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Different types of Credit Cards and their features

Types of Credit Card

Certain purchases online are easy to make using a credit card. If you want to book a room in a hotel, you can do it easily with a credit card. Why is it so? A hotel can authorize a transaction, without any charges at the time of booking, but can charge you after your stay without swiping the card. With a credit card, you can find this facility as the hotel can successfully have a certain amount blocked during the period of your stay, which is debited only when you check out. This ensures that their payment is secured.

A credit card has become essential for anyone, for it offers easy access to credit. People with reasonable income find a credit card convenient for they can buy things they want urgently now and pay later. Considering the varied wants of people, a credit card is so designed that there are different types of cards ranging from regular and premium to super premium cards offering high-quality lifestyle.

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It says understanding a customer is profitable, and hence, most types of credit cards are meant to offer personalized experience through features such as unlimited reward points, frequent flyer points, etc. Here are some common types of credit cards to help you choose a suitable one.

Types of Bank Credit Cards


Regular Credit Cards


A regular credit card is one of the types of card a bank offers to a customer with several features. For instance, IDFC FIRST Bank has the FIRST Classic Credit Card and FIRST Millenia Credit Card in this category. The cards offer numerous benefits such as discounts, complimentary railway lounge access, personal accident coverage, fuel surcharge waiver, and free roadside assistance.

They also offer gift vouchers on joining, interest-free cash withdrawals and cashback offers. You also get a lot of reward points on offline and online buying, which are redeemable anytime.

Premium Credit Cards


If you are looking for better lifestyle benefits and privileges, premium credit cards can offer you. IDFC FIRST Bank offers you the FIRST Select Credit Card with amazing reward points on buying online and offline and a higher credit limit. It also attracts lower forex mark-up fee on shopping internationally. The premium types of credit cards also offer airport and railway lounge access, discounts on dining at restaurants and health and wellness outlets, comprehensive travel insurance coverage, personal accident insurance, and more.

These types of credit cards also come with super saver benefits such as no interest on cash withdrawals, no fees on over-limit usage and reward redemption.

Super Premium Credit Cards


With these types of credit cards, banks serve special customers who are highly worthy and have used several of their services. For exclusive lifestyle experience, IDFC FIRST Bank offers the FIRST Wealth Credit Card with unique benefits. They include travel privileges of complimentary lounge and spa access at both domestic and international airports, low forex mark-up fee, air accident and personal accident coverage, complimentary lost card liability and travel insurance.

In addition, the super privileges include golf round lessons every month, discounts on shopping, dining and health check-ups and fuel surcharge waivers.

Co-branded Credit Cards


As for the types of credit cards, you can also find cobranded cards offered for specific purpose and usage. For instance, IDFC FIRST Bank Sodexo – Meal Card offers easy payments at Sodexo merchant outlets and tax-saving benefits. The IDFC FIRST Bank Sodexo Premium Pass – Celebrations is meant for special occasions, and offers discounts and tax-saving benefits. 

With several types of bank cards available, it is important that you choose your card carefully by reading the terms and conditions that apply to your card. If you don’t have one, you can apply here.

To know more about IDFC FIRST Bank Credit Cards, click here.

 

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.

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