Good Credit Cards for Fair
Credit - Learning The Opportunities
When people have
Credit, how can they
know which Good Credit Cards
to select when there are so many possibilities?
This article discusses several types
of cards to offer a useful outline
of the advantages of each:
Money Back - With a Money Back
card, customers are offered a repayment equal to
a percentage of their transactions. For instance,
if somebody is approved for a Money Back
solution that provides five percent cashback
on groceries, gas, and drugstore
items, as the rebates add up they can be redeemed. If you
use $150 in fuel, supermarket items,
and pharmacy items each week, by
the conclusion of a year, almost $400
in cash would be available.
Rewards Points - Instead
of offering cash rebates, some issuers
offer redeemable rewards. Customers receive
points every time the card is used. As purchases are made, the points
accumulate. After a certain amount of points add up they can be cashed in for perks like
free rental cars, gifts, magazines, and so on.
It is smart to be aware of whether or not the Good Credit Cards
for Fair Credit you are considering offers
a points program.
Gas Rewards - Card Issuers
can be understanding about the price
of fuel and want to compensate
their customers for their purchases by giving them a prepaid
fuel card. As transactions are completed, points are accumulated and summarized. After a specified amount of points are accumulated they can be turned in for a
prepaid fuel card. The funny thing is, with some cards gas rewards can even be earned
when making gas purchases.
Points for Free Rental Car Upgrades, Hotel Rooms, or Frequent Traveler Miles - When this kind of card is utilized, redeemable points that can be used for free travel arrangements including airline travel are accumulated. Once a certain number of points have been accumulated, they can be redeemed for free travel accommodations. Business travelers find these kinds of programs to be very beneficial.
0% Introductory Interest Rates - Customers that utilize these cards are not charged any interest or finance charges for a certain number of months.
The period where no finance charges are being applied generally lasts anywhere from six months up to a year.
Most times, customers use promotions such as this
to shift outstanding balances from their interest bearing Good Credit Cards
to one of these and pay the balances off within the promotional period. Keeping monthly payments up to date is especially crucial.
When one payment is late, generally
the interest free introductory rates are changed to a higher
rate. Customers that are applying for
Good Credit Cards for Fair
Credit, and are offered a 0% promotion
should consider this great opportunity.
Secured Cards to Re-establish Credit - Individuals with a secured credit card
simply deposits a certain amount of money in a bank account that can generate interest.
This is what secures the account. Once the account is set up, a card is
delivered with a credit max that is the same as
the amount that has been deposited in the account. As the card is used your available credit is recalculated, low interest
regularly scheduled payments are calculated, and a bill
is sent. Just like any other credit card, when you use it an affordable monthly invoice will be sent. Secured Cards to Re-establish Credit
are great because they perform the same as
normal credit cards allowing you
to complete all kinds of transactions including booking travel arrangements including vehicle rentals
that commonly do not take standard bank account
cards. However, just like prepaid cards approval is usually
guaranteed even if your credit is poor. It is important to note that many
credit-rebuilding card issuers report your payment schedule and how you keep up with your payments
to be added to your credit profile. This could be a good
technique to prove you are creditworthy by making regular
payments no matter if you have Fair
credit or not. After making
several payments in a row, many times the limit can be increased without
requiring another deposit to the initial secured account.
Reloadable Prepaid Credit Cards - With
a Reloadable Prepaid card, there is no guesswork. Similar to
a typical bank account, you put money in and this becomes
the amount that can be used for purchases. After the prepaid card
balance becomes depleted, a deposit into the prepaid account can be made and the new credit limit will be the amount of the new deposit. Prepaid cards
are fantastic for students, they offer the same flexibility as a check card, and they work well for individuals that are unable to
get a regular bank account.
Fast approval is typically granted despite
your credit profile and there is
no need for the prepaid company to contact the credit bureaus.
With all of the many kinds
of Good Credit Cards
for Fair credit and
benefits that they have, there is a solution available for most credit card seekers. Consider
Good Credit Cards that give the benefits that fit your situation. No matter which card you choose, be sure to
make wise purchases and timely payments. Top notch credit is a wonderful
To guarantee that you keep growing a prime FICO report, follow these simple tips:
1. Keep your bill at no more than half of the
card's max. Another way of saying it is, don't
"go wild". Try to carry
a balance that is no more than forty to fifty percent
of the limit on any
Good Credit Cards for Fair Credit.
2. Pay your credit card bill on time every month. Even if a small payment can be made, the most important thing is that the payment is made when it is due. If the bill is paid 30 days after the due date, that information must be forwarded to the credit bureaus. This has adverse affects on your FICO score. Unfortunately, customers may also have to pay an increased interest rate as a result of just one past due payment. Therefore it is wise to be mindful of the due dates.
3. Pay the entire bill every few months.
When the balance gets to be about half of the limit, make it your goal to
take a few months and pay it off at least one time per year. After the bill has been paid down to zero it is okay to
begin creating transaction activity (like buying gas, shopping online, or making purchases) then pay it off once again after over the course of a few billing cycles, and make this your repayment pattern.
This cycle confirms to the issuers
that you can be creditworthy. Some of the other benefits of this approach are
low rates, an increased credit limit, and a better credit profile.
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Good Credit Cards
for Fair credit
are simple to apply for. Click here
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