Money market accounts offers its holders with interest on savings amount, with the possibility of debit card issuance and check issuance. It is considered a deposit account according to the US bank regulations. Savings account is also a deposit account, but without a check option, where payments and withdrawals are made online and in person, respectively. Certificates of deposit are deposit accounts, where money once placed mustn’t be withdrawn before the specific amount of time or otherwise penalties are applied.

A credit union is a non-profit financial institution that it reinvests its profit in better equipment, lower fees and better rates in doing business. Traditional banks’ main goal on the other hand is to maximize its profit and to fulfill its obligations to shareholders, meaning dividend payments.

When a credit card holder borrows money, the annual percentage rate (APR) or interest rate is charged with principal of the debt. Most credit cards offer the possibility of avoiding these payments if principal payments are paid in full after each month. Sometimes credit card issuers offer sign up bonuses, which are lump sum cash bonuses that are earned if certain payments are made with the approved credit card within a specified amount of time. It is important to carefully choose credit cards with this option, as sometimes it can result in an average end with possibly high fees for using the card. This can happen if it comes to overspending, causing the holder to rely too easily on this bonus, resulting in higher interest rates.