Currently there are three primary kinds of credit card offered in the United States. The first type of card are entertainment and travel cards such as Diners Card and American Express. You will have to pay this type of card of every month in full, however the advantage is that they are liberal on limits of spending. Another type of card (and currently the most popular) are major bank cards such as Visa and Mastercard which are provided by the large banks. The bank specifies spending limits, that in bank parlance, is known as the credit lines, and each offers various terms and conditions. Banks offer a choice of payment methods, either pay the balance in full with no interest or pay a minimum part or some part of the balance with a finance charge. The other major type of card is the retail store cards such as Sears, J.C. Penney, Shell or Mobil. This type of card doesn’t have an annual fee and are known in some areas as fuel cards (specifically the ones from gas companies).
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