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Credit Cards
A credit card is a great financial tool. It can be more convenient to use and carry than cash and it offers you valuable consumer protections under federal law. However, it is also a big responsibility. If not used carefully, you may end up owing more than you can repay, damaging your credit rating and creating credit problems for yourself that can be difficult to fix.
Chances are your mailbox is full of credit card offers from issuers, each one trying to entice you into applying for their credit card. But, how do you know if the time is right for a credit card? Also, what should you know before you apply for one? The following information can help you determine whether you're ready for a credit card, what to look for when selecting a particular type of credit card and how to use your credit card responsibly.
How to Qualify for a Credit Card
If you're at least 18 years old and have a regular source of income, you are well on your way to qualifying for a credit card. However, even though you may receive many invitations and special offers from credit card companies in the mail, you still need to demonstrate that you are a good risk before such issuers will grant you credit. The proof lies in your credit record. If you've financed a car loan or other purchase, you probably have a record at a credit reporting bureau. This credit history shows how responsible you've been in paying your bills and helps the credit card issuer decide how much credit to extend.
Credit Card Types
Low Interest Credit Cards
Credit Cards with 0% intro APR's & low fixed rate offers |
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Prepaid Debit Cards
Control your spending with a prepaid debit card |
Rewards Credit Cards
Credit Cards that "Reward" you for your purchases |
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Credit Cards for Bad Credit
Cards for people who are looking to re-establish their credit |
Instant Approval Cards
Get approved instantly on select credit cards from specific b |
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Student Credit Cards
Credit Cards for High School & College Students |
Balance Transfer Cards
Transfer a high interest balance onto a low APR credit card anks |
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Business Credit Cards
Cards for corporate & small business owners |
Cash Back Credit Cards
Credit Cards that allow you to earn cash back on purchases |
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Airline Credit Cards
Earn frequent flyer miles with an airline credit card |
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