There are several types of credit cards, including:
- Standard credit cards: Basic cards with no added benefits.
- Rewards credit cards: Offer cashback, points, or travel miles for purchases.
- Secured credit cards: Require a deposit as collateral, suitable for building credit.
- Balance transfer credit cards: Allow transfer of high-interest debt to a lower interest rate.
- Student credit cards: Designed for college students with limited credit history.
- Business credit cards: Tailored for business expenses and offer rewards on business-related purchases.
- Charge cards: Require full balance payment each month, no preset spending limit.