There are three main categories of credit cards: bank credit cards, retail credit cards, and travel and entertainment cards: Bank credit cards: Retail credit cards: A bank credit card account, an open-ended account at a financial institution, allows the holder to make purchases almost anywhere. There are several types of bank credit cards, including prestige cards and affinity cards. A retail credit card allows a customer to make purchases on credit at any of the outlets of a particular retailer or retail chain. A travel and entertainment (T&E) card allows the holder to make purchases at numerous businesses. However, the entire balance must usually be repaid within 30 days. Travel and entertainment (T&E) cards: Luke's credit card is offered by Nordstrom. He can use the card at any Nordstrom store location, but he cannot use the card for purchases from other companies. Luke's credit card is probably best classified as a retail credit card a prestige bank card a T&E card an affinity bank card