Limits for different types of Credit cards

Limits for different types of Credit cards

Imagine you are employee and you have to pay all your monthly bills at a time. It is impossible for you to pay all the bills in your busy schedule. Credit card will solve such problems. Using Credit card you can pay all your bills sitting in one place. Now-a-days many of us are using Credit cards mostly for online purchases as they provide the easy way shopping. Different Cards will offer different offers and different discounts. For sudden and unexpected situations, it is mandatory that we should have enough money all the time which is not possible all the time. In such cases Credit card will come into picture.

We can use Credit card for our own limit. Some Credit cards has amount limit and some will not have any limit. This completely depends on the type of Credit card we are using. Different Credit cards will different amount limits.

  • Standard Credit card which is the most common credit card that everyone uses. Any account holder can use this type of Credit card. There is a limit of some amount and we have no option to cross this limit. We can use this Credit card in all places and can pay the due later before the prescribed time limit.
  • Premium Credit card which is much higher than Standard Credit card. Premium Credit cards offers many offers like travel discounts, Credit points, cash back etc. Platinum card, Visa card and Gold card will fall into this category as it also offers discounts depending on our usage. Limit of this Credit card depends on the person.
  • Secured Credit card which has certain limit prescribed by particular bank. The limit will be very less which we can decide and fix. We should not cross this limit at any cause.
  • Chargeable Credit card which has no limit. But the only problem is we have to the pay the due in one month. If not we will be fined late fee.
  • Special Credit card which is a business card and can be issued to two are more persons. We has an option of partnership facility for this type of Credit Card and has limit is also very high depending on organization status.

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