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Dispute over whether my Mastercard is a debit or credit card!
I wanted to pay a UK travel agent in instalments for a holiday but each transaction attracted a 2.5% surcharge for credit cards. I argued my KBC Mastercard is a debit card (payment taken each month for full amount by KBC). The travel agent disputed this and refused to refund the surcharge. Now I've just bought a flight online and ticked "Mastercard debit" and the payment went through first time. Anyone else encountered a similar problem?
A debit card goes straight out of your current account.
(payment taken each month for full amount by KBC) implies it is a true credit card. These are charged differently to retailers, and some choose to surcharge.
Your KBC Mastercard is a credit card, regardless of how much you do or do not pay off every month.
yes. A debit card is exactly that... it debits your account immediately, like paying by Bancontact. If you pay at the end of the month, you are getting credit for 31 to 0 days. Hence "credit" card.
Yup, it's a credit card you pay off every month. Not really credit, is it?
If you bank with KBC their debit card is Bancontact. Mastercard is a credit card even though it is only truly an 'extended credit' card as long as you have to pay off the balance each month.
That is the 'default' for Belgian credit cards though you can always ask your bank to change the repayment rules so that you decide how much to repay each month. They decide on a case by case basis according to your financial history since you became a client.
You could also get a "prepaid Mastercard" at the post office
http://www.bpost.be/site/fr/residential/finance/bpaid/index.html
You could also get a "prepaid Mastercard" at the post office
http://www.bpost.be/site/fr/residential/finance/bpaid/index.html
