In addition, bank cards can now be used for direct payment at many stores, businesses, and restaurants. They work similarly to credit cards, except the money is debited instantly and directly from your savings or chequing account. The two major, all-purpose credit cards are Visa and Mastercard. These are issued by most banks and trust companies upon application. However, some banks will not accept applications from students unless co-signed by someone else who has an established credit rating.
Credit cards are useful for financial emergencies and for establishing financial credibility.
As well, credit cards may be combined with Automated Teller cards. The ISO encourages International Students to use credit cards wisely . It is very easy to get into a serious debt situation by using a credit card too freely. Money Orders Do not send cash through the mail. If you need to pay bills by mail, you can request money orders at banks, post offices, and some large stores.