Smart Credit Cards for Building
Credit - Knowing The Choices
If folks have
Credit, how will they
know which Smart Credit Cards
to pick when there are so many opportunities?
The information below discusses a few kinds
of cards to provide a helpful outline
of the advantages of each:
Money Back - With a Money Back
card, customers are offered a refund that equals
a percentage of their transactions. For example,
if there is a Money Back
offer that awards five percent cash back
on groceries, fuel, and pharmacy
purchases, as the cash back rewards add up they can be redeemed. If you
use one hundred and fifty dollars in fuel, groceries,
and drug store items every 5-7 days, at
the conclusion of a year, almost $400
in cash back rewards would have accumulated.
Rewards Points - In lieu
of giving cash rewards, some issuers
give points programs. Customers earn
rewards for making purchases. As purchases are made, the points
increase. After a certain amount of points add up they can be cashed in for things like
free hotel stays, gifts, subscriptions, etc.
Always check to see if the Smart Credit Cards
for Building Credit that you want will offer
a points program.
Gas Rewards - Lenders
can be considerate of the cost
of gas and will offer an incentive to
people for using their credit card by offering them a prepaid
gas card. As purchases are made, points are earned. Once enough points have been earned you can get a
prepaid gas card. Sometimes, gas points are actually accumulated even
when making fuel purchases.
Points Toward Free Hotel Stays, Rental Cars or Frequent Flyer Miles - When purchases are made with this kind of card, free travel points are earned. After an accumulation of a certain number of points, they turn into vouchers that can be used for discounted or free travel arrangements like rental cars, hotels, or even airline tickets. These programs are great for frequent travelers.
Zero Percent Promotional Interest Rates - Finance charges are not applied on these cards for a specified amount of time.
The promotional period generally varies from 6-12 months.
Generally, customers are advised to utilize this kind of card
to move their balance from their current Smart Credit Cards
to one like this and pay the balances off within the promotional period. Making monthly payments on time is especially crucial.
When just one payment is overdue, most times
the interest free rates go up to an interest-bearing
rate. Customers that are eligible for
Smart Credit Cards for Building
Credit, and have the chance to get a zero percent promotion
ought to consider this great opportunity.
Secured Cards to Build Creditworthiness - Individuals with this type of card
would put a specified amount of cash into an interest-bearing savings account.
This "is what makes it a "" secured card"" ." Once the account is set up, a card is
sent with a credit limit in
the amount that has been deposited in the account. Each time you swipe your card your available credit is recalculated, affordable
monthly payments are calculated, and payment plan
is is mailed or emailed if you choose paperless billing. Just like any other credit card, when you use it an affordable monthly invoice will be sent. Secured Cards to Build Creditworthiness
are perfect because they operate like
ordinary credit cards allowing customers
to complete all kinds of transactions including booking travel arrangements including hotels, rental cars, airline tickets, or cruises
that typically do not accept check
cards. For those with bad credit approval is typically
guaranteed despite your credit profile. This can help in the rebuilding process because many
credit-rebuilding card issuers submit whether or not the bill is paid on time
to the credit bureaus. This is an excellent
approach to show creditworthiness by showing regular
payments whether you have Building
credit or not. After paying
several consecutive timely payments, most times the bank that gave you the card will allow you to make purchases over your current limit without
requiring an additional deposit.
Reloadable Prepaid Credit Cards - With
a Reloadable Prepaid card, there is no guesswork. Similar to
a typical bank account, a certain amount of money is deposited into an account and this becomes
the amount that can be used for purchases. When the prepaid card
balance has been completely used, a deposit into the prepaid account can be made and the new credit limit will be the amount of the new deposit. Prepaid credit cards
are fantastic for staying on a budget, transactions can be tracked and recorded if necessary, and they are generally granted to those that may not qualify to
obtain a standard banking account.
Approval is typically guaranteed regardless of
your bureau profile and there is
no need for the issuer to contact Experian, Equifax, and TransUnion.
With all of the different kinds
of Smart Credit Cards
for Building credit and
rewards that exist, it is easy to identify the best solution for your situation. Look for
Smart Credit Cards that make sense for your situation that will allow you to control your spending habits. Remember these things and always
spend within your budget and stay under the limit. Timely payments are important as well. Superb credit is an awesome
thing to have.
To make sure that you keep cultivating a super credit score, take heed to these general instructions:
1. Always have a balance lower than the
credit limit. Another way of saying it is, do not
"over spend". The banks encourage their cardholders to keep
a bill that is no more than sixty percent or less
of the limit on any
Smart Credit Cards for Building Credit.
2. Make payments on or before the due date. Even if you have to make just the minimum payment that is listed on your monthly statement, that's ok. Once a payment is more than 30 days behind, it will be forwarded to the credit reporting agencies. This has adverse affects on the consumer's credit profile. And let's not forget the fact that you may also experience a rising interest rate as a result of one delayed payment. Therefore it is wise to stay on top of the bill.
3. Repay the whole thing off every couple months.
When purchases are made, try to
take a few months and pay it off as many times a year as possible. Afterward, you can feel free to
make more purchases and after a couple of billing cycles, pay the whole thing off just like you did before, and make this your repayment pattern.
This approach illustrates to the issuing companies
that you can be an excellent credit candidate. Once this sequence is repeated a couple of times, you could qualify for
a lower interest rate, more of a limit, and a higher FICO score.
Our network members are licensed in
one or more of the following locales: Alabama
* Alaska * Arizona * Arkansas * California
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of Columbia * Florida * Georgia * Hawaii
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New Mexico * New York * North Carolina *
North Dakota * Ohio * Oklahoma * Oregon
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* South Dakota * Tennessee * Texas * Utah
* Vermont * Virginia * Washington * West
Virginia * Wisconsin * Wyoming
Smart Credit Cards
for Building credit
are available online. Act now
to get approved for a card that could be the answer to