Looking for the types of most common credit cards are there for you to choose from? Each persons financial needs are different, Before you apply for a credit card, it is a good idea to have an understanding with the various kinds of credit cards.
Cash Back Credit Cards
This is the popular credit card. Cash Back Credit Cards will pay you a percentage of your spending back in cash on your everyday purchases. More you spend on your credit card, more you you will earn back. This type of cars are beneficial to consumers who pay their credit card statement off every month
Reward Credit Cards
Reward Credit Cards are similar to the Cash Back Credit Cards, but you will earn points instead of cash. You can redeem your points in many ways, including hotel stay, air travel, car rentals, cash back, gift cards, gift certificates, brand-name merchandise, and much more.
Airline Miles/Frequent Flyer Credit Cards
Airline Miles Credit Cards will accrue rewards miles, that can be redeemed for frequent flyer miles or other travel rewards. Some of these reward cards offer you a companion flight discount code for your spouse or a family member. Apart from airline tickets, miles can be reedemed for for hotel rooms, car rentals and more. This card allows you to build your frequent flyer miles easily.
Gas Station Credit Cards
Gas station credit will offer you rebates on gas purchases.
Balance Transfer Credit Cards
These credit card allows you to consolidate credit card debt into one. Among credit card offers are no-fee balance transfer credit cards and 0% interest on balance transfers for six to 12 months. That is the credit card company is lending you its money for free.
Business Credit Cards
Small business cards will have features like competitive rates and valuable cash back, points and travel rewards. You can earn cash back or rewards points on all your business purchases.
Student Credit Cards
Student credit cards are designed for college student and university students. It will eliminate the need to run to the ATM machine for shopping or whatever the need is. For the college student, it’s a very viable choice.
Secured credit cards
Secured credit cards are designed for the people who has less than perfect credit history who want to improvement credit history. It is excellent for credit building, People with poor credit or no credit at all can get a secured card to imporve it.
Prepaid Credit Cards
It’s like a ATM/debit card, it is a re-loadable card parents give to teens, give as a gift and much more, without the headaches associated with credit cards. These cards allows the cardholders to control their expenses because it has pre fixed spending limit.