About credit card types Various types of Credit cards available to you.


When you think about credit card types a lots of different varieties of credit cards will most definitely pop into your minds.

And this is fair enough considering the pains that credit card providers take to intimate you about credit card business and its latest offerings.

For most Americans whether or not they own numerous credit cards or whether they have not even thought about owning one are daily receiving mails and media information about credit card ads.

If you would need to select the right kind of credit card for yourself it is imperative that you know about credit card types in the business and which best fits your needs.

    1. Balance Transfer credit Cards

These are probably the most commonly sought after credit card type. When you talk about credit card there is no way you cam leave outstanding balance.

balance transfer credit card is a credit card which permits transfer of an outstanding balance into it.

In most cases the balance transfer credit cards will charge the user lower rates of interest making it easier to pay off the accrued outstanding balance.

    1. 0 APR Credit Cards

This credit card type is common to most type of credit cards. In fact you would find 0 APR credit cards in the balance transfer credit card, rewards credit cards or gas credit cards.

A 0 apr credit card as the name indicates is a credit card for which you would need to pay 0 interest rates.

But don’t be mistaken that this is forever. Most 0 APR credit cards come in tandem with an offer or introductory period which is the time frame for which the 0 rates apply.

Beyond this time frame the normal interest rates would be applicable for such cards.

    1. Reward Credit Cards

These are credit cards for which points gained from purchases can be redeemed to secure perks.

The perks could be in the form of air travel miles, hotel or resort stays or free meals at boutique class restaurants.

There are also rewards that can be redeemed as vouchers for free gas or groceries as well as cash back rewards credit cards which in turn will give you whopping discounts on various categories of purchases.

    1. Secured Credit Cards

Most of the credit cards mentioned above are non-secured credit cards.

Secured credit cards are cards for which you need to secure the credit card against a certain sum of money.

This money that you deposit will not be used against your purchases and will lay untouched if you pay your dues on time.