Popular Credit Cards for Good
Credit - Knowing The Options
If people have
Credit, how can they
know which Popular Credit Cards
to select when there are so many options?
This article will discuss a couple kinds
of cards to provide a better understanding
of the pros of each:
Cashback - With a Cashback
card, you may be offered a rebate equal to
a fraction of their purchases. For instance,
if somebody is approved for a Cashback
solution that gives 5% cashback
on food, fuel, and drugstore
purchases, as the cash back rewards add up they can converted to cash. If you
pay a hundred fifty dollars in gasoline, food,
and drug store items every 5-7 days, by
the completion of a 12-month period, $390
in rebates would be ready to cash out.
Rewards Points - In lieu
of offering cash rebates, some issuers
present customers with points programs. Customers receive
rewards for making purchases. With each swipe of the card, the points
increase. After a certain amount of points add up they can be cashed in for things like
free travel, gifts, magazines, and so on.
It is wise to see if the Popular Credit Cards
for Good Credit that you want will offer
a redeemable rewards program.
Gas Bonuses - Card Issuers
are often times sensitive to the cost
of fuel and will offer an incentive to
people for using their credit card by giving them a free
fuel card. As the card is used, points are accumulated. Once you have completed enough transactions to accumulate a certain amount of points they can be redeemed for a
prepaid gas card. The funny thing is, with some cards fuel points can be earned
while buying fuel.
Points for Free Rental Car Upgrades, Hotel Rooms, or Frequent Air Travel Miles - When purchases are made with this kind of card, free travel points are earned. Once a specified number of points are earned, they turn into vouchers that can be used for discounted or free travel arrangements like rental cars, hotels, or even airline tickets. These rewards work best for those who travel a lot.
0% Promotional Interest Rates - Customers that utilize these cards are not charged any interest or finance charges for a certain number of months.
The promotional period usually lasts anywhere from 6-12 months.
Many folks are advised to utilize this interest-free period
to shift their balance from their current Popular 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 key.
When just one payment is overdue, generally
the interest free introductory rates go up to an interest-bearing
rate. Customers that are applying for
Popular Credit Cards for Good
Credit, and have the opportunity to sign up for an introductory period free of finance charges
should think about this option.
Secured Credit Cards - People that have this type of card
must put a certain amount of money into an account that can earn interest while it is there.
This becomes the card's collateral Then, a credit card is
issued with a spending limit in
the amount of the deposit. When purchases are made your available credit is recalculated, affordable
regularly scheduled payments are determined, and a bill
is is mailed. If the card is being used an affordable monthly invoice will be sent. Secured Credit Cards
are awesome because they perform like
conventional credit cards allowing you
to do things that debit cards may not, like making travel accommodations such as vehicle rentals
that sometimes do not take standard bank account
cards. Individuals with bad credit should apply because approval is usually
guaranteed regardless of your credit score. However, keep in mind that most
secured card companies report your payment schedule and how you keep up with your payments
to Experian, Equifax, and Trans Union. This can be a great
technique to establish creditworthiness by making timely
payments whether you have Good
credit or not. After paying
several payments in a row, some secured card companies will approve a higher limit without
requiring an additional deposit.
Prepaid Credit Cards - With
a Prepaid card, there is no question about the credit limit. Similar to
a conventional account, a certain amount of money is deposited into an account and that is
the amount that can be used for purchases. When the prepaid account
balance runs out, you can recharge it with an additional deposit. Prepaid cards
are excellent for financial planning, transactions can be tracked and recorded if necessary, and they help people that cannot
obtain a regular checking account.
Fast approval is usually not a problem regardless of
your FICO profile and there is
no need for the bank that issues the prepaid cards to send any inquiries to the three bureaus.
With all of the diverse varieties
of Popular Credit Cards
for Good credit and
bonuses that exist, it is easy to identify the best solution for your situation. Look for
Popular Credit Cards that offer rewards that match your lifestyle and spending style. Remember these things and be sure to
spend wisely and pay the bill on or before the due date. Prime credit is a great
To make sure that you keep growing a top notch credit report, take heed to these few guidelines:
1. Keep a balance at a percentage of the
credit max. Another way of saying it is, do not
"max out". It is smart to keep
an account that is somewhere around sixty percent or less
of the max on any
Popular Credit Cards for Good Credit.
2. It is important to pay the bill when it is due. Even if you cannot make more than the minimum payment due, the most important thing is that the payment is made when it is due. If you miss a payment, it will be told to Experian, Equifax, and Trans Union. This is not good for your credit profile. Additionally, customers may also experience a higher interest rate as a consequence of a solitary tardy payment. Therefore it is advised that you be mindful of the due dates.
3. Repay all balances down to zero every time you can.
When you make purchases, make it your goal to
pay it all off as many times a year as possible. When you do this, go ahead and
start using the card again then take a few months to pay the balance off again, and make this your repayment pattern.
This repayment history illustrates to the lenders
that you will be an excellent credit candidate. You could also be rewarded with
a lower rate, an increased credit limit, and a more favorable credit report.
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