Credit Cards for Prime
Credit - Knowing The Opportunities
If people have
Credit, how will they
distinguish which Credit Cards
to select when there are so many options?
This article discusses a couple kinds
of cards to offer a useful understanding
of the advantages of each:
Money Back - With a Money Back
card, customers are rewarded with a reimbursement equivalent to
a fraction of their purchases. For example,
if somebody has a Money Back
offer that gives 5% cash back
on supermarket, fuel, and drugstore
items, as the rewards accumulate they can be redeemed. If you
spend $150 in gas, supermarket items,
and pharmacy items every 5-7 days, by
the completion of a 12-month period, $390
in cash back rewards would be ready to cash out.
Rewards Points - Instead
of offering cash rewards, some lenders
offer redeemable rewards. Customers receive
points when purchases are made. With each swipe of the card, the rewards
add up. Once a specified number of points have accumulated they can be redeemed for items including
free merchandise, gifts, subscriptions, etc.
It is important to know whether or not the Credit Cards
for Prime Credit that you want will offer
a redeemable rewards program.
Gasoline Bonuses - Companies
are often times sensitive to the price
of gas and will reward
consumers for using their credit card by rewarding them with a free
gas card. As purchases are made, points are earned. After you have earned enough points they can be cashed in for a
prepaid gas station card. The cool thing is, with some cards redeemable fuel rewards can be accumulated
when making fuel purchases.
Points Toward Free Hotel Accommodations, Car Rentals, or Frequent Air Traveler Miles - When purchases are made with this kind of card, "customers receive "" points"" toward free travel including free frequent flyer miles." Once a specified number of points are earned, they can be redeemed for free travel accommodations. This kind of card is great for business travelers.
Zero Percent Promotional Interest Rates - What does this mean? Simply put: for a limited time, finance charges are not incurred.
This time period typically lasts anywhere from half a year to a whole year.
Smart folks take advantage of this promotional period
to move their balance from their interest bearing Credit Cards
to one of these, then pay the balances off within the promotional period. Making monthly payments on time is extremely important.
When the first payment is not paid on time, generally
zero percent APR rates are changed to a much higher
rate. Individuals that are approved for
Credit Cards for Prime
Credit, and have the opportunity to sign up for an introductory period free of finance charges
should choose this card.
Secured Cards to Re-establish Credit - Individuals with one of these
would put a cash amount in a secure account that accumulates interest.
This becomes the card's collateral At that point a card is
sent with a credit limit that is the same as
the amount of the deposit. Every time you use it your available credit is recalculated, low rate
regularly scheduled payments are computed, and payment plan
is given to you. If the card is active an affordable repayment plan will be created. Secured Cards to Re-establish Credit
are terrific because they function the same as
regular credit cards allowing people
to complete all kinds of transactions including booking travel accommodations including rental cars
that typically do not accept prepaid or debit
cards. Individuals with bad credit should apply because approval is usually
guaranteed regardless of your credit score. This can help in the rebuilding process because most
credit-rebuilding card companies submit whether or not timely payments are made
to the credit bureaus. This can be a great
way to establish creditworthiness by paying scheduled
payments no matter if you have Prime
credit or not. After making
several consecutive timely payments, some secured card companies will approve a higher limit without
requiring 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 typical bank account, you put money in and this is
the amount that can be used for purchases. When the prepaid card
balance has been completely used, a deposit into the prepaid account can be made and the new credit limit will be the amount of the new deposit. Prepaid credit cards
are excellent for students, they make it so you don't have to carry cash all the time, and they work well for individuals that are unable to
get a typical banking account.
Approval is normally granted despite
your bureau report and there is
no need for the bank that issues the prepaid cards to deal with the credit bureaus.
With all of the different sorts
of Credit Cards
for Prime credit and
rewards that are available, there is a solution available for most credit card seekers. Look for
Credit Cards that make sense for your situation that will allow you to control your spending habits. Make an educated choice and be sure to
try to keep your purchases at less than half of your credit limit and make more than the minimum payment every month. Perfect credit is a terrific
thing to have.
To guarantee that you keep developing the best credit profile, follow these three rules:
1. Keep your outstanding balance at no more than half of the
card's max. In other words, do not
"go crazy". Experts agree that consumers should maintain
a balance that is no more than forty to fifty percent
of the limit on any
Credit Cards for Prime Credit.
2. Pay your credit card bill on time every month. Even if you have to make just the minimum payment that is listed on your monthly statement, that will be just fine. If the bill is paid 30 days after the due date, it may be sent to the credit reporting companies. This is not good for your credit score. Additionally, you may also be assessed more points on the card's interest rate as a result of a single delayed payment. Therefore it is recommended that consumers make payments.
3. Pay all balances down to zero every time your finances will allow.
When the balance gets to be about half of the limit, make it your goal to
pay the balance back down to zero as much as possible. After completing this, you can feel free to
begin creating transaction activity (like buying gas, shopping online, or making purchases) and pay it off once again after over the course of a few billing cycles, and make this your repayment pattern.
This repayment history confirms to the issuing companies
that you can be an excellent credit candidate. Some of the other benefits of this approach are
low interest rates, a higher credit max, and a better credit profile.
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for Prime credit
are available online. Act now
to start the application for a solution that suits