What are the credit card types?

Many consumers are confused when choosing between various types of credit card. Therefore, to choose well between credit card types, you need to analyze their style of use and your needs.

Credit card types serve different consumer profiles.

How do card types work?

How do card types work?

The consumer has several forms of payment available at the time of purchase. Among all of them, there are the cards. However, for each type of customer, there is a more appropriate model.

This is because they are made to offer conditions and benefits that adapt to the tastes and needs of each consumer.

What types of credit card?

credit cards

The credit card consists of two factors:

  • Card template;
  • Card mode

Inside they are the features that differentiate each type of card.

National Credit Card

The national card template is aimed at customers with a more basic use. It is only accepted in the issuing country, whether in physical or digital locations.

Being a simple credit card, it is aimed at people with lower incomes.

In addition, the national card has lower values ​​of:

  • Limit;
  • Annuity;
  • Rates.

Some banks and financial institutions offer relationship programs and other benefits.

International credit card

The international card model has a wider range. That is, it is also accepted in other countries.

It is targeted at higher income clients and, because it has reward programs and benefits, charges at higher annuity.

The international credit card offers:

  • Online shopping on international websites;
  • Travel shopping;
  • Higher credit limit;
  • Best benefit programs;
  • Withdrawals abroad.

Gold Credit Card

Starting with the gold card, all card models are international. The differential lies in the benefits offered and amounts charged by the bank.

It is aimed at customers with income from $ 2,000 and charges higher amounts in fees, fees and annuities. This is because it offers the customer an extensive benefits program.

In addition to international purchases, the gold credit card offers the customer:

  • Premium services;
  • Insurance;
  • Emergency card replacement

Platinum Credit Card

The platinum card model offers more benefits than the gold card. This is because it is directed to customers with income from $ 5,000. It is aimed at customers with large financial movement and who want a differentiated service.

Platinum credit card offers:

  • Concierge service;
  • Insurance;
  • Premium services;
  • Specialized service.

Black credit card

Being the most sophisticated model, the black card is aimed at people with very high purchasing power. This means a minimum income from $ 15,000 and huge bank movements. The annuity and card fees are the highest in the market. However, it offers the best customer benefits.

The services offered by the black credit card are:

  • Specialized attendance;
  • Concierge service;
  • Insurance;
  • Specialized attendance;
  • Advantages in hotels and resorts;
  • VIP space;
  • Priority access.

However, it should be noted that these services may vary by card issuing institution and card brand.

Institutional Card

credit Card

This type of card is offered by financial institutions at the time of account opening. If the essential account is created, the bank offers the free services determined by the Central Bank. In the case of checking account,  Usually they are multiple cards. That is, they have the debit and credit function at the same time.

However, the credit function is only released after the customer request. In addition, the credit limit will match the account balance.

Corporate card

Corporate cards are made by companies and distributed to employees for company-related expenses. It facilitates company cash management and avoids repayment issues.

Co-branded Card

This card modality is a partnership between card flags and well-known brands in the market. It aims to build customer loyalty and offers discounts on purchases.

Co-branded card is common in:

  • Clothes brands;
  • Retail chains;
  • Airlines

Prepaid card

In the prepaid card the limit is determined by the customer himself. This is because it is he who deposits the amount that will be used in the card previously. It is a good option for those who want to start using credit card but are afraid of getting into debt. In addition, it is widely used in travel because of the expense control offered. Remember that you need to be careful with any type of card. This is because, if mismanaged, they can cause a false sense of financial condition.

Spending and limiting the credit limit should be equivalent to your financial reality to avoid creating debt. Therefore, knowing how credit card types work, the one that seems most beneficial to your financial organization. Follow our founder letter with daily and free content!

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