The Traveler
The Big Spender
These are people who love to impulse buy. They see something on sale or a new gadget come out and they must have it immediately and onto the credit card it goes. People who love to impulse buy often buy expensive things. Therefore their credit cards are usually the kind that offer some sort of cash back. The more they spend, the more cash back they get. Example: Chase Freedom
The Ones Who Live For Tomorrow
Most credit cards set you up so you can earn points and spend points almost immediately. There are those out there who don’t want or need the rewards so they get a card that allows them to invest in the future. An example is the 529 Program where all cash back rewards or miles are grouped into a college tuition account that grows tax-free. If you see someone with a card like that, you know they’re thinking of the future. Example: FutureTrust Mastercard
The Beginner
Getting a credit card for the first time can be daunting. Most younger people who have no credit can’t get these epic credit cards that more experienced people can apply for. Usually they end up with a prepaid credit card. These are the ones where you give a bank $500–$1000 and they issue you a credit card for that amount. You treat it like a regular credit card but if something happens, the bank can close the account without sending the poor card holder into debt. If you spot someone with one of these cards, they’re likely building up some credit. Example: Ask your local bank for details on credit cards like this.
The Debt Manager
Just because you have a credit card doesn’t mean you’re trying to spend money. Sometimes it means you’re trying to pay back money. The debt manager has a credit card but never uses it because they got that card to transfer the balances of other debts onto their credit card. They’re paying it off and being responsible (hopefully) and their strategy allows them some flexibility. Example: There aren’t really any credit cards specifically for balance transfers but you can find credit cards with lucrative features for transferring balances.
The Homemaker
There are credit cards out there with rewards for purchases specific to the house and home. Groceries, home improvement items, etc. are included, so whenever you buy food or improve your home, you get rewards. If you see someone who’s always buying things for their home and who seems to enjoy it a little too much, then you’ve liked run into someone with a card that rewards them for it. Example: The Barclaycard Rewards Mastercard offers double points on things like groceries.
Mr and Mrs Attention To Detail
Some credit cards offer a range of features that are great for people who like to go over life with a fine-tooth comb. They like to check their credit scores often, get rewards on a variety of purchases, and want to make sure they have customer service whenever and wherever they may need it. When it comes to their finances, they know where every penny is all the time. Example: Discover It card.
The Socialite
A Most Simple Person
There are those out there who just don’t want all the bric-a-brac that comes with today’s modern credit cards. The rewards, miles, weird deals, and such are just too complicated to keep track of and they don’t want to go through the hassle. They have a simple credit card. No features, no miles, no rewards, and there are certainly no weird specials to keep track of. They spend money, they pay it back, and they get on with their lives. Example: Citi Simplicity Card Featured photo credit: Screen Junkies via cdn2.screenjunkies.com
