All Women's Talk

7 Things Your Credit Card Says about Your Spending Personality ...

By Valencia

Whether you realize it or not, we all have a spending personality. And what's interesting is that the credit cards in our wallet say a lot about our spending personality. So, what does your credit card say about you?

1 No-frills Credit Card

A no-frills credit card is a simple credit card, often called a plain vanilla credit card. These credit cards come with very few perks and they don't offer a reward programs. Typically, people who have no-frills credit cards are simple spenders. They don't use credit cards regularly, and they only pull out plastic during an emergency. Because their credit cards don't get much use, there's no need for all the bells and whistles.

2 Airline Credit Cards

Although airline credit cards can be used at any retail store, you'll receive additional perks when using these credit cards to book air travel. If you have an airline credit card, you're undoubtedly a frequent traveler. You don't want to pay full price for airfare, hotels and other travel deals, so you use this credit card as much as possible in order to score freebies and upgrades.

3 Reward Credit Cards

Reward credit cards let you earn points, miles or cashback for every dollar you spend at retail stores. The more you use these credit cards, the more reward points you earn. Since reward points can be redeemed for air travel, hotels, gift cards, merchandise, cash and statement credit, these cards are perfect for people who use credit cards regularly. And because these credit cards get heavy use, most users pay off their cards every month to avoid debt.

4 Secured Credit Cards

Secured credit cards are perfect for people looking to establish credit or rebuild their credit history. Either way, having a secured credit card means you recognize the importance of a good credit score and you're taking steps to improve your situation. Since secured credit cards require a security deposit, anyone who applies can get approved.

5 Balance Transfer Credit Card

A balance transfer credit card is perfect for anyone who's serious about debt repayment. These credit cards typically feature an introductory rate of 0%, so it's one of the best tools for consolidating or simplifying credit and getting out of debt faster. Debt repayment is easier because all of monthly payments go toward paying off the principal balance during the first 12 to 18 months.

6 Student Credit Card

A student credit card gives young adults the opportunity to jumpstart their credit history at an early age. However, credit card eligibility requirements have changed since 2009. Today, only students with acceptable income or a cosigner can get approved for student credit cards.

7 Retail Store Credit Card

If you have a retail credit card, you're loyal to a particular store, and you probably shop at this store more than others. As a cardmember you might be eligible for free shipping or deferred billing. Since retail store accounts have higher rates than major credit cards, you might pay off your balances every month to avoid high interest charges.

Our credit cards say a lot about our spending habits and credit lifestyle. In fact, it's important to choose the right card based on how we spend and what we consider important. What does your credit card say about your spending personality?

Please rate this article




Readers questions answered