Good Credit Cards
for Good Credit - Which
Card to Choose?
If folks have
Credit, how can they
distinguish which Good Credit Cards
to choose when there are so many options?
This article discusses several kinds
of cards to provide a better outline
of the benefits of each:
Money Back - With a Money Back
card, customers are offered a refund equivalent to
a percentage of their purchases. For instance,
if there is a Money Back
option that gives 5% cashback
on food, gasoline, and drugstore
purchases, as the rebates add up they earn cash value. If you
pay $150 in gas, food,
and drugstore purchases every week, at
the completion of a 12-month period, almost $400
in cash back rewards would have accumulated.
Rewards Points - In lieu
of offering cash rebates, some companies
give points programs. Customers receive
rewards for making purchases. With each swipe of the card, the rewards
accumulate. Once a specified number of points have accumulated they can be redeemed for things like
free merchandise, gift cards, subscriptions, and more.
Be sure to find out if the Good Credit Cards
for Good Credit that you want will offer
a points program.
Gas Card Rewards - Card issuers
can be sensitive to the price of
gas and want to compensate their customers
for making card purchases by giving them
a prepaid gasoline card. As the card is
used, points are accumulated. Once enough
points have been earned you are eligible
for a free prepaid gas card. The cool thing
is, with some cards fuel points can be earned
when making fuel purchases.
Points Redeemable for Free Rental
Car Upgrades, Hotel Rooms, or Frequent Flyer
Miles - When purchases are made with
these cards, customers receive "points"
toward free travel including free frequent
flyer miles. As the points add up, they
can be redeemed for free travel accommodations.
These programs are great for frequent travelers.
Zero Percent Promotional Interest Rates - With these cards, finance charges are not accrued for a certain amount of time.
The promotional period typically spans 6-12 months.
Many folks are advised to utilize this promotional period
to move balances from their interest bearing Good Credit Cards
to one like this and pay the balances off within the promotional period. Paying the bill on or before the due date is crucial.
When a single payment is received late, generally
zero percent APR rates adjust to an interest-bearing
rate. Folks that are approved for
Good Credit Cards for Good
Credit, and are offered a zero percent promotion
should choose this card.
Secured Cards to Establish Credit
- People that have one of these simply
deposits a specified amount of cash in a
secure account that accumulates interest.
This "is what makes it a "" secured card""
." At that point a card is extended to the
applicant with a spending limit equal to
the opening balance of the interest bearing
account that was created. Every time you
use it your available credit is recalculated,
affordable monthly payments are determined,
and a monthly invoice is generated. If purchases
are made low monthly payments will become
due. Secured cards to establish credit are
awesome because they perform like normal
credit cards allowing you to complete all
kinds of transactions including booking
travel accommodations including hotels that
typically do not accept prepaid or debit
cards. One of the best things about the
application process is that approval is
typically guaranteed no matter what. But
do not forget that many secured card companies
report your payment schedule and how you
keep up with your payments to the credit
bureaus. This could be a good method to
prove you are creditworthy by paying timely
payments whether you have Good
credit or not. Once you
make several payments in a row, typically
the lender will offer additional spending
power without asking for another deposit
to the initial secured account.
Pre-paid Credit Cards - With
a Pre-paid card, there is no question about the credit limit. Just like
a conventional account, a certain amount of money is deposited into an account and that is
your spending limit. As the prepaid account
balance is used up, simply put more cash into the prepaid account and your card will be ready for use once again. Reloadable prepaid cards
work well for budgeting, purchases can be tracked, and they work well for individuals that are unable to
get a normal depository account.
Fast approval is typically guaranteed regardless of
your credit profile and there is
no need for the prepaid card issuer to contact Experian, Equifax, and TransUnion.
With all of the various kinds
of Good Credit Cards
for Good credit and
benefits that they have, 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 always
stay within your credit limit and make your payments on time every month. Prime credit is fantastic
thing to have.
To guarantee that you keep cultivating a superb credit score, follow these few instructions:
1. Always have your bill at a low percentage
of the credit limit. Another way of
saying it is, do not "go wild".
The banks encourage their cardholders to
retain a bill that is generally forty to
fifty percent of the max on any
Good Credit Cards for Good Credit.
2. Pay the bill on time. Even if a minimum payment is all you can afford to make, be sure to pay the bill on time. Once a payment is more than 30 days behind, that information must be sent to the credit reporting agencies. This could bring down your FICO profile. Unfortunately, customers may also be assessed more points on the card's interest rate as a consequence of a single delayed payment. Therefore it is wise to pay on time.
3. Pay the whole thing off every few billing cycles.
When you make purchases, do your best to
take a few months and pay it off at least one time per year. Subsequently, it is smart to
start swiping your card for purchases again then after a couple of billing cycles, pay the whole thing off just like you did before, and don't stop this habit.
This sequence demonstrates to the issuing companies
that you are creditworthy. Some of the other benefits of this approach are
a lower rate, more of a limit, and a more favorable credit report.
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Good Credit Cards
for Good credit
are just a few clicks away. Act now
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