Smart Credit Cards for Great
Credit - Understanding The Choices
If people have
Credit, how can they
distinguish which Smart Credit Cards
to choose when there are so many choices?
The information below will discuss several kinds
of cards to offer a helpful outline
of the advantages of each:
Cashback - With a Cashback
card, customers are offered a repayment that is the same as
a percentage of their transactions. For example,
if a customer has been approved for a Cashback
offer that offers five percent cashback
on supermarket, gas, and drugstore
items, as purchases increase and rewards accumulate, they can be cashed in. If you
spend one hundred and fifty dollars in petro, food,
and drugstore purchases every 5-7 days, at
the completion of a 12-month period, about four hundred dollars
in cash back rewards would be available.
Redeemable Points - Instead
of giving cash back, some companies
offer points programs. Customers earn
rewards for just about every transaction. As purchases are made, the rewards
add up. When you earn enough points they can be redeemed for perks like
free travel, gift cards, magazines, and more.
It is smart to be aware of whether or not the Smart Credit Cards
for Great Credit you apply for offers
Fuel Rewards - Card Issuers
are often times understanding about the cost
of fuel and want to offer an incentive to
people for using their credit card by rewarding them with a prepaid
gasoline card. As the credit card is utilized, reward points add up. After you have earned enough points you can get a
prepaid gas card. The funny thing is, with some cards gas points are actually accumulated even
while buying gas.
Points for Free Hotel Accommodations, Car Rentals, or Frequent Air Traveler Miles - When purchases are made with these cards, points that can be used as free frequent flyer miles or free travel vouchers are earned. As the points add up, they can be applied toward all kinds of travel arrangements including free air travel. Frequent travelers really like these rewards.
Zero Percent Introductory Interest Rates - With these cards, finance charges are not accrued for a certain amount of time.
The period where no finance charges are being applied generally varies from six to twelve months.
Smart customers are advised to utilize this time
to move balances from their interest bearing Smart Credit Cards
to one of these, then create a personal budget that allows them to pay the whole thing off without having to pay any finance charges. Keeping monthly payments up to date is especially crucial.
When just one payment is not paid on time, most
the interest free rates adjust to a much higher
rate. Individuals that are applying for
Smart Credit Cards for Great
Credit, and are offered an interest free period
ought to consider this opportunity.
Secured Cards to Establish Credit - Customers with a secured card
would insert money into an account specified by the secured card issuer.
This "is why the card is called "" secured"" ." Then, a credit card is
extended to the applicant with a credit limit in
the opening balance of the interest bearing account that was created. When purchases are made the credit limit decreases, low interest
monthly payments are determined, and payment plan
is is mailed. If purchases are made a relatively small monthly payment is expected. Secured Cards to Establish Credit
are excellent because they operate like
conventional credit cards allowing customers
to complete all kinds of transactions including booking travel accommodations including vehicle rentals
that commonly do not take prepaid or debit
cards. However, just like prepaid cards approval is ordinarily
guaranteed no matter what. It is important to note that most
secured card companies report your payment schedule and how you keep up with your payments
to Experian, Equifax, and Trans Union. This can be a good
approach to prove you are creditworthy by showing regular
payments whether you have Great
credit or not. After making
a certain number of payments on or before their due date, typically the lender will offer additional spending power without
requiring another deposit to the initial secured account.
Reloadable Prepaid Credit Cards - With
a Reloadable Prepaid card, purchases can be made without interest, fees, or finance charges. Just like
a typical bank account, a deposit is made into an account and this becomes
the credit limit. As the prepaid account
balance has been completely used, you can recharge it with an additional deposit. Prepaid credit cards
work wonderfully for parents to use to give an allowance to their teen or college student, they offer the same flexibility as a check card, and they help people that cannot
obtain a standard depository account.
Approval is usually guaranteed regardless of
your credit score and there is
no need for the prepaid card issuer to contact the three bureaus.
With all of the various types
of Smart Credit Cards
for Great credit and
benefits that each of them offer, there is a solution available for most credit card seekers. Seek
Smart Credit Cards that offer rewards that match your lifestyle and spending style. The most important thing is to be sure to
try to keep your purchases at less than half of your credit limit and make more than the minimum payment every month. Good credit is a terrific
thing to have.
To make sure that you keep developing a great FICO report, take heed to these three directions:
1. Maintain a balance less than the
card's limit. In other words, do not
"over spend". Experts agree that consumers should retain
a bill that is about fifty percent
of the max on any
Smart Credit Cards for Great Credit.
2. Do not make late payments. Even if you cannot make more than the minimum payment due, that's ok. When payments are made more than 30 days late, that information must be forwarded to the credit bureaus. This is not good for your FICO profile. Additionally, when this happens you may also be assessed an increased interest rate as a consequence of a solitary tardy payment. Hence it is recommended that consumers make payments.
3. Repay the whole thing off every so often.
When purchases are made, make it your goal to
bring the balance to zero as many times a year as possible. After the bill has been paid down to zero it is okay to
make more purchases and take a few months to pay the balance off again, and don't stop this habit.
This approach demonstrates to the issuers
that you are a great customer. You could also be rewarded with
a lower interest rate, a higher limit, and a higher FICO score.
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Smart Credit Cards
for Great credit
are easy to find. Act now
to start the application for a solution that fits