Nowadays Credit Cards are more than just a piece of plastic that allows you to purchase things around the world either while traveling or online. But how do you Compare Credit Cards and what type of card should you apply for?
Here’s a list of different types of cards with rewards that you might find appealing.
A Rewards card.
Almost like a cash-back card only here you’re rewarded for 
using your card instead of getting cash back. Rewards can be anything from store loyalty points like FNB e-bucks, travel discounts or even vouchers to spend at certain retailers.
An Air Miles cards.
It’s another sort of reward where you earn points on day-to-day spending that can be spent on cheaper flights, upgrades or even travel schemes.
A Travel card.
This card is intended for out of country spending, and many of them won’t charge any fees for this.
A premium card.
These cards can offer cash-back, insurance, and even reward points. They usually charge an annual fee and will need a perfect credit history.
Some of Likemoney’s best value premium credit cards:
Question:
Are charge cards the same as premium credit cards?
Answer
No, but they’re almost the same. With a charge card, you’ll have to repay the balance in full every month, most have an annual fee, and not all retailers will accept them. Charge cards are mostly used by business people or the huge earners, and you can expect to earn loyalty points or get some other perks when using it.
A charity card/ Affinity Cards.
As the name suggests, every time you spend on this card a small portion is donated to a charity. Not many of these cards just yet in South Africa.
A student card
Some issuers provide a student credit card and are for the typical demands of the student life. The card usually has a pretty modest credit limit, and the student will need a student bank account to qualify.
Question:
Are store cards the same as a credit card?
Answer
Not really, but they do require a credit agreement and does work in almost the same way. Though the terms of a store card aren’t as attractive as with a credit card. For example, with a store card, you don’t get a grace period, so you start paying interest from the moment you make a purchase and it can be pretty high.
Conclusion:
These aren’t all of the types of cards with rewards but they are the ones mostly used in today’s life. Once you’ve seen a card you’d like and is ready to dive right in, compare credit cards with Likemoney and slime all the way. Should you have, any questions take a look at the most asked credit card questions. Leave a comment or question below as we’d love to hear from you.
Likemoney.co.za does all the credit card comparisons for you based on how other South Africans rate them. Not only can you find the top rated credit card in the country but you can also filter for the lowest interest rates, lowest monthly fees, lowest income to apply and card types. Should you still be unsure about what type of credit card you’re looking for, take a look at the examples below.
How to apply for a credit card
