A credit card is a bank plastic for cashless payment or for cash withdrawal at ATMs. This is a plastic with the credit limit allocated to you and you have to pay off plus interest. In order to figure out what credit card is the best for you, let’s observe the types of credit cards and their features.
Types of Credit Card
Obviously, there is not just one single type of credit cards on the market. There are many of them and they differ in their features:
By international payment systems
Globally, two giants of card payment systems are generally recognized:
By category of funds
- Regular credit card;
- Mixed card.
Any bank plastic is sometimes called a credit card. However, to put it mildly, this is not correct. Don’t confuse credit card with debit one. A debit card is simply a bank plastic, where you replenish your funds and then pay with it or withdraw the necessary amounts in ATMs. With a debit card you cannot lend money from the bank, but with a credit card you can use extra means within the limit set by you bank.
Now there are also mixed cards with the possibility of replenishment with personal funds. This is convenient when you, for example, have a dinner abroad and do not know how much you should pay. You replenish this plastic with your own funds, but if they suddenly end up, you have the opportunity to get a credit on this plastic. Such an option is more advantageous for clients with a stable income.
Types of credit cards on the resumption of available funds
Here, credit cards are divided into:
- revolving plastics;
- non-revolving plastics.
The first type means that this is a plastic with revolving credit, and you may use credit money every month.
There are also different types of loyalty between the client and the bank supported by the card status:
- Standard card. Loans on this type have a standard set of functions. Such “plastics” is convenient for payments in supermarkets, shops, for paying services through terminals and ATMs and via Internet.
- Golden card. This is a VIP plastic which envisages some extra functions, for example, taxi discounts information support. The holder of the golden credit card receives additional benefits in service, special offers and bonuses.
- Platinum card. This is the most privileged credit card, highlighting the VIP or celebrity status of the owner and rendering additional opportunities in terms of service, support and bonus programs..
- Brand card. Such plastic allows you to use a variety of discounts and bonuses, participate in promotions held by companies, which are in partnership with the bank. With the branding credit cards you can accumulate scores that are used later to pay for purchases.
In addition, credit cards may vary by the type of the credit limit. For example, standard plastic isn’t subject to change, since personal limit and terms tailored exclusively for a certain individual.
So having so thorough and complete info, you can choose a credit card in full accordance with you own needs.