There are both secured and unsecured credit cards. Secured
credit cards require a security deposit. These cards are geared
towards those who have credit problems or those who have yet
to establish a credit history. With this type of credit card,
you will have a secure deposit that is equal to or greater
than your actual credit line. If for some reason you miss
a credit card payment, money will be taken from your security
deposit to cover the payment.
Unsecured credit cards do not require a security deposit.
There are many types of unsecured credit cards. You can find
student credit cards, bad credit-credit cards, rewards cards,
business cards and everyday credit cards. Not all credit cards
are the same Some offer low interest rates while others are
rather high. One credit card may have a low credit limit and
others may be very high.
Typical credit cards are those who are geared towards everyday
use and circumstances. They are for people with good to excellent
credit. The credit limits, APR and fees may vary, but they
serve the same basic purposes. They provide a line of credit
to individuals. These credit cards can usually be used in
millions of locations throughout the world. It might be a
Visa Card, MasterCard, Discover Card or even an American Express.
Visa and MasterCard are the two most commonly used.
Some credit cards offer rewards. These might be cash back
rewards or air miles. There are many other types of rewards
cards as well. If you use your credit card often you might
benefit from rewards cards, especially cash back rewards.
Earn some money back for the purchases you make. Every dollar
can help. For those who travel often, airline rewards can
also come in handy and even save you money on flights.
Student credit cards are geared towards college students.
They may have a lower credit limit. These cards provide an
excellent way for students to begin building a credit history.
As long as they do not run high balances and pay their bills
on time, credit cards for students do have their benefits.
Shop around to find the credit card type that is right for
you. You will be able to find jut what you are looking for.
By using the Internet, you can quickly compare different types
of cards and what they have to offer to you.