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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.