What are the different forms of Debit and Credit cards?

Well - debit cards, credit cards, regular ATM cards and charge cards are the means of getting cash, or getting some kind of transaction done. These cards would not need you to carry any kind of physical cash. Yes, as you stated they work on varying principles. You need to use them with utmost care and having proper knowledge about the cards you are going to use would be much important.
Types of debit cards

1.Visa Debit cards - These cards are issued as per the norms of bank's tie up with VISA payment provider. The cards are secured by VbV (Verified by VISA) platform. You can opt for overdraft facility with them.

2.VISA Electron - These again are the result of the tie up with VISA. The difference lies in the fact that these cards do not allow overdraft.

3. Master card debit cards - If a bank has tie up with MasterCard payment service, you will get a MasterCard debit card. The MasterCard gives access to worldwide funds transfer. It uses MasterCard SecureCode platform.

4. Contactless Cards - These cards do not need you to swipe your card for making transactions. Just tapping the card the payment terminal will enable the payment. The cards also allow you waving the card against the terminal, or using a NFC terminal.

5. RuPay cards - It is a domestic payment service introduced by NPCI - National Payment Corporation of India. These work under National Financial Network switch.
6. Maestro cards - Maestro is a premier card service from Master Card. It facilitates easy and hassle free international transactions. It works across 100 plus countries around the globe.

Furthermore, there are variations in the card usage format and the annual fees depending on the type of the card you opt for. These include Classic cards, premium cards, platinum cards and international cards. The annual fees will change as per card type you opt for.

Credit cards too can be of several types. Depending upon the tie up that card issuing bank, or financial institute has with the card issuer ( also referred to as payment provider) you can opt for VISA, Master or Maestro cards as indicated in case of debit cards above.
Apart from that, the broad classification of credit cards can be done on following lines -

1. Silver cards - If you are under a nominal salary range, you may need to opt for silver card. The card can be availed for a small membership fees. There is a interest free credit period that may range up to 60 days. These carry a lower withdrawal limits.

2. Gold cards - If your credit score is quite higher, you will be eligible for Gold credit card. The card comes with a slightly higher annual fee. However, you get higher credit and withdrawal limits. The Gold card provides a better reward points benefit. It may include additional bonuses in the form of travel insurance. Add on card and special cashback offers.

3. Platinum cards - The cards offer you high range of benefits in terms of usage for dining, entertainment, shopping etc. The annual fee can range up to Rs, 5000. The card entitles you to privilege offers like vouchers from top brands, better and enhanced reward points, priority memberships to renowned organisations etc.

Please note that those enlisted above are meant as a broader classification of the card types available in India or elsewhere. The actual offers, type and fees will depend on the exact bank you choose. There are other types of cards ( both debit and credit) that specifically tie up with specific brands. These are normally termed as Co-Branded cards. Some of the prime examples could be IRCTC SBI Platinum credit card and HDFC SnapDeal credit card.

You may need to get more information from the specific bank you want to get a credit or debit card from.

Here are some of the cards available in the market.

Visa Debit Card

This type of card is tied to your bank account. And you can use the cards in any places where there is an option to use Visa and Mastercard. The charges used by these set of cards are different.

Visa Credit Card

This card is offered based on bank or the credit card issuance companies policy. Your limit for withdrawal and the interest rate of repay varies based on the card plan. These cards are usable online, ATM and in other places.

Mastercard Debit card

Mastercard debit cards are also tied to your debit card. And they are usable at places where they accept Visa and Mastercard. The charges are relatively more than the Visa. Like visa, you are connected with Banks for the same.

Mastercard Credit Card

Like Visa credit cards, mastercard too has it's set of limits on the plan. The type of card that can do the same work as Visa credit card. But the plan and the issuance company decides the interest rate and the available set of discounts.

Rupay Debit Card

Rupay debit cards are usable in only the platforms that support Rupay system. This system is supported by govt and the specific set of ATM networks. Rupay is not usable in every e-commerce system or ATM.

Each of the type of the credit and debit card has the plan type which changes the way the card is being used by the users.

Platinum Card

Be it Visa or Mastercard, platinum card user are considered as high priority user. Often given to rich or the people with priority usage. The charges for interest rate are higher here. And so do other benefits.

Gold Card

These cards, be it debit or credit cards, often are given to the person with good financial track record. They have nice set of discounts and features. Gold cards also have the international usage enabled while banking or buying things online.

Silver Cards

These cards are offered to basic user with some specific set of features and benefits. And they are offered on both debit and credit card. They are also known as classic card.

Depending on the bank types and the credit and debit card issuance company, you'd find variation for the card type.

Here are the types of Debit and Credit cards along with their features, describing how they differ from each other.

Types of Debit Cards

1. MasterCard Debit Cards
A MasterCard Cirrus Card or a MasterCard Maestro Card are cards through which the customers can access to their funds worldwide and through these they can do online transactions from their bank accounts through the platform of MasterCard SecureCode.

2. Visa Debit Cards
These type of debit cards are issued with the bank's tie-up with VISA payment services and it provides the Verified by Visa (VbV) platform for any online transactions.

3. Visa Electron Debit Cards
Visa Electron debit cards are quite similar to the Visa debit cards but the difference is that these types of cards would not give you the overdraft benefit.

4. RuPay Debit Cards
This card has been introduced as a domestic card scheme by the NPCI, to facilitate every online transaction or purchase through the network named Discover and with this card all the ATM transactions would fall under the network of National Financial Switch.

5. Maestro Debit Card
Maestro from MasterCard is yet another type of debit card service that is accepted as premier and international. Maestro cards allow the customers getting immediate access to their money through an international network of compatible ATMs, online resources and POS outlets.

Types of Credit Cards

a. Gold Credit Card:
These cards are for the higher income groups having higher credit rating with higher
Cash withdrawal and Credit limit. With this type of credit card one can get an Add-on card which can be used by either spouse, children or parents of the credit card holder. The features of this card includes reward points, cash back offers travel insurance, etc.

b.Platinum or Titanium Card:
These cards though quite similar to gold credit cards have few more additional benefits
like Protection against card theft and loss, online fraud transactions, sickness and freedom from yearly fee.

c. Silver Credit Card:
These are the standard type of credit cards for the employed people with benefits like
Low membership fees, medium salary eligibility.

Other than these there are few more types of credit cards like, Business Credit card, Prepaid Credit Card, Rewards Credit Card, Balance Transfer Credit Card which have their specialized usage and users unlike the above ones.