There are all types of credit card offers out there such as reward credit credits, secured credit cards, student credit cards, business credit cards and sub prime credit cards. Obviously depending on your credit report and credit scores will ultimately determine the rate and terms of your card. Credit cards are necessary during this day and age for many reasons. The first reason is credit building and also for emergencies purposes as well. Some card holders will use one credit card to pay all there bills on to get the air line miles or points towards other purchases.
Reward credit cards are a hot ticket currently. You can get points for every dollar spent towards other types of perks. Every credit card company is offering different rewards for charging on there cards. So depending on the credit card company, your rewards will vary, but at times it can be worth it as long as you pay of the charged balance every month. This type of credit card might be ideal for a individual that spends a lot of money on expense or flying regularly.
Business credit cards are a great way to build up your business credit. Some of the business credit cards reward your business for spending as well. Maybe you fly a lot as a result of your business; there are cards that pay you airline miles for every dollar spent. Some business credit cards will give discounts up to 25% on business expenses. Every business owner should have a business credit card.
Secured credit cards are ideal for individuals that are new to credit or are in the rebuilding stage of credit. Secured credit cards are the quickest way to establish credit for newbie’s to the credit arena. A secured credit card usually requires a deposit from you in the amount of $250 to $300 to secure the credit card. Once you have secured this card with your funds in about 30 to 60 days this credit card will report to all 3 credit bureaus. This starts the credit building stage promptly. With a good 12 month payment history you will start getting credit card offers in the mail. Once this starts you are well on your way to building a healthy credit report.
Student credit cards are ideal for anyone that is new to the credit building process while in college. This card is an un-secured credit card that does not require large deposits of your own money. Usually this card will extend low credit limit that will gradually climb with good payment history.
Remember to pay your credit cards on time and to keep your balance owed under 30% of credit limit.
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