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Thread: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

  1. #81
    Senior Member josho's Avatar
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    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Simply to put in. Just get the Debit card, anyway you can use Nets or Mastercard. It will not go thru if your cash in the bank is low. Lets put it in this way, it is just a matter of monitoring. If you didnt check out the account of yours, the amt of money in your bank is unknown.

    It work almost the same way. It just the matter of signing and keying PIN. But for Debit Mastercard, they will send a letter of transaction end of the mth to go through what you spend on. For Nets, go to Internet Banking or whatever to check your transaction. If you know how to control, good. Credit card is one dangerous thing because you can swipe until you reach the credit limit up to 2 x of your pay (its never fun at all, a matter of controlling)

    Having a Debit Card on hand is fine as most of the ppl are carrying it. There's absolute no harm at all.Just for some rainy day purposes. Rem, a matter of controlling afterall.

  2. #82
    Member/Tangshooter zaxh81's Avatar
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    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Quote Originally Posted by compro_1975 View Post
    huh? i dun understand the second line....

    TFCD is not payment between the model and photog, but the rest is not FOC. will shoot for free with favourable good conditions
    TFCD is free,so you do only TFCD?
    So if people hire you,they cannot pay you by cheque?

  3. #83
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    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Quote Originally Posted by ortega View Post
    and if you are not smart enough to control it
    it will make you broke too

    i earn $$ from using my CC, got about $150 cash from the bank in the last 1 year

  4. #84

    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Quote Originally Posted by zaxh81 View Post
    TFCD is free,so you do only TFCD?
    So if people hire you,they cannot pay you by cheque?
    huh no link leh, same statement as bef and i still do not understand.
    Quote Originally Posted by compro_1975(sig)
    Providing Coverages For Events, Roadshows, TFCD & Concert
    Visit My Homepage Now
    TFCD is one for the services i provide. Does it mean that if i do TFCD, my client can not pay me becoz i do a event coverage for him/her? and yes, i do accept cheque/cash/bank transfer for my photography services. hope it clear your doubt if you are planning to hire me for your services.

    btw, there is also another pending post awaiting for you to reply too. i think pm too private liao, explain in the public mayb can share with other CSer your thoughts?
    here is the post:
    (your post) http://forums.clubsnap.org/showpost....3&postcount=44
    (my reply-post) http://forums.clubsnap.org/showpost....6&postcount=51

    Quote Originally Posted by compro_1975 View Post
    btw, zaxh81, could u explain your stand? i do need feedback to mayb change things i am doin wrongly now.
    hope you could enlighten me and mayb value me with the right values? tks in advance

  5. #85

    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Quote Originally Posted by Wai View Post
    i earn $$ from using my CC, got about $150 cash from the bank in the last 1 year
    wow, this is great man!

    Thank guys for your advises and warning of the possible traps . i appreciate them and do respond more if you want, as i think there are also other CSer wanting to know more about cards, since it is getting more and more heartlander these day, with ez-link-cum-credit card.

  6. #86
    Member/Tangshooter zaxh81's Avatar
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    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Quote Originally Posted by compro_1975 View Post
    huh no link leh, same statement as bef and i still do not understand.


    TFCD is one for the services i provide. Does it mean that if i do TFCD, my client can not pay me becoz i do a event coverage for him/her? and yes, i do accept cheque/cash/bank transfer for my photography services. hope it clear your doubt if you are planning to hire me for your services.

    btw, there is also another pending post awaiting for you to reply too. i think pm too private liao, explain in the public mayb can share with other CSer your thoughts?
    here is the post:
    (your post) http://forums.clubsnap.org/showpost....3&postcount=44
    (my reply-post) http://forums.clubsnap.org/showpost....6&postcount=51


    hope you could enlighten me and mayb value me with the right values? tks in advance
    What reply you want?i agree with him so you need to reflect on what he said.
    If you don't agree then no choice,i no money buy spoon.

  7. #87
    Member/Tangshooter zaxh81's Avatar
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    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Quote Originally Posted by compro_1975 View Post
    huh no link leh, same statement as bef and i still do not understand.
    i don't think i ever ask you anything about TFCD first but you reply me with that.
    i also see no link.
    Anything not related to this thread,please PM me.

  8. #88

    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Quote Originally Posted by zaxh81 View Post
    i don't think i ever ask you anything about TFCD first but you reply me with that.
    i also see no link.
    Anything not related to this thread,please PM me.
    can la, this thread also i start one, small chit-chat shouldn't be a problem .

    u started askin me something related to TFCD: http://forums.clubsnap.org/showpost....1&postcount=77 before this post there isn't any post of your so would wnt to know is my sig miss-leading? or what are you askin? well, i think having a feedback is a very good tool to communicate

  9. #89
    Member/Tangshooter zaxh81's Avatar
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    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Quote Originally Posted by compro_1975 View Post
    can la, this thread also i start one, small chit-chat shouldn't be a problem .

    u started askin me something related to TFCD: http://forums.clubsnap.org/showpost....1&postcount=77 before this post there isn't any post of your so would wnt to know is my sig miss-leading? or what are you askin? well, i think having a feedback is a very good tool to communicate
    i believe my reply was related to general,4 services and not just TFCD.Chit chat is OT liao,will kena ban lor,unless you want to overwrite the mod.
    We must show some respect,especially young ones.

  10. #90

    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Quote Originally Posted by zaxh81 View Post
    i believe my reply was related to general,4 services and not just TFCD.Chit chat is OT liao,will kena ban lor,unless you want to overwrite the mod.
    We must show some respect,especially young ones.
    like tat ar. ok then... pm me the replies lor. hope mod dun ban this as there is alot of good referrence value to those wanting to get a card....

  11. #91

    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Quote Originally Posted by matthew View Post
    Visa and Master card are clearing houses for transactions. When your Visa or Master card is swiped, unless the machine is from your bank (and maybe even then), the request goes to the bank the machine is connected to, which then sends the request to visa or mastercard. There may be 'floor limit' rules where small transactions are simply approved on the spot though.
    Visa/Mastercard then look at your transaction and may approve it then and there, or send a request to the 'issuing' bank for verification of the credit.

    The only different between a debit card and a credit card is back at the issuing bank. With the debit card you have to have the money in your account first - with the credit card the bank lends you the money. (And charges interest of course).

    The debit card is much like a Sigapore NETs are or what we in Australia call an EFT card, only the 'clearing' of the transaction is done via a local consortium and tends not to work across international borders - and like the Visa/Mastercard debit card you must have the money first.

    I can't walk into a Signapore shop hand them my Australian debit card and expect it to work though NETS. A NETS card isn't going to work in another country. But if I hand them my Visa Debit card, they can do that - as to the Merchant and the Singapore banks it's now a Visa Credit transaction.

    There is a related system called Cirrus and Maestro which are basicly the 'Debit' card end of Visa/Mastercard with international connectivity like the Credit card clearing systems. It's probably run by Visa/Mastercard using the same back end as their credit clearing system. It's not as well accepted as Visa/Mastercard. I can't use my Cirrus card in a NETS terminal for example. (I've tried :-). But a ATM cash machine will process the Cirrus card fine.

    One subtle point with Visa and international transactions, Visa reconcile all the international transactions in $USD. So for example you use your Singapore bank issued Visa in Australia - the Merchant sends the request to their bank in $AUS. The bank sends the request to Visa in $AUS (I think, it could be converted to $USD before being sent). Visa convert that to $USD and send the request to your bank, who converts it to $S before checking your balance.

    You lose due to the double conversion that happens each time, as the $AUS to $USD conversion rate is applied THEN the $USD to $S conversion rate. The rates generally have a little percentage built in for the 'handler'.

    I don't expect Mastercard to be any different.

    Some credit terminals also notice what country you are from and offer to do the transaction in your own currency instead of the local currency. Feeding the figures through a spreadsheet after my last trip showed this to be a very bad idea. (For me, the customer). The local bank creams off something like 2.5% fee for the conversion (i.e. printing the value in your home currency instead of the local one), but the Visa clearing system still hits you for the double conversion on an international transaction anyway. You might as well keep the transaction in the local currency. One less conversion.


    Banks are only slightly less criminal than casinos for separating people from their money. Casinos are at least honest about it :-)
    Thanks for you detail explaination. But really a debit card and credit card technically they are the same.

  12. #92

    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Credit Cards allowed you to pretend like a King.

    Fact: Cash is the real King.

  13. #93

    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Quote Originally Posted by ortega View Post
    it is a card that boosts your ego
    make you spend money that you don't have

    and if you are not smart enough to control it
    it will make you broke too

  14. #94

    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Quote Originally Posted by compro_1975 View Post
    what is the diff and what are the advantage and disadvantage??? what is it abt also?
    VISA is Very Intense Spending Act. Sucks your bank account dry dry
    Last edited by Sniper ShutterBug; 10th February 2007 at 09:58 AM.

  15. #95

    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Quote Originally Posted by Sniper ShutterBug View Post
    VISA is Very Intense Spending Act. Sucks your bank account dry dry
    Actually the issue is not with the card but with the person using it. It is a great tools when you are overseas or if you do not want to bring out huge cash. But if the card owner abuse it...

  16. #96
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    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Quote Originally Posted by compro_1975 View Post
    wow, this is great man!

    Thank guys for your advises and warning of the possible traps . i appreciate them and do respond more if you want, as i think there are also other CSer wanting to know more about cards, since it is getting more and more heartlander these day, with ez-link-cum-credit card.
    aiya...you want just go apply the card la...no one will stop u...anything just ask the bank la...they can give u better ans...

  17. #97
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    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Quote Originally Posted by compro_1975 View Post
    like tat ar. ok then... pm me the replies lor. hope mod dun ban this as there is alot of good referrence value to those wanting to get a card....
    if they really want a card they will go call the bank...the reply is faster...u think everyone wants a card come CS and see meh...kaoz...

  18. #98

    Default Re: wat is VISA and Mastercard??? wat is it use for and wat is it abt?

    Quote Originally Posted by Sniper ShutterBug View Post
    VISA is Very Intense Spending Act. Sucks your bank account dry dry
    , me rike this statement also.... anyway got my card liao, and very soon it would be BBB season! relax guys, i would remember your advises: CONTROL!!!! how can i stop myself from help the economy??? Happy Lunar New Year To All!!! and more advises are welcome

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