Types of Credit Cards:
Credit Cards are small sized plastic cards similar to ATM and Debit Cards. Using credit cards you can make purchase of goods and services. You do not have to pay bills by cash or from your savings at the time of purchase. Using these cards you can purchase goods and services on credit. The money which you have to return at the end of every month. You can select to pay the full amount of credit that you have borrowed from your credit card issuer or a minimum fixed amount every month. In case you pay only the minimum amount, you will be charged an interest on your outstanding balance. There is a credit limit set for you by your credit card issuer.
According to facilities provided with credit card, there are many types of credit cards are available. Most of banks in India provide different types of credit cards.
The cards can be divided based on
- The rewards and benefits offered with credit card by issuer bank.
- Income and spend requirements of the applicants.
Customers can choose any credit card that fulfills the need of customer them avail a lot of benefits and is an ideal match for their needs.
For example – If you go for outing for dinner most a lot, then a card which cupo en dolares offers cash back on dinner can be best for you as it can help to save your money.
There are many payment networks which offer different types of credit cards by making collaboration with banks like – Visa, MasterCard, Maestro Card, American Express, Diner’s Club, etc.
Important Categories of Credit Cards:
- Travel Cards
- Titanium Credit Cards
- Silver Credit Cards
- Prepaid Credit Cards
- Premium/Signature Credit Cards
- Platinum Credit Cards
- Gold Credit Cards
- Women Credit cards
- Classic Credit Cards
- Cashback Credit Cards
- Business Credit Cards
- Fuel Credit Cards
- Rewards Cards
Travel Credit Cards:
Travel credit cards are offers unlimited travel benefits benefits in India as well as abroad. Banks have tied up with airline companies or travel companies to offer travel credit cards. Travel cards also provide travel insurance, hotel and holiday offers, dining offers etc.
Usage of this card provides access to airport lounges and to make travel transactions, they can earn air miles. The reward points earned on these cards can be converted to air miles, which can be used to book flight tickets and upgrade seats.