Presented by Daniel Toriola
Credit cards are very useful. Normally there is no requirement of any collateral, and the amount of credit is fixed
on the basis of the perceived creditworthiness of the primary holder, which is usually dependent on the
person’s credit score.
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Our world of Credit Cards! Which One Is Right For You.
By Mike Yeager
Our world of Credit Cards! Which One Is Right For You.
by: Mike Yeager
There are not many of us who do not have a credit card these days. But, not all of us are as wise in the
area of understanding how they work and how they make money. There are many types available to
the young and old. Student credit cards even begin to get teenagers into the world of credit cards.
Secured credit cards, cards that usually can't be written off, are even misleading in their name. So,
what does that discover credit card in your wallet actually do for you?
Even young adults are being lured into the world of credit cards. Student credit cards are widely
available. Some link the parent to the card, others are geared towards college students who most of
the time don't even have jobs to pay for them. They seem like a great way to pay for college expenses,
but the fees can be outrageous.
A big trap is secured credit cards. While there are always options out there that are legit, there are
many others that are not. Often times, people with little or no credit or even bad credit can get a
secured credit card. These are credit cards that are linked to savings accounts which require a
minimum balance to be kept. While this seems easy enough, if you default on it, they can claim their
money through that savings account. Another aspect of these types of credit cards are the fees
associated with them. They often require set up fees, sometimes in the hundreds of dollars. They may