i'm really unsure on what they are.

do you have to pay in advance?
what are the typical limits?
and what are the payments each month for those limits?
how old must you be to obtain one?
and just tell me a bit more about them
can someone please help me out i've been wondering for some time.

There are 2 types of credit cards. Secured and Unsecured. Unsecured you have to qualify for or pay an annual fee to have the card. The interest rates depend on your credit score and whatever the prime rate is.The Prime Interest Rate is the interest rate charged by banks to their most credit worthy customers (usually the most prominent and stable business customers). The rate is almost always the same amongst major banks. Right now it's about 8%. Then the secured credit cards are for those who are unable to qualify for unsecured, or are just starting to build their credit. With these you put a certain amount of money (usually about $300 to $1000) into a savings account and the bank gives you a credit card using those funds as collateral. After having the secured card for about a year and paying your bill ontime you can then make it an unsecured card and get your money back plus interest because of the funds being in a saving account..

A credit card offers an unsecured loan. Because it is unsecured, the interest rates are higher than a loan that has collateral. You must be at least 18 to engage in a contract. They will do a credit check to see if you can afford a card. The credit limit depends. The minimum is usually about $300. If you repay on time, thay will eventually raise your limit. The monthly payment depends on how much you owe and the interest rate you have. Some credit card companies also offer a pre-paid card whereby you "load" the card with value and spend it till it's gone. There are all kinds of fees associated with a pre-paid card. I'd avoid it. Here's more info.

-MM