Recommended Credit Cards for Ok
Credit - Knowing The Opportunities
If people have
Credit, how can they
tell which Recommended Credit Cards
to pick when there are so many options?
This article discusses several kinds
of cards to provide a useful outline
of the benefits of each:
Money Back - With a Money Back
card, customers get a reimbursement equal to
a fraction of their transactions. For example,
if an applicant is approved for a Money Back
solution that gives 5% cashback
on groceries, gas, and pharmacy
purchases, as purchases increase and rewards accumulate, they can be redeemed. If you
spend $150 in fuel, supermarket items,
and drugstore purchases each week, at
the conclusion of a year, $390
in cash back rewards would have accumulated.
Rewards Points - Instead
of rewarding customers with money back, some issuers
give redeemable rewards. Customers earn
rewards for just about every transaction. With each swipe of the card, the rewards
accumulate. When you earn enough points they can be redeemed for all kinds of goodies including
free rental cars, gift items, magazines, and more.
It is important to know whether or not the Recommended Credit Cards
for Ok Credit that you want will offer
a points program.
Petro Rewards - Lenders
are often times sensitive to the cost
of gasoline and want to give incentives to
consumers for making card purchases by rewarding them with a free
fuel card. As purchases are made, points are earned. After you have earned enough points you are eligible for a
prepaid gas card. The funny thing is, with some cards gas rewards can even be earned
while buying fuel.
Rewards for Free Hotel Accommodations, Car Rentals, or Frequent Flyer Miles - When purchases are made with these cards, customers can earn frequent traveler's points that can be redeemed for free travel. 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 rewards work best for those who travel a lot.
Zero Percent Promotions - Customers that utilize these cards are not charged any interest or finance charges for a certain number of months.
The promotional period usually varies from half a year to a whole year.
Generally, customers take advantage of this time
to transfer their balance from their interest bearing Recommended Credit Cards
to one like this and pay it off while there are no finance charges being accrued. Making monthly payments on time is crucial.
When a single payment is late, typically
0% APR rates go up to another
rate. Customers that are eligible for
Recommended Credit Cards for Ok
Credit, and have the opportunity to sign up for a zero percent promotion
should think about this money saving option.
Secured Cards - Individuals with this type of card
must insert a cash amount in a secure account that accumulates interest.
This "is why the card is called "" secured"" ." At that point a credit card is
extended to the applicant with a line of credit equal to
the amount of the deposit. Each time a transaction is approved your available credit is recalculated, affordable
recurrent payments are computed, and a bill
is sent. If transactions are being approved, a relatively small monthly payment is expected. Secured Cards
are awesome because they function like
regular credit cards allowing customers
to do things that debit cards may not, like making travel accommodations like airline tickets
that usually do not take debit
cards. Another great feature is that approval is typically
guaranteed despite your credit profile. It is important to note that most
secured card companies report whether or not the bill is paid on time
to be added to your credit profile. This could be a great
technique to prove you are creditworthy by making regular
payments no matter if you have Ok
credit or not. After paying
several payments on or before their due date, most issuers will increase your credit limit without
asking for more cash to be put into the account that was used to set up the card.
Reloadable Prepaid Credit Cards - With
a Reloadable Prepaid card, there is no guesswork. Just like
a regular bank account, you put money in and that is
the amount that can be spent. When the prepaid account
balance has been completely used, simply put more cash into the prepaid account and your card will be ready for use once again. Prepaid credit cards
work wonderfully as gifts, purchases can be tracked, and they are generally granted to those that may not qualify to
acquire a standard banking account.
Fast approval is generally guaranteed regardless of
your bureau report and there is
no need for the prepaid company to contact the credit bureaus.
With all of the many types
of Recommended Credit Cards
for Ok credit and
benefits that they have, it is easy to identify the best solution for your situation. Seek
Recommended Credit Cards that allow for the most rewards. No matter which card you choose, always
make wise purchases and timely payments. Superb credit is fantastic
To guarantee that you keep building the perfect credit score, follow these general directions:
1. Always have your outstanding balance lower than the
card's limit. In other words, do not
"over spend". Try to carry
a bill that is generally forty to fifty percent
of the limit on any
Recommended Credit Cards for Ok Credit.
2. Do not default on payments. Even if a minimum payment is all you can afford to make, pay it before the due date. Once a payment is more than 30 days behind, that information must be forwarded to the credit reporting agencies. This is not good for the consumer's FICO profile. Not to mention customers may also have to pay a higher interest rate as a consequence of just one delayed payment. Therefore it is smart to be mindful of the due dates.
3. Repay all balances down to zero every couple months.
When you make purchases, try to
pay the balance back down to zero as often as you can. When you do this, you can feel free to
make more purchases and pay it off once again after over the course of a few billing cycles, and keep this pattern going
This approach demonstrates to the issuing companies
that you will be an excellent credit candidate. You could also be rewarded with
a lower rate, a higher credit max, and a more favorable credit report.
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Recommended Credit Cards
for Ok credit
are available online. Act now
to get approved for a card that fits