You've finally come to that stage in life when you can afford to own a credit
card, not as a supplementary cardholder but as the principal cardholder.
Finally, you've earned the right to have a credit card in your own name and to
be able to purchase whatever you want without having to ask anybody else's
permission. But now that that time has come, you find yourself in a quandary -
what type of credit card should you apply for?
There are just two basic choices for you - do you want a credit card that offers
rewards and one that doesn't?
The Non Reward Type of Credit Card
These credit cards do not offer you any reward points or bonuses no matter how
many times you use their credit cards or how prompt you are when it comes to
credit card payments. Instead, this type of credit cards allow you to waive
interest charges for a certain period of time or avail of lower interest rates
than those offered by reward types of credit cards.
Basically, there are two choices that you're given when it comes to the non
reward type of credit card. The first one would be a credit card that offers 0%
APR intro rates. When you get yourself this kind of credit card, you'll be able
to purchase anything without having to worry about contending with high interest
rates. But the 0% APR is only applicable for a certain period of time because
it's an introductory offer. Once it's over, the APR will revert to normal.
The second type of non reward credit card is the low interest ongoing APR credit
card. Although it's not 0%, the interest rate may be lower than what the new APR
would be for a credit card with 0% APR intro rates.
The Reward Type of Credit Card
If you don't find yourself excited with all those low interest rates being
offered by non-reward types of credit cards then perhaps you'll find your heart
racing with credit cards offering rewards.
With this type of credit card, the interest charge is usually higher but you
really don't care about that, do you, if it means being able to win a iPod Mini
later on, does it? With reward types of credit cards, frequency of use and
promptness of payment matter a great deal. There are also a whole variety of
rewards being offered so you're surely be able to choose one that you truly
desire.
Author Bio
Michael Colucci is a technical writer for Low
Interest Credit Cards - A site that offers credit cards with an intro rate
of 0% for 12-15 months.
Article Source: http://www.ArticleGeek.com
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