In the US, such a card is known as a "check card".
A check card is a debit card linked to a bank account but sporting a credit card logo and having an account number falling within the range allocated to the credit card brand. Charges made go against the bank account directly (and any line of credit which may be attached thereto).
You can use it in either debit or credit mode. In debit mode, you swipe and input your PIN, and the charge request, including the encrypted PIN, goes over the debit network to your bank, which debits your account in real time more or less. In credit mode, you merely swipe and sign, and the charge goes over the credit network, reaching your bank somewhat later. In neither case is it really a credit card, unless you have and use an attached line of credit. Most check cards don't have lines of credit.
Some years ago, my bank switched their ATM cards to check cards. When I got my new card and saw the Visa logo and read the brochure, I called the bank and asked if the card could be used to make payments without entering the PIN. When they said yes, I said I didn't want it. A couple of days later, a new card without the credit card feature arrived in my mail.
ATM cards are ATM cards. I use them to get folding money. I use credit cards only to buy stuff.
Cheque card sounds about right. Though the process seems to be entirely different for EMV cards.
e.g. Pin + Chip transactions can be stored offline and uploaded later so they don't necessarily go through in real time. Also, Swipe + PIN doesn't seem possible under EMV. It seems to be limited to Pin + Chip or Swipe + Signature or if you're down under Chip + Signature.
It seems to me that if a card can directly debit funds from your bank account, it is by definition a "debit card."
The value of a credit card is that I get to choose to pay the bill each month. If something goes wrong, the card issuer has to sort it out before they get my money.
- Pin & Chip EMV Visa Platinum
- Comes with a "Visa Facility", meaning it can go into the red
- Referred to as a "credit card" in the marketing brochures
- ATMs list it as a "credit card"
- 30 days interest free & does the whole minimum payment thing
- Money goes directly off the bank account
- One account...no moving money between credit card and bank account
- Fully banking functionality
- Has a credit component but doesn't show on my credit record at all
- Card keeps working after you hit the supposed facility limit
- Fraud dispute mechanism is similar to debit cards
I'd love to hear how the bank managed the above.
>I don't mean to imply you're a non-credit-worthy individual.
Haha. No worries. Its actually the most prestigious card issued in my country. (Until Amex brings their Black Centurion anyway).