Credit cards offer the
convenience of “buy now and pay later” for many items. Some credit
cards are bank or financial institution credit cards such as Master
Card, Visa, Discover and American Express. Other credit cards are
offered by stores such as Macy's, JC Penney, Lane Bryant and others.
Still other credit cards are for special purchases such as the Care
Credit card for dental or medical expenses. Credit cards vary in the
interest rates they charge, fees, limits, special offers and difficulty
obtaining them.
If you have excellent credit you should have no problem obtaining
credit cards. A bonus for those with excellent credit is that they can
save money by getting credit cards with low interest rates. Some of the
best rates are on introductory offers that give zero percent interest
for a period of time. Banks offer major credit cards like Visa and
Master Card to their customers and rates are reasonable. They also
offer debit cards that draw directly from the customer’s checking or
saving accounts. These are good because there is no interest charged
because there really is no credit being extended. The charges are paid
for instantly from the customer account rather than being carried for a
period of time. Debit cards act similarly to regular credit cards but a
PIN number is required for use.
You can save money by paying your monthly credit card charges in full
every month. This avoids the interest charges. If you can qualify for a
card with no annual fee those are the best credit cards to get. There
are pre-paid and re-loadable charge cards that you can get regardless
of your credit history. If you have no, poor, or a bad credit history
you may experience difficulty getting credit cards unless the issuing
company holds a security interest or they charge you a very large
annual fee.
Getting the first credit card is the toughest thing to do. Once you
have one card you should then receive offers for others. With an
established credit record and timely payments you can get better cards
with lower rates.
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