Many people are confused by the many different credit offerings you are describing. The first thing to know is that one of those cards you mention – a prepaid card – is not actually a credit card at all. This type of card is closer to a debit card, because you load money onto it and then spend until it’s gone. It’s a popular type of card and has many benefits, but it’s not in the same ballpark with the others. Store credit cards are also sometimes limited in their use; some of them can only be used at the retailer who issued them. Others can be used anywhere. Cash back credit cards are rewards cards that give you a percentage back on every dollar you spend, while secure cards require a deposit to open the account. They are generally for folks with less-than-perfect credit, who need a credit card. When deciding which card is right for you, look into each type and think about how you will use the card, what your credit score is like, and whether you need a prepaid card or a credit card.
BEST CREDIT CARD OFFERS from our partners:
Get 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the APR will be 12.24%-22.24% based upon your creditworthiness.
For Excellent/Good Credit
1% cash back on select purchases, terms apply
For Fair Credit
Guaranteed $500 Unsecured Credit Limit
For Bad Credit