There are diverse kinds of credit cards for different kinds of services. Today we are going to discuss two major types of cards – Balance transfer card and purchase credit card. So lets’ have a look at the first.

Balance Transfer Credit Card

A balance transfer card is something to get out of the outstanding balance means from your accumulated debt. This is the card that can remove your interest on your existing debts and make you happy again to earn perks and benefits once again. With a balance transfer credit card, you can transfer balance gathered on a specific card to other credit cards without any interest. There are a time limit and only a limited amount of balance you can share or transfer like you can get this offer from your balance transfer card for over a year or in special cases two years.



Keep one thing in your mind that working is smooth but such services on this special card are not completely free and there is a balance transfer fee to pay when you initially move the money. The fee or charges vary from one bank to another. In most of the cases we have found that the charges are usually 2%-3% but keep an eye on it because it can vary. Some of the longest balance transfer deals have higher balance transfer fees while using these services.



The working pattern is similar to other cards like any Solitaire credit card user for shopping or entertainment purposes. You can spend on these credit cards, just as with a normal credit card but you have to pay some charges in the form of interest rate on all purchases that. If you have another credit card like a shopping credit card, you are not bound to pay an interest rate, in fact, you get some perks and discounts offers. In this scenario, we will suggest you keep things simple and have a separate card for spending.

Purchase Credit Card

This is completely opposite to a balance transfer credit card. This is the simplest and most suitable credit card type for shopping and routine based payments. It is the card for cheap shopping and to earn more profits on your spending in the form of a cashback discount offers. You don’t believe that sometimes you can earn almost 505 direct off for all you’re spending which is an amazing offer for a middle-class family member. While using a specific credit card, you have to pay some interest rate varies according to on the bank. But can you believe that with a purchase card you’ll get a 0% interest period for several months and you can purchase as much as possible without getting into interest?



If you are using a credit card in a frequent manner for different kinds of purchases on a daily basis, this is the kind of card that can help you. Your best platinum credit card limit allows you to spend without accumulating any interest even if you don’t pay back your balance in full each month. This is the card to use if you want to spend a lot of money and not immediately pay it back.