The credit card company, Leumi Card, announced on Sunday that it will introduce a new type of credit card, called Cash Card, to Israeli consumers.
The card, Leumi claims, is the first of its kind in the country as it allows customers to designate a credit line for themselves of up to NIS 5,000 a month and then prohibits the customers from charging more than that amount, thereby protecting customers from going into overdraft as well as helping to protect the customer in case the card is stolen or lost. The card can be used both in Israel and abroad to make purchases or to withdraw money from ATM machines.
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