Credit Cards

A credit card is a plastic card that carries a lot of weight and power. A credit or debit card is almost mandatory to posses in a society that is moving away from paper money to electronic currency. The average person has anywhere from two to eight plastic cards in one form or another. Credit cards are used now as another form of personal identification, make purchases with, pay on debts and obtain cash with. A debit card is used in much the same way as a credit card to book a travel with a debit card money is taken out of an account. A debit card is only usable to a certain point and that's because money is put on the debit card. Once the limit is spent the card in not usable, until more money is reloaded back onto the card's value.

Reloadable credit cards a new and for the consumer an alternative to expensive fees such as interest added to the card each month. The only fees attached to the reloadable credit card is the one time set-up fee, the fee on reloading money to the card and the monthly fee for keeping the card account active. Businesses who accept credit cards charge a transaction fee by the credit card company and are paid the amount of money that was charged on the credit card. Secured credit cards are cards that have collateral attached in order to get the card. If the card has a limit of $800.00 then the cardholder must have at least that much in collateral securing the card’s value. Along with credit cards is the credit debt, which is now in the billions and now a credit crisis has been born.

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