Credit cards are cards issued by banks to people for the purpose of making purchases through the card while also paying back the money used in full at the end of every month. A credit card can be co-branded.
Standard credit cards: Also known as the plain vanilla credit cards because they have no rewards. What this means is that if you do not want a card that comes with rewards, this card is meant for you. They are very easy to use. The credit card can be use to make purchase and loaded up again when you make deposit.
Balance credit cards: This type of credit card is used for making balance transfer on a credit card to another card, mostly to a new card. It offers low introductory rate and thus, it is the idea credit card for people who wants to save funds on high interest rate.
Reward credit card: Rewards credit cards include, travel, cashback and point. Each of this card have their benefits which are available for users to enjoy.
Subprime credit cards: They are designed for people with bad credit history, high interest rates and fees. The terms are very discouraging and even at that, people still apply for the card.
Charge cards: this card comes with no spending limit thus, allowing the cardholder to spend as they wish. It terms include that all balances be paid in full at the end of the month. Failure to pay up all balances at the end of the month comes with penalty which could be card cancellation, restrictions, or a fee.
Secured and Unsecured credit card: The secured credit cards are made for people with no prior credit history. The card comes with a security deposit. Also, the card spending limit is the same as the amount of fund deposit in it. While the unsecured credit cards are for people with reasonable credit. This type of card is preferred by most people.
Secured and Unsecured credit card:Secured credit card: Secured credit cards are designed for people with no credit history. The card comes with a security deposit. The spending limit on the card usually equal to the deposit on it. While the unsecured credit cards are designed for people with fair to good credit history and is the most common of all credit cards.
It is more preferable to carry than cash
It reduces spending limit It offers rewards for quick payment Can be used in any currency
It helps to put a check on one's spending It comes with rewards It is very flexible
Standard credit cards: Also known as the plain vanilla credit cards because they have no rewards. What this means is that if you do not want a card that comes with rewards, this card is meant for you. They are very easy to use. The credit card can be use to make purchase and loaded up again when you make deposit.
Balance credit cards: This type of credit card is used for making balance transfer on a credit card to another card, mostly to a new card. It offers low introductory rate and thus, it is the idea credit card for people who wants to save funds on high interest rate.
Reward credit card: Rewards credit cards include, travel, cashback and point. Each of this card have their benefits which are available for users to enjoy.
Subprime credit cards: They are designed for people with bad credit history, high interest rates and fees. The terms are very discouraging and even at that, people still apply for the card.
Charge cards: this card comes with no spending limit thus, allowing the cardholder to spend as they wish. It terms include that all balances be paid in full at the end of the month. Failure to pay up all balances at the end of the month comes with penalty which could be card cancellation, restrictions, or a fee.
Secured and Unsecured credit card: The secured credit cards are made for people with no prior credit history. The card comes with a security deposit. Also, the card spending limit is the same as the amount of fund deposit in it. While the unsecured credit cards are for people with reasonable credit. This type of card is preferred by most people.
Secured and Unsecured credit card:Secured credit card: Secured credit cards are designed for people with no credit history. The card comes with a security deposit. The spending limit on the card usually equal to the deposit on it. While the unsecured credit cards are designed for people with fair to good credit history and is the most common of all credit cards.
It is more preferable to carry than cash
It reduces spending limit It offers rewards for quick payment Can be used in any currency
It helps to put a check on one's spending It comes with rewards It is very flexible
About the Author:
Designed Co-branded credit cards are possible for cardholders. Credit cards are great choices to have for convenience. The author is a keen writer on prepaid card programs and has several views on co-branded cards.
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