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Credit cards are cards issued that allow you to buy on credit, meaning that the amount you spend isn't deducted from your bank account at the moment of purchase. Instead, you pay when your credit card bill comes at the end of the month. Credit cards charge rather high interest rates, so it is best to pay the bill in full each month. Furthermore, there are different borrowing limits, so you should choose the one that suits your spending habits. For example. if you are an impulsive buyer, it is advised that you choose a lower credit limit to ensure that you don't spend more than you have.
TRAVEL CREDIT CARDS |
CASH BACK CREDIT CARDS |
Travel credit cards earn you rewards points when they're used for recurring payments or at eligible locations. These points can be used towards travel expenses such as airfare, hotel reservations, and vacation packages. This type of credit card is recommended for people who constantly travel.
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Cashback credit cards pay you back a portion of the amount you spent on recurring payments and at eligible grocery stores, gas stations, drug stores, and other eligible stores.
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LOW INTEREST CREDIT
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REWARDS CREDIT CARD |
Low interest credit cards have a lower interest rate than other cards. This is good for people who have trouble paying their credit card bill in full each month.
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When you use a rewards credit card at eligible locations, you earn rewards points that are redeemable for goods and services. This type of credit card is recommended for people who frequently use the goods or services that the points are redeemable for.
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