5 Different Types of Credit Cards



5 credit card types
There are 5 Credit Card Types, image from Mortgagefit.com
According to Mortgagefit.com administrator’s blog, there are 5 credit card types. The image to the left illustrates them. They include:

5. co-branded credit

4. store credit

3. charge credit

2. general credit

1. secured credit


In addition, the following describes what they are. This is also according to their blog administrator. Keep in mind that the blog post is from 2011.

five credit card types
There are five types of credit cards according to Mortgagefit.com



In my opinion, the administrator’s blog post uses generic definitions. By today’s standards, they are not technical or simple. In addition, the post is dated. As a result, it is not exactly accurate by today’s standards. Therefore, I have attempted to clarify the types of credit cards that exist. In my blog post series written about credit cards, these are the types of credit cards:
1. network
2. co-branded
3. secured and unsecured

In my blog post, Different Types of Credit Cards And Their Best Uses, Part One – July 2019, network and co-branded are explained. Part Two in that series reviews network and co-branded cards as well as explores secure versus unsecured cards. To compare accurately, I want to explain each type individually, mine versus the Mortgagefit.com definitions.


There is some agreement of terms between mine and Mortgagefit.com. #5.co-branded: #Co-branded credit cards: These cards are the same as general credit cards. But these cards have a “special relationship” with a particular organization or retailer. So, if you purchase goods/items from those particular organization or retailers, then you will be able to extra rewards and benefits. However, these cards can be used in other stores as well. A good example of such a card is Amazon.com credit card.”

#1.Secured Cards

“People who have a bad credit history or no credit history at all can take help of these secured cards. These secured cards are similar to that of general credit cards. However, in case of these cards, you must make a fully refundable deposit, either by cash or by sending a check. This deposited amount is considered as your credit line. As a result of this deposit, all the secured cards offer guaranteed approval.” This standard seems to work about the same today. So this card’s name and description are still solid. Here’s one card in both blog post comparisons.

But I find #4.store credit, #3.charge credit, and #2.general credit somewhat confusing. Therefore, I wish to simplify them to be more accurate by today’s standards. Otherwise, they should be eliminated.

#4.store credit, #3.charge credit, and #2.general credit

“General Credit Cards: A very common type of credit card is the general credit cards. Such credit cards don’t require any kind of security deposit and can be used in most stores/shopping malls or to make any kind of purchases.” This seems to describe both network and co-branded cards.

#Charge Cards: These cards are very similar to general credit cards. However, the major difference lies in that fact that unlike general credit cards, you will have to pay your total balance in full every month.” What does this remind you of by today’s standards? The only one, in my opinion, is what is called a store credit card. I find them to be minor players in the credit card count either way. I still find them confusing.

#Store Cards: These cards are similar to that of credit cards. However, these cards can only be used to buy goods at the store that has given you the card. Macy’s Credit Card is a good example of a store card.” These sound like store cards that are not backed by any banks. Therefore, I would combine charge cards and store cards into one kind of credit card. That reduces the number to four kinds of kinds from 5. In addition, I am still confused by charge cards today. I have about five of them. The only reason I got them is for the 5% discount when I charge merchandise in their stores.


What then is really the number of types of credit cards? Let’s look at each category.
1. Secured cards are definitely relevant today especially with people starting out to establish credit. But since they are offered by large banks, and can be upgraded, I do not give them their own category. Total of 0.
2. Somewhere in-store card, charge card, and a general credit card are what we call, the network and co-branding cards. They are unsecured cards and do not need their own category. Total of 2.
3. Charge cards are fazing out overshadowed by the above cards. In my opinion, they rate a total of 0.

It seems to me that one can not argue that there really are no more than two major types of credit cards as I presented in my recent blog posts, Different Types of Credit Cards And Their Best Uses, Part One – July 2019 and Credit Card Differences And The Best Uses of Each Type, Part Two – July 2019.

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5 Different Types of Credit Cards

Different Types of Credit Cards And Their Best Uses, Part One – July 2019

two types of credit cards-network and co-branded

secured and unsecured cards

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