It doesn’t matter if this is the first time that you will be getting a credit card or you are already a seasoned cardholder because there are 15 types of credit cards that you can choose from today.

Credit Cards That Build Credit:

1. Joint Credit Cards

A joint credit card requires the application of the two parties who will be both responsible for the payment of the balance.

2. Starter Credit Cards

These cards are meant for people with little to no credit history and are a great choice if you don’t have any line of credit in the past.

3. Student Credit Cards

These cards work similarly to standard credit cards, the only difference of which is the fact that they have lower total credit limits.

Credit Cards That Help Save Money:

4. Balance Transfer Credit Cards

These cards have temporarily low introductory rates, particularly for balance transfers. It is a great choice for people who wish to save money on high-interest cards.

5. Business Credit Cards

Business owners might want to apply for credit cards specifically meant for business use that will let them separate their business and personal expenses.

6. No Annual Fee Credit Cards

There are still cards with no annual fee and most of them come with some good enough cash back programs. Check your card offer or terms and conditions to ensure that it has no annual fee.

7. Zero Percent Purchase APR Credit Cards

This type of credit card doesn’t oblige you to pay interest for your new purchases for a specific period of time, typically around 12 months.

Cards with Rewards and Cash Back:

8. Cash Back Credit Cards

These cards let you earn a specific percent that often ranges from 1% to 5% of your money back whenever you use the card to make a purchase.

9. Charge Cards

These cards work just like regular credit cards with one main caveat and that is you need to completely pay off your total balance every month. However, they usually offer sizable initial rewards and bonuses.

10. Hotel Credit Cards

These are cards affiliated with a particular hotel chain, offering rewards on the basis of points that are higher if you make direct eligible purchases with the hotel.

11. Retail Credit Cards

Specific businesses offer store or retail cards and you can only use them to make purchases with that particular store.

12. Airline Credit Cards

There are cards that give rewards on any purchase made with a certain airline and some let you earn rewards with travel-related expenses or any airline.

13. Gas Rewards Credit Cards

Gas rewards credit cards are different from gas station credit cards as these offer cashback every time you pay at the pump.

Cards for Those with Bad Credit:

14. Prepaid Cards

These are technically not credit cards since no money is borrowed here. Instead, cardholders load a certain monetary amount to the card, with purchases deducted from the balance of the card just like gift cards.

15. Secured Credit Cards

Secured credit cards require upfront payment that serves as collateral in case you fail to pay your balance.

We are hoping that you understand all about the 15 Types of Credit Cards.