Getting know your credit card

I’m sure most of us who are already working have credit cards, some students might use students credit card or debit card and some people just prefer debit cards since they’re cautious with their spending and might not want to overspend their money. Whatever the reason is, there’s no reason to be afraid of credit cards if you use it wisely. I’m sure a lot of people applied for the reward credit cards, some might have business credit cards issues by their respective company for business purposes and some student have student credit cards for their spendings. Let’s look at the two other credit card types that people might not know.


For the people who have a bad credit report, they might have to use Secured Credit Cards. A secured credit card is a credit card where you need to put a cash collateral deposit which will be your credit limit for the account. As an example, if you put $200 on the card, then your maximum charge on the card will be $200. Usually, you have the option to put in a further deposit to extend the credit limit and if you track record of payment is good, the bank might award you a further credit limit without further deposit to the account.

Prepaid Credit Cards or we usually call it debit cards is another type of credit card. Basically, we need to put money in the card, use it till the balance is zero and that will be our credit limit. We need to deposit more money on the account if we want to use it again. Technically, it can’t be called a credit card since it doesn’t give you any credit except for the amount that you already deposited earlier but since it works like a prepaid service and the card carries a credit card brand like Visa, Mastercard, American Express and others, some people called it prepaid credit cards. The main advantage of the card is you don’t have to worry about spending too much when shopping and you don’t need to carry the cash around because it’s already stored on the card which is safe and convenient.

Selecting the best credit card offer will not be an easy task but if you’re looking for the best Credit Card Ratings, you can always check it online. Compare all the benefits of the cards and analyze your goals. Some people might want a zero interest credit card, some might want the best rewards credit cards and some might want a card that is recognized by the world. Take everything into account, apply for a Visa credit card or others, just remember the power of choices are in your hand.