You will be pleased to read that, as with most financial products, there is a huge selection of credit cards available from numerous providers offering slightly different features and benefits. So, hopefully, there should be one or more to meet your requirements. However, we thought you would find it of use if we highlighted the main types and also how to select the right credit card to meet your individual needs.

What are the basics of a credit card?

A credit card is normally used to buy goods and services either online, over the phone or in a shop or it can be used to withdraw cash. The provider agrees to a revolving credit limit that you can utilise based upon your personal situation and, at the very least, you will be required to make minimum monthly repayments of either a certain amount or a percentage of the outstanding balance.

You may be charged interest and an annual fee depending upon the terms and conditions. The interest rate is usually higher than for say a personal loan so, ideally, you should aim to clear your outstanding balance in full each month.

What types of credit cards are available?

Well, there are several to select from so hopefully there is one to suit you. Below we provide details of some of them: 

Low-interest rate credit card

Low-interest rate credit cards may be ideal for those who use the card on a regular basis and are not able to manage to clear their balance every month or just make the minimum payment required. Be aware that it may come with a higher annual fee.

No or low annual fee credit card 

This may be suitable for those who don’t spend too much when using the card as well as those who are able to clear their balance each month. However, do bear in mind that it may come with a higher rate of interest.

Balance transfer credit card

If you are a frequent user and have built up debt on another credit card, you can use this type of card to transfer some or all of the balance from your existing card to the new one and pay no interest on the amount transferred for a period of time.

Premium credit card

Premium credit cards appeal if you pay off your balance each month and are looking for extensive benefits such as travel insurance and extended warranty cover on certain appliances. Both the interest rate and fees may be higher than with a standard credit card.

Frequent Flyer credit card

This credit card may appeal to you if you clear your balance every month and use one airline to travel on as you may be able to build up points every time you use the card to pay for an airline ticket with these points being used at a future date to reduce the price you pay for another ticket or get a seat upgrade. Do bear in mind that both the interest rate and the fees could be higher than with a normal credit card.

Rewards credit card

Rewards card may interest you if you clear your outstanding balance every month and like buying goods as it enables you to earn points based upon how much you spend on certain purchases and these points can be redeemed for say some other retail goods or gift vouchers. However, the interest rate and fees charged may be higher than with a normal credit card.

Where to find the correct credit card?

If you are considering applying for a credit card then there are a number of places that you can source one. For instance, you could contact your bank, apply direct with a credit card provider online or over the phone or use the likes of a price comparison website that provides details of many types of credit cards.

Can you get a credit card with bad credit?

If you have a bad credit history, your application will probably be declined. However, if your credit rating is only slightly less than satisfactory you may be fortunate and get approved perhaps with a low credit limit. If you feel that your credit file is incorrect you may be able to have your credit repaired. If you are declined for a credit card then there are other forms of finance such as a bad credit personal loan.

Is your credit card debt piling up?  If so, you may want to consider a debt consolidation loan. This will help you manage your finances by merging all your debt into one neat and tidy loan.


As long as you meet the criteria, obtaining a credit card is relatively straightforward but, as you can see, it is very important that you know how to select the right credit card. For instance, if you have built up a debt on an existing one, are paying a high rate of interest and are unlikely to be repaying it in full in the very short term, you may wish to consider a balance transfer credit card charging 0% interest for a period of time thus saving yourself a significant amount of money and paying back the liability quicker. We do hope that you have found the above to be of benefit.