Updated on: Feb 23rd, 2024
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6 min read
Credit cards’ growing popularity has led to disrupting the space of lending and credits. Many new cards enter the market frequently with a whole new range of features and benefits.
These features and benefits go a long way in categorising the cards into different types. Individuals choose a card based on these categories. There are basic cards that a beginner prefer and there are air miles cards that can get you free flights. Here is a list of types of credit cards based on various criteria:
The surge in credit card usage has led to the emergence of various types of credit cards tailored to different needs, from basic, secured, and no annual fee options to low-interest, balance transfer, rewards, and cashback cards. Travel, shopping, entertainment, air miles, lifestyle, premium, Co-branded, student, and business credit cards cater to specific interests. Prepaid cards require loading money before use.