What are the different types of credit card?

There are three main types of credit card. Choose the one that suits your spending patterns to get the cheapest or most valuable deal.

A no frills card has no rewards program and probably no complimentary insurances. It probably has a low ongoing interest rate.

A standard credit card probably has an interest rate around 17 per cent, an annual fee and could be linked to rewards programs. It probably also comes with complimentary insurances.

A premium credit card usually delivers big rewards for big spenders. A premium card usually has a high annual fee and fairly high ongoing purchase interest rate.

Source: Bankheadlines.com.au 

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