Q. What are 'low intro' credit cards?
A. The term low intro refers to
an introductory period of low interest ( 0% APR for the
first 12 months, for instance ), followed by a higher
interest rate, sometimes referred to as a 'goes to'
rate.
Q. What are 'balance transfer' credit cards?
A. The term balance transfer
refers to a reduced rate of interest for balances
transferred to a new credit card from an existing one.
This lower apr may be for a limited time, or for the
life of the balance.
Q. What are 'cash back' credit cards?
A. Cash back credit cards
reward their owners by paying a pre-determined
percentage of the purchase price of certain goods and
services back to the purchaser in the form of a cash
rebate.
Q. What are 'air miles' credit cards?
A. Air miles credit cards
reward frequent fliers by building points that can be
redeemed for airline tickets.
Q. What are 'gas cards'?
A. Gas rewards credit cards pay
a percentage of total gasoline purchases for a given
month in the form of a cash rebate.
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