When shopping for credit cards, it’s important to find one that best fits your lifestyle. Knowing the different types of credit cards available in the market can help you decide which card is best for your needs. Here is a guide to the 7 major types of credit cards.

Unsecured Credit Card

Unsecured credit cards don’t require you to deposit cash as collateral. These cards are great for most consumers and can help build credit when used responsibly. Travel rewards and cashback cards are common examples of unsecured cards.

Secured Credit Card

Secured credit cards usually offer fewer rewards and perks than unsecured cards, but they might still help build or rebuild credit. Secured credit cards require a deposit, which is collateral for the credit limit. The amount you can borrow is usually equal to the amount of your deposit.

Balance Transfer Credit Card

Balance transfer credit cards let you move debt from other credit cards or lenders to a single card with a lower APR. Many balance transfer cards charge a 3%-5% balance transfer fee, so read the terms carefully before you apply.

Travel Rewards Credit Card

If you plan to travel, it might be a good idea to get a credit card that offers rewards for travel and/or hotel stays. These cards usually have an annual fee, but you can save money by using them on your trips.

Gas Rewards Credit Card

Gas reward credit cards offer you the opportunity to earn free gas. A gas reward card is great for people who drive a lot and can take advantage of the benefits. Rewards are usually based on how much money you spend, the number of transactions, and what type of gas station you visit. Keep in mind that many gas reward cards have certain restrictions.

Cash Back Rewards Credit Card

Cashback credit cards let you accumulate points when you make purchases using the card. You can exchange these incentives for statement credit, cash back, or gift cards. This kind of credit card is a fantastic choice for those who are cost-conscious and want to get the most for their money.

Student Credit Card

College students who want to build good credit and have almost no credit history at all might consider applying for a student credit card. Although they may have smaller credit limits than regular cards, these cards are easier to get approved for than other cards.