Business Cards for Top Notch
Credit - Understanding The Choices
When folks have
Credit, how do they
tell which Business Cards
to choose when there are so many options?
This article will break down several varieties
of cards to provide a helpful outline
of the advantages of each:
Money Back - With a Money Back
card, customers get a reimbursement that equals
a fraction of their purchases. For instance,
if an applicant is approved for a Money Back
option that offers 5% cash back
on supermarket, fuel, and pharmacy
items, as the rebates add up they can converted to cash. If you
spend $150 in petro, supermarket items,
and drugstore purchases every week, at
the close of a 12-month period, $390
in cash would be available.
Redeemable Points - Instead
of giving cash rewards, some issuers
offer redeemable rewards. Customers earn
rewards every time the card is used. As purchases are made, the points
add up. After a certain amount of points add up they can be cashed in for items including
free rental cars, gifts, magazines, and so on.
It is wise to see if the Business Cards
for Top Notch Credit you apply for offers
a points program.
Fuel Rewards - Card Issuers
can be considerate of the price
of fuel and want to offer an incentive to
consumers for using their credit card by offering them a prepaid
gasoline card. As transactions are completed, points are accumulated and summarized. After a specified amount of points are accumulated they can be cashed in for a
free prepaid fuel card. The funny thing is, with some cards gas rewards can even be earned
while making gas purchases.
Points for Free Rental Car Upgrades, Hotel Rooms, or Frequent Air Traveler Miles - When these cards are used, 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 for discounted or free airline tickets or travel accommodations. These rewards work best for those who travel a lot.
Zero Percent Introductory Interest Rates - What does this mean? Simply put: for a limited time, finance charges are not incurred.
The period where no finance charges are being applied typically lasts anywhere from 6-12 months.
Typically, folks are advised to utilize this kind of card
to transfer balances from their interest bearing Business Cards
to one like this and create a personal budget that allows them to pay the whole thing off without having to pay any finance charges. Keeping monthly payments up to date is especially crucial.
When a payment is not received on time, typically
zero percent APR rates adjust to a much higher
rate. Customers that are applying for
Business Cards for Top Notch
Credit, and have the opportunity to sign up for a zero percent promotion
should consider this option.
Secured Cards to Build Creditworthiness - Individuals with this type of card
would put a few hundred to a few thousand dollars, depending on what they could afford, in an account that generates interest that the secured card issuer will set up.
This "is why the card is called "" secured"" ." Once the account is set up, a credit card is
delivered with a line of credit equal to
the opening balance of the interest bearing account that was created. As the card is used the amount of that transaction is deducted from your available credit balance, low rate
recurrent payments are determined, and a bill
is is mailed. If transactions are being approved, a relatively small monthly payment is expected. Secured Cards to Build Creditworthiness
are excellent because they function the same as
regular credit cards allowing people
the freedom to book travel accommodations including airline tickets
that generally do not take debit
cards. Another great feature is that approval is typically
guaranteed even if your credit is poor. This can help in the rebuilding process because many
secured card companies report whether or not timely payments are made
to Experian, Equifax, and Trans Union. This can be a fantastic
approach to prove you are creditworthy by showing scheduled
payments whether you have Top Notch
credit or not. Once you make
several payments in a row, typically the lender will offer additional spending power without
asking for more cash to be put into the account that was used to set up the card.
Prepaid Credit Cards - With
a Prepaid card, there is no question about the credit limit. Similar to
a regular bank account, a certain amount of money is deposited into an account and that becomes
the credit limit. When the prepaid account
balance is used up, it can be reloaded with more money and used again. These cards
are terrific for financial planning, purchases can be tracked, and they are generally granted to those that may not qualify to
acquire a standard banking account.
Approval is usually granted despite
your FICO profile and there is
no need for the prepaid company to deal with Experian, Equifax, and TransUnion.
With all of the diverse varieties
of Business Cards
for Top Notch credit and
rewards that are offered, it is easy to identify the best solution for your situation. Seek
Business Cards that offer rewards that match your lifestyle and spending style. Make an educated choice and always
spend within your budget and stay under the limit. Timely payments are important as well. Prime credit is an awesome
thing to have.
To ensure that you keep developing a top notch credit report, obey these three directions:
1. Keep your outstanding balance less than the
card's max. Another way of saying it is, do not
"over spend". Try to retain
an account that is somewhere around forty percent
of the max on any
Business Cards for Top Notch Credit.
2. It is important to pay the bill when it is due. Even if you cannot make more than the minimum payment due, the most important thing is that the payment is made when it is due. If the bill is paid 30 days after the due date, it will be told to the credit bureaus. This could bring down the consumer's credit report. Not to mention customers may also be assessed a higher interest rate as a consequence of a single tardy payment. Hence it is advised that you stay on top of the bill.
3. Repay the balance completely every time your finances will allow.
If the card is used a lot, make it your goal to
take a few months and pay it off as many times a year as possible. Then once your balance is paid off it is okay to
start using the card again then pay it back down to zero again after a few months, and make this your repayment pattern.
This repayment history illustrates to the issuers
that you are creditworthy. Some of the other benefits of this approach are
low rates, a higher limit, and a better credit score.
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are waiting for your application. Act now
to start the application for a card that fits