Credit & loan

Dec 3 2019

What Types Of Credit Cards Can I Get, Experian, types of credit cards.

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Types of credit cards

Types of credit cards

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There are many different types of credit cards out there, so making sure that you’ve chosen the best one for you and your needs can be tricky.

Often it depends why you want it – is it to spread the cost of a large purchase, to build up your credit history, or for emergencies if you’ve run of cash? Experian CreditMatcher helps you compare different cards so you can see what would work best for you. Don’t forget, we’re a broker not a lender.

To apply for any credit card, you need to be over 18. Typically the lender will check your credit information through a credit reference agency such as Experian, and if you’re approved you’ll be given an interest rate and a credit limit based on your credit history and any other information the lender may have.

What kind of credit cards can I apply for?

Often known as ‘Gold’ or ‘Platinum’ cards, these are standard credit cards but may come with a higher credit limit or extra benefits such as travel insurance. You may need to pay an annual fee for one of these, and you’d probably need to have a good credit score too.

A card that allows you to transfer an existing credit card balance, to one with little or no interest, typically for a small transfer fee. It’s quite common now to move credit card debt you already have to another card.

These are interest-free cards that, as long as you make the minimum monthly payment, allow you to spend on the card without having to pay interest on the balance for as long as the promotional rate.

These cards could be useful to help build you credit history and often have low credit limits to start with, and perhaps a high APR, but paying off the bill in full each month can help show lenders that you’re reliable.

These credit cards allow you to earn money for everything you spend on the card, in varying amounts usually around 1-2%, with some higher limited period introductory rates.

Store cards can be useful if you shop in the same shops or chains. They often come with higher interest rates than standard credit cards and lower credit limits, but usually have special offers for cardholders.

Affinity cards (or reward cards)

The credit card companies typically partner with other organisations to allow you to a) benefit a cause close to your heart every time you use it or b) benefit from customer loyalty by building up reward points or discounts.

See your Experian Credit Score

Sign up to CreditMatcher for free, forever to get your free credit score and compare credit cards matched to your personal credit information.

Compare credit cards with Experian CreditMatcher

Experian is a credit broker and not a lender.

  • View your credit card eligibility ratings based on your credit information
  • Know which cards you are more likely to be accepted for
  • You could save time with a range of providers to choose from

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Experian acts as a credit broker and not a lender in the provision of its credit cards and personal, car finance and guarantor loans matching services, meaning it will show you products offered by lenders and other brokers. Experian acts independently and although CreditMatcher shows products for a range of lenders it does not cover the whole of the market, meaning other products may be available to you. CreditMatcher services are provided free however we will receive commission payments from lenders or brokers we introduce you to.

CreditMatcher is provided by Experian Ltd (Registered number 653331). Experian Ltd is authorised and regulated by the Financial Conduct Authority (firm reference number 738097). Experian Ltd is registered in England and Wales with registered office at The Sir John Peace Building, Experian Way, NG2 Business Park, Nottingham, NG80 1ZZ.

Copyright 2017, Experian Ltd. All rights reserved.

Types of credit cards

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