ChargeItStandard Credit Cards
Note
We will look into credit scores later in the course.
Important
Under federal law, if your card is stolen or lost, a lender is only responsible to refund any charges over $50. Most cards offer $0 liability but always do research on a card.
Don’t try to find this name on any official site. The name is a bit misleading since most credit companies will not call their card “Standard”. Just like a burger joint wouldn’t entice you with “The Regular Burger”. Credit companies use fancy names and glitzy features to disguise the most common credit card.
Standard cards are defined as not having a security deposit. Features and benefits vary per company and your individual credit score. Most regular cards have a mid to low APR (low relatively defined below 9% and mid up to 19%).
Benefits Have you heard these terms: “Cash back rewards, loyalty points, no hassle rewards”? Most cards will offer benefits that can include, gift cards, airline miles, free gifts, or other cash offers. The more you use their card, the more points you rack up. Some offer different point distribution based on where you shop or what you purchase. Its often best doing a bit of research on these offers and see what you can get at different cards for the same points (keep in mind: point calculations vary). With most cards you receive a longer warranty, 0 liability if lost or stolen, and travel accident insurance.
Identify
Search for
“Zero Liability” in Google.
What does would this feature mean for your finances?