Revolving credit cards
As we have seen through these pages, revolving credit exists today mainly in two forms; that allowing the transfer of funds from the money reserve to the bank account, and that, more practical and more reactive, consisting in using the sums made available in revolving credit by the use of the credit card, thanks to the 'on credit' option.
And so it is this second way that we are going to talk here. Indeed, if many financing companies still favor the traditional system, banking establishments have opted mainly for the credit card option. Among the banks mentioned on this site, all, without exception, promote this behavior. It is true that it is much simpler and less anxiety-provoking, to know that one has funds immediately, even if one knows that it will be necessary to pay interest on the sums used, in the event of serious unforeseen or requiring immediate reaction.
What are revolving credit cards?
First of all, it should be understood that these blue cards work like conventional credit cards. Whether it is Visa or Mastercard, they have exactly the same functions. In addition to payment and withdrawal, the insurance included with the subscription of these credit cards are as complete in their version backed by revolving credit, as in their normal version.
In fact, these cards have one more trick. Thanks to an option or a (free) extension taken out with your advisor, you can then pay or withdraw money on credit. Thus, the funds will not be debited from the current account, but from the revolving credit account. And the sums debited there will give rise to the withdrawal of monthly payments from your current account, so as to replenish the money reserve.
Among the establishments we have spoken of, almost all therefore have their credit card option. The Bank Popular and the Savings Bank offer exactly the same services, with their Bridgepayday and Izicarte cards. It must be said that the two entities are grouped within the BPCE group, and it is very logical to find identical products in each of them, marketed under a different name. It even goes as far as the pun surrounding the name of the service. The Bank Popular opted for the French language (Facile = Bridgepayday) when the savings bank chose English (Easy = Izicarte). But the two names intentionally show that the use of the thing is simple.
La Bank Postale has kept it simple. By not giving a specific name to his credit card. It is just an extension allowing to settle or withdraw, directly on the revolving credit.
Regarding the name of the card, we do not really know what Crédit Agricole wanted to play. It remains that the name of the credit option on the credit card is quite complicated to say: Cart'Lib. Like what, the game of abbreviations is not always appropriate ...
Are blue credit cards a specific banking feature?
At first glance, one might lean towards an affirmative answer. However, this is not always the case. So while funders don't always offer credit card backing, sometimes they do. This is the case with Paydaynow . Thus, the Crédit Agricole subsidiary distributes its own Visa cards, which it named after its revolving credit: Agile. In fact, for any revolving subscribed, you have the possibility of using it directly with the linked Visa card. Be careful, however, we are not in online banking, and these credit cards have a cost, including at Paydaynow.
So, if you have to take out a revolving credit with your Bank, the added option will not increase the annual fee for the credit card you already have. But if you have to take out the same revolving credit from a finance company, consider that you will also have to pay the linked credit card that you will receive. It is often offered the first year. But not the following years.