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Other Credit Cards
If you are taking the credit card tutorial you already learned about bank credit cards and retail credit cards.
Now I will give you some information on other credit cards.
Other Credit Cards are also referred as:
1) Travels Credit Card
2) Entertainment Credit Card
3) Discover Card
4) American Express
5) Diner Club
What are Other Cards and How They
Work?
• Small plastic cards
• Discover Card is offered by sears
• American Express is offered by American Express
• You can apply for these credit cards by requesting an application from the holder of the credit card company or by going online to the issuer's website.
• Usually assigns a credit limit to each card holder
• Can use at any merchant that accepts them. Some merchants don't accept these credit cards.
• Can get cash with the card.
• Can be used at most bank’s ATM machines to withdraw cash from the card.
• Charges interest if balance is not paid in full each month
• Charges fees such as over the credit limit fee, late payment fee and sometimes other fees apply too.
• Interest and fees varies from card to card.
• All will offers minimum balance payment plans except some american express cards.
• Will receive monthly statement
The monthly statement will show your last purchases since last payment, your due date, your balance, your minimum payment and the interest that’s charge. It will also show all fees that you owe such as late payment fee, etc
Click next page to learn about prepaid credit cards
Hi, I'm Abbie.
Your financial
education tutor.
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