Types Of Credit Cards In India: Check Features And Benefits

New Delhi: As you know, credit cards are designed to meet various needs. You should pick one that fits what you specifically want. Take a look at the 8 different types of credit cards available in Indian markets.

Regular Credit Cards

It provides the convenience and security of a credit card along with additional perks such as reward points and fuel surcharge waivers. You can also get three free add-on cards to share with your spouse, adult children, parents, brothers, or sisters. (Also Read: Loan Against LIC Policy: From How To Apply To Eligibility Criteria - Here's Everything)

Super Premium Credit Cards

These cards give you special perks like free access to fancy lounges, free rounds of golf, your helper, great rewards, and cool discounts at top-notch restaurants. These cards let you spend a lot of money and you usually get an invite to join. (Also Read: Want To Restart Your Inactive Savings Account In Post Office? Here's How)

Co-Branded Cards

Having a co-branded card is awesome if you use it for certain things. You get cool perks like more air miles, discounts on flights, special check-in counters, extra luggage allowance, and free access to lounges. Plus, you can use your earned miles to get free flights. 

Commercial Or Business Cards

If you're using a card for work expenses, a commercial card is perfect. It helps you save money on business trips and purchases, and it's easy to keep track of your payments. For big companies, corporate cards come with extra perks like 24/7 reports, spending analysis, and smooth accounting.

Secured Credit Cards

If you're unable to meet the usual requirements for a credit card, like having a good income or credit score, there's still a solution called a Secured Credit Card. This type of card is designed for people in such situations.

To get a Secured Card, you need to provide collateral, which is like a guarantee to the bank that you'll pay your bills. One way to do this is by opening a Fixed Deposit in the bank.

The money you deposit in the Fixed Deposit acts as collateral for the credit card. The good thing is, that you might not even need to show proof of your income to get this type of card. It's a way for people who may not meet traditional requirements to still have access to a credit card.

Premium Credit Cards

As you make more money and have more things you want to do, you might want to get a premium card. This special card gives you more money to spend, better rewards, and extra perks. It even lets you hang out in fancy airport lounges for free. 

CashBack Credit Cards

Moneyback or CashBack Cards let you get money back when you use them for your everyday purchases. This cashback comes in the form of rewards that you can use to pay off the money you owe on your Credit Card.

Along with the cashback, you also get cool perks like discounts when you shop or dine out. Platinum Edge and MoneyBack are examples of these cashback cards.

Prepaid Credit Cards

A Prepaid Card is like a special kind of credit card that can be useful in certain situations. Let's say you want to give your child a card, but you want to control how much money they can spend. In that case, a prepaid card is a great choice.

Companies can also use these cards for their employees to cover everyday work expenses. Some examples of these cards are MoneyPlus Dependent GPR Card, GPR Card, MoneyPlus Card, and FoodPlus Card.