Standard Credit Cards: Standard Master cards are the general purpose cards that have revolving credit lines. They are advertised to individuals over the age of 18 who meet or surpass the financial institution conditions regarding credit criteria. No deposits are required and the credit limit is set by the visa guarantor.
Reward Cards: Numerous credit cards have reward programs that can impact our spending. The advantages may come out in the form of cash, points or discounts. Points that are accumulated, can be used for free hotel stays, watching movies, air travel and so on. Reward Cards are good for individuals who pay their balances off consistently.
Secured Credit Cards: Secured credit cards are known as pay-as-you-go cards. After opening the account the card holder deposits a couple of hundreds to several thousand dollars, that decides the card holder credit line. These cards have an annual fee and higher annual interest rates. Mostly, people uses these cards to make small purchases that they can easily repay.
Specialty Credit Cards: These credit cards are offered through affiliations, partnerships, major brand retailers or service suppliers. Many specialty credit cards share a partnership between associations that support a social cause. A little partition of the buy goes towards the expected organization.
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