Popular Credit Cards for Okay
Credit - Learning The Options
When people have
Credit, how can they
know which Popular Credit Cards
to choose when there are so many opportunities?
This article discusses a few kinds
of cards to offer a useful understanding
of the pros of each:
Money Back - With a Money Back
card, customers get a reimbursement that is the same as
a fraction of their purchases. For instance,
if a customer has been approved for a Money Back
option that provides 5% cash back
on groceries, gas, and pharmacy
purchases, as the rewards accumulate they can converted to cash. If you
pay $150 in fuel, food,
and pharmacy purchases every 5-7 days, by
the end of a 12-month period, about four hundred dollars
in rebates would be ready to cash out.
Rewards Points - In lieu
of giving cash rewards, some lenders
give redeemable rewards. Customers get
rewards for making purchases. With each swipe of the card, the points
add up. When you earn enough points they can be redeemed for things like
free hotel stays, gift cards, subscriptions, etc.
Always check to see if the Popular Credit Cards
for Okay Credit you apply for offers
Fuel Bonuses - Lenders
are often times considerate of the price
of gasoline and want to give incentives to
consumers for using their credit card 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 you can get a
prepaid fuel card. The cool thing is, with some cards fuel points can be earned
while buying gas.
Reward Points Toward Free Hotel Stays, Rental Cars or Frequent Air Travel Miles - When this kind of card is utilized, points that can be used as free frequent flyer miles or free travel vouchers are earned. Once a certain number of points have been accumulated, 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% APR Promotions - What does this mean? Simply put: for a limited time, finance charges are not incurred.
The period where no finance charges are being applied typically spans 6-12 months.
Many customers take advantage of this time
to transfer balances from their high interest Popular Credit Cards
to one like this and create a personal budget that allows them to pay the whole thing off without having to pay any finance charges. Making timely payments is extremely important.
When a payment is overdue, generally
zero percent APR rates are changed to a higher
rate. Customers that are approved for
Popular Credit Cards for Okay
Credit, and are offered an interest free period
ought to think about this card.
Secured Credit Cards - Individuals with a secured card
must insert a few hundred to a few thousand dollars, depending on what they could afford, in a savings account.
This "is what makes it a "" secured card"" ." Once the account is set up, a card is
offered with a spending limit that is the same as
the amount that has been deposited in the account. As the card is used the credit limit decreases, low interest
monthly payments are calculated, and a monthly invoice
is sent. If the card is being used low monthly payments will become due. Secured Credit Cards
are awesome because they operate like
standard credit cards allowing you
to complete all kinds of transactions including booking travel accommodations like hotels
that commonly do not accept debit
cards. Another great feature is that approval is usually
guaranteed even if your credit is poor. This can help in the rebuilding process because most
credit-rebuilding card companies submit whether or not timely payments are made
to the credit bureaus. This is a terrific
technique to prove you are creditworthy by making timely
payments whether you have Okay
credit or not. Once you have paid
several payments in a row, some secured card companies will approve a higher limit without
requiring additional collateral.
Pre-paid Credit Cards - With
a Pre-paid card, you get most of the benefits of a credit card without the debt. Similar to
a regular bank account, a certain amount of money is deposited into an account and this is
the amount that can be used for purchases. When the prepaid credit card
balance is used up, a deposit into the prepaid account can be made and the new credit limit will be the amount of the new deposit. Prepaid credit cards
work well for students, they make it so you don't have to carry cash all the time, and they help people that cannot
get a standard checking account.
Quick approval is typically granted despite
your bureau score and there is
no need for the issuer to contact Experian, Equifax, and TransUnion.
With all of the diverse kinds
of Popular Credit Cards
for Okay credit and
incentives that each of them offer, there is a solution available for most credit card seekers. Seek
Popular Credit Cards that make sense for your situation that will allow you to control your spending habits. Remember these things and always
spend wisely and pay the bill on or before the due date. Perfect credit is a terrific
thing to have.
To make sure that you keep developing a prime FICO report, obey these few rules:
1. Always have your outstanding balance at no more than half of the
credit max. Simply put, do not
"go wild". The banks encourage their cardholders to maintain
a balance that is somewhere around forty to fifty percent
of the max on any
Popular Credit Cards for Okay Credit.
2. Do not default on payments. Even if a small payment can be made, make the payment in a timely fashion. If the bill is paid 30 days after the due date, that information could be sent to Experian, Equifax, and Trans Union. This negatively affects your FICO score. And let's not forget the fact that you may also have a higher interest rate as a result of just one delayed payment. Thus it is recommended that consumers make this bill payment a financial priority.
3. Repay all balances down to zero every few months.
When you make purchases, make it your goal to
pay the balance back down to zero at least once a year. Once you do this go ahead and
start swiping your card for purchases again and take a few months to pay the balance off again, and make this your repayment pattern.
This cycle confirms to the issuers
that you can be a great customer. Most lenders reward customers like this with
low rates, a higher limit, and a better credit profile.
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Popular Credit Cards
for Okay credit
are available online. Click here
to apply for a solution that could be the answer to