There are several types of credit cards available, each with their own unique features and benefits. Here are some of the most common types of credit cards:
- Rewards Credit Cards: These cards offer rewards for purchases made with the card. Rewards can include cash back, points, or miles that can be redeemed for travel, merchandise, or other rewards.
- Travel Credit Cards: These cards are designed for frequent travelers and offer rewards such as airline miles, hotel points, and travel benefits like lounge access and travel insurance.
- Balance Transfer Credit Cards: These cards allow you to transfer high-interest credit card debt to a new card with a lower interest rate. Some cards offer 0% introductory APRs for a limited time.
- Cash Back Credit Cards: These cards offer cash back rewards on purchases made with the card, typically a percentage of the purchase price.
- Secured Credit Cards: These cards require a security deposit and are designed for people with limited or bad credit history.
- Student Credit Cards: These cards are designed for students and typically offer rewards and perks geared towards student needs and lifestyles.
- Business Credit Cards: These cards are designed for businesses and offer rewards and perks tailored to business needs such as expense tracking, employee cards, and business-specific rewards.