Credit Card Types
There are so many credit cards with different features out there. Which one should you get in order to give you the best deal? Here are some different features of credit cards which can help you decide which one best suits your needs.
Honeymoon Rates
There are credit cards which offer introductory terms wherein all purchases you make within the “honeymoon” period qualify for very low rates. Usually, the honeymoon rates are half of the regular rates. Be careful though as the normal interest rate may be higher than other cards.
Balance Transfer
This is one of the biggest types of credit cards today. With huge credit card debt left and right, people are looking for ways to pay off their existing debt. Transferring balances helps out in this regard as the usual offer is 0% for the first six months.
Interest Free
This type of card is perfect for those who prefer to pay off their credit card bill in full each month. The interest rate applicable to these cards is normally higher but then again, if you pay on time there will be no interest charged.
Rewards Programs
Many credit cards offer points for each time the credit card is used. The credit card holder can then accumulate the points and then redeem them for other products or services. They can quite costly though, as you would have to spend a lot before you accumulate enough points. More so, annual fees are usually higher for these cards.
These are only some of the cards available in the market. Which one is the best? It all depends on your needs and spending habits.
You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Leave a Reply