Credit cards have become a fact of life. Most of us have at least one or are thinking of getting one. In spite of this not many of us are actually aware of the different types of it available. Knowledge of the types of cards in the market will help increase our options so that we can pick out a buy cloned credit cards online most suitable for our needs and situation. Read on for 5 different types of credit cards that you can choose from.
An unsecured revolving credit card is generally issued to consumers who have good credit history. The main purpose of the card is to provide the cardholder with purchasing power that he or she may not have at point-of-sale. Secured credit cards are generally suitable for someone new to it and has no credit history to qualify for a unsecured credit card or for someone who has screwed up his or her credit history and would like to rebuild it. The features of this type are as follows:
The main difference between this type of credit card and the general one is the type of credit. While cardholders enjoy an unsecured loan on the card mentioned above, a secured credit card holder must ensure that he or she has deposited a sum of money with the institution issuing the card. Having a credit limit close to the sum of money deposited ensures that you only spend what you can afford. This prevents the danger of getting knee deep in credit card debt problems. However, do not use a secured one for a period longer than necessary as it may affect your credit history. If you believe that you can be responsible with it, you should be able to handle an unsecured credit card too.
The main difference between the store card and the general credit card is that the cardholder can use it to purchase products and services only from the store issuing the card. Cardholders are entitled to benefits and special discounts pertaining to the products and services of the store. However, the fees and APR applied to the store cards are higher than general ones. Recently, there is a shift in store cards. More and more of these store cards now come with a VISA or MasterCard feature that permits their usage.