What are the different types of Credit Cards?

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What Are The Different Types Of Credit Cards?
A credit card is an instrument to help you make
instant credit based transactions. Unlike debit
cards which are linked to your bank accounts and
debit the corresponding amount for every
transaction, credit cards offer you the
flexibility to make transactions on credit
independent of your account balance.
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Different Credit Cards Types
Rewards credit cards Travel credit cards Fuel
Credit Cards Balance transfer credit cards
Secured credit cards Cash back credit
cards Lifetime free Credit Cards Low-Interest
Credit Cards
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Rewards Credit Card
Rewards credit cards typically give you points
or cash back based on a percentage of your
spending and some even offer bonus points in
popular categories like groceries, gas, and
dining out. Rewards credit cards also tend to
offer at least a few different ways to redeem
your points, often including options for
statement credits, gift cards or
merchandise. This makes them a great credit card
option for everyday expenses when you know you
can pay off your card right away.
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Travel Credit Cards
Travel credit cards offer you the opportunity to
earn rewards that are geared specifically toward
travel. whether that means earning flexible
travel credits you can use toward any travel
purchase or even points you can transfer to
airline or hotel programs. Some travel credit
cards also let you earn points within a specific
program, such as a frequent flyer program or
hotel loyalty program. If you often travel for
business or pleasure, you can also keep your eye
out for luxury travel credit cards that offer
perks like airport lounge access, annual travel
credits and credits for Global Entry or TSA
PreCheck.
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Fuel Credit Cards

• Fuel Credit Cards, Many top banks and lenders in
  the country are offering fuel credit cards which
  help you save more on all your fuel purchases.
• The annual fee of these credit cards ranges from
  zero to Rs. 1,000 along with an interest rate
  ranging from 3.25 per month to 3.40 per month.
• A general rewards card that offers cash back on
  gas is often a better dealthough could be
  harder to get, depending on your credit
  historythan an oil-company card

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Balance Transfer Credit Cards
If you have some high-interest credit card debt
on your hands, you may be considering using a
balance transfer credit cards to help manage and
pay down that debt. The best balance transfer
cards let you secure an introductory 0 percent
APR for a period typically between 15 and 21
months, which can give you a nice break from
paying interest charges while you focus on
paying down your debt. Most cards require you to
pay an upfront balance transfer fee of 3 percent
or 5 percent, although there are some credit
cards with no balance transfer fee.
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Secured Credit Cards
Most credit cards are unsecured, meaning you
dont have to put down any collateral. With s
ecured credit cards, on the other hand, youre
required to put down a cash deposit in order to
secure a small line of credit, usually for a
similar amount. When a credit card is secured,
it means money must be deposited with the credit
card issuer in order to open an account. That
money is known as a security deposit. And it's
held by the credit card issuer while the account
is open, similar to the security deposit given
to a landlord to rent an apartment.
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Cashback Credit Cards
Cashback credit cards make it easy for you to
earn cash back or statement credits on your
spending, although how rewards are Roled out
varies from card to card. Some options in this
niche offer a flat rate of rewards while others
offer bonus points in certain categories like
dining or travel. Some even offer bonus rewards
in categories that change each quarter, as well
as a flat rate of rewards on all non-bonus
purchases. Many cashback credit cards come with
no annual fee as well, although some with more
generous bonus offers and rewards schemes charge
annual fees on the modest side, usually under
100.
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Lifetime Free Credit Cards
Are Credit Cards free? If you are a
credit-worthy customer, the bank may offer you a
lifetime free Credit Cards, which means no
joining or annual fees. Annual fees Technically
most Credit Cards charge an annual fee. If you
are a credit-worthy customer, the bank may offer
you a lifetime free Credit Card, which means no
joining or annual fees. Credit cards are offered
with fee waivers as per the ongoing offers by the
Bank. An SMS with the annual fee joining fee
details is sent to you once the Credit Card
application is approved.
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Low Interest Credit Cards
A low-interest credit card could help save you
money on monthly payments. A low-interest credit
cards is generally a good fit for someone who
carries a balance from month to month. Some
low-interest credit cards come with a 0
introductory rate while others have a low,
ongoing rate. Having a credit card with a
low-interest rate can be beneficial for those
looking to buy some expensive items through the
use of credit cards. Usually, interest rates in
the range of 1.5 to 2.99 per month are
considered as low when it comes to credit cards.
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Know More About Credit Cards
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