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Know about the different types of credit cards

Types of credit cards

Know about the different types of credit cards

Types of credit cards

Know the different types of credit cards available which cater to your needs. A guide to picking the right credit card for you.

Types of Credit Cards

Gone are the days when credit cards were viewed as an instrument for emergency fund requirements. In today’s digital age, with the help of a credit card, one can make easier, safer, and quicker transactions, whilst availing of attractive. . Today there is wide range of credit cards designed with the intention to cater to different types of customers and their preferences. Here are some of the various types of credit cards.

Standard Credit Cards

There are several types of credit cards that can address all your financial needs. One of the most common standard credit cards is the Rewards credit card.

Rewards credit cards – Like the name suggests, it can get you rewards upon purchases on your credit card. Some credit cards give discounts across a wide range of products and services, while others have special reward points for shopping at certain retailers. The user can accumulate these reward points and redeem them to purchase products and services across multiple online and offline stores. Some of the rewards credit cards offer bonuses to users for spending on specific categories. You can get the rewards in the form of gift certificates, or miles View the Standard Chartered Rewards credit cards to opt for a rewards option that suits your needs.

Apart from these standard credit cards, there are specialty credit cards, frequent flier credit cards, cards with specific reward programs and credit repair cards for the standard user etc. Each of these cards has a particular purpose, and they provide lucrative returns to the users, who know how to use them correctly.

Credit Cards with Reward Programs

  1. Cashback credit cards – as the name states, cashback credit cards offer the buyers cash rewards for purchases. You can use these cards for making online purchases or for Point of Sale (POS) purchases across numerous outlets to avail cashback. Opt for the Standard Chartered Super Value Titanium credit card or view other Standard Chartered credit cards that offer cashback.
  2. Rewards credit cards – The user accumulates reward points over the months of purchase, within a predetermined reward structure. The user can cash in these points during purchase of gift cards, electronics, plane tickets, jewellery and many others. The cardholder can also consider using these points to book hotel stays within the country or abroad, depending on the terms of the card. Get the Standard Chartered Platinum Rewards credit card or take your pick from the other cards here.
  3. Travel benefits credit cards – these cards are ideal for anyone who those who travels a lot. Hotel booking and ticket purchases can earn you of reward points. You could also get miles for spending on the card and avail of certain co-brand airline or hotel partner benefits. Travel the world with Emirates World credit cards!
  4. Retail reward credit cards – several credit cards are co-branded with some of the most popular online retailers in the country. The cards accumulate points with any purchase, but the cardholders get more points upon buying things from the co-branded retailers.
  5. Fuel cards – these credit cards can either be brand specific or general. Either way, they offer the user discounts upon the purchase of fuel. Many credit cards offer a cashback of up to 5% on purchase of fuel from the co-branded petrol pumps. The Standard Chartered Super Value Titanium credit card is one such card that give you cashback on fuel spends across all fuel stations in India.
  6. Airline miles cards – just like the gas cards, airline miles cards can be specific or generic. This specific type of a credit card gives the flier/user more points when they fly with a particular airline. The generic airline miles cards are ideal if you fly a lot, but are not a member of a frequent flier program. You can redeem your reward points from any airline that suits your needs of the moment.

Each one of the cards mentioned here has rewards programs in one form or another, but each of them has their specifications. So, before you get a credit card with a promising reward program, you should consider your lifestyle and daily necessities. Find a credit card that suits your lifestyle!

Credit cards can help your finances and credit records considerably, provided you know which ones to use. Choosing from several credit card options can be confusing. Simply explore the Standard Chartered list of credit cards that come with numerous benefits, as per your requirements!

Disclaimer

The views expressed in the article are those of Standard Chartered Bank (“SCB”) and do not constitute financial, professional or other advice. SCB, including its Directors, Officers or Employees shall not in any event be liable for any damages or injury arising merely from your reliance on any information provided here. Each bank / financial institution will have its own processes/ fees/ charges and any information contained in this Article is only indicative. Before placing any reliance on any information contained or views expressed in this Article, we would request you take all steps necessary to verify the correctness thereof. The information contained in this Article is only indicative. Each Standard Chartered Bank Product has its own terms & conditions and should be referred to in entirety. We request you to kindly visit “sc.com/in” or visit your nearest Standard Chartered Bank Branch or call on our Customer Care numbers for more details.