Business Cards for Okay
Credit - Knowing The Possibilities
When people have
Credit, how will they
know which Business Cards
to choose when there are so many options?
This article will break down a couple types
of cards to give you a helpful outline
of the pros of each:
Money Back - With a Money Back
card, customers are rewarded with a refund that equals
a fraction of their purchases. For example,
if a customer has been approved for a Money Back
offer that offers five percent cash back
on supermarket, fuel, and pharmacy
items, as the cash back rewards add up they earn cash value. If you
spend $150 in fuel, supermarket items,
and pharmacy purchases every 5-7 days, by
the close of a year, almost $400
in rebates would be ready to cash out.
Redeemable Points - Instead
of providing cash rewards, some issuers
give points programs. Customers receive
points for just about every transaction. With each swipe of the card, the rewards
accumulate. After a certain amount of points add up they can be cashed in for perks like
free merchandise, gifts, subscriptions, and more.
It is important to know whether or not the Business Cards
for Okay Credit that you want will offer
Fuel Bonuses - Card Issuers
can be sensitive to the price
of fuel and want to give incentives to
their customers for their purchases by giving them a prepaid
fuel card. As purchases are made, points are earned. After a specified amount of points are accumulated they can be redeemed for a
prepaid fuel card. The funny thing is, with some cards fuel points can be earned
when you are gassing up your vehicle.
Points Redeemable for Free Hotel Accommodations, Car Rentals, or Frequent Flyer Miles - When this kind of card is utilized, customers can earn frequent traveler's points that can be redeemed for free travel. As the points add up, 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.
Zero Percent APR Promotions - In the beginning when these credit cards are utilized, there are no finance charges that are applied.
The promotional period usually lasts anywhere from six to twelve months.
Most times, customers use this time
to move balances from their current Business 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 very important.
When one payment is received late, typically
the interest free rates adjust to a much higher
rate. Customers that are applying for
Business Cards for Okay
Credit, and are offered an interest free period
ought to choose this money saving option.
Secured Cards to Establish Credit - People with this type of card
simply inserts a cash amount into a savings account.
This becomes the card's collateral Once the account is set up, a card is
sent with a spending limit that is the same as
the amount that has been deposited in the account. Every time you use it your available credit is recalculated, low rate
monthly payments are computed, and a bill
is is mailed or emailed if you choose paperless billing. If the card is being used a relatively small monthly payment is expected. Secured Cards to Establish Credit
are great because they operate the same as
ordinary credit cards allowing customers
to do things that debit cards may not, like making travel arrangements including airline tickets
that sometimes do not accept prepaid or debit
cards. Individuals with bad credit should apply because approval is generally
guaranteed regardless of your credit score. But do not forget that most
credit-rebuilding card companies report your payment schedule and how you keep up with your payments
to be added to your credit profile. This can be a wonderful
method to establish creditworthiness by making regular
payments whether you have Okay
credit or not. Once you make
six to twelve consecutive timely payments, some secured card companies will approve a higher limit without
asking for another deposit to the initial secured account.
Prepaid Credit Cards - With
a Prepaid card, there is no question about the credit limit. Similar to
a checking account, a certain amount of money is deposited into an account and that is
the amount that can be used for purchases. When the prepaid account
balance has been completely used, it can be reloaded with more money and used again. Prepaid cards
work well for students, purchases can be tracked, and they are generally granted to those that may not qualify to
get a regular checking account.
Approval is typically not a problem regardless of
your FICO profile and there is
no need for the bank that issues the prepaid cards to send any inquiries to Experian, Equifax, and TransUnion.
With all of the different types
of Business Cards
for Okay credit and
benefits that they have, there is something for everyone. Look for
Business Cards that offer rewards that match your lifestyle and spending style. No matter which card you choose, be sure to
stay within your credit limit and make your payments on time every month. Superb credit is fantastic
To be certain that you keep developing a top notch FICO report, obey these simple directions:
1. Keep a balance at a percentage of the
credit max. In other words, do not
"go wild". Most people with excellent credit make it a point to keep
an account that is somewhere around sixty percent or less
of the limit on any
Business Cards for Okay Credit.
2. Make at least the minimum payment as scheduled. Even if you have to make just the minimum payment that is listed on your monthly statement, that's ok. When payments are made more than 30 days late, that information could be sent to Experian, Equifax, and Trans Union. This negatively affects the consumer's credit report. Unfortunately, customers may also have an increased interest rate as a consequence of a delayed payment. Hence it is recommended that consumers make this bill payment a financial priority.
3. Pay the balance completely every few billing cycles.
When the balance gets to be about half of the limit, do your best to
pay it all off as many times a year as possible. After the bill has been paid down to zero it is okay to
begin creating transaction activity (like buying gas, shopping online, or making purchases) and pay it back down to zero again after a few months, and keep utilizing this approach as you complete your monthly budget and annual financial plan.
This sequence illustrates to the issuing companies
that you can be an excellent credit candidate. Once this sequence is repeated a couple of times, you could qualify for
a lower interest rate, higher credit limits, and a higher FICO score.
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for Okay credit
are easy to find. Act now
to get approved for a card that fits