Credit card types that consumers can choose from
Advertising Disclosure
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » Research » Guides » Cardholder Benefits » Credit card types that consumers can choose from

Credit card types that consumers can choose from

By
Add to Favorites:

Not all the credit cards are suitable for every person. Credit card lenders have come up with different cards for people with varying requirements. While students without any credit history can apply for student credit cards, those with very poor credit history can apply for secured credit cards. Before you apply for a particular credit card, having good knowledge of the various types is beneficial since you can choose the right one that suits your requirements to perfection.

The first type of credit cards is the standard credit cards that are commonly offered to people. These are unsecured credit cards offered by banks to customers based on their credit history. Customers with excellent, good and fair credit scores can easily get access to these cards, though the terms will vary greatly based on the credit score. People with poor credit history will have to choose from one of the other types of credit cards in the market.

Secured credit cards are credit cards that are offered to people with poor credit history. People who do not have a credit history, but want to apply for a credit card can apply for one of these cards since they are easy to obtain. Though you will have to pay up a certain amount of money as a security deposit with the bank to avail credit limit on the card, this card is a worthwhile option since it can help repair a bad credit history when used effectively.

Student credit cards are cards that are available exclusively to students. Though in the past credit card companies could give these cards to every student who applied for them, with the Credit Card Accountability, Responsibility and Disclosure Act coming into play, it has become tough for students below the age of 21 to apply and obtain these cards. As per the rules of the CARD Act, any student below the age of 21 should show proof of income to repay the dues on the card or get a parent to cosign on the application form.

The store cards and gas station cards are two other types of credit cards. The store cards can be used only in certain retail stores or chain of stores and may prove to be a restriction at times when shopping. The gas station cards are cards that can be used at gas stations to save fuel costs. Though these cards seem to be useful, there are unlike the cards offered by the banks and credit unions and cost more as well.

Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

5 Reasons to Get the Capital One Venture Miles Rewards Card

By Herbert Moore, Posted: January 18, 2017

If you’re looking for a great travel rewards credit card—one that offers unlimited earning opportunities, flexible redemption, and lots of perks—look no further. This card from Capital One has you covered. Continue reading

Credit Card Tips For Holiday Shopping 2016

By Herbert Moore, Posted: November 23, 2016

November and December are the busiest months as gift shopping reaches its peak. People rush around looking for the best gifts and the best deals leaving a lot of money in the shops. Holiday season may force you to go over the household ... Continue reading

Credit Cards to Save More on Holiday Shopping

By Herbert Moore, Posted: November 22, 2016

Discounts and special offers are available all year round. Werther you are a bargain hunter or an impulse buyer, make sure you check online discounts and special offers. Also, if you are a cardholder, see if your credit card opens the door ... Continue reading