Types of Credit Card

Credit Card companies are forever trying new ways to engage with customers and so there are a massive variety of cards to suit every person. Gone have the days where you ran up a credit card balance and then paid off the month later.

From offers for new customers to extended credit terms for existing customers there are ways in which you can save money by using a credit card in a sensible and responsible way.

The types of Credit Cards:

– Balance Transfer Cards – When you transfer balances on credit cards from one provider to another some cards allow cheaper balance transfers than others. Ideal if existing offers on credit are about to expire.

– Credit Builder Cards – If you have no credit history or want to build up a credit history there are a choice of credit builder cards. Other cards are available for Bad Credit customers.

– Cashback Cards – Some card providers offer cashback for purchases made using the particular credit card.

– Airmiles Cards – Although now not called airmiles some card companies offer customers airmiles per pound that is spend on anything with an airmiles credit card.

– Combination Cards – More and more companies are combining more than one advantage such as rewards and cashback. These deals are normally exclusive to bank customers.

– 0% on Purchases Cards – Credit cards that offer no or little interest on purchases made on the card for a set period. After this time interest will be applied to payments made.

– Low Standard Rate Cards – Some cards opt for a lower rate of interest on any spending that is done on them. These cards have less “perks” but may be the better option for some users.