Types of Credit Cards and the Functions You Need to Know

Do you consider the middle to have a credit card? There are so many considerations before deciding what kind of credit card do you want to have, one of which is the type of credit cards like what can meet your needs. Viewed from various aspects, there are different types of credit cards can be an option. Let’s take a look and learn about the different types of credit cards:

Types of Credit Cards

Type of credit card based on the limit

Type of credit card based on the limit of the card type based on a limit known as the credit card credit card Silver, Gold and Platinum credit cards. At the top levels of platinum, there is still a credit card with a type of titanium. Titanium credit cards are very limited in ownership. Not everyone can get this card, because only those who are invited directly by the bank will get a titanium credit card.

There are a few more types of credit cards that include the specials; some of the credit card is not available in general, such as a credit card with the Visa brand issued a Visa Signature credit card and Visa Infinite. Visa Signature credit card and Visa Infinite is not reserved for the circles of mediocrity. Both of these types of credit cards are reserved for large employers with billions of assets, the famous lawyer, famous doctor etc.

In addition to Signature Visa Infinite, Visa and MasterCard are also not to be outdone by issuing MasterCard World card type. This is also the same credit card because his is not intended for the general public.

Credit Card Types Based On Function

1. Charge Card

Charge Card serves as a means of payment of a transaction of buying and selling goods or services which the customer must pay back the entire Bill in full at the end of the month or the next month with or without additional charges.

2. Credit Card

Credit cards or credit cards function as payment instruments for sale and purchase of goods or services where repayment or repayment can be done at once or by installments of a certain minimum amount. The amount of the installment is calculated from the invoice balance plus the monthly interest.

3. Cash Card

Cash Card allows cardholders to withdraw cash at bank teller either direct or through a particular bank ATM that is normally distributed in strategic places such as hotels, shopping centers and area offices. By doing the first cooperation agreement, holders of cash card one bank can also use it on other banks.

4. Debit Card

Debit Card serves to make cash transactions by not using cash but the repayment or payment is done by debiting directly the balance of the savings account of the cardholder concerned and at the same time crediting the seller’s account at the amount of the transaction value at the issuing bank.

5. Check Guarantee Card

Guarantee Card checks can in principle be used as collateral for withdrawal checks by card holders. This type of card is very popular in Europe, especially England. In addition, the card can also be used to withdraw money through ATMs.

Type of Credit Card Based On the Region of Validity Period

1. International Credit Cards

International credit card types can be used as a means of payment in force around the world. One credit card market is dominated by two brands of credit cards that have been internationally i.e. Visa and MasterCard. Both had over 100 million card holders scattered all over the world for their respective companies. International credit cards can be used for transactions in the merchant with Visa, Master Card, Diners Club, Carte Blanc, and American Express.

2. National credit card

This credit card is valid and can be used only in certain regions. Suppose can only be in the region of the Americas. In fact, the affiliate company self-published her credit card for the service of a more practical and efficient for customers.

Type of Credit Card Based On Your Affiliation

1. The credit card co-branding

This is a credit card that is issued as a result of the collaboration of the two brands, usually issuing bank with institutions or another brand for example, supermarkets, and airlines and so on.

These credit card holders can enjoy special promo from institutions that collaborate with the credit card issuer. For example, the credit card co-branding with the airlines provide discounts or special privilege for holders of credit cards when transacting in the airline.

2. Affinity credit card

Credit card affinity credit card products are rising as a result of cooperation between the issuing bank with institutions or organizations. Design and logo credit card affinity is usually created specifically so impressed.

In General, the issuance of a credit card affinity also in order that specific campaign, so the presence of credit card enables the cardholder contributed to the particular campaign. Because, the percent of cardholder transactions made will be refunded by the issuing bank in the form of endowment fund. Organizations or institutions which are invited the cooperation can be a University, college or community interests, the Organization’s alumni association, and others.

3. The Private Label credit card

This type of credit card is a type of credit card issued by the bank itself, without working with a global network of organizations such as MasterCard or VISA. Typically, private label credit cards charge annual dues are cheaper. But, the features offered are also not less complete with a regular credit card.