Re: how many types there are credit card?
Not sure what you mean by that. Credit cards are just credit cards. A debit card isn't a credit card, it's just an ATM card you can use to pay for things (instead of just using the ATM). Some credit cards come with different rewards, discounts on certain items (say for business oriented cards) and higher spending limits, but that's pretty much what differentiates them aside from the bank or business that hands them out.
Besides all that, there's unsecured and secured credit cards. Secured credit cards are issued to people with no or bad credit (like low-income and new immigrants). They are "secured" by a cash deposit (500$ for my bank) that the bank takes out if you can't pay your bill. After a certain amount of time and with good credit performance the security deposit is returned to you or whomever decided to secure you. Employers with new immigrants for employees often secure new credit cards for their employees.
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02-09-2008, 03:05 AM
