Credit Card Types - Standard Credit Card

There are several different types of credit cards available for you these days. This is good news for you is that you can pick what you feel best fits your needs. Standard Credit Card is one of the types of credit cards you can choose.

Standard Credit Card

• the type you typically think about when talking about credit cards
• the most common credit card type
• revolving balance
• credit limit, or maximum amount of credit allowed
• you use credit to make a purchase
• once you pay for the purchase that amount of credit becomes available again
• if you do not pay in full before each grace period, finance charge is applied on top of the balance owed
• you must make a minimum payment each month, or by the specified due date
• late fees are applied if you do not pay minimum payment before or on due date