Credit card cheaper or not? Is paying with the credit card cheaper or not? Credit card is the most popular payment method in the world. This of course because the credit card can be used worldwide as a payment method.
VISA and MasterCard
The two most popular brands of credit cards are VISA and MasterCard. You can go to your own bank to have a VISA or MasterCard. Advantages of a credit card are that you can pay afterwards and that your purchases are insured for a longer period (on average 6 months). You can also easily track your credit card transactions online. This is nowadays almost the same as regular banking.
The paying party has the option of reversing the transaction for a considerable time. They call this a chargeback. Furthermore, web shops / websites that offer a (direct) credit card payment option are often reliable because the owner of the website / web shop must meet strict requirements in order to accept credit card payments. Well, this of course does not offer a 100% guarantee.
Always be aware of who you give the credit card details to. The disadvantage of the credit card is that you must pay a certain percentage per transaction. Therefore always compare several credit card providers to find out which one is the cheapest. Buying a credit card abroad? First inform which credit card brands are accepted there. Although the coverage is huge, it is possible that a certain “brand” is not accepted.
A credit card transaction is by definition not a guaranteed transaction. This means that the cardholder can carry out a chargeback via his own bank. This means that the paying party wants the money back and gives the bank the order for the chargeback. As soon as the bank accepts your chargeback, the money will be reclaimed from the receiving party. As previously indicated, credit card transactions are insured for 6 months. This also means that you have 6 months to cancel the transaction.