There are 5 types of cards: Rewards Cards, Low Interest Cards, Balance Transfer, Cards for Average or Bad Credit, and Student Cards.
Rewards credit cards give you something back for each purchase you make. Generally, these cards require good credit. They come in different types:
Rewards cards are ideal for cardholders who pay their bill in full every month. When you carry a balance, interest charges can add up quickly.
Low interest cards don’t give you rewards; instead, they provide value with a lower interest rate, making it less expensive to carry a balance.
A balance transfer credit card lets you move your debt from another issuer to take advantage of a lower interest rate. Generally, these cards require good or excellent credit.
Credit card options for those with less-than-good credit are more limited. Rewards are more scarce, and interest rates are higher. Use these cards to improve your credit so you can qualify for better offers down the road.
Being a college student doesn’t automatically qualify someone for a student credit card.