A quick decision (usually within minutes) as to whether your credit application got approved.

Open loop gift/credit cards are cards that are not limited to use at one store or one particular group of stores. Usually, these cards carry the logo of American Express, Discover, MasterCard, or Visa. They also typically have more fees associated with them than closed loop cards do.

Annual membership fees, late fees, or penalties charged to a card holder by a credit card company.

Arranging to have your credit card tied to your checking account, so if you spend more money than is in your checking account, the balance is charged to your credit card. This allows you to avoid a returned-check fee.

Your credit card company may allow you to exceed your credit limit without warning, but that does not mean that they might not assess you a fee for going over your credit limit. For consumer and student credit cards, you must first tell your credit card company that you want it to allow transactions that will take you over your credit limit. Otherwise, if a transaction would take you over your limit, it may be turned down. If you do not opt-in to over-the-limit transactions and your credit card company allows one to go through, it cannot charge you an over-the-limit fee. For small business credit cards, if you spend over your credit limit, you will usually get an over-the-limit fee. You do not have the option to opt-in like you do with general consumer credit cards.