Popular Credit Cards for Great
Credit - Understanding The Options
When individuals have
Credit, how do they
know which Popular Credit Cards
to choose when there are so many opportunities?
The information below will discuss a few varieties
of cards to offer a better outline
of the pros of each:
Cashback - With a Cashback
card, you may be offered a rebate that equals
a fraction of their purchases. For example,
if an applicant is approved for a Cashback
option that provides 5% cash back
on groceries, gas, and pharmacy
purchases, as the cash back rewards add up they earn cash value. If you
spend one hundred and fifty dollars in petro, supermarket items,
and pharmacy purchases every week, by
the close of a 12-month period, almost $400
in cash would have accumulated.
Redeemable Points - In lieu
of providing cash rewards, some companies
offer redeemable rewards. Customers receive
points every time the card is used. With each swipe of the card, the points
add up. Once a specified number of points have accumulated they can be redeemed for things like
free travel, gifts, magazines, etc.
Always check to see if the Popular Credit Cards
for Great Credit you are considering offers
a redeemable rewards program.
Petro Rewards - Credit card issuers
can be considerate of the cost
of fuel and want to compensate
consumers for making card purchases by giving them a prepaid
gas card. As the credit card is utilized, reward points add up. After you have earned enough points you are eligible for a
free prepaid gasoline card. The cool thing is, with some cards gas rewards can even be earned
when buying fuel.
Points Toward Free Hotel Stays, Rental Cars or Frequent Flyer Miles - When this kind of card is utilized, "customers receive "" points"" toward free travel including free frequent flyer miles." After an accumulation of a certain number of points, they can be cashed in exchange for free airline tickets, hotel stays, or rental cars. Business travelers find these kinds of programs to be very beneficial.
Zero Percent APR Promotions - In the beginning when these credit cards are utilized, there are no finance charges that are applied.
This time period generally lasts anywhere from 6-12 months.
Many people use this kind of card
to move balances from their current 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. Making timely payments is crucial.
When one payment is overdue, most
the interest free rates adjust to another
rate. Individuals that are applying for
Popular Credit Cards for Great
Credit, and have the chance to get a 0% promotion
ought to think about this option.
Secured Cards - People with this type of card
simply puts a cash amount in a secure account that accumulates interest.
This is what secures the account. Once the account is set up, a card is
delivered with a credit max in
the opening balance of the interest bearing account that was created. Every time you use it the credit limit decreases, low rate
monthly payments are computed, and a monthly invoice
is generated. If the card is being used low monthly payments will become due. Secured Cards
are awesome because they operate the same as
standard credit cards allowing you
to complete all kinds of transactions including booking travel accommodations including airline tickets
that typically do not accept consumer checking account
cards. For those with bad credit approval is typically
guaranteed despite your credit profile. It is important to note that many
credit-rebuilding card issuers report the way you pay your bill
to the credit bureaus. This could be a good
way to prove you are creditworthy by paying regular
payments whether you have Great
credit or not. After making
several consecutive timely payments, typically the lender will offer additional spending power without
requiring an additional deposit.
Reloadable Prepaid Credit Cards - With
a Reloadable Prepaid card, you get out of it exactly what you put in. Similar to
a conventional account, you put money in and that is
the amount that can be used for purchases. As the prepaid credit card
balance reaches zero, a deposit into the prepaid account can be made and the new credit limit will be the amount of the new deposit. Prepaid cards
work well for parents to use to give an allowance to their teen or college student, they allow people to make online purchases, and they are a great solution for those that cannot
acquire a standard bank account.
Approval is typically granted despite
your credit profile and there is
no need for the bank that issues the prepaid cards to deal with the three bureaus.
With all of the diverse kinds
of Popular Credit Cards
for Great credit and
rewards that they have, there is something for everyone. Look for
Popular Credit Cards that make sense for your situation that will allow you to control your spending habits. Once you are approved always
make wise purchases and timely payments. Awesome credit is fantastic
To guarantee that you keep growing a prime credit report, take heed to these general tips:
1. Always have your outstanding balance at a percentage of the
credit limit. Another way of saying it is, don't
"max out". Most people with excellent credit make it a point to retain
a balance that is no more than forty percent
of the limit on any
Popular Credit Cards for Great Credit.
2. Do not default on payments. Even if a minimum payment is all you can afford to make, it is better to make that small payment on time then it is to try and pay more at a later date. If you miss a payment, that information will be told to the credit reporting companies. This is bad for your FICO report. As a result, customers may also have to pay a rising interest rate as a result of something as small as a delayed payment. Hence it is smart to make payments.
3. Repay the balance completely every couple months.
If the card is used a lot, do your best to
bring the balance to zero at least once a year. After completing this, go ahead and
start swiping your card for purchases again then pay it off once again after over the course of a few billing cycles, and don't stop this habit.
This repayment history indicates to the issuing companies
that you are a great customer. Some other perks you could get when you repay in this way are
lower rates, more of a limit, and a better FICO score.
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Popular Credit Cards
for Great credit
are available online. Click here
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