As well as providing
useful spending options these terms might also tempt the holder
of another, interest-bearing card to transfer their deposit
to the 0% card.
Similarly most issuers
offer special deals on balance transfers at different times.
Thus if a card user is paying interest at a certain APR they
will, by transferring that balance to another card with a balance
transfer offer, be able to pay the outstanding balance at a
reduced rate of interest. Many cardholders in fact minimise
their repayments by moving balances around between cards to
take advantage of every offer that comes their way.
A separate approach
entirely is the issuing of rewards or points depending upon
how often a cardholder uses their card and how much indebtedness
that person accrues. These points can then be converted either
into cash or into goods, depending upon the offer at hand.
An altogether different
type of card is the credit repair card, sometimes called a bad
credit card. This card is available to discharged bankrupts
and others who have experienced financial difficulty and is
a useful means through which they may begin to rebuild their
creditworthiness in the eyes of potential lenders. Sometimes
these are prepaid so that no credit is actually offered, but
nonetheless they do provide the cardholder with a means of demonstrating
some responsibility in the handling of a card.
are the various credit card types explained. There will of course
be others, as issuers look for increasingly original ways through
which to provide incentives and to give themselves a head start
over their competitors. Compare the leading credit card deals
above and find your best credit card deal online today.