New Delhi, Jan. 30 -- Out of all the financing options available in the market, a credit card stands out due to the multiple rewards and benefits offered to cardholders. People mostly opt for credit cards for two reasons: it's buy now pay later facility and reward.

A reward is a benefit provided by a card issuer for credit card transactions. It gives a cardholder an added advantage when making purchases through credit cards. Rewards mainly depend on transaction value and types of expenses. It can be utilised in multiple ways on the basis of the credit card reward program and your preferences.

If you are planning to get a credit card or already have one, it is essential to understand the different types of credit cards to maximise the be...