Unsecured Credit Card
An unsecured credit card is a card that gives you a line of credit without you having to prove any payment based on a savings account. Basically credit cards that most people think of would be considered an unsecured credit card, even though we don’t typically define them that way. The idea of these lines of credit is that the lender feels that you are credit worthy and that their money is safe in your hands and that it will eventually be returned to them with interest. Now there are a variety of unsecured credit card providers that will give you a line of credit, even if you have had bad credit or no credit in your past. These are the cards you will want to try first, because there are fewer fees involved then a secured credit card. Also you will not have to have money in a savings account.
Secured Credit Card
A secured credit card is a card where you need a savings account through a bank in order to be able to qualify. The credit provider uses the savings account as collateral and mandates certain terms and agreements for the applicant to agree with. This means usually you will have to tie a certain amount of funds in an account in order to qualify for the certain terms and conditions of this secured loan. You must prove your credit lender worthy of being able to handle a line of credit. This credit line is only useful if you have to re-establish your credit or if you are trying to build up your credit report. These accounts typically have higher interest rates, and they usually have annual fees and make requirements of how much money needs to be in the savings account for collateral. These cards have their place, but only apply to them if you cannot qualify for an unsecured credit card. You should only apply for a secured credit card that reports your information to the credit bureau. Because this is the only way it would be able to help you rebuild your credit report. There are some websites that offer generate free credit cards, inclusive in other languages like this generateur de carte bancaire in french. You should be a little careful with these websites
Business Credit Cards
If you own a business, then you understand that a business credit card is a must if trying to grow to the next the level. Quality credit report information will help your business thrive. Time is money as they say. A business credit card is similar to a financial instrument. When using a business credit line wisely it has great potential to boost your business. But misuse of the line and your business may be destroyed! This is a known fact that over 2 out of 3 small businesses use a credit card for expenses. But only 40% use an exclusive business credit card! It is now time to understand there are many perks that go along with a business line of credit. Good credit management with this line could yield to high high credit limits. Also wholesalers give lots of discounts to businesses using a business credit line, but simply with ignore those customers that use personal credit cards.
Balance Transfer Credit Cards
Balance transfer credit cards are a great form of credit line which actually will benefit the card holder. This card offers one credit line account that will actually steal your debt from another credit card company through a balance transfer. This card will move the balance from one credit card company to another. There are very many credit card companies that will offer a new card with a lower APR, or a even a 0% APR for a set amount of time! Companies are always looking to steal business and compete for you. So if you are in credit card debt this is probably the best time to grab an amazing offer to avoid accruing more interest to your debt amount! And if you cant by chance pay off your debt before the rate expires, you can always apply for a new credit card with another low rate and have your balance transferred once again.
Student Credit Cards
What many students don’t realize is many credit companies set up tables in the areas of college campuses to invite students to get student credit cards. These cards were created because students don’t often have the income required to be approved for regular credit lines. Yet students still need to build credit also, and often have many expenses that they can pay for over time but just cant afford all of it at once. These credit companies are very aware of this, and this is why they offer special card just for students. These though usually require proof of being enrolled in college, and also the basic credit card application information of name, date of birth, and usually social security number.
Identity thieves have been known to set up fake tables in order to get their hands on the personal information of unsuspecting students. Before divulging your social security number, the LifeLock identity theft experts recommend that you become certain that the bank is a legitimate institution. Students are a prime target for identity thieves, and because of that they must take extra care with their personal information.
Gas Credit Cards
Lots of Americans use credit cards to pay for gasoline quite often. So why not apply for a gas credit card. Huge discounts and savings can be maid when using these cards for your purchase of gasoline. These gas credit cards are usually created by major credit card companies or by gas stations. And gas isn’t the only thing you can save on. There are plenty of other benefits and features.
Travel Credit Cards
These credit cards let the traveler earn points for every dollar they spend while using the card. The points are earned and can be used for discounts on airline tickets and car rentals, free travel and even hotel stay. The only catch is that usually a fixed amount of points must be accumulated before it can be redeemed.