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Credit Card Applications » Questions » User Questions » Other » I can’t figure out whether I should get a store credit card, a cash back card, a prepaid card, or a ...

I can’t figure out whether I should get a store credit card, a cash back card, a prepaid card, or a secured credit card. It all seems so complicated. Can you help me understand the differences?

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Leo Zhu

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.

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