Society & Culture
Your Guide To Different Types Of Credit Cards
Credit Cards are small sized plastic cards that can make life very simple. These cards allow you to purchase goods and services on credit, the money for which you can return at the end of every month. You can choose to pay the full amount of credit that you have borrowed from your credit card issuer or a minimum fixed amount every month. In case you pay only the minimum amount, remember that you will be charged an interest on your outstanding balance. There is a credit limit set for you by your card provider.
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There are many banks in India that provide different types of credit cards. The cards are divided based on the rewards and benefits they offer and the income and spend requirements of the applicants. Customers can choose any credit card that helps them avail a lot of benefits and is an ideal match for their requirements. For example – If you travel a lot, then a travel card is best for you as it can help you earn air miles, access airport lounges, etc. In India, credit cards are offered in collaboration with the following payment networks - Visa, MasterCard, American Express, Diner’s Club, etc.
The Different Categories of Credit Cards are
Contactless Credit Cards
Credit cards for Women
Contactless Credit Cards
Contactless credit cards are equipped with a unique payment technology that allow cardholders to make payments by simply tapping their cards at POS terminals. These contactless transactions do not require the customers to enter any PIN number to make purchases and are extremely secure. These cards offer several benefits such as discounts, cash rewards, entertainment benefits, reward points, welcome gift, lounge access, concierge service, insurance policy, etc.
Credit cards for Women
To ensure their female customers get the maximum benefits, some banks have introduced credit cards that are exclusively designed for women. These Women credit cards mainly focus on shopping rewards and cashback offers. Apart from this, cardholders can get bonus reward points, fuel surcharge waiver, insurance, etc. They can also earn reward points when they make purchases using their credit cards. There are few credit cards for women that offer amazing travel benefits.
Some of the popular credit cards for women are:
HDFC Bank Solitaire - Premium Women's Credit Card
Kotak Mahindra Bank Silk Inspire Credit Card
Citibank Rewards Credit Card