NEWS & ADVICE : CREDIT CARDS
Rupeetimes guide to different types of credit cards
By Ankit Sharma
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Reward Cards

There are credit cards which offer rewards for specific kinds of purchases. For example the Airline Reward Credit Cards offer rewards on air travel, Cashback Credit Cards offer cash rewards on every credit card purchases, Fuel Reward Credit Cards offer rebates on petroleum and other fuel purchases from specified outlets and preferred partners. Similarly Hotel Reward Credit Cards give rebates on hotel stay and related expenses and Health Rewards Credit Cards give benefits on medical expenses, health treatments and related activities. The rewards offered by credit card companies in alliance with various brands and stores, make them more attractive for the credit card holders.

Business Credit Cards

These credit cards are issued to businessmen or corporate users which helps them in their business related activities and separates their business and personal expenses. For example the HDFC Bank Corporate Card comes with a unique 24x7 MIS availability online. The business credit cards are also a great way to promote your business. The ICICI Bank Business Credit Card has an option for embossing of company name on the credit card.

Student Credit Cards

As the name implies these credit cards are especially designed for students and help them start their credit card journey. These credit cards bring lots of rewards especially suited for students, which help them save time, money and enjoy their student life. Student credit cards are a first step towards building credit history. A good credit history goes a long way in creating a relationship with banks helping you secure much needed loans and credit in the future.

Special Feature Credit Cards

Credit cards can also be grouped on the basis of their features. For example based on their Introductory interest rates, credit cards can be Low Introductory interest credit cards, or 0 (zero) Intro Interest credit cards. The 0 Intro Interest credit cards provide interest free credit (0%) for a specified time period, which is called the introductory period. Similar is the case with credit cards that come without any annual fee what so ever and are called No Annual Fee credit cards.

Balance Transfer Credit Cards

Credit card companies provide lucrative offers with 0% introductory interest or Low introductory interest charges on balance transfers. This allows credit card holders to transfer the outstanding balances on their existing credit cards to a credit card with low or 0 interest on balance transfers. This brings them a lot of savings in the interest rates. The balance transfer credit cards may charge a balance transfer fees for every such operation.

Affinity Credit cards

This is a special type of credit card which has a special tie-up or relation with an organization, store, institution or company. This credit card carries the logo of the affiliated organization on the card design and brings special benefits and discounts on products from that company. In case the affiliated company is a charity or non-profit organization, a part of the credit card expenses go into the affiliate organization's account.


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