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Which Credit Card Is Your Best Fit?
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Guest Writer
Posted October 27, 2022
Deciding what type of credit card is right for you can be a hassle. When researching a credit card there is much to consider. Finding a credit card with an affordable interest rate, deals that match your lifestyle, and is within your desired credit limit are all things to be considered. Below I’ll touch on two different types of credit cards, one being a store card and the other being a financial institution credit card.

Store cards are credit lines offered/available to eligible customers at the store. Depending on the store, the card can be beneficial to you in various ways. The card could have reward points associated with purchases made either at the store or any place. Store cards can also offer special coupons available to cardholders specifically. An interesting benefit store cards can offer with certain purchase amounts is an opportunity for extended payment plans up to 18 months, depending on the amount of the purchase. When looking at store cards, consider that some are only eligible for use in that store.

Credit union credit cards tend to offer lower rates and fees, which can be beneficial if you are one of those borrowers that can’t necessarily pay in full by the monthly due date. An upside to credit union credit cards is by holding that credit card, there is a chance to have access to other products and services the credit union or bank has to offer. Credit unions generally have a certain membership criteria that must be met, which could deter certain applicants.
Similarities that both types of cards offer is cash back. Generally with credit cards there will be up to 3% cash back on purchases such as gas, groceries, certain businesses, and even a 1% cash back on all purchases. Cash back over time can add up and be used for a future purchase or even put toward a future payment.

It is important to pick a card that best suits your lifestyle so that you are getting the most out of your credit line.
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