If you are looking for a new credit card, you must have come across a sea of options. Choosing one from such a wide gamut can be confusing. This is why it is important to categorize credit cards based on different parameters. Banks and NBFCs in India offer credit cards to suit different needs of its users. At the same time, they also offer regular credit cards with simple features and low annual fees.
To help you choose a card easily, below we have classified credit cards into 10 broad categories.
TYPES OF CREDIT CARDS
|Credit Cards for First-time Users||These cards come with regular features with no added perks and usually charge a low annual fee|
|Credit Cards for Low-Income Earners||These credit cards charge low or no annual fee and offer benefits that complement the budget of the users|
|Travel Credit Cards||Travel cards offer extra benefits on travel such as lounge access, extra rewards on travel, co-branded privileges and more|
|Shopping Credit Cards||These cards are designed to give the most value back to the shopaholics. Rewards/cashback on online and offline shopping are its prime features.|
|Airline Credit Cards||Mainly launched in collaboration with an airline brand, these cards let you save more on air travel|
|Rewards Credit Cards||These cards offer generous rewards across all categories along with accelerated rewards on certain expenses.|
|Cashback Credit Cards||In place of rewards, these credit cards offer direct cashback into the statement.|
|Fuel Credit Cards||Best suited for your fuel needs, these cards help you save in the form of discounts, extra rewards and fuel surcharge waiver|
|Entertainment Credit Cards||These cards are designed around entertainment benefits and give discount on movie tickets, BOGO deals and more|
|Secured Credit Cards||Offered against fixed deposits, these cards are good for those who face difficulty in getting approved for a regular card.|