Popular Credit Cards for Great
Credit - Knowing The Options
If individuals have
Credit, how do they
tell which Popular Credit Cards
to choose when there are so many options?
This article will expand on a couple varieties
of cards to give you a helpful outline
of the advantages of each:
Cash Back - With a Cash Back
card, customers are offered a reimbursement equivalent to
a percentage of their transactions. For example,
if a customer has been approved for a Cash Back
solution that provides 5% cash back
on supermarket, gasoline, and pharmacy
purchases, as the cash back rewards add up they earn cash value. If you
use $150 in gasoline, groceries,
and pharmacy purchases each week, by
the close of a 12-month period, almost $400
in cash back rewards would be available.
Rewards Points - In lieu
of providing money back, some issuers
present customers with redeemable rewards. Customers get
points for just about every transaction. Every time the card is used, the rewards
increase. After a certain amount of points add up they can be cashed in for great stuff, such as
free merchandise, gifts, magazines, and more.
It is important to know whether or not the Popular Credit Cards
for Great Credit you are considering offers
Petro Bonuses - Card Issuers
can be understanding about the cost
of gasoline and will offer an incentive to
their customers for using their credit card by rewarding them with 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 card. The funny thing is, with some cards fuel points can be earned
when making gas purchases.
Points Redeemable for Free Rental Car Upgrades, Hotel Rooms, or Frequent Traveler Miles - When purchases are made with these cards, customers can earn frequent traveler's points that can be redeemed for free travel. After an accumulation of a certain number of points, they can be cashed in exchange for free airline tickets, hotel stays, or rental cars. These rewards work best for those who travel a lot.
0% Promotional Interest Rates - Finance charges are not applied on these cards for a specified amount of time.
The period where no finance charges are being applied generally lasts anywhere from six to twelve months.
Generally, customers use promotions such as this
to move outstanding balances from their current Popular Credit Cards
to one of these and pay the balances off within the promotional period. Making timely payments is extremely important.
When one payment is paid after the due date, generally
zero percent APR rates go up to a higher
rate. Folks that are offered
Popular Credit Cards for Great
Credit, and are offered a 0% introductory rate
should choose this option.
Secured Cards to Re-establish Credit - People that have one of these
must put money into an account that generates interest that the secured card issuer will set up.
This is what secures the account. After the deposit is made a credit card is
issued with a credit limit in
the opening balance of the interest bearing account that was created. Each time you swipe your card the amount of that transaction is deducted from your available credit balance, low rate
regularly scheduled payments are calculated, and a bill
is is mailed. If the card is active you will receive a payment plan. Secured Cards to Re-establish Credit
are perfect because they operate like
regular credit cards allowing customers
the freedom to book travel arrangements including rental cars
that sometimes do not take standard bank account
cards. For those with bad credit approval is typically
guaranteed regardless of your credit score. This can help in the rebuilding process because most
secured card companies submit the way you pay your bill
to Experian, Equifax, and Trans Union. This could be a fantastic
technique to prove you are creditworthy by paying scheduled
payments whether you have Great
credit or not. After making
six to twelve payments in a row, some secured card companies will approve a higher limit without
asking for additional collateral.
Prepaid Credit Cards - With
a Prepaid card, there is no question about the credit limit. Similar to
a conventional account, a deposit is made into an account and this is
the credit limit. After the prepaid card
balance reaches zero, simply put more cash into the prepaid account and your card will be ready for use once again. Prepaid credit cards
are fantastic for financial planning, they offer the kind of flexibility that debit cards have, and they help people that cannot
acquire a standard depository account.
Quick approval is normally not a problem regardless of
your FICO report and there is
no need for the prepaid company to send any inquiries to Experian, Equifax, and TransUnion.
With all of the different varieties
of Popular Credit Cards
for Great credit and
bonuses that are offered, there is a solution available for most credit card seekers. Consider
Popular Credit Cards that make sense for your situation that will allow you to control your spending habits. Once you are approved always
stay within your credit limit and make your payments on time every month. Top notch credit is an awesome
To guarantee that you keep developing the best FICO report, take heed to these three tips:
1. Maintain a balance less than the
card's limit. Another way of saying it is, do not
"go wild". It is smart to maintain
an account that is somewhere around forty percent
of the available balance on any
Popular Credit Cards for Great Credit.
2. Make the monthly payments by the due date. Even if you cannot make more than the minimum payment due, pay it. When payments are made more than 30 days late, it could be sent to Experian, Equifax, and Trans Union. This is bad for the consumer's credit profile. Additionally, customers may also have to pay more points on the card's interest rate as a consequence of one late payment. Thus it is wise to make this bill payment a financial priority.
3. Pay the balance in total every time your finances will allow.
When you make purchases, try to
pay the balance back down to zero as much as possible. Then once your balance is paid off you can feel free to
start using the card again and take a few months to pay the balance off again, and don't stop this habit.
This pattern illustrates to the issuers
that you are an excellent credit candidate. Most lenders reward customers like this with
lower rates, a higher limit, and a better credit score.
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Popular Credit Cards
for Great credit
are easy to find. Click here
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