Which type of card?
There are five main types of credit card, each of which
will appeal to different consumers:
Standard
Visa and MasterCard are two of the common credit cards available.
These should not be confused with debit cards, which are
issued by many banks for spending money directly from your
bank account.
Platinum and Gold cards
These are usually only available for people with higher
levels of income, and often have benefits attached to them.
Charity and Affinity Cards
These operate in the same way as standard credit cards but
a small percentage of what you spend is donated to the charity
to which the card is connected. · Loyalty Cards These cards
tend to offer incentives such as cash bonuses, Air Miles,
points and other discounts.
Store Cards
Store cards are operated by finance companies on behalf
of either an individual store or a network of different
shops. These cards usually offer a discount on goods that
you purchase from stores using the card.
Charge cards
Charge cards differ from credit cards in that they often
have a higher monthly spending limit, and sometimes no limit
at all. However, unlike a credit card, the full balance
of the debt must be settled each month.
