Credit cards today now come in many different types, credit card for people with outstanding credit rating, people with fair credit rating, for people with poor credit rating, for people with bad credit rating and even credit card for people with no credit history. This is mainly because not everyone is going through the same financial ordeal. And financial institutions are trying to give everyone a higher chance of approval as long as they meet the requirements set for each type of credit cards.

One of the most commonly used credit cards today is the balance transfer credit card. Because a lot of people have been hit by the financial crisis in the United States and other parts of the world, it is only natural for some of them to have missed some payments before and are now bound to pay higher interest rate than they used to. Balance transfer credit card allows them to consolidate all their debts into one credit card. This does not just make repayment easier and more manageable but it also puts a stop to the increasing interest from their previous banks.

Most balance transfer credit cards come with very low interest rate because it is especially built to accommodate huge amounts because of the consolidating processes. This is the reason why balance transfer credit cards are great for people who are paying for different loans because it allows them to control the amount of interest charges at the same time allowing them to pay them in fixed monthly installments. You control the interest rate, you get pay them in affordable and fixed monthly installments and you get to put a stop to late payment charges and over the limit fee, which by the way could take a huge toll out of your pocket.

Now, another type of credit card that is highly in demand today is the no credit credit card. These cards are especially built for people who don’t have credit history. If you want to know how to get a credit card with no credit, you can simply go online and search for financial institutions that offer this type of card.