10 most popular types of credit cards that you should know

Credit cards today are fast becoming the most effective means of financial transactions. The advantages of convenience and time savings along with the security and reliability that make them offer the popular choice. The vast network of shops, malls and retail stores use to promote a very large population. As a foundation for consumer credit cards is growing rapidly, more and more people are getting overwhelmed by the diversity of offerings. This article examines the popular credit card in use in marketing and their characteristics.

Balance transfer credit cards

Allowing customers to transfer a greater balance between the interest on a credit card credit card with an interest rate lower rate.The card balance transfer credit vary greatly depending on the issuing of credit cards offer. You better know these terms before deciding on a credit card balance transfer.

Low interest credit cards

These cards offer a low introductory or April. It can change at a faster rate after some time. The exact details are stated in the credit card. People generally take advantage of low introductory April and make large purchases.

Reward Cards

These cards usually give incentives or customer discounts and cashback for the amount they spend on their credit cards. There are various types of reward cards. Some of the most popular are:

Airline reward cards

These give incentives towards the purchase of air travel, frequent flyer airline miles or credits. Incentives can be based on points or cash on the basis that can be converted into further or air travel, as provided in offering credit card. The exact details about the offer can be obtained from the terms and conditions of the corresponding credit card.

Cash Back Credit Cards

You can get cash rewards for using these credit cards. The rates at which companies give cashback vary. This is a very good card for those who follow their repayment plan religiously. If used correctly can return a significant amout of money to the customer.

Gas rewards credit cards

It is about giving incentives to purchase fuel for cars and other vehicles. Incentives can be based cashbased or points that can be redeemed against a credit card as described in the offer.

Bad credit credit cards repair

These are designed specifically for people with bad credit. Interest rates for these cards are high, but there are few other options open to those with poor credit. Following the repayment schedule will help the customer to revive its ratings.

Secured credit cards

These credit cards require collateral for approval. Available for people with poor credit these cards offer the opportunity to rebuild credit history. The collteral can be anything ranging from property, jewelry, cars, or anything else of value acceptable to the credit card issuer. These cards come with additional costs and repayment options severe.

Prepaid credit cards or stored value

The total amount stored in the credit card must be paid in advance to the credit card company. These cards are also known as debit cards. These types of credit cards there are no borrowing costs and help avoid credit card debt because you can only spend what they have youu. These cards are a tool of the budget purfect.

Business credit cards

These credit cards are tailored to business needs. Coming up with special business incentives as higher credit limits, special awards, business, and additional cards for employees that help streamline business processes. The offer and promotion varies with each credit card issuer.

Student credit cards

These credit cards are usually the first step toward building a credit history. Tailored to the needs of students in general these cards do not require cerdit history. Helpin students with finance much-needed, these cards have a low interest rate and easy repayment options.

It is strongly recommended that a customer should first discuss their needs with a financial advisor and carefully examine all the terms and conditions before getting any credit. or matter which type of credit card you choose, be sure to discuss your specific financial needs with your financial advisor or accountant before applying for any credit card .......