Types of credit cards, explained

Types of credit cards, explained

Credit cards can be a beneficial addition to your wallet, as long as you choose the right one and use it wisely. Many rewards credit cards they come with different benefits such as cash back or travel rewards. And whether you’re a student looking to get your first card, or struggling with credit card debt, finding a card that meets your needs can save you time and money. That’s why it’s important to know how to choose a credit card that’s right for you.

types of credit cards

rewards cards

A rewards credit card is a card that allows you to earn points, cash back, or airline miles on purchases. Some cards have a fixed cash back rewards rate, while others offer higher points on purchases made in specific spending categories. Flat rate rewards cards offer a fixed percentage of cash back or points on all purchases made with your credit card, and are good for cardholders who prefer a simple rewards structure. On the other hand, tiered rewards cards offer higher rewards earnings on purchases in various categories, such as travel and dining. Using a rewards credit card is an easy way to earn on the purchases you’re already making.

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