Best Credit Cards for Awesome
Credit - Understanding The Possibilities
If folks have
Credit, how will they
distinguish which Best Credit Cards
to pick when there are so many choices?
The information below discusses a few types
of cards to give you a better understanding
of the advantages of each:
Cashback - With a Cashback
card, customers are rewarded with a rebate that equals
a fraction of their transactions. For instance,
if an applicant is approved for a Cashback
solution that gives 5% cashback
on supermarket, gas, and pharmacy
items, as the cash back rewards add up they can be redeemed. If you
spend a hundred fifty dollars in petro, supermarket items,
and drugstore purchases every 5-7 days, at
the completion of a year, about four hundred dollars
in cash would be available.
Rewards Points - In lieu
of rewarding customers with money back, some lenders
present customers with points programs. Customers earn
points for just about every transaction. Every time the card is used, the rewards
increase. After a certain amount of points add up they can be cashed in for perks like
free merchandise, gifts, magazines, and more.
It is smart to be aware of whether or not the Best Credit Cards
for Awesome Credit you are considering offers
a redeemable rewards program.
Fuel Bonuses - Credit card issuers
can be sensitive to the price
of gasoline and will compensate
their customers for using their cards by rewarding them with a prepaid
fuel card. As transactions are completed, points are accumulated and summarized. Once a certain number of points are earned you can get a
prepaid gas card. The cool thing is, with some cards redeemable fuel rewards can be accumulated
when buying fuel.
Points Toward Free Hotel Accommodations, Car Rentals, or Frequent Air Travel Miles - When purchases are made with these cards, free travel points are earned. Once a certain number of points have been accumulated, they can be cashed in for discounted or free airline tickets or travel accommodations. These programs are great for frequent travelers.
Zero Percent Introductory Interest Rates - In the beginning when these credit cards are utilized, there are no finance charges that are applied.
The promotional period typically varies from half a year to a whole year.
Smart people use this time
to transfer balances from their interest bearing Best Credit Cards
to one of these and create a personal budget that allows them to pay the whole thing off without having to pay any finance charges. Paying the bill on or before the due date is imperative.
When a single payment is late, most
the interest free rates adjust to a much higher
rate. Customers that are applying for
Best Credit Cards for Awesome
Credit, and have the opportunity to sign up for an introductory period free of finance charges
should choose this opportunity.
Secured Cards to Build Creditworthiness - People that have this type of card
would insert a certain amount of money into a savings account.
This becomes the card's collateral At that point a credit card is
sent with a credit max equal to
the amount of the deposit. When purchases are made the credit limit decreases, low rate
recurrent payments are calculated, and a monthly invoice
is sent. If the card is active low monthly payments will become due. Secured Cards to Build Creditworthiness
are good because they perform like
normal credit cards allowing customers
the freedom to book travel arrangements including airline tickets
that commonly do not take consumer checking account
cards. However, just like prepaid cards approval is generally
guaranteed regardless of your credit score. This can help in the rebuilding process because most
secured card issuers report whether or not the bill is paid on time
to Experian, Equifax, and Trans Union. This could be an excellent
way to establish creditworthiness by paying timely
payments no matter if you have Awesome
credit or not. After making
several consecutive timely payments, most issuers will increase your credit limit without
asking for another deposit to the initial secured account.
Reloadable Prepaid Credit Cards - With
a Reloadable Prepaid card, there is no question about the credit limit. Just like
a checking account, a certain amount of money is deposited into an account and this becomes
the credit limit. When the prepaid card
balance has been completely used, a deposit into the prepaid account can be made and the new credit limit will be the amount of the new deposit. These cards
are terrific for financial planning, purchases can be tracked, and they work well for individuals that are unable to
obtain a normal depository account.
Quick approval is normally granted despite
your FICO score and there is
no need for the prepaid company to deal with the three bureaus.
With all of the diverse types
of Best Credit Cards
for Awesome credit and
benefits that are offered, it is easy to identify the best solution for your situation. Look for
Best Credit Cards that give the benefits that fit your situation. When you receive your card always
spend wisely and pay the bill on or before the due date. Super credit is a wonderful
To ensure that you keep developing a superb credit profile, follow these few rules:
1. Always have a balance less than the
credit max. Simply put, it is not smart to
"go crazy". Always keep
an account that is somewhere around forty to fifty percent
of the max on any
Best Credit Cards for Awesome Credit.
2. Pay the bill on time. Even if you cannot make more than the minimum payment due, be sure to pay the bill on time. Once a payment is more than 30 days behind, that information must be sent to Experian, Equifax, and Trans Union. This could bring down your credit profile. As a result, you may also experience a higher interest rate as a consequence of something as small as a past due payment. Hence it is recommended that consumers make this bill payment a financial priority.
3. Repay all balances down to zero every time you can.
When purchases are made, make it your goal to
pay it all off as many times a year as possible. Then once your balance is paid off it is okay to
make more purchases then pay it back down to zero again after a few months, and keep this pattern going
This process demonstrates to the issuers
that you will be creditworthy. Most lenders reward customers like this with
low interest rates, an increased credit limit, and a higher FICO score.
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Best Credit Cards
for Awesome credit
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