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Home CURRENT AFFAIRS BUSINESS Type of Credit cards: Standard Credit Cards to Travel Credit Cards, checkout...

Type of Credit cards: Standard Credit Cards to Travel Credit Cards, checkout the list in India

Credit cards are offered by banks for a variety of purposes, including travel and business. Let's examine each of these top 5 credit cards available in India.

Top 5 Credit cards in India

Type of Credit cards: For many people credit cards are becoming very much important because they can use it for paying their bills when they do not have cash with them. Many people also use credit cards to increase their credit score. You can establish a credit line by using credit cards. Because it enables banks to view your current credit history based on your credit card usage and repayments, this is highly essential. Banks provide credit cards for many different uses such as for business, travel, etc. Let’s have a look on all these top 5 Credit cards in India.

Type of Credit cards: Co-branded credit card

These credit card kinds are offered in association with particular names or businesses. They provide as a means for brands to honour devoted customers by giving them incentives and deals associated with those brands. Customers who use these cards can occasionally receive access to special events and brand-exclusive bargains as part of their benefits.

Business credit cards

Businesses and entrepreneurs are the target market for these cards. In accordance with company policies, they offer special advantages including credit limits, prizes intended for business costs, and expense tracking. Along with business-related perks like cash advance capabilities, hotel and travel privileges, insurance coverage, etc., these cards also provide an extended interest-free credit period.

Fuel credit card

At certain petrol stations, fuel credit cards provide cashback, points and discounts on fuel purchases. For customers who spend a lot of money on fuel, these cards are ideal. You can buy fuel with the reward points you earn in this category as well.

Student credit cards

Usually with lower credit limits, these cards are intended for students who want to go to college. These cards assist young individuals in establishing a credit history in addition to providing them with credit. The discounts and incentives offered on petrol purchases, book purchases, etc., are equally advantageous to students.

Standard credit card

This is the most fundamental kind of credit card that is now offered to customers. It’s an easy method to handle everyday spending and get credit. These cards are solely intended for normal credit use, though, and don’t come with any special features or benefits.

Types of Credit cards: Travel Credit card

The target audience for these cards is frequent travellers. Customers who enjoy travelling and wish to do so as cheaply as possible can use travel credit cards, which offer rewards on all purchases made with the card for travel-related expenses. In exchange, credit cards give their holders access to lounges, hotel discounts, air miles, and other travel-related incentives.

Premium credit card

Customers who use premium credit cards are supposed to enjoy opulent and unique benefits. These cards offer perks like luxury airport lounge access and concierge services, among other conveniences, but usually come with a higher annual fee. Typically, clients with better credit scores and higher income levels are the ones that receive them.

Cashback credit card

By receiving cashback on a portion of their purchases, these credit cards let users profit from their spending. Customers who would rather receive immediate savings on their purchases should use these cards. Depending on the card issuer and the kind of purchase made, different amounts of cashback are earned on each transaction.

Reward credit card

Among the most widely used credit cards on the market right now is this one. Every purchase made with a reward credit card earns reward points. After that, you can exchange these points for items, money, gifts, or vouchers.

Secured credit card

People with a short or bad credit history might apply for secured credit cards. with order to guarantee responsible usage and assist with credit restoration, these cards are provided subject to a security deposit.

Also Read: OPPO F21s Pro VS OPPO F21 PRO: Specifications, features and price compared to facilitate decision making

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