10 June 2011

What are the Types Of Credit Cards

There are different types of credit cards available for credit card seekers in India. These cards provide different benefits to the users. A lot financial institutions offer various types of credit cards and an individual tends to be confused regarding which card to choose. Therefore, it is paramount to have a brief idea about the credit cards in India

Platinum credit card- Platinum credit cards have become a status symbol for most of the people in India. The rates, rewards and benefits offered by these cards certainly go a long way in showcasing your good credit rating in front of the financial institutions. These cards offer many benefits to the cardholders unlike any other debit or credit card holders. The benefits include high credit limit, insurance packages, cash advance in case of emergency, 24 hour customer services and much more.

Gold credit card- A gold credit card is a top-notch credit card available in the market today. These cards are accepted worldwide and are also considered to be status symbol. A gold credit card various benefits such as rental car insurance, travel services, emergency cash advance, round-the-clock emergency services, legal and medical assistance and many more benefits. Gold credit cardholders can also withdraw a higher amount of cash from Automated Teller Machine (ATM) than an average credit card.

Prepaid credit card- A prepaid credit card can be used on the same lines as any other credit cards available in the market today. It can be used to withdraw cash from the Automated Teller Machines (ATMs) and also for the purchase of good and services without having to pay the cash. A prepaid card is a card that come pre-loaded with a specific amount. Once the amount is finished, it can again be loaded with an amount as desired.

Gift credit card
- Gift credit cards are becoming increasingly popular as they are convenient to store and handle. These types of cards are issued with major credit card logo such as Visa and MasterCard, which means they can be, used anywhere. Gift cards can be purchased online or from the various financial institutions. A gift credit card can be used to withdraw money from the Automatic Teller Machines (ATM) and to make purchases online as well.

Virtual credit card- virtual credit cards are temporary credit cards that come with a preloaded amount that is used for certain amount of time. The cardholders have the authority to set the amount they wish to be available and time period for their virtual cards. All the purchases made with these cards are listed on the statement, just like the regular credit cards.

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