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Exploring the Different Types of Credit Cards

Nowadays, applying for different types of credit cards is not only possible but much easier than ever before. However, choosing the right card isn’t simple, especially if you are new to credit cards and unfamiliar with the available options. 

Here is a rundown of all the different types of credit cards, their usage and benefits.

Different Credit Card Categories

Here are all the primary categories of credit cards that you can explore. 

Type of Card Purpose Main Benefits 
Business Credit Card Useful for business owners and entrepreneurs as it streamlines access to credit and
  • Helps manage business-related expenses 
  • Provides instant credit to maintain smooth business operations
  • Covers the cost of travel, accommodation, etc, for business purposes  
Co-Branded Credit Cards A partnership product that gives the cardholder exclusive discounts at a brand’s retail outlets or website 
  • Earns higher reward points on select spends 
  • Has additional perks such as offers on hotel and flight bookings, fuel, baggage check-in, travel insurance 
  • Encourages customers to stay loyal to a brand 
Fuel Credit Card  Offers competitive fuel-related advantages, often in partnership with oil companies
  • Waiver on fuel surcharge 
  • Roadside assistance and related insurance policies
  • Annual savings on fuel purchase 
Lifestyle Credit Cards Provides a variety of offers on day-to-day lifestyle-related expenses
  • Enjoy discounts on dining, travel, shopping, entertainment, etc
  • Enjoy statement credit, cashback, and offers, with budget-friendly offers 
  • Redeem your rewards for airport lounge access and gift vouchers
Prepaid Credit Cards  Helps people without high credit scores to access credit card facilities and benefits
  • Allows flexibility in choosing a credit limit 
  • Suitable for people with poor or no credit history, such as young adults or students
  • Helps establish a credit profile
Secured Credit Cards Beginner-friendly card wherein you get a credit against a fixed deposit
  • Suitable for people new to credit, such as college students 
  • May offer instant credit card 
  • Has relatively lower fees and charges 
Shopping Credit Card  Ideal for frequent shoppers to avail of exclusive discounts and seasonal offers
  • Provide offers throughout the year 
  • Makes online and offline shopping convenient and delightful
  • Allows you to convert purchases into affordable EMIs
Travel Credit Cards Beneficial for savings on travel expenses and accessing exclusive offers such as free upgrades, discounts on fare, and more
  • Earn higher air miles
  • Enjoy luxury stays at discounted rates and get free upgrades 
  • Get complimentary dining, baggage, and travel insurance

There are also other types of secondary card categories you can go for, which include:

  • Cashback Credit Cards
  • Premium Credit Cards
  • Rewards Credit Cards
  • Add-on Credit Cards 
  • Lifetime-free Credit Cards 
  • Student Credit Cards

Top Business Credit Cards in 2024 

  1. ICICI Bank Business Credit Card: This card gives up to 40% savings on business software purchases 
  2. HDFC Bank Business Money-Back Credit Card: You can earn up to 5% off on all business expenses with 50 interest-free days  


Top Co-Branded Credit Cards in 2024

  1. Amazon Pay ICICI Bank Credit Card: Gives 5% cash back to Prime members and 3% to other shoppers on the Amazon website 
  2. Fibe Axis Bank Credit Card: Enjoy higher security with India’s first numberless credit card that gives up to 3% cashback on all spends 


Top Fuel Credit Cards in 2024 

  1. IndianOil HDFC Bank Credit Card: You can save up to 50 litres worth of fuel costs annually  
  2. BPCL SBI Credit Card: Get 4.25% value back or 13X rewards points on your fuel purchase at BPCL petrol pumps 


Top Lifestyle Credit Cards in 2024 

  1. Axis Bank Privilege Credit Card: This card gives shopping vouchers of ₹5,000 as a welcome bonus 
  2. HDFC Bank Regalia First Credit Card: Earn 4 reward points per ₹150 spent and enjoy perks on dining expenses


Top Prepaid Credit Cards in 2024 

  1. Kotak Spendz Prepaid Card: Make secure and flexible payments through UPI to earn 1% cash back daily 
  2. HDFC Bank Millennia Prepaid Card: Get 5% cashback up to ₹5,000 annually on online and offline spends 


Top Secured Credit Cards in 2024 

  1. OneCard + FD combo: Enjoy up to 90% of your deposit value while earning up to 7.5% interest annually 
  2. Kotak 811 #DreamDifferent Credit Card: Lifetime-free credit card with 48 days of interest-free period post activation 


Top Shopping Credit Cards in 2024 

  1. One Credit Card: Convert big-ticket purchases into no-cost EMIs, which you can manage with ease with the powerful app
  2. Axis Ace Credit Card: Up to 5% assured cashback on all transactions  


Top Travel Credit Cards in 2024 

  1. Air India SBI Signature Credit Card: Enjoy complimentary lounge access at international and domestic airports 
  2. Standard Chartered EaseMyTrip Credit Card: Avail 20% flat off on hotel booking and 10% off on flight booking


You can choose any of these cards, but check your eligibility before you apply. Make sure to read all the terms, fees, and charges, and ensure that no details remain unchecked. For a lifetime-free credit card that combines the best features into one, choose the One Credit Card

With its 5X reward program, you can get accelerated points for your monthly top two purchase categories, and these points never expire. You also enjoy no-cost EMIs, zero redemption fees, zero annual fees, and great deals on shopping and dining. Apply online and get a premium metal card with ease! 

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