Good Credit Cards for Good
Credit - Learning The Possibilities
If people have
Credit, how can they
know which Good Credit Cards
to pick when there are so many possibilities?
The information below will break down several kinds
of cards to offer a useful outline
of the pros of each:
Cashback - With a Cashback
card, customers are offered a reimbursement equal to
a fraction of their transactions. For instance,
if there is a Cashback
offer that provides 5% cashback
on supermarket, fuel, and drugstore
items, as the rewards accumulate they earn cash value. If you
use $150 in gasoline, food,
and drugstore purchases every 5-7 days, at
the conclusion of a 12-month period, almost $400
in cash back rewards would have accumulated.
Rewards Points - Instead
of giving cash back, some lenders
present customers with redeemable rewards. Customers get
points for just about every transaction. With each swipe of the card, the points
accumulate. When you earn enough points they can be cashed in for all kinds of goodies including
free merchandise, gift cards, magazines, and so on.
Always check to see if the Good Credit Cards
for Good Credit you apply for offers
a points program.
Gas Rewards - Companies
can be considerate of the price
of fuel and will reward
consumers for using their credit card by giving them a free
gasoline 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
free prepaid gas station card. The funny thing is, with some cards fuel points can be earned
while making fuel purchases.
Rewards for Free Hotel Accommodations, Car Rentals, or Frequent Flyer Miles - When purchases are made with this kind of card, free travel points are earned. As the points add up, they can be applied toward all kinds of travel arrangements including free air travel. Business travelers find these kinds of programs to be very beneficial.
Zero Percent Introductory Rates - What does this mean? Simply put: for a limited time, finance charges are not incurred.
This time period generally lasts anywhere from half a year to a whole year.
Many folks use promotions such as this
to shift balances from their high interest 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. Paying the bill on or before the due date is very important.
When just one payment is late, typically
0% APR rates are changed to a much higher
rate. People that are eligible for
Good Credit Cards for Good
Credit, and have the opportunity to sign up for a 0% promotion
ought to think about this opportunity.
Secured Cards for Rebuilding Credit - Customers that have this type of card
would deposit a few hundred to a few thousand dollars, depending on what they could afford, into a secure account that accumulates interest.
This is what secures the account. Once the account is set up, a credit card is
offered with a spending limit that is the same as
the opening balance of the interest bearing account that was created. Every time you use it the credit limit decreases, low rate
recurrent payments are calculated, and a bill
is given to you. If transactions are being approved, an affordable repayment plan will be created. Secured Cards for Rebuilding Credit
are good because they operate like
standard credit cards allowing customers
the freedom to book travel accommodations like airline tickets
that sometimes do not take check
cards. One of the best things about the application process is that approval is generally
guaranteed regardless of your credit score. However, keep in mind that most
secured card companies submit whether or not the bill is paid on time
to the credit bureaus. This is a good
practice to show creditworthiness by making scheduled
payments whether you have Good
credit or not. After paying
several payments on or before their due date, some secured card companies will approve a higher limit without
asking for another deposit to the initial secured account.
Reloadable Prepaid Credit Cards - With
a Reloadable Prepaid card, there is no guesswork. Just like
a regular bank account, a deposit is made into an account and this is
the amount that can be spent. After the prepaid account
balance reaches zero, you can recharge it with an additional deposit. Reloadable prepaid cards
are terrific for students, they allow people to make online purchases, and they are a great solution for those that cannot
obtain a standard checking account.
Fast approval is usually guaranteed regardless of
your credit report and there is
no need for the issuer to send any inquiries to the credit bureaus.
With all of the many sorts
of Good Credit Cards
for Good credit and
rewards 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. When you receive your card always
spend within your budget and stay under the limit. Timely payments are important as well. Excellent credit is fantastic
thing to have.
To make sure that you keep growing a superb FICO profile, take heed to these three rules:
1. Maintain a balance less than the
credit limit. Simply put, it is not smart to
"over spend". It is important to carry
an account that is no more than forty to fifty percent
of the limit on any
Good Credit Cards for Good Credit.
2. Pay your credit card bill on time every month. Even if a minimum payment is all you can afford to make, pay it before the due date. If the bill is paid 30 days after the due date, that information will be told to Experian, Equifax, and Trans Union. This has adverse affects on the consumer's credit profile. Not to mention customers may also be assessed an increased interest rate as a result of a past due payment. Hence it is recommended that consumers pay on time.
3. Repay the balance completely every time your finances will allow.
When the balance gets to be about half of the limit, do your best to
pay it all off at least once a year. Once you do this it is okay to
start swiping your card for purchases again and take a few months to pay the balance off again, and don't stop this habit.
This sequence indicates to the issuing companies
that you will be a great customer. Once this sequence is repeated a couple of times, you could qualify for
lower rates, more of a limit, and a better credit profile.
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Good Credit Cards
for Good credit
are easy to find. Click here
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