The table below defines the different categories of offerings. Click the term in the left column to see our comparison.
| Category |
Description |
| Low Intro Rate |
A Low Intro Rate card has a very low or zero rate for the first 6-12 months. After the introductory
period, the rate will rise to an average rate. The low intro period rate may apply to purchase, balance transfers
or both.
A low interest card can save a significant amount of money if you carry a high balance from
month-to-month or are expecting a large purchase. |
| Balance Transfer |
Balance transfer cards are ideal if you have a large balance on another card with a higher rate. These card will
not have any charges for making the balance transfer. You will save the difference in the two rates and save even
more during any introductory period that may apply. |
| Instant Approval |
These cards have on-line applications that are almost immediate. The features vary from card to card and you can
get an application response usually within minutes. Perfect if for someone in a pinch or for the procrastinator ! |
| Cash Back |
Cash Back cards are a type of reward card that will issue a credit or actual check to the customer at the end of
a time period (usually one year). The percentage rate of the cash earned is usually based on the amount charged to
the card during the period. The more you charge, the higher the rate returned.
These are excellent cards if you put a large amount of charges on the card and pay the balance
every month. |
| Rewards |
Reward cards are any type of credit card that will compensate the card holder for use of the card. Cash back, flyer
miles, hotel, and car and gas discounts are examples of rewards cards. |
| Specialty |
As Specialty Credit Card offers become more popular, credit card issuers are increasing
the benefits consumers can receive. If you frequently use the same company's products or services, or are loyal to
a certain brand, a specialty credit card can generate excellant rewards. |
| Flyer Miles |
Flyer Miles cards are another type of reward card that will issue points for each purchase made with the card.
The points can be redeemed for airline tickets or upgrades. Some card offer instant rewards just for having your application
approved. |
| Car and Gas |
Car and Gas cards are becoming more popular as credit card issuers have joined with automobile manufactuers and
gasoline retailers to provide additional incentives to consumers. If you stick with one brand
of cars or gas, these cards can generate some of the best rewards. |
| Business |
Business cards are targeted towards the business owner or executive. Most have a high limit, low rates and many
automatic benefits. |
| Students |
Student cards are ideal for those just getting started establishing credit. The credit limits are lower than other
cards but most do not require much if any credit history.
Perfect for the student wanting the convenience of a credit card. |
| Easy Approval |
These cards are for those with less than perfect credit. The institutions that issue Easy Approval cards are much
more lenient in the approval process.
If you are experiencing a bump in the financial road, or on your way back to a good credit rating,
on of these may be the card for you. |
| Prepaid Debit |
Prepaid Debit cards, technically, are not a credit card. There is no credit issued. Once an account is established,
the customer places funds into the card account then can use the card anywhere a credit card is accepted as long as
funds are available. All the convenience of a credit card without any credit.
An excellent choice for those on their way to credit recovery and also for anyone not wanting
to incur debt. |
