The Many Kinds of Credit Cards Today

by : Ajeet Khurana

Getting a credit card is so easy these days. You get a form, fill it out, and if you fulfill the requirements, bang! You've got the card. But you need to be sure. Cards are not one size fits all. In fact, the plastic money seeker is spoilt for choice. Some are for specific groups of people and others are for those that want more than just your standard credit card.

Standard Cards

If you simply want a card for basic utility, the standard credit card is just the thing. These cards may simply be issued for you to use or you can actually transfer other balances to them. This is the most common type of credit card and many times these offer the best interest rates because they are the standard and don't offer any special features or options. Try and obtain a standard one if all you want is a little creditworthiness.

Cards with Bad Credit

There are many cards out there now that are specifically for those that have had past history. These cards are usually secured, have lower limits, and may have higher interest rates. If you have had some credit problems this is a great way to reestablish your borrower worthiness so you are able to get one of the other cards again some time in the future. Assuming that you are eager to rebuild your damaged scores, it does not get better than this.

Specialty Cards

The term "specialty credit cards" refer to those that are for a specific group of people. This broad type of card also includes things like the student card that is advanced to students. These cards are often nice for students because they have low interest rates and they may not need to be paid off immediately, which is appealing for students who are paying their way through school.

Among the wide range of specialty credit cards is the business card. Employees often issues credit cards through their business and these cards often have large limits and many other perks that come along with them. Each business card usually has different features. If you are a business person, you should go in for one of these.

Rewards Program

Last but not least, there are the rewards program cards. Have a good credit score? Well, this credit card could be just the thing for you. Each time the consumer uses their card they are awarded points or rewards for the use. The rewards may mean free gas money, free airline miles, free gifts, etc. These cards are really nice for those that use their cards often and will be able to take advantage of the rewards offered.

Final Thoughts

As you can see, there are many different types of cards for you to choose from. Before you sign any application you should be sure to read through the fine print to be sure that it is right for you. The credit card markets are filled with some great choices. Confusion is natural. Don't rush yourself and you should land up with a great deal.