Personal cards

Choose the best credit card

When you think of getting a personal credit card you will find a wide selection of them ranging from standard to platinum ones, and it may be quite a challenge to choose a credit card that directly corresponds to your needs. Here is Mike Credit's overview of the most popular consumer credit cards and their features.

Types of credit cards and rewards

• Standard credit cards are the most common type of credit cards with a revolving balance that allow you to borrow funds up to a certain limit. They come with simple rules, and in order to obtain them you must satisfy minimum criteria of the credit card issuer.
• Rewards credit cards apart from their basic functions enable you to have perks in the form of cashback, airline miles, discounts and other bonuses. Depending on your spending habits you can choose a credit card that will help you save money on the goods and services that you buy most often, however it is not advisable to hold your balance as the rewards credit cards have normally higher interest rates.
• Airline miles credit cards are popular among frequently flying travelers because by using it you earn airline miles that later may be switched for airplane tickets. A frequent flier card may be sponsored by a bank or a particular airline company, and sometime gives you additional discounts on hotel stays and other traveler's services.
• Cash back cards return some of the money you have spent back to you. Usually, the more you spend and the faster you pay in full your balance, the more points you get back. After collecting a certain amount of points you may either receive them in the form of a check or use them for other purchases.
• Points credit cards allow you to get reward points that can be used for groceries, gas, entertainment, hotels and gift cards. Use your credit card everywhere instead of cash, charged credit cards and pay checks, and you will earn money just for doing shopping.
• Premium Credit Cards, usually referred to as gold and platinum cards, come with exclusive features, such as access to VIP airport lounges, travel assistance and concierge services. They normally have high interest rates and are offered to people with high salaries who tend to spend a lot.

Different types of credit cards are designated to help you better manage your finances and make your life easier. Apply for a credit card online using our simple search tool and discover best credit card deals with various rewards programs for your personal needs.