The basic credit card terms are as follows:
Debit – Credit for borrowing up to the amount of the debt. This can be found on the card. This may include insurance, co-signer, loan, guarantee, or credit cards.
Online account – Online account refers to a set of instant online payments. It is where someone can send credit card payments, and make the money back. Just like in real life, the money received stays within the card, which in turn pays all the bills, all the activation fees and the new card will automatically be re-signed up when the online account is finished activating.
Payment security – Payment security, usually refers to security, in most credit card transactions. This security is enforced by logging in with your card with your name, address and all associated details. This is done to protect against identity theft and other fraud risks.
Emergency – Another common credit card emergency. This means if your card does not authorize online credit card payments, you will not be able to receive payment. But this is still very normal and the credit card companies could not have authorized such things with their own cards.
Visa – Another uncommon credit card card type that has been changed most times due to legal changes. This is usually a card that allows you to pay worldwide in dollars rather than just letting you pay by credit card.
Mastercard – A card that gives you certain privileges and rewards (usually with an American Express key down) as well as the usual services of the online credit card.
Check and balance transfer – A card that allows you to go back and pay your whole balance as soon as the introductory offer period ends.
Regular APR’ Regular interest rate is an increase in the amount of the annual percentage rate for your purchases plus a discount if you use the card in the future. For a full list of APR’ rates, you can click here.
Basic Credit Card Usage
A basic credit card usage:
and a good debt reduction
and no debt reduction
until the debt is paid off
only up to their credit limit for the duration
any credit balances at all
using their unsecured cards
inadvertently applying for credit
a low-risk venture
to ensure that their unsecured cards are used in a responsible manner
in order not to be liable for over-use or misuse
the lenders or the borrowers
should they decide to commit fraud or misuse
they must also give full payment of any interest or other due-dates incurred.
Basic Credit Card Types
There are many different credit card types in the market today, which is why it is always a good idea to learn about a few of them and to use your credit card wisely. There are a few basic credit card types that we all know about in common: emergency and prepaid cards, cash advance and check cards, car wash and lotteries, and etc. Nonetheless, there are also a number of cards that are just not useful in a limited-to-limited-by-credit-card-surveillance-angle scenario.
Emergency credit cards are those cards you usually get when you feel you need emergency money. You should know that the interest rate increase could cost you quite a bit of money. However, if you lose your job, make a change of address, or simply cannot keep your head above glass, you really don’t need an emergency credit card just yet. However, some people prefer to keep an emergency credit card to use for emergency situations even if they generally don’t need it either. Those people are easily using the emergency credit card to transfer money from a recent savings account or a checking account to get a new credit card. They basically use their credit card to take out expensive credit card debts and then quickly pay them off.
Instant credit cards are the exact opposite of regular security credit cards. They are most often used when no longer able to pay the bills on time because they have horrible credit.