Popular Credit Cards for Excellent
Credit - Knowing The Choices
When people have
Credit, how can they
tell which Popular Credit Cards
to pick when there are so many opportunities?
This article will discuss several varieties
of cards to give you a better understanding
of the pros of each:
Money Back - With a Money Back
card, customers get a rebate equivalent to
a fraction of their transactions. For instance,
if a customer has been approved for a Money Back
offer that awards 5% cash back
on groceries, fuel, and pharmacy
purchases, as the cash back rewards add up they can be redeemed. If you
use a hundred fifty dollars in petro, supermarket items,
and pharmacy purchases weekly, by
the end of a 12-month period, $390
in rebates would be ready to cash out.
Rewards Points - In lieu
of offering money back, some issuers
present customers with redeemable rewards. Customers earn
points when purchases are made. With each swipe of the card, the points
accumulate. Once a specified number of points have accumulated they can be redeemed for all kinds of goodies including
free rental cars, gifts, subscriptions, etc.
It is wise to see if the Popular Credit Cards
for Excellent Credit that you want will offer
a points program.
Petro Rewards - Card Issuers
are often times considerate of the cost
of fuel and will compensate
their customers for using their cards by giving them a prepaid
gas card. As the credit card is utilized, reward points add up. Once you have completed enough transactions to accumulate a certain amount of points they can be cashed in for a
free prepaid gas card. Sometimes, fuel points can be earned
when you are getting gas.
Points Toward Free Rental Car Upgrades, Hotel Rooms, or Frequent Flyer Miles - When these cards are used, "customers receive "" points"" toward free travel including free frequent flyer miles." Once a specified number of points are earned, they can be applied toward all kinds of travel arrangements including free air travel. Frequent travelers really like these rewards.
0% Promotions - Finance charges are not applied on these cards for a specified amount of time.
This time period usually lasts anywhere from six months up to a year.
Many customers take advantage of this time
to move outstanding balances from their high interest Popular 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 key.
When just one payment is paid late, typically
the interest free introductory rates go up to another
rate. Folks that are approved for
Popular Credit Cards for Excellent
Credit, and have the opportunity to sign up for a 0% promotion
ought to choose this option.
Secured Credit Cards - People that have a secured credit card
must insert money into an account that generates interest that the secured card issuer will set up.
This account serves as the security for the issuer. Then, a credit card is
delivered with a credit limit equal to
the amount that has been deposited in the account. Every time you use it your available credit is recalculated, affordable
recurrent payments are calculated, and a bill
is is mailed. If the card is active a relatively small monthly payment is expected. Secured Credit Cards
are awesome because they function like
conventional credit cards allowing you
the freedom to book travel accommodations including airline tickets
that sometimes do not accept debit
cards. One of the best things about the application process is that approval is usually
guaranteed regardless of your credit score. However, keep in mind that most
secured card companies report whether or not you are keeping up with your payments
to Experian, Equifax, and Trans Union. This is a good
approach to prove you are creditworthy by paying regular
payments whether you have Excellent
credit or not. Once you make
six to twelve payments in a row, typically the lender will offer additional spending power without
asking for additional collateral.
Reloadable Prepaid Credit Cards - With
a Reloadable Prepaid card, purchases can be made without interest, fees, or finance charges. Similar to
a checking account, a deposit is made into an account and this becomes
the credit limit. As 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. Reloadable prepaid credit cards
work wonderfully for parents to use to give an allowance to their teen or college student, they allow people to make online purchases, and they help people that cannot
get a normal depository account.
Approval is usually not a problem regardless of
your credit score and there is
no need for the prepaid company to deal with the three bureaus.
With all of the many varieties
of Popular Credit Cards
for Excellent credit and
incentives that are offered, it is easy to identify the best solution for your situation. Seek
Popular Credit Cards that offer rewards that match your lifestyle and spending style. Once you are approved always
spend wisely and pay the bill on or before the due date. Excellent credit is fantastic
To make sure that you keep building a prime credit profile, take heed to these general instructions:
1. Maintain your outstanding balance at a percentage of the
card's max. Another way of saying it is, do not
"over spend". Always carry
an account that is about fifty percent
of the maximum spending limit on any
Popular Credit Cards for Excellent Credit.
2. Make the monthly payments by the due date. Even if the minimum is the most that your budget will allow, pay it. When payments are made more than 30 days late, that information may be told to Experian, Equifax, and Trans Union. This has adverse affects on the consumer's credit report. Not to mention you may also experience a higher interest rate as a consequence of one delayed payment. Thus it is recommended that consumers pay on time.
3. Pay the balance in total every time you can.
When the balance gets to be about half of the limit, do your best to
pay it all off as many times a year as possible. When you do this, 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 keep this pattern going
This approach confirms to the lenders
that you are an excellent credit candidate. You could also be rewarded with
a lower rate, higher credit limits, and a more favorable credit report.
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Popular Credit Cards
for Excellent credit
are waiting for your application. Act now
to start the application for a solution that could be the answer to