Credit card species, revealed

Along with various shapes and sizes, there are a few different types of credit card. It helps to work out what sort of credit card user you are, and choose one accordingly.

Cheap credit cards. Various providers offer low rate cards (often 10% less than standard interest rates), which are a must if you find yourself paying interest on purchases.

• Where are the low credit cards?

Balance transfer cards

If you've already done your spending, a balance transfer card can help you pay off your debt faster.

• Credit balance transfers. Show me more!
• Sounds too good to be true. Tell me more...

No fee cards

If you always pay off your credit card each month and only use it for the occasional purchase, go for a credit card with no annual fee and interest free days. Ignore credit card rewards programs as they tend to have high fees and you're unlikely to get value out of them if you don't spend much on your card.

• Free credit cards are where I want to be.

Rewards credit cards

Those who spend big on their credit card - but always pay off their monthly balance - will get the most benefit out of credit card rewards programs. Rewards credit cards generally have higher annual fees, so you need to make sure this is offset by the value of the rewards you'll earn.

• Card rewards are floating my boat!

Metal heads

Gold cards and platinum cards might make a statement, but you don't want it to be of the big monthly bill variety. That said, they often come with decadent benefits such as travel insurance and partner deals.

• Gold cards are where it's at!
• Platinum cards trump gold, baby.

Wait wait wait!

I want to know more about credit card balance transfers.

Been there, done that

So how do I avoid fees on my credit card?