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Credit Cards - 3 Types To Choose From
_Are you considering a credit card? If so, you'll find that there are different types out there that you can choose from. Of course every different card definitely comes with different disadvantages and advantages to using the card.
It's important that you know the types of cards that are out there for you to choose from. While you could never cover all the different cards, here is a look at some of the top types of credit cards available. You'll find out more about the disadvantages and advantages to each one as well.
First of all you have secured credit cards. These are essentially credit cards that you actually pay money down on, and then you can use that money as credit. They are a great type of card for those who have credit that is less than perfect.
Of course for those that have great credit, usually you won't want to go with a secured card. They come with quite a bit of fees and high interest rates as well. While these are disadvantages, they do offer people with bad credit another chance to work at building up a good credit score.
Secured credit cards are also a great choice for those who haven't built up credit. For students who are just starting out, they can provide a way to have a credit card. They are even great for those who have recently moved to the country as well.
Another type of credit card available is a rewards credit card. These types of cards offer special rewards to customers, such as airline miles, discounts on hotels, cash back, points, and more. Of course you do have to pay off the balance each month to get the rewards.
While there are different rewards to choose from, on the down side, there are often high interest rates and high fees as well. Those that have bad credit are usually not able to get these types of credit cards either. So, carefully look into the card before you decide that a rewards credit card is right for you.
No interest or low interest credit cards are another option available today. If you want to pay off your credit cards faster, then these cards can be a great option. However, you'll find that they are not available to everyone. Usually only those with good credit can get these cards.
You will also find that the low or no interest offer is only for a short time. Once the time is up, usually the interest rates are quite high. So, if you can't pay off the card before that time, you can end up paying out quite a bit of money, just in interest.
It's important that you know the types of cards that are out there for you to choose from. While you could never cover all the different cards, here is a look at some of the top types of credit cards available. You'll find out more about the disadvantages and advantages to each one as well.
First of all you have secured credit cards. These are essentially credit cards that you actually pay money down on, and then you can use that money as credit. They are a great type of card for those who have credit that is less than perfect.
Of course for those that have great credit, usually you won't want to go with a secured card. They come with quite a bit of fees and high interest rates as well. While these are disadvantages, they do offer people with bad credit another chance to work at building up a good credit score.
Secured credit cards are also a great choice for those who haven't built up credit. For students who are just starting out, they can provide a way to have a credit card. They are even great for those who have recently moved to the country as well.
Another type of credit card available is a rewards credit card. These types of cards offer special rewards to customers, such as airline miles, discounts on hotels, cash back, points, and more. Of course you do have to pay off the balance each month to get the rewards.
While there are different rewards to choose from, on the down side, there are often high interest rates and high fees as well. Those that have bad credit are usually not able to get these types of credit cards either. So, carefully look into the card before you decide that a rewards credit card is right for you.
No interest or low interest credit cards are another option available today. If you want to pay off your credit cards faster, then these cards can be a great option. However, you'll find that they are not available to everyone. Usually only those with good credit can get these cards.
You will also find that the low or no interest offer is only for a short time. Once the time is up, usually the interest rates are quite high. So, if you can't pay off the card before that time, you can end up paying out quite a bit of money, just in interest.