What are the types of credit cards?

2 min read

From credit cards for travel to shopping, there are many cards available today to fit the customer’s needs. Secured credit card, credit card for rewards, fuel credit cards, co-branded credit card and cash back credit card are just a few types of credit cards that are available today.

Different categories of credit cards in India

  • Travel credit card
    Travel credit cards let you avail discounts on all airline ticket bookings, bus and rail ticket bookings, cab bookings, and more. Reward points are earned on every purchase. You can redeem reward points on future travel bookings. Make the most of complimentary access to VIP airport lounges, book tickets at discounted rates, and more with travel credit cards.

  • Fuel credit card
    Save throughout the year on fuel spends by reducing your total transportation costs with a fuel credit card and avail fuel surcharge waivers.

  • Reward credit card
    This credit card comes with accelerated reward points on specific purchases and transactions. Bonus points earned can be redeemed for discounts on future purchases or to reduce your monthly credit card bills.

  • Shopping credit card
    Shop at our online or offline partner stores to get discounts on purchases or transactions with shopping credit cards. Avail cashbacks, discount vouchers and more throughout the year.

  • Secured credit card
    With proper usage, credit card holders can improve their credit scores. A secured credit card against fixed deposit is one such credit card that gives attractive interest rates.

  • Contactless Credit Cards
    Contactless credit cards are quickly gaining popularity among users as a convenient and safer payment option. With contactless payment, there is no need to swipe or insert your card into a machine. Instead, you simply tap your card on a contactless-enabled payment terminal, and that's it. This technology uses radio frequency identification (RFID) technology to quickly transmit the payment information between your card and the terminal. It's fast, easy, and secure, making contactless credit cards a go-to option for many people.

  • Cashback Credit Cards
    Cashback credit cards are becoming increasingly popular among credit card users. With these types of cards, you can earn a percentage of your purchases back in cash. That means for every dollar you spend; you'll get a certain amount of money back. This can add up over time, especially for those who use their cards frequently. Cashback cards can also come with additional perks, such as no annual fees or travel rewards. So, if you're looking for a credit card that can help you save money in the long run, consider getting a cashback credit card that fits your spending habits and needs.

  • Entertainment Credit Cards
    If you are someone who frequently dines out, watches movies, or attends live events, then an entertainment credit card is perfect for you. These cards offer a host of discounts, cashbacks, and reward points on entertainment spends. For instance, Bajaj Finserv Co-Branded Credit Cards offer free movie tickets, and complimentary airport lounge visits per year. These cards not only encourage you to lead an active lifestyle but also help you save money while doing so.

  • Lifestyle Credit Cards
    As the name suggests, lifestyle credit cards are designed to cater to your lifestyle needs. These cards offer reward points, cashback and other benefits on lifestyle spends such as shopping, dining, travel, etc. For example, the 10X Plus Signature Credit Card gives up to 10 airport lounge access for both international and domestic flyers along with other benefits.

  • Prepaid Credit Cards
    Prepaid credit cards are a relatively new concept in India, but they are gaining popularity quickly. These cards are loaded with a specific amount of money, and you can use them to make purchases just like any regular credit card. However, the difference is that you cannot spend more than the loaded amount. These cards are perfect for people who want to budget their expenses or have a limited credit history.

  • Platinum Credit Cards
    Platinum credit cards offer the highest level of benefits and rewards to their users. These cards are meant for high-end customers who want to enjoy exclusive privileges such as airport lounge access, concierge service, free hotel stays, etc. These cards require a high credit score and a significant income level.

In conclusion, credit cards have become an essential part of our financial life. Choosing the right credit card based on your needs and spending habits can help you save more and gain more rewards. The Bajaj Finserv RBL Bank SuperCard comes packed with the power of four cards to help customers avail all the benefits with just one credit card.

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Frequently asked questions

What are the 3 different types of credit cards?

Credit cards can be broadly categorised into rewards, low-interest, and credit building cards. On every purchase, rewards credit cards offer perks such as redeemable points, cashback, discounts, gift vouchers, etc. Low-interest cards charge a small amount as interest on the outstanding amount. Lastly, credit building cards assist those with a poor credit history.

What are the 4 types of credit cards?

The types of credit cards are categorised as per their used cases. Four types of credit cards include travel credit cards, business credit cards, reward credit cards, and shopping credit cards among others.

What are the 7 categories of credit cards?

The seven categories of credit cards include:

Which is the best type of credit card?

Low interest and rewards credit cards are among the best types available.

That said, it's difficult to single out a credit card type as the best one. Some credit cards offer low interest rates, while some offer rewards. Similarly, some types of credit cards in India provide luxurious benefits like access to golf courses, airport lounges etc. The Bajaj Finserv RBL Bank SuperCard variants can be considered among the best because it carries the properties of four different cards in one.

What are the 3 types of credit cards?

Credit Cards are primarily categorised based on specific needs. The three popular types of credit cards are travel credit cards, business credit cards, and reward credit cards.

How do rewards credit cards differ from cashback credit cards?

Rewards credit cards offer points for every transaction, which can be redeemed for gifts, vouchers, or airline miles. Cashback credit cards, on the other hand, return a percentage of the amount spent directly to the cardholder’s account, effectively reducing the cost of purchases.

How can I identify if a number is associated with credit card scammers?

To identify potential credit card scammers, look for unsolicited calls or messages asking for sensitive information, numbers from unfamiliar regions, or callers who pressure you to act quickly. Always verify the caller’s identity with the bank before sharing any information.

What features distinguish premium credit cards from standard ones?

Premium credit cards typically offer higher credit limits, exclusive perks like airport lounge access, concierge services, and comprehensive insurance coverage. Standard credit cards are more basic, offering lower credit limits and fewer perks, but also have lower eligibility requirements and fees.

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Bajaj Finserv App for All Your Financial Needs and Goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals. 

You can use the Bajaj Finserv App to: 

  • Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more. 
  • Explore and apply for co-branded credit cards online. 
  • Invest in fixed deposits and mutual funds on the app. 
  • Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers. 
  • Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions. 
  • Apply for Insta EMI Card and get a pre-approved limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on No Cost EMIs. 
  • Shop from over 100+ brand partners that offer a diverse range of products and services.
  • Use specialised tools like EMI calculators, SIP Calculators 
  • Check your credit score, download loan statements and even get quick customer support—all on the app.

Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.

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