Smart Credit Cards for Awesome
Credit - Learning The Possibilities
When individuals have
Credit, how will they
tell which Smart Credit Cards
to pick when there are so many options?
This article will break down a couple varieties
of cards to provide a better understanding
of the advantages of each:
Money Back - With a Money Back
card, customers get a rebate equal to
a fraction of their purchases. For example,
if a customer has been approved for a Money Back
offer that awards 5% cashback
on groceries, gasoline, and pharmacy
items, as purchases increase and rewards accumulate, they earn cash value. If you
pay $150 in gas, supermarket items,
and drugstore items each week, at
the conclusion of a 12-month period, about four hundred dollars
in cash would be ready to cash out.
Redeemable Points - Instead
of offering cash rewards, some issuers
give redeemable rewards. Customers get
points for making purchases. As purchases are made, the points
accumulate. When you earn enough points they can be cashed in for great stuff, such as
free hotel stays, gifts, subscriptions, and so on.
It is smart to be aware of whether or not the Smart Credit Cards
for Awesome Credit that you want will offer
Gasoline Rewards - Lenders
can be sensitive to the cost
of gasoline and want to give incentives to
consumers for using their cards by offering them a prepaid
gas card. As the credit card is utilized, reward points add up. After you have earned enough points they can be turned in for a
prepaid gas card. Sometimes, gas points are actually accumulated even
when making gas purchases.
Rewards for Free Rental Car Upgrades, Hotel Rooms, or Frequent Traveler Miles - When these cards are used, "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 for discounted or free airline tickets or travel accommodations. Frequent travelers really like these rewards.
Zero Percent Introductory Rates - Finance charges are not applied on these cards for a specified amount of time.
The period where no finance charges are being applied generally varies from 6-12 months.
Most times, folks are advised to utilize this time
to move balances from their high interest Smart Credit Cards
to one of these, then pay it off while there are no finance charges being accrued. Paying the bill on or before the due date is imperative.
When the first payment becomes past due, generally
the introductory rates go up to a higher
rate. Customers that are applying for
Smart Credit Cards for Awesome
Credit, and have the opportunity to sign up for an interest free period
should choose this opportunity.
Secured Cards for Rebuilding Credit - Customers that have this type of card
would insert money into a secure account that accumulates interest.
This "is why the card is called "" secured"" ." Then, a credit card is
delivered with a spending limit that is the same as
the amount that has been deposited in the account. Each time you swipe your card the credit limit decreases, low rate
regularly scheduled payments are determined, and payment plan
is given to you. If the card is being used an affordable repayment plan will be created. Secured Cards for Rebuilding Credit
are good because they perform the same as
standard credit cards allowing you
to complete all kinds of transactions including booking travel arrangements like rental cars
that sometimes do not take standard bank account
cards. When applicants have bad credit approval is typically
guaranteed whether you have good credit or not. This can help in the rebuilding process because many
secured card issuers submit whether or not timely payments are made
to Experian, Equifax, and Trans Union. This could be an excellent
technique to show creditworthiness by paying timely
payments whether you have Awesome
credit or not. After making
several payments on or before their due date, most times the bank that gave you the card will allow you to make purchases over your current limit without
asking for additional collateral.
Pre-paid Credit Cards - With
a Pre-paid card, you get most of the benefits of a credit card without the debt. Just like
a conventional account, a certain amount of money is deposited into an account and that becomes
the amount that can be used for purchases. After the prepaid account
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. Reloadable cards
are good for staying on a budget, they offer the kind of flexibility that debit cards have, and they work well for individuals that are unable to
acquire a normal depository account.
Approval is generally granted regardless of
your bureau score and there is
no need for the bank that issues the prepaid cards to contact Experian, Equifax, and TransUnion.
With all of the different varieties
of Smart Credit Cards
for Awesome credit and
benefits that are available, it is easy to identify the best solution for your situation. Consider
Smart Credit Cards that offer rewards that match your lifestyle and spending style. Make an educated choice and be sure to
stay within your credit limit and make your payments on time every month. Excellent credit is a wonderful
thing to have.
To make certain that you keep building the best FICO score, follow these easy directions:
1. Keep a balance at no more than half of the
credit limit. Another way of saying it is, it is not smart to
"over spend". Most people with excellent credit make it a point to maintain
an account that is about forty to fifty percent
of the available balance on any
Smart Credit Cards for Awesome Credit.
2. It is important to pay the bill when it is due. Even if the minimum is the most that your budget will allow, that will be just fine. If the bill is paid 30 days after the due date, that information may be sent to the credit bureaus. This has adverse affects on the consumer's credit profile. Unfortunately, when this happens you may also experience a higher interest rate as a consequence of just one late payment. Thus it is recommended that consumers stay on top of the bill.
3. Repay all balances down to zero every so often.
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 many times a year as possible. Then once your balance is paid off it is okay to
begin creating transaction activity (like buying gas, shopping online, or making purchases) and pay it back down to zero again after a few months, and keep this pattern going
This sequence shows the lenders
that you are an excellent credit candidate. Once this sequence is repeated a couple of times, you could qualify for
lower rates, higher credit limits, and a higher credit score.
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Smart Credit Cards
for Awesome credit
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