Credit Cards for Perfect
Credit - Knowing The Opportunities
If folks have
Credit, how can they
tell which Credit Cards
to select when there are so many choices?
The information below will break down a couple varieties
of cards to provide a helpful understanding
of the advantages of each:
Money Back - With a Money Back
card, customers get a repayment equal to
a percentage of their purchases. For instance,
if there is a Money Back
offer that provides five percent cash back
on groceries, fuel, and pharmacy
purchases, as the rebates add up they can converted to cash. If you
use a hundred fifty dollars in fuel, supermarket items,
and drugstore purchases every 5-7 days, at
the completion of a year, about four hundred dollars
in rebates would be available.
Rewards Points - In lieu
of rewarding customers with cash back, some issuers
present customers with points programs. Customers receive
rewards for just about every transaction. With each swipe of the card, the rewards
increase. When you earn enough points they can be redeemed for items including
free hotel stays, gift cards, magazines, and so on.
It is wise to see if the Credit Cards
for Perfect Credit that you want will offer
a redeemable rewards program.
Gasoline Bonuses - Companies
can be understanding about the price
of gas and want to offer an incentive to
consumers for using their cards by rewarding them with a free
gasoline card. As transactions are completed, points are accumulated and summarized. Once enough points have been earned you can get a
free prepaid gas card. The cool thing is, with some cards redeemable fuel rewards can be accumulated
while buying fuel.
Reward Points Toward Free Hotel Accommodations, Car Rentals, or Frequent Air Traveler Miles - When purchases are made with these cards, customers can earn frequent traveler's points that can be redeemed for free travel. Once a certain number of points have been accumulated, they can be redeemed for free travel accommodations. This kind of card is great for business travelers.
Zero Percent Introductory Interest Rates - Customers that utilize these cards are not charged any interest or finance charges for a certain number of months.
This time period usually lasts anywhere from half a year to a whole year.
Smart customers use this kind of card
to shift balances from their interest bearing Credit 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. Making timely payments is very important.
When a payment is not paid on time, most
the interest free introductory rates adjust to a much higher
rate. Folks that are offered
Credit Cards for Perfect
Credit, and have the opportunity to sign up for an interest free period
ought to think about this card.
Secured Credit Cards - Customers that have one of these
must deposit money in a savings account.
This "is what makes it a "" secured card"" ." At that point 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
regularly scheduled payments are determined, and a bill
is is mailed or emailed if you choose paperless billing. Just like any other credit card, when you use it an affordable repayment plan will be created. Secured Credit Cards
are perfect because they operate like
standard credit cards allowing you
to complete all kinds of transactions including booking travel arrangements such as vehicle rentals
that usually do not take standard bank account
cards. Another great feature is that approval is usually
guaranteed no matter what. However, keep in mind that most
credit-rebuilding card issuers report the way you pay your bill
to the credit bureaus. This could be an excellent
approach to prove you are creditworthy by showing timely
payments no matter if you have Perfect
credit or not. After making
a certain number of payments on or before their due date, 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, purchases can be made without interest, fees, or finance charges. Just like
a conventional account, a certain amount of money is deposited into an account and this is
your spending limit. After the prepaid account
balance has been completely used, simply put more cash into the prepaid account and your card will be ready for use once again. Reloadable prepaid credit cards
are great for students, transactions can be tracked and recorded if necessary, and they help people that cannot
obtain a traditional banking account.
Fast approval is usually granted despite
your bureau profile and there is
no need for the prepaid card issuer to send any inquiries to the credit bureaus.
With all of the many varieties
of Credit Cards
for Perfect credit and
benefits that are offered, it is easy to identify the best solution for your situation. Consider
Credit Cards that allow for the most rewards. Once you are approved be sure to
spend wisely and pay the bill on or before the due date. Perfect credit is fantastic
To ensure that you keep building a super FICO score, follow these general tips:
1. Always have your outstanding balance lower than the
card's limit. In other words, do not
"max out". It is smart to carry
a bill that is no more than forty percent
of the limit on any
Credit Cards for Perfect Credit.
2. Do not default on payments. Even if you cannot make more than the minimum payment due, pay it. If you miss a payment, it must be told to the credit reporting agencies. This could bring down the consumer's FICO score. Not to mention when this happens you may also have a rising interest rate as a result of a past due payment. Therefore it is advised that you pay on time.
3. Pay the balance in total every quarter.
If the card is used a lot, try to
bring the balance to zero at least one time per year. After completing this, it is okay to
start swiping your card for purchases again and pay it back down to zero again after a few months, and keep this pattern going
This sequence illustrates to the issuers
that you are an excellent credit candidate. Some other perks you could get when you repay in this way are
a lower interest rate, a higher limit, and a better FICO score.
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