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Understanding Various Kinds Of Credit Cards
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Posted On :
Nov-10-2011
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Article Word Count :
488
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The use of credit cards in the world has become a common thing. This began in countries like US and UK, but has now been embraced in other parts of the world.
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Each person has different financial needs in the modern world. This is evident in a way that there are people who have a lot of money while there are others who leave below a dollar daily. All these people require money or some finances to heed to their daily activities. The use of credit cards in the world has become a common thing. This began in countries like US and UK, but has now been embraced in other parts of the world. With the number of people in need of credit cards increasing at a greater level, there are different kinds of credit cards to suit the needs of each and every individual. Here are some of these common kinds of credit cards that you need to be aware of.
Kinds of Credit Cards
- Standard credit cards; this is one of the most common kinds of credit cards in the world. It works in a way that you are given the chance to have a rotating balance to a specific credit limit. His card also works in a way that credit is used when you buy or make a purchase of an item or service. To have your credit back, you need to make a payment and you will have it in your credit card. You need to know that with this card, you are legible to a finance charge at the end of each month for any exceptional balances. With this card, you also need to know that it has a minimum payment that need to be paid according to the agreed time failure to which you will be subjected to late payment penalties.
- Premium credit cards; this kind of credit card provides benefits and enticements than that offered by regular cards. Some of the common example of these cards is the Platinum and Gold cards that are known to offer reward points, cash back, travel upgrades among others. This kind of card might have minimum credit score necessities and income though they are prone to have higher fees. Just like the standard credit cards, premium credit cards also have other specific kinds of cards like 0 percent interest cards, student credit cards, and travel cards among others. This makes it possible to select on the premium credit cards that you deem important to your financial needs.
- Charge cards; this is another excellent example of credit cards. These cards are known not to have any credit perimeter, though the balance on this card ought to be paid at the end of the month in full. At the same time, they do not entail any minimum payment or finance charge because the balance is supposed to be paid fully at the end of the month. At the same time, you should know that late payments will lead to charge restrictions, fee or even card cancelation based on the terms and conditions.
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Article Source :
http://www.articleseen.com/Article_Understanding Various Kinds Of Credit Cards_102634.aspx
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Author Resource :
With different financial needs in the modern world, you need to be aware of the various kinds of credit cards in the modern world. The aforementioned are just some of the many available types of credit cards.
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Keywords :
credit cards, online credit card, compare credit cards, how to get a credit card, applying for a credit card,
Category :
Business
:
Business
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