Different Types of Credit Cards

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Different Types of Credit Cards

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Credit cards come in different types, each designed to suit different spending habits and financial needs. Standard credit cards offer a line of credit with interest charges on outstanding balances, while reward cards offer cashback, points, or miles for purchases. Secured credit cards require a deposit to be made upfront, while prepaid cards are loaded with funds beforehand. Lastly, charge cards require the balance to be paid in full each month. It's important to understand the features and fees associated with each type of credit card before applying. Visit here for more information - – PowerPoint PPT presentation

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Title: Different Types of Credit Cards


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DIFFERENT TYPES OF CREDIT CARD
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WHAT IS CREDIT CARD?
Credit cards are available in various types to
cater to different needs. Some popular types
include rewards cards, balance transfer cards,
secured cards, and cashback cards. Rewards cards
offer points, miles, or cashback rewards for
purchases, while balance transfer cards help in
transferring high-interest debt to a card with
low or 0 interest. Secured cards are for
individuals with bad credit, while cashback cards
offer cashback on purchases made with the card.
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DIFFERENT TYPES OF CREDIT CARD
  • Standard credit cards
  • Rewards credit cards
  • Instant credit cards
  • Special credit cards
  • Co-Brand credit cards
  • Featured credit cards
  • EMI / Loan on credit cards

4
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ELIGIBILITY OF CREDIT CARD
To be eligible for a credit card, you must meet
certain criteria set by the issuer. These may
include a minimum age requirement, a minimum
income requirement, and a good credit score.
Typically, you must be at least 18 years old and
have a regular source of income. A good credit
score is also important, as it demonstrates your
ability to manage credit responsibly. If you have
a poor credit score, you may be limited to
secured credit cards or credit cards with higher
fees and interest rates.
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5
ADVANTAGES OF CREDIT CARD
  • Universal payment acceptance
  • Earn Reward Points or cashback for every retail
    spend
  • Enjoy credit-free payment days of a maximum of up
    to 48 days including the due-date
  • Fuel Surcharge waiver
  • Exciting discount offers on dine-out and movie
    tickets
  • VISA lounge access benefits
  • Build a credit history etc.

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THANK YOU
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