Debt Management To Reduce Debt

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Credit cards are part of our lives so get the one that is best for your situation. Three main types of credit cards are commonly used in America. All have different rates, terms and conditions. These days some terms and conditions are vulture like so mare sure you always understand what you are really getting into.

1) Travel and entertainment cards such as American Express or Diners Card. These have to be paid in full at the end of the month and are liberal on spending limits.

2) The second type are the bank cards such as Mastercard, Visa, GM, and Ford cards sponsored mainly by the banks. The banks define spending limits and each offers different terms and conditions. Banks offer a choice of payment methods, either pay the balance in full with no interest or pay a minimum part or some part of the balance with a finance charge.

Search a data base with hundreds of credit cards of all types here.

3) The other major type of card is the retail store cards such as Sears, J.C. Penney, Shell or Mobil. These cards, known in some countries (the ones from gas companies) as fuel cards are only accepted in specific countries and usually do not have annual fees. There is a big difference in the terms and conditions for the cards. So read the fine print.

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