Visa is a global payments technology company that provides digital currency services in over 200 countries and territories. The company started out as BankAmericard in 1958 and became officially known as Visa in 1976. According to its corporate website, there are more than 2.5 billion Visa credit cards in use in over 200 countries and territories worldwide. The company performed over 109 billion transactions in the last year alone. Visa’s corporate website offers 19 personal credit cards with various rates and perks for consumers to choose from.
- Benefits and features
- 24/7 customer service
- Mobile payments
Benefits and Features
Visa offers consumers a comprehensive package of benefits and features with its credit card offers. Traditional credit card benefits include lost/stolen card replacement, auto rental collision damage waiver, zero liability protection, and roadside dispatch. Signature benefits feature additional services such as a warranty manager service and travel and emergency services. Visa cards are secured with EMV chip-enabled technology for secure purchase transactions and online purchases are protected with Visa Checkout. Depending on card selection, customers can earn rewards such as cash back, travel perks, merchandise, gift cards, and more.
24/7 Customer Service
Customers can reach a customer service representative by phone 24/7 if any questions arise or if they need assistance with a credit card issue. A live chat option is available as well on the corporate website. Customers can also contact Visa by email and receive a response within 24 to 48 hours. The company also has an FAQ section that answers many questions customers frequently ask.
Customers are able to make payments and purchases directly from a payment-enabled smartphone, tablet, or wearable device. With retail merchants that offer the Contactless symbol at the cash register, users can simply swipe their phone to complete the transaction instead of having to pull out their credit card. Online purchases are also protected through Visa Checkout. Most transactions are securely protected against the possibility of hackers accessing sensitive financial information. In the unlikely event it does happen, zero liability protection helps provide coverage for any fraudulent unauthorized purchases.
- Undisclosed fees
- Limited financial education resources
Depending on card selection, APR can vary from 11.49 to 26.40 percent. These rates are especially high for consumers with excellent credit when compared to similar marketplace offerings. Various available credit card offers include a zero percent introductory APR on either purchases or balance transfers for up to 12 months. Interest rates for cash advances, balance transfers, and penalty APRs are not publicly disclosed upfront on the company’s corporate website. Consumers will have to click through each card link they are interested and be directed to other websites to get more specific details.
Interest surcharge fees for each card are not disclosed upfront on Visa’s corporate website. Balance transfer and cash advance transaction fees may vary from card to card, as well as foreign transaction fees and late or returned payment penalties. Customers will have to manually search through each separate offer they are interested in and be redirected to other websites in order to obtain detailed information. This can be a time-consuming and overwhelming process for many consumers because the company does not offer any search filters to narrow down available choices.
Limited Financial Education Resources
The company claims to offer numerous financial literacy programs around the world. However, its corporate website contains limited financial education resources. There are several articles on a wide range of topics, but there are no financial calculators or other resources for estimating monthly payments. The website may be difficult for some consumers to navigate and be able to find the information they are looking for. The company does not offer any other financial products or services to consumers outside of the available credit card offers.