The major credit cards are Visa, Mastercard, American Express and Discover. Each credit card company offers different types of cards tailored to meet the needs of their customers. And different banks back each card.
Some of the popular categories include travel and entertainment credit cards, merchant cards, gas cards etcetera. Additionally, major credit cards also offer perks such as cash back, reward points, and low interest rates among others.
Use the credit card finder to learn more about major credit cards and pick one that fits all your needs.
There are many major credit cards available in the market today. Choosing the right credit card company depends on your specific requirements as well as factors such as credit scores, income, and current financial status.
What are different kinds of major credit cards?
Major credit card companies like American Express, Visa and Discover, etc. have categorized their credit card offerings based on customer needs and expectations.
Credit cards are custom designed for specific purposes such as:
- Travel and entertainment
- Business owners
- All-purpose cards
Additionally, each of these cards can have a combination of specific markets such as
- Low interest rates
- Zero fees for balance transfers
- No annual fees
- High cash back
- Instant approval
- Rewards cards offering everything from miles, discounts, and points
Major credit card companies also have options for applicants with poor credit ratings or who are new to credit. They can choose from a variety of secured credit cards for bad credit.
Which major credit card companies have high customer ratings?
With credit card offers tumbling out of your mailbox, it is important to determine the quality of the companies offering you credit. In the J.D. Power and Associates 2011 U.S. Credit Card Satisfaction Study, American Express, Discover, Barclay, and Chase rose above industry average in customer satisfaction.
The study was based on interviews with approximately 9000 credit card customers, who used different creditors. Customer satisfaction was measured using six key factors, which included:
- Terms of credit
- Client interaction
- Problem resolution
- Billing and payment process
- Perks and rewards
- Benefits and services offered
While the JD Powers survey is a powerful tool that can help you choose your credit card, it is important to remember that you have to pick a credit card that meets all your unique needs and helps you build or maintain your credit scores.
What should you consider when choosing a credit card?
Choosing a credit card can be a daunting task. With different categories, perks and fees, it can be a confusing process. The most efficient way of choosing a credit card is to make a list of your requirements.
Some of the questions you should ask are:
- What is your credit history?
- What kind of card do you want? Depending on your situation, you could opt for a student card, a business card, an airline card, a gas card, or a merchant card, among others.
- What kind of rewards do you want? Do you prefer points, cash back, or miles?
- Are you willing to pay annual fees for a prestige card or high rewards card?
- Do you need to consolidate debt?
Before making your decision, you should also examine the terms and conditions of all major credit cards such as:
- Annual fees
- Annual percentage rates (APRs)
- Credit limit
- Grace period
- Late fees
Another important factor to consider is your credit rating or credit score. According to Creditratings101, this is a measure of your creditworthiness or ability to repay your debt.
Determined by your history of borrowing and repayment, your present assets and liabilities as well as your income, these scores are used by credit card agencies to approve or reject credit card applications.
How can you get a major credit card?
You can get a credit card from a number of sources. Major credit card companies regularly send out offers in the mail. You can also sign up for store credit cards or gas credit cards within business premises. Students can sign up for credit cards on campus.
But increasingly, people are using the Internet to research various credit card offers and to apply for the credit card that fits their needs. The stress of having to choose the right credit card is eased by the convenience of being able to compare parameters such as:
- Interest rates
While there are multiple credit card companies offering various options, it is always advisable to start your search with major credit card companies with well-established reputations such as American Express or Visa. These credit card companies work with a large number of banks and merchants to provide you with a range of features and perks.
To make an informed choice, use the credit card finder tool and find the card that matches and hopefully, exceeds your expectations.
- American Express Business Gift Card
- American Express Executive Business Card
- Ameriprise Bank, FSB Platinum Card from American Express
- American Express Centurion Bank American Express Gold Rewards
- What are the major credit card companies?
- Gold Delta SkyMiles Business Credit Card from American Express OPEN
- American Express Corporate Card