Smart Credit Cards for Perfect
Credit - Understanding The Options
If people have
Credit, how will they
know which Smart Credit Cards
to pick when there are so many options?
This article will expand on a couple varieties
of cards to provide a better understanding
of the advantages of each:
Cash Back - With a Cash Back
card, customers are offered a rebate that equals
a percentage of their transactions. For instance,
if there is a Cash Back
option that provides five percent cash back
on supermarket, gas, and pharmacy
purchases, as purchases increase and rewards accumulate, they can be cashed in. If you
spend $150 in gasoline, groceries,
and drugstore purchases weekly, by
the completion of a year, almost $400
in rebates would have accumulated.
Rewards Points - In lieu
of providing cash rewards, some issuers
present customers with points programs. Customers earn
points for making purchases. As purchases are made, the points
add up. After a certain amount of points add up they can be cashed in for perks like
free rental cars, gift items, magazines, and so on.
It is important to know whether or not the Smart Credit Cards
for Perfect Credit you are considering offers
Fuel Bonuses - Credit card issuers
can be considerate of the cost
of gasoline and want to give incentives to
consumers for using their credit card 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
free prepaid gas station card. The cool thing is, with some cards gas rewards can even be earned
when making fuel purchases.
Points Toward Free Rental Car Upgrades, Hotel Rooms, or Frequent Flyer Miles - When purchases are made with this kind of card, 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 programs are great for frequent travelers.
Zero Percent APR Promotions - What does this mean? Simply put: for a limited time, finance charges are not incurred.
The promotional period usually lasts anywhere from six to twelve months.
Most times, people use this promotional period
to move outstanding balances from their interest bearing Smart Credit Cards
to one of these, then pay the balances off within the promotional period. Making monthly payments on time is key.
When a single payment is received late, typically
the introductory rates go up to a different
rate. People that are approved for
Smart Credit Cards for Perfect
Credit, and have the chance to get an interest free period
ought to think about this money saving option.
Secured Cards - People that have a secured card
simply inserts money in a savings account.
This "is what makes it a "" secured card"" ." At that point a card is
issued with a credit max in
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 a bill
is generated. If purchases are made an affordable monthly invoice will be sent. Secured Cards
are terrific because they operate the same as
ordinary credit cards allowing people
the freedom to book travel accommodations including airline tickets
that typically do not accept check
cards. One of the best things about the application process is that approval is typically
guaranteed regardless of your credit score. However, keep in mind that many
secured card issuers report whether or not you are keeping up with your payments
to the credit bureaus. This could be a fantastic
way to show creditworthiness by showing regular
payments no matter if you have Perfect
credit or not. Once you have paid
a certain number of consecutive timely payments, many times the limit can be increased without
requiring another deposit to the initial secured account.
Prepaid Credit Cards - With
a Prepaid card, purchases can be made without interest, fees, or finance charges. Similar to
a conventional account, you put money in and that is
your spending limit. As the prepaid credit card
balance has been exhausted, a deposit into the prepaid account can be made and the new credit limit will be the amount of the new deposit. Reloadable prepaid cards
are terrific for students, transactions can be tracked and recorded if necessary, and they work well for individuals that are unable to
get a standard depository account.
Quick approval is generally granted despite
your FICO score and there is
no need for the bank that issues the prepaid cards to deal with the three bureaus.
With all of the various kinds
of Smart Credit Cards
for Perfect credit and
bonuses that are available, there is something for everyone. Look for
Smart Credit Cards that make sense for your situation that will allow you to control your spending habits. When you receive your card always
spend within your budget and stay under the limit. Timely payments are important as well. Perfect credit is fantastic
thing to have.
To guarantee that you keep growing a super credit profile, obey these simple rules:
1. Keep your bill lower than the
credit limit. Another way of saying it is, don't
"go wild". It is important to retain
an account that is no more than sixty percent or less
of the limit on any
Smart Credit Cards for Perfect Credit.
2. Do not make late payments. Even if a small payment can be made, that's ok. If the bill is paid 30 days after the due date, that information could be posted to Experian, Equifax, and Trans Union. This is not good for your FICO score. Not to mention customers may also have to pay a higher interest rate as a consequence of just this one late payment. Hence it is wise to pay on time.
3. Repay the balance in total every time you can.
When purchases are made, do your best to
take a few months and pay it off at least one time per year. When you do this, it is smart to
start using the card again and pay it off once again after over the course of a few billing cycles, and keep utilizing this approach as you complete your monthly budget and annual financial plan.
This pattern confirms to the issuing companies
that you can be a great customer. You could also be rewarded with
a lower rate, higher credit limits, and a better credit score.
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