#30DaysOfTesting - Day 30: credit cards
Find 4 different types of credit cards; learn what makes them different.
I had a bit of a double motive going into this learning exercise. They say millennials don’t have enough personal finance literacy, so I particularly enjoyed today’s topic around discovering the different types of CCs, the benefits they provide, and who they cater to. Thanks to an easy-to-follow breakdown by The Balance (a resource I encountered on Day 23), and NASDAQ which I guess is a legitimate resource on the subject matter 😏.
💳 Standard CCs aka “Plain Vanilla”
You might choose this type of credit card if you want a card that isn't complicated and you're not interested in earning rewards. Credit is used up when you make a purchase and made available again once you've made a payment. A finance charge is applied to outstanding balances at the end of each month.
💰 Rewards CCs
Offer rewards on credit card purchases. There are three basic types of rewards cards: cashback, points, and travel.
Source: https://www.thebalance.com/types-of-credit-cards-960255
🛠 Bad credit and/or credit repair cards
There are several options available to those who have had bad credit in the past and for those who are currently trying to repair their credit.
🌟 Specialty CCs
For consumers with unique needs for their credit use, such as business professionals and students. These credit card programs are designed specifically to meet the needs of those individuals.
Source: https://www.nasdaq.com/personal-finance/credit-card-types.stm









