The different types of credit cards available

There are different types of credit cards available with varying interest rates, reward schemes and repayment options. Before you apply for a credit card it pays to investigate which credit card best suits your requirements.

Different types of credit cards include low interest credit cards, credit cards with rewards programs, cashback credit cards, charge cards, balance transfer cards, bad credit repair cards, secured and prepaid credit cards. aqua card provides three different types of credit cards: Classic, Reward and Advance, which offer varying interest rates to suit your circumstances and criteria.

Credit and charge cards

Standard MasterCard and Visa cards are two of the most popular and widely accepted types of credit cards. They give you a spending limit and require you to pay at least a minimum amount each month. Alternatively, charge cards – require that you settle your account payments in full each month. aqua offers a MasterCard with no annual fee, at varying rates to suit various applications including those with a low-income, a bad credit rating, students or people new to the UK.

Business and store credit cards

Business credit cards provide perks for executive customers with additional benefits such as frequent flyer airline rewards or hotel and travel points. Some companies issue credit cards that can only be used in their shops and their interest rates are generally high.

Balance transfer cards

Balance transfer cards are different types of credit cards. They allow owners to transfer a high interest credit card balance onto a credit card with no (or a low) interest rate. Quite often these credit cards come with a competitive introductory annual percentage rate (APR) of 0 percent or a cashback incentive.

Compare credit cards

You can compare aqua credit cards to find the right card for you. aqua also specialises in credit repair, and can provide a credit card specifically to help you improve your credit rating.