There are four kinds of card, namely, credit card, charge card, debit card, and prepaid card.
Credit Card: The credit card issuer, upon approval of your application, will issue a card to you with a credit limit. You can use it worldwide. When you receive the monthly statement you pay the full amount or the minimum amount. Visa and MasterCard are such cards.
Charge Card: American Express and Diners Club are the issuers of charge cards. Upon receipt of their monthly statement, you have to pay the full amount. However, there is no credit limit. It is only limited by your spending power.
Debit Card: The card is linked to your savings or current account. Every time you use the card the amount is deducted from your account. You use your debit card just the way you use your credit or charge card.
Prepaid card: The other card is the prepaid card. You load the card with a certain amount and then you can use it like a credit or debit card. You use the prepaid card to limit or control your monthly spending.
Choose the right card to suit your needs
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I find the valuable information is provided by you about to the different types of plastic cards.
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