Best Credit Cards for Okay
Credit - Learning The Options
If folks have
Credit, how can they
tell which Best Credit Cards
to pick when there are so many choices?
This article will break down a couple types
of cards to offer a better understanding
of the pros of each:
Cashback - With a Cashback
card, you may be offered a rebate equal to
a fraction of their transactions. For instance,
if somebody has a Cashback
offer that gives five percent cash back
on food, fuel, and pharmacy
purchases, as the rebates add up they can converted to cash. If you
use $150 in petro, groceries,
and drug store purchases each week, by
the end of a 12-month period, almost $400
in cash back rewards would be ready to cash out.
Rewards Points - Instead
of rewarding customers with cash rebates, some companies
offer points programs. Customers get
rewards for making purchases. With each swipe of the card, the rewards
add up. Once a specified number of points have accumulated they can be redeemed for great stuff, such as
free merchandise, gift cards, magazines, and so on.
It is important to know whether or not the Best Credit Cards
for Okay Credit you apply for offers
Fuel Rewards - Lenders
are often times considerate of the cost
of gas and will reward
consumers for making card purchases by offering them a free
gasoline card. As the card is used, points are accumulated. After a specified amount of points are accumulated they can be cashed in for a
free prepaid gas station card. The cool thing is, with some cards fuel points can be earned
when making gas purchases.
Points Redeemable for Free Hotel Stays, Rental Cars or Frequent Air Traveler Miles - When purchases are made with these cards, redeemable points that can be cashed in for free travel miles are earned. After an accumulation of a certain number of points, they turn into vouchers that can be used for discounted or free travel arrangements like rental cars, hotels, or even airline tickets. This kind of card is great for business travelers.
0% APR Promotions - Finance charges are not applied on these cards for a specified amount of time.
The promotional period generally lasts anywhere from six to twelve months.
Most times, folks take advantage of this kind of card
to shift their balance from their current Best Credit Cards
to one like this and pay it off while there are no finance charges being accrued. Making monthly payments on time is crucial.
When one payment is received late, most times
the introductory rates go up to a higher
rate. Folks that are applying for
Best Credit Cards for Okay
Credit, and have the chance to get an interest free period
should choose this money saving option.
Secured Cards to Build Creditworthiness - Customers with a secured card
must insert money in an account that can earn interest while it is there.
This "is why the card is called "" secured"" ." After the deposit is made a card is
sent with a line of credit in
the amount of the deposit. Each time a transaction is approved your available credit is recalculated, low rate
regularly scheduled payments are computed, and a bill
is is mailed. If the card is being used a relatively small monthly payment is expected. Secured Cards to Build Creditworthiness
are perfect because they function the same as
standard credit cards allowing you
to complete all kinds of transactions including booking travel accommodations including rental cars
that typically do not accept check
cards. One of the best things about the application process is that approval is generally
guaranteed no matter what. This is good because most
secured card companies report whether or not you are keeping up with your payments
to the credit bureaus. This can be a fantastic
practice to establish creditworthiness by making timely
payments whether you have Okay
credit or not. After paying
a certain number of payments in a row, many times the limit can be increased without
requiring additional collateral.
Reloadable Prepaid Credit Cards - With
a Reloadable Prepaid card, purchases can be made without interest, fees, or finance charges. Similar to
a conventional account, a deposit is made into an account and that becomes
your spending limit. As the prepaid card
balance has been completely used, simply put more cash into the prepaid account and your card will be ready for use once again. These cards
work well for staying on a budget, they allow people to make online purchases, and they work well for individuals that are unable to
acquire a standard checking account.
Approval is usually granted regardless of
your FICO report and there is
no need for the prepaid company to send any inquiries to the three bureaus.
With all of the diverse types
of Best Credit Cards
for Okay credit and
benefits that exist, there is something for everyone. Consider
Best Credit Cards that offer rewards that match your lifestyle and spending style. Make an educated choice and always
try to keep your purchases at less than half of your credit limit and make more than the minimum payment every month. Great credit is an awesome
thing to have.
To make certain that you keep cultivating a super credit profile, obey these easy rules:
1. Maintain your bill at no more than half of the
card's limit. Simply put, don't
"go crazy". It is smart to keep
a bill that is no more than forty to fifty percent
of the max on any
Best Credit Cards for Okay Credit.
2. Pay the bill on time. Even if you have to make just the minimum payment that is listed on your monthly statement, that will be just fine. If you miss a payment, it may be told to the credit bureaus. This negatively affects your FICO score. And let's not forget the fact that when this happens you may also be assessed a higher interest rate as a result of a past due payment. Thus it is smart to stay on top of the bill.
3. Repay the entire bill every few months.
When you make purchases, do your best to
pay the balance back down to zero as much as possible. Afterward, go ahead and
make more purchases and after a couple of billing cycles, pay the whole thing off just like you did before, and make this your repayment pattern.
This sequence illustrates to the issuers
that you will be an excellent credit candidate. Some other perks you could get when you repay in this way are
low interest rates, a higher credit max, and a better FICO score.
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Best Credit Cards
for Okay credit
are available online. Act now
to apply for a card that suits