Types of Credit Cards
Seven Wonders of the Credit Industry
Did you read our intro on credit cards? If you did, then you are prepared to see the goods, young grasshopper. If you didn’t, well…we can’t make you. But we’re going to be throwing some terms around like nobody’s business. If you are sick of reading, talk with your personal finance guide to nail down credit card basics.
So…CREDIT CARDS! But which type of credit card is right for you? There are a lot of credit cards swimming around, and the one you catch could either be a tasty tuna or a wrathful shark. As Jacques Costeau might say (if he were a personal finance guide), “Let’s explore zee beautiful cards in zee financial ocean. HUH! HUH! HUH!” But first, read about the Credit Card Act of 2009 so you know your rights.
There are multitudes of credit cards out there. You’ve got your black card (don’t we all wish we could get our hands on that and then be able to hang out with Puff Daddy?), your platinum, gold, frankincense, myrrh, blue; the colors and corny “cool” names go on and on. (You know what I’m talkin’ about… the Open Road and Technorganic card.) If you narrow these cards down into categories there are seven main types, the Seven Wonders of the Credit Industry. Let’s explore these man-made wonders to see which type of card fits you best and what to consider when choosing a credit card.
financial factoid
78 percent of American households -- about 91.1 million -- had one or more credit cards at the end of 2008. A year earlier, there were 90.4 million households with cards. (Source: Nilson Report, April 2009)credit cards intro
Credit Report/Score Part Uno
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