Good Credit Cards for Excellent
Credit - Learning The Choices
If folks have
Credit, how can they
distinguish which Good Credit Cards
to select when there are so many possibilities?
This article will discuss a few varieties
of cards to provide a better understanding
of the pros of each:
Money Back - With a Money Back
card, you may be offered a reimbursement that is the same as
a percentage of their transactions. For example,
if somebody has a Money Back
offer that offers 5% cashback
on groceries, fuel, and pharmacy
purchases, as the rewards accumulate they earn cash value. If you
pay $150 in gas, food,
and pharmacy purchases weekly, by
the conclusion of a 12-month period, about four hundred dollars
in cash back rewards would be available.
Redeemable Points - Instead
of rewarding customers with money back, some issuers
offer redeemable rewards. Customers receive
points for making purchases. As purchases are made, the rewards
add up. After a certain amount of points add up they can be cashed in for perks like
free merchandise, gifts, magazines, and more.
Be sure to find out if the Good Credit Cards
for Excellent Credit you are considering offers
Petro Bonuses - Card Issuers
are often times sensitive to the cost
of fuel and want to reward
consumers for their purchases by giving them a free
fuel card. As the card is used, points are accumulated. After you have earned enough points they can be redeemed for a
prepaid gasoline card. Sometimes, gas points are actually accumulated even
while making gas purchases.
Reward Points Toward Free Hotel Stays, Rental Cars or Frequent Flyer Miles - When purchases are made with this kind of card, points that can be used as free frequent flyer miles or free travel vouchers are earned. Once a specified number of points are earned, they can be redeemed for free travel accommodations. Frequent travelers really like these rewards.
0% APR Promotions - With these cards, finance charges are not accrued for a certain amount of time.
The promotional period typically spans six to twelve months.
Typically, folks use this promotional period
to transfer outstanding balances from their high interest Good Credit Cards
to one of these, then 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 the first payment is not received on time, most
zero percent APR rates adjust to a much higher
rate. Individuals that are offered
Good Credit Cards for Excellent
Credit, and have the chance to get an interest free period
should think about this opportunity.
Secured Cards for Building Credit - Individuals with this type of card
would insert a cash amount in an account that can earn interest while it is there.
This "is what makes it a "" secured card"" ." Once the account is set up, a card is
sent with a credit max equal to
the amount of the deposit. Each time you swipe your card your available credit is recalculated, low interest
recurrent payments are calculated, and a monthly invoice
is is mailed. If the card is active low monthly payments will become due. Secured Cards for Building Credit
are terrific because they operate the same as
ordinary credit cards allowing customers
to do things that debit cards may not, like making travel accommodations including airline tickets
that generally do not take debit
cards. Another great feature is that approval is ordinarily
guaranteed despite your credit profile. This can help in the rebuilding process because many
credit-rebuilding card issuers report your payment schedule and how you keep up with your payments
to the credit bureaus. This can be an excellent
way to establish creditworthiness by showing scheduled
payments no matter if you have Excellent
credit or not. After making
several payments on or before their due date, most issuers will increase your credit limit without
requiring additional collateral.
Prepaid Credit Cards - With
a Prepaid card, you get out of it exactly what you put in. Just like
a checking account, a deposit is made into an account and that becomes
your spending limit. When the prepaid account
balance runs out, you can recharge it with an additional deposit. Reloadable prepaid cards
are good for students, purchases can be tracked, and they are generally granted to those that may not qualify to
get a typical checking account.
Fast approval is generally guaranteed regardless of
your bureau profile and there is
no need for the prepaid company to deal with the credit bureaus.
With all of the diverse varieties
of Good Credit Cards
for Excellent credit and
bonuses that each of them offer, there is a solution available for most credit card seekers. Look for
Good Credit Cards that give the benefits that fit your situation. The most important thing is to 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. Good credit is a great
thing to have.
To make sure that you keep developing the perfect FICO report, obey these three tips:
1. Maintain your bill less than the
credit limit. In other words, don't
"go wild". Always maintain
a bill that is generally half
of the max on any
Good Credit Cards for Excellent Credit.
2. It is important to pay the bill when it is due. Even if a minimum payment is all you can afford to make, that's ok. If the bill is paid 30 days after the due date, that information will be sent to the credit reporting companies. This is not good for your credit profile. Unfortunately, you may also have to pay a rising interest rate as a consequence of just one delayed payment. Therefore it is wise to pay the bill.
3. Pay the balance in total every so often.
When you make purchases, make it your goal to
take a few months and pay it off at least one time per year. When you do this, it is wise to
begin creating transaction activity (like buying gas, shopping online, or making purchases) then take a few months to pay the balance off again, and make this your repayment pattern.
This process illustrates to the issuers
that you can be a great customer. Most lenders reward customers like this with
a lower rate, higher credit limits, and a higher credit score.
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