You need a MasterCard, but you are green on matters related to MasterCard. You probably want to go through some frequently asked questions to get a grasp before you can make your application. Below are four FAQs on MasterCard and their answers.
1. What are the approval criteria for Go MasterCard?
You may want to apply for a MasterCard, but you don’t know the approval criteria, and so you give up. Not so fast, please.
Most credit financial institutions do a credit check before they determine whether or not the card is suitable. Take note that this may take some time. So, it’s good to be patient.
The other thing is to make sure that you are the right person applying for the MasterCard to minimize cases of fraud. In short, many factors are considered before you get approved.
Sadly, most financial institutions will not tell you the criteria they use to approve people, but they’ll let you know if your application wasn’t successful. You can check more information on CardGuru.
2. Why is it that EMV cards more secure than traditional ones?
The truth is that most people don’t understand why EMV cards are more secure compared to the traditional ones.
With EMV cards, there is a computer chip in the form of a metal. If you have a MasterCard, you’ll notice that there is a square metal on one side of your card. That’s the computer chip.
And you may be wondering why traditional cards are vulnerable to fraudulent activities. Well, traditional cards have unchanging data, and anybody who gains access to that data can use it for his or her gain.
Dave Witts explains why traditional cards are vulnerable. He says that when you copy the mag stripe on a traditional card, you can easily use the data several times.
The difference between traditional cards and EMV is that every time you use an EMV card, a unique code is generated. So, you can’t use a code several times like in traditional cards.
The technology behind EMV may not stop fraudulent activities, but it will complicate hacker’s actions of stealing your confidential information and using it for their gain.
3. When can I expect to receive an answer to my application?
It’s natural for humans to be curious, but a little patience is good. Yes, patience pays, and you should possess that virtue.
Usually, people want to get results immediately after activity. It doesn’t work that way. When you apply for a MasterCard, it may take some time. So it’s necessary that you be patient.
If you want a response in one minute, then you need to follow the instructions to a tee during the application process.
Please provide all the relevant information needed to avoid your application being rejected. Take your time and fill in the documents properly.
Sometimes, the financial institution may want additional information. If it happens so, they should let you know.
4. Can you track your application?
After making your application, you may want to know the status of your application which is normal.
Typically, your financial institution will update you via emails, but you are not only limited to the emails.
You can reach out to your financial institution to ask them about your application status. When calling your financial institution, make sure you have your application number.
Now that you have gone through some of the FAQs on MasterCard and their answers. It’s obvious that you now have a clear understanding of MasterCard. Go and apply for one today.