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Just
as there are too many credit card companies to count, there
seems to be just as many different credit cards, all
claiming to offer you the best possible deal. Since no two
people are alike, not all programs and incentives will work
the same for everyone. Finding the one that works best for
you is key to maintaining responsible credit card use.
Types of Credit Cards
One of the more recent additions to the credit card world is
the low-interest credit card. If you live anywhere in
the U.S., you've probably already received information
regarding this type of card. These cards offer a
significantly lower interest rate than some of the older
ones that you may already have. Also, most of these cards
are also balance-transfer cards. They offer you the option
of transferring a balance from a higher interest rate card
and, for a specified period of time, your transferred
balance will be at either 0% interest or something quite
low. This can end up saving you a fair amount of money,
particularly if your hope is to pay it off.
Since credit cards have gotten to be such a lucrative
business, many corporations have jumped on the bandwagon.
Even airlines now offer credit cards to customers that will
come with a certain amount of frequent flyer miles attached
to them, depending on your balance and purchases. If you do
a fair amount of traveling, this can be a real bonus. Along
these same lines, reward credit cards are growing in
popularity. Competition is stiff and many card companies are
now offering you many different reward or incentive options
for using their card. Once you accumulate enough points, the
rewards will pore in. These can be anything from travel
insurance to small appliances and anything in between. If
you use a card regularly, finding one that has a reward
program can really pay off.
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Credit Card Information
»Credit Card
Information
»Types
of Credit Cards I
»Types
of Credit Cards II
»Various
Features
»APR
Explained
»Choosing
a Credit Card
»Credit History
»What
is a Credit Report
»Credit
Card Numbers
»Expiration
Date
»Application
Process
What to do When...
»Your
Credit Card is Stolen
»Your
Application was rejected
»You
Have no Credit History
»You have Credit
Card Debt
»You have to pay your bill
Business Owners Section
»How
Credit Cards are Processed
»Accepting
payments online
»Accepting
payments offline
»Protecting
Your Business From Fraud |
Another form of credit card is
the instant approval card. Again, many of these
applications come in the mail, some even by e-mail. These
cards offer you the opportunity to apply for a card and
receive instant approval, meaning no wait time. Once you
fill out the application, a quick background check will be
done and you will have your approval almost immediately.
Other cards can take up to two weeks to process and approve
your application. Although you can get instant approval,
this does not always mean you can get instant credit. Some
companies will supply you with a temporary credit card
number and allow you to begin making purchases immediately,
while other will not due to an increase in credit card fraud
potential.
Since there are so many options when it comes to choosing a
credit card, do a little research before you apply. Decide
what type of card will best fit your needs and apply for
that one. Don't go over board though, applying for too
many cards will negatively affect your credit score.
Continue reading "Different Types of Credit Cards and
Features" on the next page...
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