The days when a credit card was a simple standard piece of plastic money are over! Nowadays there are several Credit Card types from which you can choose. Each of them has different conditions, so you should analyse them well before you elect the Credit Card type which is best for you.

Here is a brief description of the most common credit cards types.

Standard Credit Cards type are the most common in the market. They are readily available from most banks and financial groups, as they are unsecured. This does not mean they are not safe: this means that you do not have to provide a security deposit in advance to prove that the money that you use from the credit line can be repaid. The Standard Credit Card type can have several annual percentage rates. Here are two examples:

• Balance transfer credit cards
  This credit card type allows the consumers to transfer a high interest credit card balance onto a credit card with a low interest rate. Typical they have an annual percentage rate which can vary from 0% upwards. The terms of these credit cards type varies between different offers, so be sure to read carefully the terms and conditions for each card.
• Low interest credit cards
  This credit card type offer either a low introductory rate that jumps to a higher rate after a certain period, or a single low fixed-rate. They can be very useful when consumers need make a large purchase because this amount can be paid in several months to a year, with a very low or no rate. Becarefull to read the all the terms and conditions of this credit card type, because they usually have additional fees or accumulated interest.

Nowadays, many people have difficulties paying they’re credit. The good news is that if the credit score is less than satisfactory, it does not mean that you cannot qualify for a credit card. There are several credit card types available for people who have had bad credit in the past and for those who are currently trying to repair their credit:

• Secured credit cards
  With this credit card type it is needed a security deposit of a predetermined amount. This is used to secure the credit card. The security deposit generally needs to be equal or greater than the credit amount. This deposit can be cash or goods, such as a car, aboat, jewelry, stocks or anything else that has monetary value. Secured credit cards are for people with either no credit or poor credit who are trying to build or rebuild their credit history. .
• Prepaid credit cards
  This credit card type is not a credit card at all, but it is used and accepted like one. The advantages of prepaid cards is that there are no finance charges. With them you avoid debts because all purchases are paid for beforehand. With this credit card type you determine the credit line by transferring the amount of money you'd like to have available to spend with that card.
  Usually this credit card type does not have finance fees. However, other fees may apply, such as monthly fees, start-up fees, application fees, over-limit fees, ATM fees, reload fees, etc.

This credit card type is designed for consumers with unique needs for their credit use, such as business professionals and students:

• Business credit cards
  This credit card type is designed for business owners and executives and have the same features as general credit cards, such as low introductory rates, cash back programs or airline rewards. In addition, this credit card type comes with many benefits and perks exclusively for those in the business world.
  
  
• Student credit cards
  For college students who need a credit card but have no credit history, a special credit card type was designed. It applies for those enrolled in accredited four-year colleges and universities.
  Usually this credit card type does not have the same features as the traditional credit cards in terms of rewards, features and other benefits.

Reward Credit Cards type give incentives to the users when making purchases with their credit card. Points are accumulate for each purchase and the users can redeem these points for various rewards. Reward cards usually require better-than-average credit for approval. The seven major credit card types (excluding airline miles and frequent flier cards) are:

• Cash back credit cards
  This credit card type allows the user to earn cash rewards for making purchases. When you make a purchase, a percentage of the amount you spent is earned in your credit card, for spending later. The more the card is used, the more cash rewards the user earns. Note that some of these cards have an annual fee. This credit card type, if used appropriately, can allow the user to earn a significant amount of money over time.
• General reward points credit cards
  With this credit card type the cardholder can also accumulate points toward a reward structure, based on how much he spent with the card. With this credit card type you can change the earned points not only for cash, but also for a variety of items such as gift cards, electronics, hotel stays, tickets, jewellery, etc. Reward programs and promotional offers often change so read carefully the this credit card type terms and conditions before applying.
• Gas cards with points or rebates
  This credit card type can be general or brand-specific. General cards treat all gas companies equally, while brand-specific cards favour one gas company. They give you a percentage of cash back for general purchases, and rewards you with a higher percentage percent for buying gas or having auto maintenance done at any company. If you tend to be loyal to a certain gas company, a brand-specific card may benefit you, but if you tend to just stop at whichever station is closest, you may be best with a general gas rebate card.
• Hotel or travel points credit cards
  This credit card type is specific for hotels and travel. Some of them are co-branded with hotels. This credit card type allows the user to accumulate points for all purchases, and gives bonus points for money spent on stays at the respective hotel chain. The points can be redeemed for free nights and upgrades at the hotel chain.
  Then there are broader hotel and travel cards, which points can be redeemed for travel, theme park admission, stays at major hotel chains and more. Many of these cards have annual fees. If you are not a frequent traveller, the annual fee may increase, and negate the benefit of the earned rewards.
• Automobile manufacturer rewards cards
  With this credit card type you earn points that can be redeemed toward the purchase of another car or auto-related expenses.
• Retail rewards credit cards
  This credit card type is co-branded with a major retailers. Points are also accumulated by making everyday purchases, but the users are awarded with double or triple points for making purchases from the co-branded retailer. The points earned with this credit card type must usually be redeemed for products or services from that specific retailer.
• Home improvement rewards credit cards
  This credit card type allows you to earn reward points for all purchases, while earning extra points for home-related expenditures. Points can be redeemed for cash back, travel, gift cards, etc.

While certain general reward credit cards types allow points to be redeemed for plane tickets among other things, there is a subset of reward cards specifically for air travel. This credit card type allows the consumers to earn airline mile credits whenever they make purchases. These cards can be co-branded with a specific airline or generic, which points can be redeemed for tickets with a variety of airlines.

• Airline-specific credit cards
  This credit card type is co-branded with a specific airline. The cardholder accumulates points from both making purchases with the card and by flying on the specified airline.
• Generic airline miles cards
  This credit card type is generic, and allows you to redeem your reward earned points for air travel through any airline, travel agent or online travel site. This credit card type is a great option if you aren't involved in a frequent flier program nor loyal to any particular airline, because it gives you the flexibility to redeem your miles for whichever airline best suits your needs at the present. With this credit card type youhave the advantage of gaining points for every dollar spent on the card, but because it is not associated with a particular airline. However, you can't gain additional points by flying.

Note that the points accumulated with this credit card type, which are usually miles, can expire, which means that you have a limited period to spend them. Also pay attention because they can come with an annual fee.