Best Credit Cards for Top Notch
Credit - Knowing The Possibilities
When folks have
Credit, how do they
know which Best Credit Cards
to choose when there are so many choices?
This article will break down a few varieties
of cards to offer a better outline
of the benefits of each:
Cashback - With a Cashback
card, customers are rewarded with a refund equal to
a percentage of their transactions. For example,
if an applicant is approved for a Cashback
offer that gives 5% cashback
on groceries, fuel, and drugstore
items, as the rebates add up they can converted to cash. If you
use $150 in gasoline, supermarket items,
and drug store purchases every week, at
the end of a 12-month period, almost $400
in rebates would have accumulated.
Redeemable Points - In lieu
of offering money back, some companies
give points programs. Customers get
rewards when purchases are made. As purchases are made, the points
add up. When you earn enough points they can be redeemed for items including
free travel, gift items, magazines, and more.
It is important to know whether or not the Best Credit Cards
for Top Notch Credit that you want will offer
a points program.
Fuel Bonuses - Card Issuers
can be considerate of the price
of gasoline and will offer an incentive to
their customers for making card purchases by offering them a prepaid
gas card. As the credit card is utilized, reward points add up. Once a certain number of points are earned they can be cashed in for a
prepaid fuel card. The funny thing is, with some cards gas points are actually accumulated even
when making gas purchases.
Rewards for Free Hotel Accommodations, Car Rentals, or Frequent Flyer Miles - When this kind of card is utilized, redeemable points that can be used for free travel arrangements including airline travel are accumulated. Once enough points are accumulated, they can be applied toward all kinds of travel arrangements including free air travel. This kind of card is great for business travelers.
Zero Percent Introductory Rates - With these cards, finance charges are not accrued for a certain amount of time.
This time period typically spans 6-12 months.
Generally, customers take advantage of this kind of card
to move outstanding balances from their current Best Credit Cards
to one of these, then pay the balances off within the promotional period. Paying the bill on or before the due date is especially crucial.
When just one payment is overdue, generally
the interest free rates adjust to a different
rate. People that are approved for
Best Credit Cards for Top Notch
Credit, and have the chance to get an introductory period free of finance charges
should think about this option.
Secured Credit Cards - Customers with one of these
must insert a cash amount into an account specified by the secured card issuer.
This "is why the card is called "" secured"" ." Then, a credit card is
extended to the applicant with a spending limit that is the same as
the amount that has been deposited in the account. Each time you swipe your card your available credit is recalculated, low interest
monthly payments are calculated, and payment plan
is sent. If the card is being used low monthly payments will become due. Secured Credit Cards
are excellent because they perform like
standard credit cards allowing you
to do things that debit cards may not, like making travel accommodations like vehicle rentals
that commonly do not accept standard bank account
cards. Another great feature is that approval is generally
guaranteed regardless of your credit score. This can help in the rebuilding process because many
credit-rebuilding card companies report your payment schedule and how you keep up with your payments
to the credit bureaus. This could be a fantastic
practice to prove you are creditworthy by paying timely
payments no matter if you have Top Notch
credit or not. Once you make
a certain number of consecutive timely payments, some secured card companies will approve a higher limit without
asking for an additional deposit.
Prepaid Credit Cards - With
a Prepaid card, you get out of it exactly what you put in. Just like
a typical bank account, a deposit is made into an account and this becomes
the amount that can be spent. As the prepaid credit card
balance runs out, simply put more cash into the prepaid account and your card will be ready for use once again. Reloadable prepaid cards
work well for staying on a budget, transactions can be tracked and recorded if necessary, and they help people that cannot
obtain a traditional checking account.
Approval is generally granted despite
your credit score and there is
no need for the prepaid card issuer to contact the three bureaus.
With all of the various types
of Best Credit Cards
for Top Notch credit and
bonuses that are offered, it is easy to identify the best solution for your situation. Seek
Best Credit Cards that make sense for your situation that will allow you to control your spending habits. The most important thing is to be sure to
spend within your budget and stay under the limit. Timely payments are important as well. Perfect credit is fantastic
To be certain that you keep cultivating a superb credit score, take heed to these easy directions:
1. Keep your outstanding balance at a percentage of the
credit limit. In other words, do not
"go crazy". Experts agree that consumers should retain
a balance that is generally forty percent
of the max on any
Best Credit Cards for Top Notch Credit.
2. Make payments on or before the due date. Even if a minimum payment is all you can afford to make, that will be just fine. If you miss a payment, it will be posted to the credit reporting agencies. This has adverse affects on the consumer's credit report. Additionally, customers may also experience an increased interest rate as a consequence of a solitary past due payment. Therefore it is wise to be mindful of the due dates.
3. Repay the whole thing off every few months.
When purchases are made, make it your goal to
bring the balance to zero as much as possible. After the bill has been paid down to zero you can feel free to
start swiping your card for purchases again and pay it off once again after over the course of a few billing cycles, and don't stop this habit.
This repayment history illustrates to the issuers
that you will be creditworthy. Once this sequence is repeated a couple of times, you could qualify for
lower rates, higher credit limits, and a better credit profile.
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Best Credit Cards
for Top Notch credit
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