ChristianCredit.Com:

Credit Card Ratings And Types
If you are facing trouble with a Credit Card which has low credit limit then you may have to opt for a Credit Card with a slightly higher rate of interest. If you have poor credit or no credit, some banks will issue you a secured credit card for which a deposit money in your saving account will serve as guarantee against your credit limit.

Secured Credit Cards are often the most excellent alternative for people facing the bankruptcy in their past. Make sure you select a Credit Card that pays you interest on your deposit. On contrary if you have very good Credit Score and would like a higher limit, you can opt for a Gold or Platinum Card at the same interest rates but with a little
high annual fee.

We do normally receive notices like “we are pre-approved for endless types of Credit Cards. This is a trap actually…

Warning about these “pre approved” Credit Card offers that you get in your mail: You may be receiving offers like a new Credit Card with a pre approved Credit Limit but the terms and conditions could discloses a very high rate of interest and also state that, by accepting the offer you agree to transfer the entire balance of your other Credit Card to the new high interest account. This is a trap, because you would never knowingly choose to pay extra interest. Study the whole thing with awareness so that you don't fall into this trap.

It doesn’t matter what kind of plan you choose but you must have the following information regarding the Federal Truth in Lending Acts. Following information will help you



evaluate Credit Cards with one another.

•Finance charges in dollars and as an annual percentage rate (APR)

•Credit issuer or company giving that the credit limit.

•Size of the credit line

•Duration of the grace period, if any, prior to payment must be made.

•Minimum fee required .

•Annual fee, if applicable.

•Fees for credit insurance (if any) .

Now the Types of Credit Cards

Mainly there are three types of Credit Cards are there
•Master, Visa and Discover Card.

•Travel and Entertainment Cards such as Diners Club and American Express.

•House Cards which are usually used in one chain of stores.

You must be familiar with Affinity Cards; these Cards do carry Master or Visa logo as usual but these Cards give few benefits like Gas Cards, Frequent Flyer Miles plus reward points on each time you use these cards. These Cards help companies put their name before its Customers and establish a brand name and apart from that these companies do receive some financial incentives too from the Credit Card Company.

The right Credit Card for you is the one that’s accepted everywhere you shop and charges you the least amount of money for the services you utilize. Nearly any U.S. business or organization that accepts MasterCard also takes Visa, and vice versa. So if you only do use your Credit Card in the United States, you most likely don't need both.