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What Are The Different Varieties of Credit Cards

06.06.2008 · Posted in Miscellaneous Articles

Credit card companies and banks, through the United States are looking to get your business. With the numerous credit card companies and banks available today, it is no wonder they are so competitive trying to get your business. In order to get your business, the credit card companies offer various rebates, incentives and other various benefits.rnrnIt’s important to compare various banks and credit card companies before you make a choice. If you get a card offer through the mail, be sure to look it up online before you decide to go with it. Also, read all fine print through more than once, and be sure that you’ve got a good understanding of all the fees and hidden costs that come with the card. Many credit card companies and banks that send offers through the mail include these types of fees.rnrnWhen you start to compare offers, you should make sure that you look at the APR and the fees. The APR is very important, as this will tell you your interest rate. You want to get the lowest APR possible with your credit card. If you look at a credit card that has an unusually high APR, you should immediately rule it out. Credit cards that come with high APR rates can easily lead you on a roller coaster towards credit card debt. No matter how good your credit may be, high APR rates can leave you with charges that are really difficult to pay.rnrnThe three major types of credit card are American Express, Visa, and MasterCard. They’re the leaders in the credit industry. However, Visa and MasterCard don’t issue their cards directly. They instead choose to allow banks and other companies to issue cards on their behalf. American Express, also called AMEX, does not use a third party for any part of the transaction and issues their own cards.rnrnVisa or MasterCard are the best choice if you’re going to be traveling. They tend to be accepted in most locations around the world, while American Express may not be accepted in some areas. However, expansion is planned, and American Express may soon be accepted worldwide.rnrnAnother type of credit card is Discover. It does have some great benefits, even though it is not as popular as MasterCard, Visa and American Express. Although Discover is accepted in many parts of the world, users tend to only use the card locally and usually for emergencies. If looking for a credit card, a better choice is probably a MasterCard or Visa.rnrnThere are many different credit cards to choose from. The type of credit card you choose is completely up to you. It is up to you to find a credit card that fits your personal needs.rnrnYou can choose to go with a company or bank that’s local to you, or get online and look for your credit card. The Internet can be a great resource for credit cards, as long as you know what you want. If you know what you want before you go online – you’ll save yourself a lot of time and money.

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