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Types of Credit Cards

Amid stiff competitions, credit card providers are coming up with different types of credit cards targeting different categories of people with different features and offering target specific benefits.

Besides the standard credit cards for general public, there are student credit cards, business credit cards, store credit cards, airline credit cards, gas credit cards, teen credit cards, etc. These cards are specially meant for the targeted group of people.

Standard credit cards

Almost all the credit card providers offer standard credit card meant for general public. They are unsecured credit cards that are available to people without any guarantee, security or mortgage from the users. The credit card companies generally see the credit rating of the applicant before providing the types of credit cards. In this category, you can get low interest credit cards and credit cards with reward points.

Business credit cards

Many card providers offer credit cards for small businesses. You should know the use of business credit card if you want apply for one. Having a business credit card can be a huge help to the company in a great many ways. However, if you are not careful, it could also have its disadvantages as well. You should understand what the credit card company is offering, how you can take advantage of it. Business credit card facilitates various business transactions that will make your life easy and comfortable.

Student credit cards

Students credit cards are meant for college and university students. Most card providers ask eligibility criteria for the applicants of student credit card that you should be 18 years old and you should be enrolled in a college or a university. Credit card companies offer student-specific benefits in the purchases with the student credit cards. The card providers also facilitate students to pay college fees with the card. There are many other benefits you can avail by using the student credit cards.

Gas credit card

With this card, you can purchase gas at the pump or at the convenience store. Some gas card provides reward with the purchase of gas with card. You can earn cash back rewards and rebates in purchases.

Travel credit cards: One such card available is airline miles reward credit card. It is offered in partnership with a credit card company and an airline company. This card allows you to earn points or miles for every dollar spent with the card. After earning a certain number of points, you can get ticket for air travel with the applicable airline. Airline miles reward credit cards also provide more travel-related benefits then other credit cards, like a higher amount of travel insurance coverage.

Balance transfer credit card

You can save hundreds of dollars with the balance transfer credit cards. Some credit card offer 0% introductory APRs for six to 12 months in every transactions you make. So you can transfer your balance from a loan which has high interest rate to a card which offers 0% APRs.

Credit cards for bad credit

This is a special type of credit card for people with bad credit. The card companies put some restrictions not typically found on other types of cards. The credit card limit is lower in such cards. Some companies ask for some type of security from the applicant before providing the credit card. They may ask you to maintain a savings or some other type of account that will cover the expenses on the credit card.

Besides, credit card companies are offering cash reward cards to attract the prospective customers. They offer cash rewards in every purchases made with the card, discounts in the selected products purchases from some partnered companies or selected stores. Credit card companies are also providing store specific card meant for purchases in the select general or convenience store only.

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17 thoughts on “Types of Credit Cards”

  1. I have very poor credit and looking to do something about it. Credit common suggest that i try to receive another card this time using it as suggested. Can you please help me with this situation

    1. Premiere platinum or capitol one platinum always make atleast your monthly payment on tine of just 25.00 on capitol one n only use 30% of your credit… No fee to start or premiere 75.00 tog start outta your credit line but 39.00 monthly payment! Three bank cards you definitely want to pay on time

  2. I have bad credit I really want the chance to start over good credit is so very important I will make my payment thank you

  3. I have bad credit a unsecured credit card would be a good way to build my credit up if you would do this for me I would greatly appreciate it thank you

  4. I ‘m looking for an unsecured Visa or Mastercard with at least 500 credit limit without an annual fees fi I can get it I would appreciate it Thanks Vashon V Clark

  5. I would like to apply for one more card to help boost my score and limits,however three shady collection agencies turned some medical bills into collections. One of the bills they have turned in twice. These bills are under dispute as they have been paid and some of them were eligible for charity care from the medical providers. There was a cease to remove these from my report. They refused to, so now I am working with the consumer credit agency, and the Attorney Generals office to get this matter settled. Will this make a difference in my request for a new card if they know these items are incorrect and under dispute

  6. Because of a personal loan I default it on that my dad signed with me before he died and because of bunch of a medical expenses and a bunch of hard credit pulls apparently trying for cards I thought I was guaranteed for I have a low 400 credit score and I need an unsecured credit card for emergency situation with only a $300 limit what should I do please help me I’m begging and I have no money for the down payment on a secured one

  7. I ha.ve very good credit. Over 7. Years ago we lost our home completely due to the Erskine Forrest fire. In the meantime I had a.brother who had taken 4 of my very excellent credit ony part by keeping my payments clean and upp too date. Yet this brother with severe Bi polar and depression Parkinson’s disease. After 5 years of courts, Drs and lawyers all was settled my credit supposedly back up to snuff until Experian got a hold of it. They keep regressingy credit rating yet I have accounts they don’t recognize, keeping me in the piss bottle. Otherwise I’d have excellent credit. What is their problem?

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