The type of credit card you get depend on your credit score. All the credit cards issued by all the credit card providers fall under the following categories. You will find one for you below whether you are looking for a credit card with good credit or credit card for no credit.
Standard Credit Cards
If you are new to the credit card world and don’t want to jump into the complex reward schemes, then standard credit cards are good for you. They are easy to understand and operate. They are also called ‘Plain Vanilla’ Credit Cards.
Rewards Credit Cards
As the name suggests, rewards credit cards allow you to earn a reward each time you make payment. The reward can be in the cashback form, points or travel discounts. People choose the reward type based on their requirement. People who frequently travel choose travel discounts. People who shop a lot through their credit card choose the cashback rewards and so on.
Balance Transfer Credit Cards
These credit cards offer you a low introductory rate on balance transfers for a specific period. You can save money on a high-interest rate balance on an existing card.
Secured Credit Cards
People who have no credit history have the option to avail the secured credit cards. In simpler words, these are credit cards for no credit. They require a security deposit to be submitted on the card. The credit limit of these cards is usually equal to the deposit made on the card. If you have no credit history, pick a secured card until you improve your score.
Subprime Credit Card
After considering credit cards for no credit, let’s take a look at the credit cards for bad credit. These cards have a high-interest rate and overall fee. But they are for the people who have bad credit and they have no credit card option for them. People even with fair credit score don’t even consider these cards. But, these are a life-savor for the people with bad credit history.
These were the major credit cards that are popular among the card users. Other types of cards include prepaid credit cards, limited purpose credit cards, business credit cards, charge cards, and student credit cards. Stay tuned with us to find out about other cards in detail.
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