Overwhelmed at the large number and variety of credit cards available today? The following is a summary of the cards out there.

Credit Card
A Credit Card enables you to purchase anything up to a certain set limit that that particular card holds before you are required to pay for it. This type of card is similar to a loan, were you are required to pay a minimum monthly amount. This is the "Buy Now Pay Later" concept.

Debit Card
With This card you can buy good with the money that is already in your account(s). The amount you spend is immediately taken from your account. Some good things about this is that You spend what You have and will not owe it later, as well there is no waiting for the bill and having to remember to pay it. With A Debit card opposed to a Credit card there can be poorer protection in cases were your card is stolen or if there happened to be a billing dispute.

Charge Card
This Card is much like the Credit Card the only difference is that it must be paid completely monthly. Therefore not allowing flexible pay times, but you are kept up to date paying what you owe regularly!

Cash Card
This Card allows you to withdraw cash from an ATM machine. Like the debit card it has to have a special PIN number that identifies the user.

Cheque Guarantee Card
This is a card that the bank gives you that guarantees the person you are purchasing from that your cheque is guaranteed not to bounce up to a set limit on the Cheque guarantee card.

Store Card
This is a type of credit card that is only usable in the stores indicated or online with the stores indicated. For Example Sears Card, Esso Card, Wal-Mart Card. There are usually set limits and these are adjustable per clients individual credit history. Again at the end of the month there is a bill sent out with the stated minimum payment.

This breaks down what each card basically functions as and hopefully you can pick the one(s) best suited for Your Personal and business needs.