1521- Karma, Morality and Transmigration:

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Basically there are three kinds of Karma.
“They are called
1)Sanchita or the possible karmas based on past lives,
2)Prarabdha or the past karmas now due, and
3)Agami or the future or possible karmas.

1)Sanchita constitutes all the accumulated Karmas of past life times of an individual. Sanchita is the totality of accumulated karma that one has collected from past lives.
Sanchita karma= The aggregate of actions done in the past including past lives -minus - Prarabdha karma

2) From sanchita karma, one chooses a portion to work on during this current life time, is Prarabdha karma. Prarabdha karma is visible during this current life time in a man’s character, evinced by his tendencies and aptitudes, capabilities, and desires. These karmas are ripe for reaping and can’t be avoided or altered. These are both productive and destructive, positive and negative. They can only be worn out through living them out, just as an individual settles past debts.
Prarabdha karma = The aggregate of actions that begin to bear fruit the moment one is born and is to be worked out in this life.

3)Agami karma= The aggregate of actions that one is yet to do.”
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“There is a beautiful analogy in Vedic lore.
1)An archer has bundle of arrows in his quiver. The quiver contains his Sanchita karmas.

2)The archer has already shot an arrow. The arrow it has left his bow. There is no way he can recall it . The one he has shot represents his Prarabdha (past).

3)He is about to shoot another one. The one that he is about to let loose from his bow constitutes his Agami (future) karma.

Of these, the archer has complete control over the (current) Sanchita and Agami (future) karmas. Nevertheless, he has to very meticulously work out his (past) Prarabdha. The past that has started to take effect, he has to undergo.
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There are three kinds of actions, -they are good, bad and mixed.

 Good Karmas are those that make the individual Divine, a god or angel in heaven.
Bad Karmas cast the individual you into lower wombs (of reincarnation).
Mixed actions are responsible for giving an individual a human birth.

All karmas are a blend of good and evil. In this world, there are seldom absolute good karmas or absolute bad karmas.

This manifest universe constitutes a relative plane in which, if a person performs an action, it will have a constructive and destructive component( because God contains it all). Hence we must all strive to perform actions which will bring us maximum good and minimum evil.”
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source: www.yogawiz.com
(Thanks to Moojiji)