Credit cards are cards that allows the cardholder to borrow money from their bank to make purchases. Co-branded credit cards are made available for customers who wish to have a customized credit card. There are several types of credit cards that are available to customers. It is important to know the credit card that best suit your need and each of them have their uses. The major types of credit cards are:
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.
Rewards Credit Card: There are basically three types of rewards credit card namely; travel, cashback, and point. This type of credit cards offers rewards to cardholders on every credit card purchase. The travel reward is most popular among travelers because they can use it to get free flights, free hotel accommodation, and some other travel needs. The cashback reward is very simple and flexible. The point reward can be exchanged for cash or other things. Charge Cards: Typically, charge cards have no spending limit. However, all balances must be paid completely at the end of every month. Late payment may require paying a fee, restrictions or simply canceling of the card.
Reward credit cards: Reward credit cards comes in three different kinds: there is the travel, cashback, and point reward credit card. Each of these cards have their different rewards which customers can use as they wish.
Subprime credit cards: These type of cards are offered to people with not too fascinating credit history, or people who oftn hav high rates and fees to settle. The card comes with hard terms but people still apply for the card notwithstanding.
Student credit cards: These cards are designed for college students because they do not have credit history. Student credit card are easily approved for students who are newly applying for cards.
Benefits of having a credit card
Why you should have a credit card? They are comfortable to carry hands free than money It helps to adjust one's spending It offers many rewards for users
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.
Rewards Credit Card: There are basically three types of rewards credit card namely; travel, cashback, and point. This type of credit cards offers rewards to cardholders on every credit card purchase. The travel reward is most popular among travelers because they can use it to get free flights, free hotel accommodation, and some other travel needs. The cashback reward is very simple and flexible. The point reward can be exchanged for cash or other things. Charge Cards: Typically, charge cards have no spending limit. However, all balances must be paid completely at the end of every month. Late payment may require paying a fee, restrictions or simply canceling of the card.
Reward credit cards: Reward credit cards comes in three different kinds: there is the travel, cashback, and point reward credit card. Each of these cards have their different rewards which customers can use as they wish.
Subprime credit cards: These type of cards are offered to people with not too fascinating credit history, or people who oftn hav high rates and fees to settle. The card comes with hard terms but people still apply for the card notwithstanding.
Student credit cards: These cards are designed for college students because they do not have credit history. Student credit card are easily approved for students who are newly applying for cards.
Benefits of having a credit card
Why you should have a credit card? They are comfortable to carry hands free than money It helps to adjust one's spending It offers many rewards for users
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.. Free reprint available from: Credit Cards: What Are The Various Types Of Credit Cards And Their Uses?.
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