Different Types Of Credit Cards

The world of credit cards is a competitive industry with one bank having multiple types of credit cards, each equipped with unique features and benefits.

While at the basic level all credit cards have credit limits, usage of which attracts interest. However, the additional features can be very useful, based on your types of usage.

Depending on the type of benefit, a wide variety of credit cards are available at present. These are some of the common types:

Reward credit card: These types of credit cards earn you great reward points for specific kinds of transactions. The reward points can be redeemed for discounts, vouchers, products or even cashback on your credit card.

Shopping credit card: As the name suggests, these credit cards are tailor-made for a shopper. They earn discounts on shopping transactions. The bank/NBFC ties up with retail outlets to provide you discount vouchers and cashback.

Travel credit card: Are you an avid traveller? Then a travel credit card is ideal for you. You can enjoy discounts on airline ticket bookings, bus and rail ticket booking and much more! You can also enjoy complimentary access to international and domestic airport lounges. You also get air miles and extra reward points on all kinds of travel spending.

Fuel credit card: These cards provide offers and waivers on fuel expenses such as waiving off the fuel surcharge or extra rewards on purchase of fuel. You can make substantial savings on your fuel spending throughout the year.

Let’s see some of the best credit card offerings available as on December 2020: