Different Types of Credit Cards and Understanding Credit Card Terms
0 views
Skip to first unread message
Robert Benjamin
Mar 13, 2013, 12:36:05 AM3/13/13
to publish-the...@googlegroups.com
*****************************************************************
Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Robert Benjamin
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=656435
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=656435
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Different Types of Credit Cards and Understanding Credit Card Terms
Author: Robert Benjamin
Word Count: 534
Article URL: http://www.isnare.com/?aid=656435&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=656435
Easy Publish Tool: http://www.isnare.com/html.php?aid=656435
*********************** ARTICLE START ***********************
What Is The Difference In Credit Card Types ?
There are credit cards for everyone, I will explain two major differences between them so you will understand.
Secured Credit Cards:
A credit card secured by a savings account that has been established in advance by the borrower. The amount in the account usually determines the limit on the credit card. These accounts present no real risk factor for creditors and are therefore much easier to obtain. The required savings deposit for a secured card may range from a few hundred to a thousand dollars or more. Your credit line is a percentage of your deposit, typically 50 to 100 percent. Usually, a bank will pay interest on your deposit. In addition, you also may have to pay application and processing fees -- sometimes totaling hundreds of dollars. Before you apply, be sure to ask what the total fees are and whether they will be refunded if your denied a card. Typically, a secured card requires an annual fee and has a higher interest rate than an unsecured card.
Unsecured Credit Cards:
Unsecured credit cards require no deposit to acquire. They are given based upon the applicants high credit score.
Credit Card Terms ?
There are numerous credit card terms, and you should understand them, because not knowing what they mean, can be costly. Here is a list of the important ones and a summary of each:
Over The Limit Fee:
Some credit card companies charge you if your purchase exceeds your credit balance. Instead of the purchase being denied, it may be approved. But the next time your monthly bill arrives, you may be hit with a charge of an extra $20 or even more! This charge will probably be on each additional bill, until your balance is again within the
normal credit limit.
Late Fee:
This is a charge you will be hit with, if your payment is not received and processed by the payment due date. This can be $20 or more a month.
Minimum Payment:
This is the amount you must pay to keep the card from going into default. If you fail to make the minimum payment, you can be hit with a monthly 'late fee', just as if you failed to make any payment.
Annual Fee:
Some credit card companies charge an annual membership fee. This extra charge can range from $20 to $100 or more. Once a year this fee is added to your total balance due.
There is a website that shows you numerous sources for getting a credit card or a fast cash loan, even if you have bad credit, also you can discover the best sources for credit reports, help prevent identity theft, understanding credit card terms, and much more, this website is called: Credit Cards and PayDay Loans, and it may be found at this URL: http://www.rb59.com/creditcards
You may publish this article in your ezine, newsletter or on your web site as long as it is reprinted in its entirety and without modification except for formatting needs or grammar corrections.
About The Author: Robert W. Benjamin has been in the software business since the early 1980's on the VIC 20, C64, AMIGA, and WINDOWS Computer Systems. He has won magazine awards for the 'Game of the Month', and more, in several European computer magazines. Credit Cards and PayDay Loans http://www.rb59.com/creditcards
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=656435
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Robert Benjamin
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=656435
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=656435
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Different Types of Credit Cards and Understanding Credit Card Terms
Author: Robert Benjamin
Word Count: 534
Article URL: http://www.isnare.com/?aid=656435&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=656435
Easy Publish Tool: http://www.isnare.com/html.php?aid=656435
*********************** ARTICLE START ***********************
What Is The Difference In Credit Card Types ?
There are credit cards for everyone, I will explain two major differences between them so you will understand.
Secured Credit Cards:
A credit card secured by a savings account that has been established in advance by the borrower. The amount in the account usually determines the limit on the credit card. These accounts present no real risk factor for creditors and are therefore much easier to obtain. The required savings deposit for a secured card may range from a few hundred to a thousand dollars or more. Your credit line is a percentage of your deposit, typically 50 to 100 percent. Usually, a bank will pay interest on your deposit. In addition, you also may have to pay application and processing fees -- sometimes totaling hundreds of dollars. Before you apply, be sure to ask what the total fees are and whether they will be refunded if your denied a card. Typically, a secured card requires an annual fee and has a higher interest rate than an unsecured card.
Unsecured Credit Cards:
Unsecured credit cards require no deposit to acquire. They are given based upon the applicants high credit score.
Credit Card Terms ?
There are numerous credit card terms, and you should understand them, because not knowing what they mean, can be costly. Here is a list of the important ones and a summary of each:
Over The Limit Fee:
Some credit card companies charge you if your purchase exceeds your credit balance. Instead of the purchase being denied, it may be approved. But the next time your monthly bill arrives, you may be hit with a charge of an extra $20 or even more! This charge will probably be on each additional bill, until your balance is again within the
normal credit limit.
Late Fee:
This is a charge you will be hit with, if your payment is not received and processed by the payment due date. This can be $20 or more a month.
Minimum Payment:
This is the amount you must pay to keep the card from going into default. If you fail to make the minimum payment, you can be hit with a monthly 'late fee', just as if you failed to make any payment.
Annual Fee:
Some credit card companies charge an annual membership fee. This extra charge can range from $20 to $100 or more. Once a year this fee is added to your total balance due.
There is a website that shows you numerous sources for getting a credit card or a fast cash loan, even if you have bad credit, also you can discover the best sources for credit reports, help prevent identity theft, understanding credit card terms, and much more, this website is called: Credit Cards and PayDay Loans, and it may be found at this URL: http://www.rb59.com/creditcards
You may publish this article in your ezine, newsletter or on your web site as long as it is reprinted in its entirety and without modification except for formatting needs or grammar corrections.
About The Author: Robert W. Benjamin has been in the software business since the early 1980's on the VIC 20, C64, AMIGA, and WINDOWS Computer Systems. He has won magazine awards for the 'Game of the Month', and more, in several European computer magazines. Credit Cards and PayDay Loans http://www.rb59.com/creditcards
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=656435
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
Reply all
Reply to author
Forward
0 new messages