 Re: Cash/debit Card Customers
I hate to tell you this but that's not true. With the ERAC system you can authorize a debit just like you can a credit card but that is not the point of the discussion. Although a debit card can be used like a credit card it is not a credit card. It is a form of direct access to funds deposited into an account. Not a line of credit provoided through a credit company. Everyone seems to get hung up on the Visa logo. The Visa system simply provides the mechanism to charge the card. They do not issue it. Your bank does, again based on your checking account not an established line of credit. You can get overdraft protection on the debit card which touts itself as a line of credit but isn't. A debit card is issued without a credit check a credit card is issued only after a credit check. |