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Why are some credit cards not available in particular states?

In some states, like Wisconsin for example, consumer laws favor consumers and that restrains some credit card issuers. Whether or not a particular credit card offer is made available to Wisconsin residents or residence of other states depends entirely on the bank and varies with each credit card issuer.

What is credit?

Credit is the reputation you have earned for paying your bills on time that makes it possible for you to receive loans, etc. with the understanding that you will pay for them later.

Can a credit card company raise my interest rate without letting me know?

Yes, credit card companies can raise your interest rate and there is no telling how high a certain company will raise the rate. You can avoid this high interest hike by making timely payments every month, even if it is just the minimum payment. Some credit card companies will even raise your interest rate if you are late with other bills besides your credit card bill.

What is the difference between a secured credit card and an unsecured credit card?

A secured credit card means that a security deposit account is needed to secure the card. The security deposit will equal your credit limit. This amount allows you to build your credit history while enjoying all of the benefits of a credit card. An unsecured credit card is set in accordance with your credit history. There is not a security deposit required for this type of card. As your history changes so will your credit limit.

How does a balance transfer work?

If you have a balance on one credit card and then you receive another credit card, you may move the balance from the first card to the second. The issuer of the second card then pays the first card off and charges you the amount of the outstanding balance.