Reader’s Question:

I am a student away from my home country and I have a BIG plan to apply for a credit card which might be handy for some emergency uses. Any tips of which one would I could choose here in Cheyenne, Wyoming WY?

Deborah

Cheyenne, WY

Like you, I had to encounter that kind of situation during my college years off-state. There are several types of credit cards out in the market today with different features and different credit limits depending on your needs, financial capacity, spending habits and life style.

There is what we called standard credit card. This type of card has revolving credits that enable the user to spend up to a certain credit limit. The revolving credit has a corresponding interest rate and finance charges when your credit due is already beyond grace period.

The second type is the one we called secured credit card which requires you to make deposit based on the credit limit on the account. Between standard and secured, secured credit cards charges more fees.

The third type is balance transfer credit card, this type of card enables the user to combine several credit card balances and charged at a lower interest rate.

Then, there is also what we call Reward credit card, it gives freebies and gifts based on your card usage. The best among all reward credit cards is the one that gives more rewards than how much it cost.

Finally, the card that fits with you most, the Student Credit Card. This card is designed for college-aged consumer who lacks credit history or just starting out with credit.

Which ever among these cards you decided to choose in Cheyenne, Wyoming WY, always remember never to spend more than your financial capacity to avoid bankruptcy.

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