Ten Types of Credit Cards 2019
Do you know the ‘top ten types of credit cards 2019’You must have been hearing of credit cards before, well those credit cards are grouped into different categories. These categories define the function of the cards. You may need a credit card, but in the bid to get one, you have to decide which category of card you need. Each credit card varies in benefits and features. Here is a list of ten categories of credit card you should know.
- Standard credit cards.
- Balance transfer credit cards.
- Rewards credit cards.
- Student credit cards.
- Charge credit cards.
- Secured credit cards.
- Subprime credit cards.
- Prepaid credit cards.
- Limited purpose credit cards.
- Business credit cards.
Standard Credit Cards – Ten Types of Credit Cards 2019
Standard credit cards are often referred to as plain villa credit cards. How these card works is very easy to understand. The main catch in this card is that they do not offer users any rewards or frills. This card might be the right choice for you when looking for a card that isn’t complicated. All standard credit cards allow the users to have a revolving balance to a certain credit limit. Your credit is exhausted whenever you make purchases and more credit is loaded when you pay. There is more to this category of card tan I can say here. To get the full details you can search google or this same web page.
Balance Transfer Credit Cards – Ten Types of Credit Cards 2019
Every credit card has the ability to transfer balance, but these categories of credit card can transfer balance at a very low introductory rate. This could as well be the lowest rate of balance transfer. Balance transfer is a good way to save money on high interest rate credit cards. The balance transfer rate varies, with each card. Some can even be as low as zero percent.
Rewards Credit Cards – Ten Types of Credit Cards 2019
How this card works can easily be guessed from the name of the card category. As indicated by the name, rewards credit cards are cards that offer their customers certain rewards. These rewards are grouped into three different types; these are cash back rewards, point’s rewards and travel rewards.
Student Credit Cards – Ten Types of Credit Cards 2019
Student credit cards are cards that are designed to basically help the students with credit. As you know, credit cards are another way of obtaining loans. Student credit cards also come with various rewards. But this does not mean that all comes with rewards.
Charge Credit Cards – Ten Types of Credit Cards 2019
The charge credit cards is a special category of cards, these cards always have a preset sending limit and the balance spent must be paid in total at the end of each month. All late payments attract a fee.
Secured Credit Cards – Ten Types of Credit Cards 2019
The secured credit cards are cards that need collateral before you can own tis card. This is a form of secured loan. This type of credit cards often charges high costs for maintenance security.one benefit od this card is that it is always secured.
Subprime Credit Cards – Ten Types of Credit Cards 2019
Subprime credit cards are cards that can easily be given if you have a bad credit history, or a low deposit, or no credit check. Many of these cards often come with heavy rewards. They include cards like the discover it secured credit card.
Prepaid Credit Cards – Ten Types of Credit Cards 2019
I am very well sure you know what a prepaid card is. a prepaid credit card is a card that requires you to deposit funds before you can use the card for business transactions.
Limited Purpose Credit Cards – Ten Types of Credit Cards 2019
Limited purpose credit cards are cards that are designed to be used in stores or supermarkets. These types of credit cards can only be used at some specific locations.
Business Credit Cards – Ten Types of Credit Cards 2019
Like the name implies, the business credit cards are categories of cards that favors business owners. This card is designed to help small and large businesses respectively.