6. Special types of bank credit cards

Many credit cards offer features that are tailored to users preferences and lifestyles. In the following situations, identify which credit card is a good choice to achieve the users goal.

Special Bank Credit Cards for Different Lifestyles and Preferences

Carlos has a history of charging a lot on his credit card and doesnt carry a high monthly balance. Carlos loves cars and plans to trade in his cars every two years, if not more often, for new ones.

Which credit card is the best choice?

A reward card with an automobile rebate program

A secured card

Any affinity card

Why is that card the best choice?

Carloss low monthly balances will protect his collateral.

The high-charge volume will provide funding for Carloss favorite political organization.

The high-charge volume will provide points to use toward supporting Carloss relatively expensive plans.

It is January and Felix just realized that he forgot to make his annual contribution to his favorite charity. He wants to make sure he doesnt forget again to make a contribution. Felix has good credit and should easily qualify for a new credit card.

Which credit card is the best choice?

A secured card

The affinity card sponsored by the charity

Any reward card

Why is that card the best choice?

Felix can donate the reward card points to his favorite charity

He cant default on the card

The charity will receive a portion of the cards profits

Larry has $1,000 in cash. Larry also has a very bad credit history, but wants a credit card.

Which credit card is the best choice?

The affinity card sponsored by the alumni association

A reward card with a frequent flyer program

A secured card

Why is that card the best choice?

Its the only card he will probably qualify for.

He can offer the $1,000 as collateral.

Both of these.