Credit Card Types
There is an enormous range of credit cards available today in the UK, all with different names and features. MasterCard, Visa along with American Express are the 3 major credit cards used in the UK. MasterCard and Visa are the names given to the global companies in charge of managing credit cards – they co-ordinate payments and keep track of your purchases. MasterCard and Visa do not however issue your Credit Card; this is instead done through the supplier you apply through, whether this be a major bank such as NatWest or a company such as Tesco.
Suppliers of Credit Cards usually offer a Standard (Classic), Gold or Platinum option of credit card product, and today flexibility is such that you can even design the appearance of your card down to the finest detail. As there is no standardisation as far as UK credit card names go, it would be impossible to provide a list of their various features. You can, however, assume that the more luxurious-sounding the credit card’s name, the more affluent a consumer it is likely to suit. If you have a large income, a good credit record and require more flexible spending allowances, then a gold or platinum card is far more likely to suit your needs over a classic credit card. Many companies are also now offering a new Black Credit Card which includes even more features and perks than the Platinum.
Whatever you needs, remember to discuss them with the credit card provider, they will know their products best and will be able to help you make the right decision.
Below we have provided links to the different types of cards that you might come across in your dealings with credit. Often it is easy to get mixed up with such similar-sounding terms, so just follow the links to get to grips with the basics.
