It’s no surprise that credit cards are integral to spending and managing your money. In fact, 84% of adults had a credit card in 2021, according to the Federal Reserve. Usage among those adults varies across income levels, with some tending to pay their monthly bill in full and others carrying a balance, but so does the type of credit card.
There are several types of credit cards, such as travel credit cards, business credit cards, student credit cards, co-branded credit cards, store credit cards—and, of course, cash back credit cards, which can be a worthwhile perk if you use it to your advantage.
