A CVS Visa gift card is typically used at more than 1200 retail establishments worldwide, including both on-line and brick-and-mortar stores. The card provides the consumer the convenience of utilizing their credit or debit card for purchases at the store, either online or offline. This provides the employee a convenient method to cover items that they bought while away from work, and still collect their paycheck. The amount is kept secret until the card is swiped at a customer's favorite retailer.
To qualify for a CVS Visa gift card, an employee must have a checking account. The exact qualifications for eligibility vary by company, but most companies require the employee to work in a store that accepts cards. They must also be able to prove that they will use the Visa or MasterCard for all purchases at the participating retailer. The Visa or MasterCard will usually need to be presented for any purchase. The actual credit limit varies by company, but is usually between fifty and one hundred percent of the retail price of the item being purchased.
The CVS Visa card is issued by MasterCard, which is also the issuer of many popular credit cards. A CVS Visa card is not tied to an applicant's bank account, like many other cards are. Rather, the card's use is dependent upon how the employee uses it. The employee must have a reliable source of income in order to maintain a revolving balance on the card. The employee's salary, as well as the purchase amounts, must remain within the card's limits.
A CVS Visa card is a preferred form of payment for many employees. When the card is presented to an employee, it can be expected that the employee will begin using it right away. Like a traditional credit card, the card holder must maintain a specified amount of spending. Otherwise, the card will earn a zero credit score on record. In addition, when the card is used to make a purchase, it may incur a fee. This portion is separate from the percentage rate on purchases.
The CVS Visa gift cards are also great for frequent travelers, because they can use them at any location worldwide. A card with a global gateway allows for unlimited purchases at select merchants. The world is literally your market when you have a CVS Visa card. The cards are accepted at thousands of locations worldwide, which makes it easy to plan every employee's overseas travels.
The cards are often issued to employees who work locally or in their home state. However, there are some businesses that issue them globally. There is usually a very high minimum required in order to get the card, but once approved, the employee can use the card almost anywhere. In addition, most CVS Visa cards are reloadable. This means that once the card has been issued, an employee can spend whatever amount is left on the card without being required to obtain a reloading fee each time.
When an employee uses the CVS Visa cards overseas, he or she is not required to have a US Visa debit or credit card. Instead, all purchases are made with CVS Visa debit or credit cards. Thus, an employee can purchase whatever products he wants from whatever merchant he likes. In addition, the employee does not need to provide an international bank account in order to be able to withdraw cash from ATMs. This feature alone could save a company millions of dollars per year!
There are many perks to having a CVS Visa card. It eliminates the need for employees to carry cash and eliminates the risk of theft. Most importantly, the cards are not reported to the credit bureaus as charge-offs which keeps a person from being able to acquire a signature loan or a revolving line of credit. Another major benefit to these types of cards is the ability to have employees earn miles. With miles, employees can spend on things they want regardless of how much they have actually purchased. With the added benefits of CVS Visa cards, it is easy to see why they are becoming so popular among today's working class.