Quick Credit Cards for Great
Credit - Understanding The Choices
If folks have
Credit, how do they
tell which Quick Credit Cards
to pick when there are so many options?
This article will expand on several types
of cards to provide a helpful understanding
of the advantages of each:
Cash Back - With a Cash Back
card, customers get a rebate equal to
a percentage of their transactions. For example,
if somebody is approved for a Cash Back
option that offers five percent cashback
on groceries, gasoline, and drugstore
items, as purchases increase and rewards accumulate, they earn cash value. If you
pay one hundred and fifty dollars in gas, groceries,
and pharmacy items each week, by
the completion of a year, almost $400
in cash would be available.
Rewards Points - Instead
of rewarding customers with cash rebates, some issuers
present customers with redeemable rewards. Customers earn
rewards for making purchases. As purchases are made, the points
add up. Once a specified number of points have accumulated they can be cashed in for all kinds of goodies including
free merchandise, gift items, magazines, and more.
It is smart to be aware of whether or not the Quick Credit Cards
for Great Credit you are considering offers
Gasoline Bonuses - Credit card issuers
can be understanding about the price
of fuel and will give incentives to
people for their purchases by offering them a prepaid
fuel card. As the credit card is utilized, reward points add up. Once a certain number of points are earned you are eligible for a
prepaid fuel card. The cool thing is, with some cards redeemable fuel rewards can be accumulated
while you are gassing up your vehicle.
Points Toward Free Hotel Accommodations, Car Rentals, or Frequent Traveler Miles - When purchases are made with these cards, "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. These programs are great for frequent travelers.
Zero Percent Introductory Rates - In the beginning when these credit cards are utilized, there are no finance charges that are applied.
This time period typically varies from six to twelve months.
Generally, folks are advised to utilize this interest-free period
to move their balance from their high interest Quick Credit Cards
to one like this and pay the balances off within the promotional period. Making monthly payments on time is imperative.
When a single payment is paid late, most
0% APR rates go up to an interest-bearing
rate. Folks that are applying for
Quick Credit Cards for Great
Credit, and have the chance to get an introductory period free of finance charges
should think about this money saving option.
Secured Cards for Building Credit - Individuals with a secured credit card
must deposit a cash amount in an interest-bearing savings account.
This "is why the card is called "" secured"" ." Once the account is set up, a card is
sent with a line of credit equal to
the amount that has been deposited in the account. As the card is used the amount of that transaction is deducted from your available credit balance, affordable
recurrent payments are determined, and a bill
is sent. If transactions are being approved, low monthly payments will become due. Secured Cards for Building Credit
are great because they function the same as
regular credit cards allowing you
to complete all kinds of transactions including booking travel arrangements like rental cars
that sometimes do not take prepaid or debit
cards. For those with bad credit approval is generally
guaranteed even if your credit is poor. However, keep in mind that most
credit-rebuilding card companies submit whether or not the bill is paid on time
to Experian, Equifax, and Trans Union. This can be a terrific
way to establish creditworthiness by making scheduled
payments whether you have Great
credit or not. After making
a certain number of payments on or before their due date, some secured card companies will approve a higher limit without
requiring an additional deposit.
Pre-paid Credit Cards - With
a Pre-paid card, there is no question about the credit limit. Just like
a checking account, a certain amount of money is deposited into an account and this becomes
your spending limit. As the prepaid credit card
balance is used up, it can be reloaded with more money and used again. Reloadable cards
are great for staying on a budget, they allow people to make online purchases, and they are a great solution for those that cannot
obtain a standard bank account.
Quick approval is generally guaranteed regardless of
your credit profile and there is
no need for the prepaid card issuer to contact the credit bureaus.
With all of the diverse kinds
of Quick Credit Cards
for Great credit and
benefits that they have, there is something for everyone. Seek
Quick Credit Cards that make sense for your situation that will allow you to control your spending habits. Stay smart and be sure to
try to keep your purchases at less than half of your credit limit and make more than the minimum payment every month. Good credit is fantastic
To make sure that you keep cultivating a superb FICO score, follow these simple instructions:
1. Always have a balance lower than the
credit max. Simply put, do not
"max out". The banks encourage their cardholders to maintain
a bill that is no more than half
of the limit on any
Quick Credit Cards for Great Credit.
2. Do not default on payments. Even if you cannot make more than the minimum payment due, that's ok. If the bill is paid 30 days after the due date, that information must be sent to the credit bureaus. This is not good for your FICO profile. As a result, you may also have to pay an increased interest rate as a result of a past due payment. Hence it is recommended that consumers pay the bill.
3. Repay the balance in total every time you can.
When the balance gets to be about half of the limit, make it your goal to
take a few months and pay it off as much as possible. When you do this, it is okay to
start using the card again and take a few months to pay the balance off again, and keep utilizing this approach as you complete your monthly budget and annual financial plan.
This sequence demonstrates to the lenders
that you will be creditworthy. Some other perks you could get when you repay in this way are
lower rates, a higher limit, and a higher credit score.
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