Different Types of Payment Cards and Their Uses
                     ●  O P T I O N S
Card Types Compared
Pick what fits how you pay
TA R G E T  R E D C A R D  G U I D E    ·    2 0 2 6  E D I T I O N
●  C A R D  T Y P E S
The main types 02
Credit card
1
★ A line of credit you repay.
Debit card
Reloadable
2
A prepaid-style spend control.
Links to your bank balance.
Family use
3
Add authorized users where offered.
T A R G E T  R E D C A R D  G U I D E 02  /  06
●  C A R D  T Y P E S
Debit card notes 03
No credit check
1
★ Simpler to open.
No interest
Daily limits
2
Capped spending for safety.
You spend your own money.
Instant
3
Funds leave your bank quickly.
T A R G E T  R E D C A R D  G U I D E 03  /  06
●  C A R D  T Y P E S
Credit card notes 04
Monthly bill
1
★ Pay the balance each cycle.
Build history
Interest
2
Carrying a balance costs more.
Good use can help credit.
Approval
3
Based on a credit review.
T A R G E T  R E D C A R D  G U I D E 04  /  06
●  C A R D  T Y P E S
Which to choose 05
Want flexibility
1
★ Credit spreads out payments.
Want control
Avoid debt
2
Debit avoids interest.
Debit keeps you to budget.
Build credit
3
Credit helps if paid on time.
T A R G E T  R E D C A R D  G U I D E 05  /  06
✓
Choose with confidence
Next — managing your account.
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