Recommended Credit Cards for Good
Credit - Knowing The Opportunities
When individuals have
Credit, how will they
distinguish which Recommended Credit Cards
to pick when there are so many opportunities?
This article will discuss a few varieties
of cards to provide a better understanding
of the advantages of each:
Cashback - With a Cashback
card, customers get a repayment equivalent to
a fraction of their transactions. For instance,
if a customer has been approved for a Cashback
option that awards 5% cashback
on groceries, gasoline, and drugstore
items, as the cash back rewards add up they earn cash value. If you
spend a hundred fifty dollars in fuel, food,
and drugstore items every 5-7 days, at
the close of a 12-month period, $390
in cash would be available.
Rewards Points - Instead
of offering money back, some lenders
give redeemable rewards. Customers get
points for making purchases. Every time the card is used, the rewards
increase. Once a specified number of points have accumulated they can be redeemed for all kinds of goodies including
free merchandise, gift cards, magazines, etc.
Be sure to find out if the Recommended Credit Cards
for Good Credit you apply for offers
a redeemable rewards program.
Petro Rewards - Companies
can be understanding about the cost
of gasoline and will give incentives to
people for using their cards by giving them a free
gas card. As transactions are completed, points are accumulated and summarized. After a specified amount of points are accumulated they can be cashed in for a
free prepaid gas card. The cool thing is, with some cards redeemable fuel rewards can be accumulated
when making gas purchases.
Points Toward Free Hotel Accommodations, Car Rentals, or Frequent Air Travel Miles - When purchases are made with this kind of card, "customers receive "" points"" toward free travel including free frequent flyer miles." Once enough points are accumulated, they can be cashed in exchange for free airline tickets, hotel stays, or rental cars. This kind of card is great for business travelers.
0% APR Promotions - Finance charges are not applied on these cards for a specified amount of time.
The promotional period usually varies from 6-12 months.
Many people are advised to utilize promotions such as this
to move balances from their current Recommended Credit Cards
to one of these, then pay it off while there are no finance charges being accrued. Keeping monthly payments up to date is imperative.
When one payment is overdue, typically
zero percent APR rates are changed to a much higher
rate. Individuals that are eligible for
Recommended Credit Cards for Good
Credit, and have the opportunity to sign up for a 0% introductory rate
ought to think about this opportunity.
Secured Credit Cards - Individuals with a secured credit card
simply puts a few hundred to a few thousand dollars, depending on what they could afford, into an account that generates interest that the secured card issuer will set up.
This account serves as the security for the issuer. At that point a credit card is
sent with a credit max equal to
the amount that has been deposited in the account. Each time a transaction is approved the amount of that transaction is deducted from your available credit balance, affordable
monthly payments are computed, and payment plan
is given to you. If purchases are made low monthly payments will become due. Secured Credit Cards
are great because they operate like
conventional credit cards allowing people
to complete all kinds of transactions including booking travel accommodations like airline tickets
that sometimes do not take consumer checking account
cards. Individuals with bad credit should apply because approval is ordinarily
guaranteed whether you have good credit or not. But do not forget that most
secured card companies report your payment schedule and how you keep up with your payments
to be added to your credit profile. This can be a wonderful
technique to show creditworthiness by showing timely
payments no matter if you have Good
credit or not. After making
six to twelve consecutive timely payments, most times the bank that gave you the card will allow you to make purchases over your current limit without
requiring another deposit to the initial secured account.
Reloadable Prepaid Credit Cards - With
a Reloadable Prepaid card, you get most of the benefits of a credit card without the debt. Similar to
a conventional account, a certain amount of money is deposited into an account and this is
the amount that can be spent. When the prepaid credit card
balance has been completely used, you can recharge it with an additional deposit. Reloadable cards
are great as gifts, transactions can be tracked and recorded if necessary, and they work well for individuals that are unable to
obtain a typical checking account.
Fast approval is typically guaranteed regardless of
your FICO profile and there is
no need for the prepaid card issuer to contact the three bureaus.
With all of the diverse types
of Recommended Credit Cards
for Good credit and
incentives that they have, there is something for everyone. Seek
Recommended Credit Cards that make sense for your situation that will allow you to control your spending habits. When you receive your card be sure to
spend within your budget and stay under the limit. Timely payments are important as well. Super credit is fantastic
To be certain that you keep building an awesome credit report, take heed to these general directions:
1. Keep your outstanding balance at a percentage of the
card's max. Another way of saying it is, it is not smart to
"max out". Try to retain
a bill that is somewhere around fifty percent
of the max on any
Recommended Credit Cards for Good Credit.
2. Do not default on payments. Even if a minimum payment is all you can afford to make, pay it. If the bill is paid 30 days after the due date, that information must be posted to the credit bureaus. This is bad for the consumer's credit score. Not to mention when this happens you may also experience a higher interest rate as a result of a single tardy payment. Therefore it is advised that you be mindful of the due dates.
3. Repay all balances down to zero every quarter.
If the card is used a lot, try to
bring the balance to zero at least one time per year. After the bill has been paid down to zero you can feel free to
begin creating transaction activity (like buying gas, shopping online, or making purchases) then pay it off once again after over the course of a few billing cycles, and keep this pattern going
This approach shows the issuers
that you will be an excellent credit candidate. Some other perks you could get when you repay in this way are
lower rates, more of a limit, and a higher credit score.
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Recommended Credit Cards
for Good credit
are our specialty. Act now
to start the application for a solution that suits