Credit Card FAQ’s

Credit Card FAQs

Credit cards are necessary in today’s society. They help pay for things that you may be low on cash for and allow you to make purchases from a distance, such as shopping online. But, if you’re new to having a credit card, you probably have several questions about using it.

The article below details some of the most common credit card FAQ’s people ask. These will include using your spouse’s debit card, sending photos of your card and giving a number without the CVV.

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Of course, different companies will have different policies and guidelines. But these are generally how they go. When in doubt, contact an agent and they’ll be happy to answer any questions you have.

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Can I use my wife’s debit card?

You can typically use your wife’s debit card. However, you should have her permissions before using it. Regardless, you shouldn’t have too many problems since you both have the same last name. However, your wife should check with her bank to ensure they don’t have any policies against spouses using it.

But, if you’re concerned, some banks offer other options which allow you to use the debit card with confidence. For instance, you can always have your wife put your name on the card or have the bank give an allowance for your name in conjunction with the card.

Is sending a photo of your credit card safe?

It is never safe to send a photo of your credit card. If a nefarious character gets their hands on it, they can make online purchases or use it as a means to open accounts. This can lead to massive ID theft and will leave you in a lurch. Recovering from ID theft takes many years and can ruin any potential plans you have.

Is it secure to provide a credit card number without the CVV?

Whether it will be safe to give a credit card number without the CVV (the three-digit code on the back) will entirely depend on who you’re giving it to and what you’re giving the number for. If you absolutely trust the company and/or person, then it should be safe enough.

Whenever you’re in doubt, don’t give the credit card number. It’s always better to be safe about these things rather than risk a financial windfall.

Is it allowable to pay the credit card the same day I made a purchase?

No, you can’t pay off your credit card the same day you use it. This is because the transaction has to clear with the credit card company, register to your account and then clear with the business from which you made a purchase. This usually takes a few days.

Typically, you’ll get a monthly statement. This is when you pay off your transactions and see the final balance of all your expenditures.

When I pay my credit card, should I leave a small balance or pay it in full?

While many credit card companies suggest leaving a small balance on your card, you can pay off your balance in full. There are benefits and pitfalls with doing both.

Leaving a Balance

On the one hand, if you leave a small balance, you will accrue credit. If you’re someone who has bad, poor or no credit, this can be useful for building your credit profile. It will look good when you want to get a loan, rent an apartment or require a financial background check for some other large purchase.

But if you leave a small balance, interest will tack onto it and if left too long, this will accrue. In other words, you may end up paying more for that pack of gum than it originally cost. It’s not practical that way. So, if you do leave a balance, don’t leave it for too long and leave a very scant amount.

Paying in Full

Also be aware that credit card companies want to make a profit. So, of course they’re going to encourage leaving a small amount and not paying off your balance. If you end up paying it all off, it doesn’t necessarily make them happy.

But, paying it off entirely means you don’t have a burden on your shoulders. This is particularly beneficial if you have an APY that fluctuates. If your interest changes month-to-month, then you won’t have to deal with any expensive surprises.

Company Credit Cards

This article is mainly about personal credit cards but if you want to know more about company cards (they have some different rules) then this article will help you. 9 Things to Know about Company Cards.

Financial Protection for Card Holders

In the UK when it comes to credit cards consumers come under the protection of the Financial Ombudsman service. So if you ever have cause for complaint with your credit card company you should contact the card company first. However if you are not satisfied with the way they handle your complaint visit the Ombudsman website here.

The Ombudsman is impartial and has power over all UK financial companies and can insist they resolve the issue.


Credit cards are a handy and necessary thing to have. They help keep us afloat with finances; allowing us to pay for things we normally couldn’t out of pocket. But, it’s important to be smart about using it so as to prevent ID theft and charged out the kazoo by the credit card company with interest.

For more details on getting the free £75 with the Capital on Tap Company card read this full Capital on Tap review.

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