Good Credit Cards for Average
Credit - Understanding The Opportunities
If folks have
Credit, how can they
distinguish which Good Credit Cards
to select when there are so many opportunities?
The information below discusses a few varieties
of cards to provide a useful outline
of the advantages of each:
Money Back - With a Money Back
card, you may be offered a rebate equal to
a percentage of their purchases. For instance,
if somebody is approved for a Money Back
solution that awards five percent cashback
on supermarket, gas, and drugstore
purchases, as the rewards accumulate they can be redeemed. If you
spend $150 in gas, groceries,
and pharmacy purchases every 5-7 days, by
the end of a year, about four hundred dollars
in rebates would have accumulated.
Redeemable Points - Instead
of providing cash rebates, some lenders
present customers with redeemable rewards. Customers earn
points when purchases are made. Every time the card is used, the rewards
increase. After a certain amount of points add up they can be cashed in for items including
free travel, gifts, magazines, etc.
Always check to see if the Good Credit Cards
for Average Credit you are considering offers
a points program.
Gasoline Rewards - Card Issuers
are often times sensitive to the cost
of gasoline and will give incentives to
people for using their credit card by giving them a free
fuel card. As purchases are made, points are earned. After a specified amount of points are accumulated they can be cashed in for a
free prepaid gasoline card. The funny thing is, with some cards gas points are actually accumulated even
when making gas purchases.
Rewards for Free Hotel Accommodations, Car Rentals, or Frequent Flyer Miles - When purchases are made with these cards, customers can earn frequent traveler's points that can be redeemed for free travel. As the points add up, they can be redeemed for free travel accommodations. Frequent travelers really like these rewards.
0% APR Promotions - What does this mean? Simply put: for a limited time, finance charges are not incurred.
The promotional period usually varies from six months up to a year.
Generally, customers are advised to utilize this interest-free period
to transfer outstanding balances from their current Good Credit 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. Keeping monthly payments up to date is imperative.
When a payment is received late, typically
the interest free rates go up to an interest-bearing
rate. Customers that are approved for
Good Credit Cards for Average
Credit, and have the chance to get a zero percent promotion
ought to consider this option.
Secured Cards for Rebuilding Credit - Customers with a secured card
simply puts a few hundred to a few thousand dollars, depending on what they could afford, into an account that can earn interest while it is there.
This "is why the card is called "" secured"" ." At that point a credit card is
offered with a spending limit 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 interest
monthly payments are calculated, and payment plan
is is mailed. If the card is being used low monthly payments will become due. Secured Cards for Rebuilding Credit
are perfect because they perform the same as
conventional credit cards allowing customers
the freedom to book travel arrangements including hotels, rental cars, airline tickets, or cruises
that typically do not take consumer checking account
cards. Individuals with bad credit should apply because approval is typically
guaranteed despite your credit profile. This is good because most
credit-rebuilding card companies report whether or not the bill is paid on time
to the credit bureaus. This can be a great
way to show creditworthiness by making timely
payments no matter if you have Average
credit or not. After paying
a certain number of payments on or before their due date, most times the bank that gave you the card will allow you to make purchases over your current limit without
asking for additional collateral.
Pre-paid Credit Cards - With
a Pre-paid card, you get most of the benefits of a credit card without the debt. Similar to
a regular bank account, a certain amount of money is deposited into an account and that becomes
the amount that can be spent. As 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 fantastic for financial planning, purchases can be tracked, and they are a great solution for those that cannot
acquire a normal bank account.
Quick approval is typically not a problem regardless of
your bureau report and there is
no need for the issuer to deal with the three bureaus.
With all of the many types
of Good Credit Cards
for Average credit and
benefits that they have, there is a solution available for most credit card seekers. Consider
Good Credit Cards that offer rewards that match your lifestyle and spending style. The most important thing is to be sure to
spend wisely and pay the bill on or before the due date. Good credit is an awesome
thing to have.
To be certain that you keep developing the best credit report, follow these general instructions:
1. Maintain your outstanding balance at no more than half of the
credit max. In other words, it is not smart to
"max out". It is important to carry
a bill that is somewhere around forty percent
of the available balance on any
Good Credit Cards for Average Credit.
2. Do not make late payments. Even if you have to make just the minimum payment that is listed on your monthly statement, be sure to pay the bill on time. Once a payment is more than 30 days behind, that information will be sent to the credit bureaus. This is bad for your credit score. Not to mention you may also have to pay an increased interest rate as a result of just this one past due payment. Thus it is recommended that consumers pay on time.
3. Pay the entire bill every few months.
When purchases are made, make it your goal to
take a few months and pay it off as many times a year as possible. When you do this, it is okay to
start using the card again and pay it off once again after over the course of a few billing cycles, and make this your repayment pattern.
This repayment history shows the lenders
that you can be an excellent credit candidate. Some of the other benefits of this approach are
low interest rates, more of a limit, and a better FICO score.
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Good Credit Cards
for Average credit
are our specialty. Act now
to apply for a card that fits