Credit cards have proven to be nifty tools that extend lines of credit to card holders so that they can make several purchases and pay back later. This is especially useful if one is on a tight budget but needs to make short-term purchases. Presently there exist a wide range of credit cards in the market that cater to different consumer needs. Varieties include reward cards, fuel-oriented credit cards, co-branded credit cards and credit cards that offer cash back.

Features and Benefits of Credit Cards

Listed below are some of the more prominent features and benefits associated with owning a credit card:

  • Welcome Gift – Several card providers and banks offer welcome gifts to new credit card applicants at the time they are issued with a credit card. These gifts may be in the form of reward points and discounts.

  • Rewards Program – Most credit cards are tethered to a reward program that enables cardholders to earn reward points on each transaction they make.

  • Fuel Surcharge Waiver – Cardholders can generally avail of a fuel surcharge waiver when they spend a certain amount of money on fuel each month.

  • Cashback Benefits – Several credit card providers offer cashback benefits to their patrons.

  • Lifestyle Benefits – Several lifestyle benefits ranging from dining to shopping are available to cardholders.

  • Travel Benefits – Air miles, lounge access in airports and travel insurance are some of the many travel benefits available to credit card cardholders.

Presently almost all leading banks offer credit cards to their patrons. To learn more about popular credit cards in the market today visit Finserv MARKETS.

Popular Types of Credit Cards

Listed below are some popular credit card types in the market today.

  • Fuel Credit Cards – These credit cards minimize your transportation costs in their entirety. Fuel expenses charged to such credit cards earn reward points. The basic premise that prevails is that considerable savings can be made on fuel with such credit cards.

  • Virtual Credit Cards – Having only an online presence, these cards are designed for online transactions. These cards have a card number, CVV and dates of validity the same way other credit cards do.

  • Business Credit Cards – Should you require a separate business account, business credit cards come in handy. This is because they help track expenses associated with a business and keep them apart from personal expenses.

  • Shopping Credit Cards – These credit cards entitle you to discounts at partnered stores online as well as offline. Cashback and discount vouchers along with additional benefits are available to you throughout the year.

  • Secured Credit Cards – These cards are availed against fixed deposits that have attractive interest rates. Cardholders can improve their credit scores with such credit cards.

  • Reward Credit Cards – Extensive reward points are available to credit card cardholders that make certain purchases and transactions with these cards. Additional points are redeemable for discounts on purchases made in the future. Furthermore, these points can be earned such that your monthly credit card bill reduces in value.

Conclusion

Finserv MARKETS lists several leading credit cards available in the country today. Visit the website to learn more about the best fuel credit cards, rewards credit cards, business credit cards and the like.

References

https://www.bajajfinserv.in/types-of-credit-card

https://www.bankbazaar.com/credit-card/different-types-of-credit-cards-in-india.html