATM for their debit cards .

Credit rating ( also called FICO score ) is explained very well by wiki

http://en.wikipedia.org/wiki/FICO_score

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Answer 2

Master Card and Visa are two major credit card companies in which you can purchase things on credit. An ATM/debit card replaces the use of a check and the money comes out of your checking account with the use of it. Some ATM cards have a Visa logo which may be confusing, but it is only on there to allow the bank transaction to occur.
Your credit rating goes higher as long as you show your ability to keep up with payments you have to make without having them go delinquent (late) in status. Once a payment is late, it is reported negatively to the major credit bureaus (Equifax, Experian, etc.) These include credit card payments, car payments, mortgages, and other things such as cable company/satellite company, Radio Shack, major department store revolving credit, etc. Keeping establised good credit is very important when attempting to get major loans for a home, car or business.

Answer 3

Mastercard and Visa are brand names. You will find their logo on credit cards and debit cards.

An ATM card is a debit card that can only be used at ATM machines. It requires a PIN number. It pulls money directly out of your bank account.

A debit card (usually has a Mastercard or Visa logo) can be used at ATM machines or any place that accepts Mastercard or Visa. You can process transactions using your PIN number (as a debit card) or using your signature (as a credit card). Either process still pulls money directly from your bank account.

A credit cards is a line of credit. You make charges, get a monthly statement, and make payments.

Answer 4

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