The Credit Card (Shopping): The purpose o this card is to buy any item withing the limit prescribed by banks to cardholder. These cards can have both Magnetic stripe and Chip cards.
Now a days all banks are issuing credit cards with CHIP and PIN. After entering the PIN by cardholder, then transaction starts for further processing.
The debit (ATM, Cash) card is a relatively new method of payment. It is different from a credit card because the debit cardholder pays with the money available in their bank account, which is debited immediately in real time. A debit card seems to be more dangerous compared to a credit card because the debit card is directly linked to the bank checking account and usually allows ATM cash withdrawals.
On the other hand, it is more protected by the required two-factor authentication (PIN number plus card itself). The real dangerous element of many branded debit cards is that they can be processed as credit cards, without entering the PIN.
The Gift card is similar to a debit card but usually does not have the protection provided by a PIN. The gift card is not linked to a bank account and normally "contains" fixed amounts of funds. The card itself does not hold any financial information—the point-of-sale (POS) terminal communicates with the gift card provider during payment transactions in order to get authorization.
Gift cards are less dangerous than credit and debit cards because only fixed, often very limited, amounts of money can be stolen.
Also read: Credit cards domain knowledge
Fleet cards, even though often issued by major card brands, are less interesting to "bad guys" because they cannot be used for ATM withdrawal, online shopping, or purchases in department or grocery stores.
Co-brand cards A co-branded card is a retail merchant credit card that is issued in partnership with a specific network processor. Co-branded cards are branded with the logo of the network processor and retailer.
A private label credit card is a store-branded credit card that is intended for use at a specific store. A private label credit card is a type of revolving credit plan managed by a bank or commercial finance company for either retail or wholesale manufacturers, such as department and specialty stores
Also read : Credit card domain knowledge