Good Credit Cards for Average
Credit - Knowing The Choices
When individuals have
Credit, how do they
know which Good Credit Cards
to choose when there are so many options?
The information below will discuss a few varieties
of cards to offer a better understanding
of the benefits of each:
Money Back - With a Money Back
card, customers get a repayment equivalent to
a percentage of their purchases. For example,
if there is a Money Back
option that awards 5% cashback
on groceries, gas, and pharmacy
items, as the rewards accumulate they can converted to cash. If you
use one hundred and fifty dollars in gasoline, supermarket items,
and drugstore items weekly, at
the end of a 12-month period, almost $400
in cash back rewards would be ready to cash out.
Redeemable Points - In lieu
of offering cash back, some companies
offer redeemable rewards. Customers get
points for just about every transaction. As purchases are made, the rewards
add up. When you earn enough points they can be redeemed for all kinds of goodies including
free travel, gift items, magazines, and more.
It is important to know whether or not the Good Credit Cards
for Average Credit that you want will offer
a points program.
Fuel Bonuses - Card Issuers
can be considerate of the cost
of fuel and want to compensate
consumers for making card purchases by rewarding them with a free
fuel card. As the card is used, points are accumulated. Once a certain number of points are earned they can be turned in for a
prepaid gas station card. Sometimes, gas points are actually accumulated even
when buying gas.
Points for Free Rental Car Upgrades, Hotel Rooms, or Frequent Flyer Miles - When purchases are made with this kind of card, customers can earn frequent traveler's points that can be redeemed for free travel. Once a specified number of points are earned, they can be applied toward all kinds of travel arrangements including free air travel. These rewards work best for those who travel a lot.
0% APR Promotions - With these cards, finance charges are not accrued for a certain amount of time.
This time period usually spans 6-12 months.
Many folks take advantage of this time
to shift their balance from their current Good Credit Cards
to one of these, then pay it off while there are no finance charges being accrued. Making timely payments is key.
When just one payment is received late, most
zero percent APR rates go up to an interest-bearing
rate. Customers that are offered
Good Credit Cards for Average
Credit, and have the opportunity to sign up for a zero percent promotion
ought to think about this great opportunity.
Secured Cards for Building Credit - People with this type of card
must deposit a specified amount of cash in an account that generates interest that the secured card issuer will set up.
This is what secures the account. At that point a credit card is
extended to the applicant with a credit limit equal to
the amount that has been deposited in the account. Each time a transaction is approved your available credit is recalculated, low rate
regularly scheduled payments are computed, and payment plan
is generated. If the card is being used an affordable monthly invoice will be sent. Secured Cards for Building Credit
are great because they function the same as
normal credit cards allowing people
to complete all kinds of transactions including booking travel accommodations including rental cars
that generally do not take consumer checking account
cards. However, just like prepaid cards approval is typically
guaranteed regardless of your credit score. This is good because most
secured card companies report your repayment history
to Experian, Equifax, and Trans Union. This can be a remarkable
way to show creditworthiness by showing scheduled
payments no matter if you have Average
credit or not. After making
six to twelve 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
requiring another deposit to the initial secured account.
Pre-paid Credit Cards - With
a Pre-paid card, you get out of it exactly what you put in. Similar to
a conventional account, you put money in and this becomes
the amount that can be spent. When the prepaid credit card
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 cards
work wonderfully for students, they allow people to make online purchases, and they work well for individuals that are unable to
get a traditional checking account.
Fast approval is typically guaranteed regardless of
your FICO profile and there is
no need for the prepaid card issuer to send any inquiries to the credit bureaus.
With all of the different kinds
of Good Credit Cards
for Average credit and
benefits that they have, there is something for everyone. Consider
Good Credit Cards that allow for the most rewards. Remember these things and always
stay within your credit limit and make your payments on time every month. Superb credit is a wonderful
thing to have.
To be certain that you keep building an awesome credit profile, follow these easy guidelines:
1. Keep a balance at a percentage of the
card's max. In other words, do not
"go wild". Most people with excellent credit make it a point to carry
an account that is generally fifty percent
of the max 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. If the bill is paid 30 days after the due date, it must be sent to the credit reporting agencies. This could bring down your credit report. Not to mention customers may also have an increased interest rate as a consequence of one delayed payment. Thus it is recommended that consumers pay the bill.
3. Pay all balances down to zero every few billing cycles.
If the card is used a lot, try to
bring the balance to zero as much as possible. Subsequently, it is okay to
start swiping your card for purchases again then pay it off once again after over the course of a few billing cycles, and keep this pattern going
This repayment history shows the issuing companies
that you will be a great customer. Once this sequence is repeated a couple of times, you could qualify for
a lower rate, higher credit limits, and a better credit score.
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Good Credit Cards
for Average credit
are easy to find. Act now
to apply for a card that could be the answer to