| Product: |
Visa Electron |
| Date: |
28/04/06 (6924 review reads) |
| Rating: |
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Advantages: You will never be in the red!
Disadvantages: Not accepted everywhere.
I have used a visa electron for the past 5 years, and I find it easier to manage than a normal visa. The great news is that the Visa Electron looks like a normal Visa with a chip and PIN.
But let’s get to the point: with a visa electron you are not untitled to any overdraft. The money you spend or withdraw is automatically deducted from your account straight away, so there are no bad surprises at the end of the month. If you want to purchase something make sure you have enough in your account otherwise the transaction will not be accepted.
It taught me to manage my account and to not overspend and yes it was hard at the beginning with all the bills to pay, the rent, travel… but I am so glad I do not to live on any loans or credit card.
The visa electron is widely accepted in shops (H&M, Tiffany’s and Co, Sainsbury’s… the list is endless) and restaurants. They usually display the visa electron logo (which looks like a normal visa blue logo with ELECTRON written on it, very easy to spot). However, I had a few embarrassments in the past at the cashier so my advice is to ask at the till first if they accept the card! (I know for a fact that, Boots, for example doesn’t accept it.)
With a Visa Electron you can also purchase online. The major electronic outlets accept the card (Ebay, Paypal, LastMinute.com, Ryanair, Amazon to name a few) but then again check if they display the Visa Electron logo. British Airways for example do not accept the card. The good news though is that you can use your card everywhere in Europe, from buying goods to withdraw cash at any cash point.
Here are some of the countries I know for sure they accept the Electron: Sweden, France, Germany, Andorra, Spain, Scotland, Italy, and Netherlands.
If you are interested in a Visa Electron, talk to your bank, they all mostly do it (except Nationwide).
Overall it is a great card, sadly not accepted everywhere and not as flexible as a Visa card, but you will be sure to be in complete control of your finance. I think it is a great start for anyone who wants to open an account.
Then if your credit rating is improving, you can easily switch to a normal Visa. But then be careful!!
Summary: great card if you consider opening your first account!
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Last comments:
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- 24/06/06 I had an electron card thinking that it would stop me going overdrawn - humph! The electron is still in its infancy and is only really starting to beome accepted in more stores now. Problem is, half the staff in stores simply don't know whether or not it is accepted. There is also a bit of a stigma attached to these in that it is only given to people with really bad credit scores (it was at first, but quite a few people opt for them now). |
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- 16/05/06 I can't find anyone but Tesco's and a helicopter tourist firm in NYC that take this!!!
No-one who I've tried to pay bills with over the phone does.
I think it's useless. |
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- 30/04/06 Not sure I understand what you mean when you talk about the "account". Do you mean your bank current account or the Electron account? Is this the sort of card where you have to pre-load the card with money before you use it or is it just a sort of bank card, like the ones you can use in an ATM to get money out of your current account or to pay for things, with the money taken out of your current account there and then? |
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