Business Cards for Awesome
Credit - Knowing The Choices
When folks have
Credit, how do they
know which Business Cards
to pick when there are so many possibilities?
The information below will expand on a few varieties
of cards to give you a better understanding
of the benefits of each:
Cashback - With a Cashback
card, customers are offered a rebate that is the same as
a percentage of their transactions. For example,
if an applicant is approved for a Cashback
option that offers five percent cashback
on supermarket, gas, and pharmacy
purchases, as the rewards accumulate they can be redeemed. If you
use a hundred fifty dollars in gasoline, groceries,
and drug store items weekly, by
the completion of a year, about four hundred dollars
in rebates would be ready to cash out.
Redeemable Points - In lieu
of rewarding customers with money back, some companies
offer redeemable rewards. Customers get
points for making purchases. As purchases are made, the rewards
add up. After a certain amount of points add up they can be redeemed for all kinds of goodies including
free travel, gift cards, subscriptions, and more.
It is wise to see if the Business Cards
for Awesome Credit that you want will offer
a redeemable rewards program.
Fuel Bonuses - Companies
are often times considerate of the cost
of gas and want to compensate
their customers for their purchases by rewarding them with a free
gas card. As purchases are made, points are earned. Once a certain number of points are earned they can be redeemed for a
free prepaid gasoline card. The funny thing is, with some cards gas rewards can even be earned
when buying fuel.
Points Redeemable for Free Rental Car Upgrades, Hotel Rooms, or Frequent Air Traveler Miles - When purchases are made with these cards, points that can be used as free frequent flyer miles or free travel vouchers are earned. Once enough points are accumulated, they can be cashed in exchange for free airline tickets, hotel stays, or rental cars. Business travelers find these kinds of programs to be very beneficial.
0% Introductory Rates - Customers that utilize these cards are not charged any interest or finance charges for a certain number of months.
The promotional period generally varies from half a year to a whole year.
Smart folks take advantage of this time
to shift balances from their high interest Business Cards
to one like this and pay the balances off within the promotional period. Keeping monthly payments up to date is imperative.
When one payment is received late, generally
the introductory rates go up to another
rate. People that are approved for
Business Cards for Awesome
Credit, and have the chance to get a 0% introductory rate
should consider this option.
Secured Cards for Building Credit - Individuals with a secured credit card
simply puts a certain amount of money into an interest-bearing savings account.
This is what secures the account. Once the account is set up, a credit card is
delivered with a line of credit equal to
the amount that has been deposited in the account. Each time you swipe your card the credit limit decreases, low rate
monthly payments are computed, and payment plan
is generated. If purchases are made an affordable repayment plan will be created. Secured Cards for Building Credit
are great because they operate the same as
regular credit cards allowing you
to do things that debit cards may not, like making travel arrangements including airline tickets
that generally do not accept standard bank account
cards. Individuals with bad credit should apply because approval is generally
guaranteed no matter what. But do not forget that most
secured card issuers report your repayment history
to Experian, Equifax, and Trans Union. This is a good
technique to show creditworthiness by showing regular
payments no matter if you have Awesome
credit or not. After making
several consecutive timely payments, most issuers will increase your credit limit without
requiring an additional deposit.
Pre-paid Credit Cards - With
a Pre-paid card, there is no guesswork. Similar to
a checking account, a certain amount of money is deposited into an account and this becomes
the credit limit. As the prepaid account
balance becomes depleted, you can recharge it with an additional deposit. These cards
are terrific as gifts, purchases can be tracked, and they are a great solution for those that cannot
acquire a regular depository account.
Fast approval is typically guaranteed despite
your FICO score and there is
no need for the issuer to send any inquiries to Experian, Equifax, and TransUnion.
With all of the diverse varieties
of Business Cards
for Awesome credit and
rewards that are offered, there is a solution available for most credit card seekers. Seek
Business Cards that give the benefits that fit your situation. Make an educated choice and always
make wise purchases and timely payments. Super credit is a terrific
thing to have.
To make sure that you keep developing a prime credit report, obey these general directions:
1. Keep your outstanding balance lower than the
credit limit. Another way of saying it is, do not
"go wild". Experts agree that consumers should carry
a balance that is generally forty percent
of the limit on any
Business Cards for Awesome 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. When payments are made more than 30 days late, it could be reported to Experian, Equifax, and Trans Union. This is not good for the consumer's credit report. And let's not forget the fact that when this happens you may also have to pay a higher interest rate as a result of just one late payment. Hence it is advised that you pay the bill.
3. Repay all balances down to zero every quarter.
If the card is used a lot, do your best to
bring the balance to zero at least one time per year. Then once your balance is paid off it is wise to
start swiping your card for purchases again then take a few months to pay the balance off again, and keep this cycle going.
This pattern confirms to the issuers
that you will be a great customer. Some other perks you could get when you repay in this way are
low interest rates, more of a limit, and a better FICO score.
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