Banking

Credit cards

Credit card info

The credit card issuer gives you a card. You use the card to pay for items up to a certain amount which is your limit. After you go over the limit you have to repay the issuer the fee.

Types of credit cards

Balance transfer credit cards: Balance transfer credit cards allow consumers to transfer a high interest credit card balance onto a with a low interest rate. Typical in the market today are balance transfer credit cards with an introductory annual percentage rate (APR) of 0 percent with that introductory or "teaser" lasting several months up to a year. The terms of balance transfer credit cards varies between offers, so be sure to thoroughly read the terms and conditions for each card.

Types of credit cards part 2

Low interest credit cards: Low interest credit cards offer either a low introductory APR that jumps to a higher rate after a certain period, or a single low fixed-rate APR. Low interest cards can be very useful when consumers need to make a large purchase because it allows several months to a year to pay it off with very low or no interest. Before using a low interest card, read all terms and conditions of the introductory rate so you will not by fees or accumulated interest.

video of credit cards

good credit credit cards

With good credit, there are more credit card options available and it's important to comparison shop. You'll discover a wide range of APRs, benefits and fees, so make sure to do your research before applying.

Bad credit credit cards

With poor credit, your options for credit cards are somewhat limited. Most companies won't provide a credit line without a deposit and virtually all credit cards are going to charge monthly fees.

-Erin kendrick