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Nowadays credit cards have become a sort of identification. Before one is able to rent a car, besides cash a major credit card is needed. It is not an unusual thing seeing people with a couple to three credit cards. You can even have more than those numbers so long as you know how to manage them.

The concept of credit card started in the early nineteenth century and has created a great impact in the modern days. It is easy to apply for a credit card but the real challenge is finding the right card for you.

Credit cards have different features and each one of them is especially designed for the varying individual needs and interests of its user. Here are the most common types of credit cards and the basic facts about them to help you determine which card would best work for you.

The most common of the cards is the standard credit card. In this type of card, a credit limit is designated by the bank or the company. The available credit could be used to make purchases and can be used again when payment is made. A monthly minimum payment should also be made and charges may apply when payment has failed.

Unlike the standard credit cards, charge cards have no credit limit. No minimum payments are required but at the end of the month, full payment should be made. Since the balance should be paid in full, there would be no need to pay for interest charges.

Debit cards and prepaid credit cards are often used synonymously. In both cards, a deposit should be made to the card before it can be used for a purchase but unlike debit cards, the card user need not open and maintain a checking account with any tie-up bank.

When you use your credit card regularly, it may be your advantage if you go for rewards credit card. Each time a purchase is made; the cardholder earns points which he could exchange for a certain merchandise, phone call minutes or maybe free gas. While there are also rewards card that gives free or discounted tickets through their frequent fliers program. 

With the benefits of owning a credit card, shopping turns out to be a hobby for most people but when managed improperly such hobby could turn into a nightmare. Be responsible card owner and you'll never experience the burden of getting deeply indebted.