Smart Credit Cards for Awesome
Credit - Understanding The Choices
When people have
Credit, how do they
know which Smart Credit Cards
to select when there are so many options?
The information below will discuss several types
of cards to offer a useful understanding
of the advantages of each:
Money Back - With a Money Back
card, customers are offered a rebate equal to
a percentage of their transactions. For example,
if a customer has been approved for a Money Back
offer that provides 5% cashback
on food, gasoline, and drugstore
items, as the rebates add up they earn cash value. If you
pay a hundred fifty dollars in gasoline, groceries,
and pharmacy items weekly, at
the close of a year, almost $400
in rebates would have accumulated.
Rewards Points - Instead
of rewarding customers with cash rebates, some companies
give redeemable rewards. Customers get
rewards for making purchases. As purchases are made, the rewards
increase. When you earn enough points they can be cashed in for things like
free rental cars, gift cards, magazines, etc.
Always check to see if the Smart Credit Cards
for Awesome Credit you apply for offers
a points program.
Petro Rewards - Card Issuers
are often times sensitive to the price
of gas and want to offer an incentive to
their customers for their purchases by giving them a prepaid
gasoline card. As the credit card is utilized, reward points add up. Once enough points have been earned they can be redeemed for a
prepaid gas station card. The cool thing is, with some cards fuel points can be earned
when buying gas.
Rewards for Free Hotel Stays, Rental Cars or Frequent Air Travel Miles - When purchases are made with this kind of card, points that can be used as free frequent flyer miles or free travel vouchers are earned. Once enough points are accumulated, they can be cashed in exchange for free airline tickets, hotel stays, or rental cars. Frequent travelers really like these rewards.
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 generally spans half a year to a whole year.
Typically, people are advised to utilize this time
to move balances from their interest bearing Smart Credit Cards
to one like this and pay the balances off within the promotional period. Keeping monthly payments up to date is very important.
When one payment becomes past due, most times
zero percent APR rates are changed to a much higher
rate. Folks that are eligible for
Smart Credit Cards for Awesome
Credit, and have the chance to get an interest free period
should consider this money saving option.
Secured Cards for Building Credit - People that have a secured card
must deposit a cash amount in an account that generates interest that the secured card issuer will set up.
This becomes the card's collateral At that point a credit card is
extended to the applicant with a credit max equal to
the amount that has been deposited in the account. Each time you swipe your card the credit limit decreases, affordable
regularly scheduled payments are computed, and a monthly invoice
is sent. If the card is active an affordable monthly invoice will be sent. Secured Cards for Building Credit
are great because they function like
normal credit cards allowing people
to complete all kinds of transactions including booking travel accommodations such as airline tickets
that sometimes do not take standard bank account
cards. For those with bad credit approval is usually
guaranteed no matter what. This is good because most
secured card companies submit whether or not the bill is paid on time
to Experian, Equifax, and Trans Union. This is a remarkable
technique to establish creditworthiness by paying scheduled
payments whether you have Awesome
credit or not. After paying
a certain number of payments on or before their due date, most issuers will increase your credit limit without
requiring an additional deposit.
Pre-paid Credit Cards - With
a Pre-paid card, you get out of it exactly what you put in. Similar to
a conventional account, a deposit is made into an account and that is
your spending limit. After the prepaid account
balance has been completely used, you can recharge it with an additional deposit. Prepaid credit cards
are great for financial planning, transactions can be tracked and recorded if necessary, and they help people that cannot
obtain a conventional bank account.
Approval is generally not a problem despite
your bureau score and there is
no need for the bank that issues the prepaid cards to deal with the credit bureaus.
With all of the many kinds
of Smart Credit Cards
for Awesome credit and
benefits that are offered, there is something for everyone. Look for
Smart Credit Cards that offer rewards that match your lifestyle and spending style. Remember these things and be sure to
spend within your budget and stay under the limit. Timely payments are important as well. Good credit is a terrific
To be certain that you keep growing the best credit report, take heed to these three rules:
1. Always have your outstanding balance at a percentage of the
credit limit. In other words, don't
"max out". Make sure to maintain
a bill that is about half
of the limit on any
Smart Credit Cards for Awesome Credit.
2. Make at least the minimum payment as scheduled. Even if you cannot make more than the minimum payment due, that's ok. If you miss a payment, that information will be forwarded to Experian, Equifax, and Trans Union. This has adverse affects on the consumer's FICO profile. And let's not forget the fact that when this happens you may also be assessed more points on the card's interest rate as a result of something as small as a past due payment. Therefore it is wise to make this bill payment a financial priority.
3. Pay the balance completely every so often.
If the card is used a lot, do your best to
pay it all off at least once a year. After completing this, it is okay to
begin creating transaction activity (like buying gas, shopping online, or making purchases) and take a few months to pay the balance off again, and keep this cycle going.
This pattern confirms to the issuing companies
that you can be a great customer. Some of the other benefits of this approach are
low interest rates, higher credit limits, and a higher FICO score.
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Smart Credit Cards
for Awesome credit
are easy to find. Act now
to start the application for a card that could be the answer to