How I Can Withdraw Money from my Visa or MasterCard Credit Card at an ATM

Nowadays it is common to have one or more debit cards. This contains the amount of money that is certainly yours, the limits of these are set by you when placing your money in this account. That is to say, you can’t spend more of what you have available.

90% of people have debit cards, however, it is not the same amount that has a credit card. Well, as its name explains, it is based on, practically, borrow money from the bank, which will be charged with interest from the day of use until the day of full payment.

For this reason it is more complex and difficult to obtain one, since more data and paperwork are needed, since the bank is the one who will lend you the money which you will return with a interest percentage. It is not always good to agree to make payments with it. You must be very clear about your money income to ensure the payment of it. We do not want to have problems with financial institutions in the future. It is mostly used in emergencies.

What is a credit card and how to get one?

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A credit card is basically a rectangular piece of about 8.5 centimeters by 5.5 centimeters. With a built-in band or chip, which works as data logger, allowing to control its use. It is issued by a bank in the name of a person, who can afford to spend money from it, without having to have it at the time.

different types of credit cards

This works like a credit or money loan provided by the entity or institution that issued the card. The payment of the same and the interest percentage will be agreed at the time of get credit card.

The first credit card accepted in many establishments was issued in 1950, since previously it was only used in companies to prove salaries and carry out other simple operations within the same company.

The requirements to obtain a credit card vary between banks, but the essential is be of legal age, then the second most important, is to have a constant income of money. This will ensure the bank the payment of your credits without fail. And then it only remains to fill out the paperwork requested by the issuing bank.

How do I withdraw money from the ATM with my credit card?

It is not highly recommended to make constant use of credit cards at ATMs, as they are debts that accumulate. And although at first they may seem insignificant to us, if we do some mathematical calculations we will realize that certainly if are significant quantities.

And this without taking into account that we can defer some payment for some circumstance, which means an increase in your debts.

customer paying with credit card

This does not mean that we cannot or should not make money withdrawals with our credit card, this means that we must be very careful about how much are we going to withdraw, calculate the percentage of interest that we will have to pay for that, and take care not to exceed our stipulated limit to pay the credit card, avoiding future problems with the card issuing entity.

Types of credit cards

It is true that they exist various types of credit cards. These vary according to the type of payment at the time of canceling the debt, according to the issuer of the credit card and according to its advantages.

In general, people go to their regular bank to apply for a credit card. Well, this one already more or less, has knowledge about your income and will surely offer you some good options that are suitable for your payment system.

You can also opt for one of the most popular, which is the VISA. This offers you multiple services inside and outside your country, as well as an extended warranty and purchase protection.

Another one that is almost as popular as this one, is the MASTERCARD, it offers the same benefits inside and outside your country, but the most marked advantage is that with this credit card when dealing with social events, concerts, museums, among others, you can get Discounts and promotions.

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