| nies who are used to credit cards will not be | | | | Nearly every bank in the United States uses a debit |
| surprised by all of the different types of credit cards | | | | card for their customers. Debit cards allow you to |
| available. Those who are new to the credit card | | | | spend the money that you have, but do so with |
| scene may be taken aback by all of the various | | | | plastic. You need to know your finances and be |
| types of plastic that can be carried. There are | | | | careful when purchasing items with a debit card. If |
| multiple types of cards in the financial world that can | | | | you spend more than you have, you will be charged |
| be processed and run the same. Understanding all of | | | | with an “overage” charge. |
| the different types of credit cards possible will help | | | | Rewards Cards |
| you to understand what to expect. If you are | | | | Rewards cards are the same as any other type of |
| looking for your own debit-credit card, it will help you | | | | credit card. They have multiple benefits for those |
| to understand what card may be best for your own | | | | who make purchases, however. Some give cash |
| credit needs then you have some different types of | | | | back after a certain amount of purchases. Others |
| debit-credit cards in the financial world. | | | | rack up points that allow you to purchase airline |
| Pay as you Go Cards | | | | tickets. |
| Pay as you go credit cards are the most efficient | | | | Company Specific Cards |
| and responsible credit cards available. These ones | | | | Many different companies offer credit cards. Retail |
| force you to pay every single month, but actually | | | | stores will often feature their own line of credit to |
| pay your entire balance. You must pay everything | | | | encourage you to purchase more in their store. |
| you owe every single month. If not, you run the risk | | | | Often, these have higher interest rates and are |
| of incredibly high interest rates that make the card | | | | harder to control. |
| difficult to pay off. | | | | Some people need the responsibility of pay as you |
| Balance Cards | | | | go cards to ensure that they do not rack up a large |
| The most popular and most used type of credit card | | | | amount of credit. Others need the continuing balance |
| is the standard, regular balance card. You put a | | | | of a standard, balance card. Those who do not need |
| balance on the card and only need to make monthly | | | | credit but want to have plastic will turn to their debit |
| payments that are based on your balance. This allows | | | | card. There are also specialty forms of credit cards, |
| you to spend a lot of money with only minimal | | | | such as rewards cards and company specific cards, |
| monthly payments. Whatever you purchase will cost | | | | that act just like standard credit cards. Understand all |
| you more in the long run, but balance cards give you | | | | of these types of credit cards to know what to |
| more finances than you actually have. | | | | expect, and to know what may be perfect for you. |
| Debit Cards | | | | |