Quick Credit Cards for Excellent
Credit - Understanding The Opportunities
If individuals have
Credit, how can they
distinguish which Quick Credit Cards
to choose when there are so many opportunities?
The information below will discuss a couple types
of cards to give you a better understanding
of the pros of each:
Cashback - With a Cashback
card, customers are offered a repayment that is the same as
a percentage of their transactions. For example,
if there is a Cashback
solution that offers five percent cash back
on food, gasoline, and pharmacy
items, as purchases increase and rewards accumulate, they earn cash value. If you
spend a hundred fifty dollars in fuel, food,
and drug store items weekly, by
the completion of a 12-month period, almost $400
in cash would be available.
Rewards Points - Instead
of providing cash rewards, some issuers
offer redeemable rewards. Customers get
rewards when purchases are made. As purchases are made, the points
increase. After a certain amount of points add up they can be cashed in for perks like
free rental cars, gifts, magazines, etc.
It is important to know whether or not the Quick Credit Cards
for Excellent Credit you are considering offers
a redeemable rewards program.
Gasoline Rewards - Card Issuers
are often times considerate of the price
of gas and want to give incentives to
their customers for using their cards by rewarding them with a prepaid
gas card. As the card is used, points are accumulated. Once you have completed enough transactions to accumulate a certain amount of points you can get a
prepaid gas station card. Sometimes, gas points are actually accumulated even
when buying gas.
Points for Free Hotel Stays, Rental Cars or Frequent Air Travel Miles - When purchases are made with this kind of card, customers can earn frequent traveler's points that can be redeemed for free travel. Once a certain number of points have been accumulated, they turn into vouchers that can be used for discounted or free travel arrangements like rental cars, hotels, or even airline tickets. This kind of card is great for business travelers.
0% Introductory Interest Rates - Finance charges are not applied on these cards for a specified amount of time.
The promotional period generally lasts anywhere from six to twelve months.
Typically, people use promotions such as this
to shift their balance from their current Quick 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 monthly payments on time is imperative.
When the first payment is paid late, most
the introductory rates are changed to a different
rate. People that are applying for
Quick Credit Cards for Excellent
Credit, and are offered an interest free period
should choose this card.
Secured Cards to Establish Credit - People with this type of card
simply puts money in an account that generates interest that the secured card issuer will set up.
This "is why the card is called "" secured"" ." At that point a credit card is
offered with a spending limit that is the same as
the opening balance of the interest bearing account that was created. As the card is used your available credit is recalculated, low rate
regularly scheduled payments are determined, and payment plan
is is mailed. If transactions are being approved, low monthly payments will become due. Secured Cards to Establish Credit
are good because they function the same as
normal credit cards allowing you
to do things that debit cards may not, like making travel arrangements including airline tickets
that generally do not take consumer checking account
cards. However, just like prepaid cards approval is usually
guaranteed despite your credit profile. But do not forget that many
secured card issuers submit your payment schedule and how you keep up with your payments
to be added to your credit profile. This could be a good
technique to establish creditworthiness by paying scheduled
payments whether you have Excellent
credit or not. Once you make
several payments on or before their due date, many times the limit can be increased without
requiring another deposit to the initial secured account.
Prepaid Credit Cards - With
a Prepaid card, there is no guesswork. Similar to
a checking account, a deposit is made into an account and that becomes
the credit limit. After 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. Prepaid cards
are fantastic for budgeting, they allow people to make online purchases, and they work well for individuals that are unable to
acquire a conventional checking account.
Fast approval is typically guaranteed despite
your credit profile and there is
no need for the bank that issues the prepaid cards to contact the three bureaus.
With all of the diverse types
of Quick Credit Cards
for Excellent credit and
incentives that are offered, there is a solution available for most credit card seekers. Seek
Quick Credit Cards that give the benefits that fit your situation. Make an educated choice and be sure to
spend within your budget and stay under the limit. Timely payments are important as well. Super credit is a great
thing to have.
To make sure that you keep growing a prime FICO report, follow these general tips:
1. Keep your outstanding balance at no more than half of the
credit max. Another way of saying it is, it is not smart to
"max out". Try to maintain
a bill that is no more than forty to fifty percent
of the maximum spending limit on any
Quick Credit Cards for Excellent Credit.
2. Keep the credit card bill paid on time. Even if the minimum is the most that your budget will allow, pay it before the due date. If the bill is paid 30 days after the due date, that information may be forwarded to Experian, Equifax, and Trans Union. This could bring down your FICO profile. As a result, you may also have an increased interest rate as a consequence of a single tardy payment. Hence it is advised that you be mindful of the due dates.
3. Repay the balance completely every quarter.
When the balance gets to be about half of the limit, make it your goal to
bring the balance to zero as often as you can. After completing this, it is smart to
start swiping your card for purchases again and pay it off once again after over the course of a few billing cycles, and keep this cycle going.
This approach illustrates to the issuers
that you will be creditworthy. Some of the other benefits of this approach are
a lower interest rate, a higher limit, and a better credit profile.
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