Types of Credit Cards

Article Highlight: Understanding Pre-Qualification Credit Cards

Getting pre-qualified for a credit card is not the same as getting pre-approved. A pre-qualification simply means that, based on what the creditor knows about you, they expect to be able to approve your application.… Keep reading »

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Credit cards

The choices for credit cards vary tremendously, based on your credit history, your interests and your specific credit needs. A mere handful of options include prepaid, limited use, no credit limit, single-merchant use, business only, annual fee, no annual fee, and incentive-based cards. Get the lowdown on different types of credit cards so you can find the best one for you.

Finding the Best Credit Card for You

Unless you've lived under a rock for the last decade, everyone knows what VISA, Mastercard or American Express are. However, there are different cards that you should get based on what you are going to use them for. There are credit cards that are designed for people with no credit history, those that can offer you a 0% APR and even for those with poor credit. Discover the different kinds of cards out there to find the one to fits your needs.

Major Credit Cards

Most banks across the country offer credit cards. The larger the bank the more common it is to see a credit card from them. For instance, you might have a Capital One credit card in your wallet right now. But did you know that you can get a business card from Chase Bank or you could maybe get business incentives? Learn about some of the major credit card issuers out there and what they can offer you or your business.

Store Credit Cards

Your Aspire VISA is great for all your purchases, but store credit cards can give you extra incentives or rewards for applying for a card. Using an Amazon card, for example, you might be eligible for 0% APR or get cash back for your purchases. With the Lowe's credit card, you can get no annual fee and a 23-day grace period. Discovering the store incentives or rewards can make getting a store card worth it.

Gas Credit Cards

Are you curious why someone would use a gas credit card? The reasoning behind this type of credit card is very similar to department store credit cards. If you have a Chevron card or CITGO credit card, you might be able to not only earn incentives for cheaper gas like 10 cents off a gallon, but you might be able to earn free stuff in the store as well.

Credit Card vs Debit Card

Debit cards already have money on them, while a credit card is typically unsecured debt that you're borrowing at an interest rate. Learn about the other differences between the two like fees and rates. Get information on why your VISA debit card might be the right choice over a VISA credit card.

Low Down on Gift Credit Cards

In the discussion about credit cards, you can't leave out gift cards. Gift cards are like a credit card but only have a specific amount of money. They can be a gift credit card that you can use anywhere or might be designated for a certain store. Read up on what to do for gift card exchange and delve into some of the best practices for gift cards.

Credit Card Choices

The types of credit cards out there and the different choices that you can find are expansive. From cards at Torrid to student credit cards, you have a lot of options. Learn the difference between high-end cards and beginner cards, along with how to get your own card.

Types of Credit Cards