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The Difference Between The Colors Of ATM Cards

The difference between the colors of ATM cards is great, ATM cards are used in many financial transactions, whether by paying or buying products from the markets or from the Internet, as it has made it easier for individuals, and each type of card deals with a specific group in society, even students, so we will know to Find out the difference between the colors of ATM cards and all the information related to ATM cards through the Money Makers website .




The difference between the colors of ATM cards

In the current situation, most financial transactions have become through ATM cards, whether dealing in companies or dealing via the Internet in purchasing products or even paying the account in restaurants, where banks issue many ATM cards of various shapes and types, each type of them specializes in a particular thing, so we explain Learn the difference between the colors of ATM cards in the following:


1- Credit Cards

It is the most common type in use. You can use it in payments and purchases, knowing that there is a maximum limit for placing money in these cards, which comes with the name and number of the card holder, so the most popular types of credit cards are Visa Card, MasterCard, and Discover Card.


It is worth noting that these cards are a loan that the customer takes from the bank and he has to pay a certain amount per month with the addition of interest when the payment is delayed.


2- Debit Card

A direct debit card in which the purchase can be made by ATM machines. It is used in many banking transactions, especially in checks and cash transactions between individuals and some of them. It also allows you to purchase via the Internet.


Knowing that this visa is linked to the customer's bank account and should not be obtained in the absence of an account in the bank, and there are some banks that deduct fees from this card if it is used for online purchases.


3- Rewards Credit Card

We continue to talk about the difference between the colors of ATM cards, as this type of card is used in the rewards that individuals receive in the form of points from different credit cards.


As it contains many features that people can use to travel, buy products, stay in hotels, or convert points into money that can be withdrawn easily from ATMs.


4- Secured Credit Card

This card is obtained by people who have credit records for insurance, knowing that this card has a minimum amount equal to the money placed inside it, but deposits in this card must be placed in monthly installments in order to remain valid, as it is one of the distinctive cards for all customers of credit records.


5- Prepaid Card

When you use this type of bank card, you must put the money in it first, as it is not allowed to use it before placing the money. One of the important advantages of this card is that it does not require payment of fees for purchases because it is not linked to a bank account, you can get it easily without facing obstacles in addition to The possibility of purchasing via the Internet.


6- Charge Cards

Of the cards that require a credit history in order to obtain them, they do not have a maximum spending limit, but you must commit to paying the monthly installments because in the event of delay in paying the installments and the application of a high fine on the user, this card will be suspended and not used again, knowing that it does not require high fees .


7- Business Credit Card

In the context of talking about this type of card, it is obtained only by individuals who work in companies where no one else can obtain it, as it is intended for commercial transactions as well as personal transactions.


8- Student Credit Card

It is one of the types of cards used recently, as it is obtained by university students only who use it in financial transactions within the university. It can also be kept without fees, knowing that this card expires at the end of the university stage and cannot be used in online purchases.


9- Specific Purpose Limited Credit Card

In the context of talking about the difference between the colors of ATM cards, these cards are intended for limited purposes only and cannot be used outside the framework specified for them, as it is also specified for some sites that use payments through them, knowing that this card has financing fees.


10- ATM card

This card is used in a lot of transactions with automated teller machines (ATMs) in all different banks, so you can deposit, withdraw or transfer money through it, and pay your bills.


11- Smart Card

One of the newly issued cards that can deal electronically, as it records all the transactions that took place through it, whether through automated teller machines or banks, and accordingly, the credit line in it is reduced by the amount that the individual deals with, as it can be dealt with without the approval of the card issuer.


12- Affinity Card

This card is intended for a specific category only, which is the category of associations and social organizations, bearing in mind that an agreement must be made with these organizations in order to obtain the card, which requires paying a percentage of the transactions in which it is determined from the income of the card.


Credit card features

On the subject of the difference between the colors of ATM cards, these cards contain many advantages that can be known through the following points:

  • It is an easy and fast way in financial transactions, whether between individuals or when buying from the Internet.
  • Each group in the community is given a specific type of card in order to facilitate transactions.
  • It offers its customers many discounts and services on many products in the markets.
  • It eliminates the need to carry your money anywhere, especially when traveling.
  • You can withdraw money at any time you want through automated teller machines that are scattered all over the place.


Disadvantages of credit cards

After we have clarified the difference between the colors of ATM cards, we will now explain the defects that these cards contain. These defects can be summarized in the following points:

  1. Restrict dealing with specific products of specific types and quantities in all stores.
  2. The high fees you charge for purchases and payments.
  3. High interest when taking loans through it, which leads to the accumulation of debts on customers and disputes occur between him and the bank employee.
  4. Pay the purchases made using the card when the card is lost or stolen.