Most Popular Credit Cards

Many people own a credit card, or perhaps even more than one. Not many, however, know that there are several different types of credit card, or that one type could easily work better for them than the others. But what are the different types of cards, and how do you know which kind is best for you?



Starting with the most common credit card, the standard credit card - the one you usually get when first signing up for one - is the one most people are familiar with. This card gives you a particular credit limit, which you can spend up to but not over providing that you make full or incremental payments by certain due dates so as to not incur late payment fees. This type of credit card is perfect for everyday credit spenders as well as those who prefer to use their card only every now and then.



Moving up the scale we have premium credit cards. These cards are not available to everyone and usually require the applicant to have a particular credit score and income. Premium credit cards, examples of which include Gold and Platinum versions of cards, have many benefits to using them, such as cash back, travel upgrades and reward points that can be collected.

For premium credit cards and standard credit cards, there is also a subset of credit cards that fall under both categories. These are cards such as student cards, travel cards and zero per cent interest cards, all of which can benefit the user in different ways.



Other types of cards include charge cards, which do not have a credit limit but with which the balance must be paid in full at the end of every month - meaning this is a card only for a careful person or one who can afford to own it; limited purpose cards, which can only be used in specific locations - like the credit cards offered by shops and stores; pre-paid cards, which can be topped up with credit before use (ideal for users that cannot be trusted!) and secured credit cards, which are credit cards offered to those with poor credit records or who haven't started one yet.



There are many credit cards to choose from, which is why it's important to take the time beforehand to consider your decision wisely. But once you've selected the perfect credit card for your needs, you can look forward to enjoying a comfortable and responsible financial future.