These are:
- Credit Cards offer a line of credit at a certain interest rate called APR (Annual Percentage Rate). The APR is usually rather hight in the more than 10% rate. Some banks may even charge more than 20%. Besides this fee, banks may also charge annual fees for the card, and certain fees for late payment or even over the limit fees. A minimum amount must be paid back every month. Smart customer's usuallu do not need any credit at all, but like all the existing other features of US credit cards. :-)
- Charge Cards offer card payments, which will be charged once a month as an aggregate from an existing checking account. Usually there is no way to get any credit on these kind of cards. The debt must be paid in full any month.
- Debit Cards offer the least functionalities among all kind of cards. Payments with these cards will be directly debited to an existing checking account.
