Top Cards for Fair
Credit - Knowing The Opportunities
If people have
Credit, how can they
distinguish which Top Cards
to choose when there are so many possibilities?
The information below discusses a few types
of cards to give you a helpful outline
of the pros of each:
Cashback - With a Cashback
card, customers are rewarded with a refund that is the same as
a percentage of their transactions. For instance,
if somebody has a Cashback
offer that provides five percent cash back
on supermarket, gasoline, and pharmacy
purchases, as purchases increase and rewards accumulate, they can be cashed in. If you
use $150 in fuel, supermarket items,
and drug store items weekly, by
the conclusion of a 12-month period, about four hundred dollars
in rebates would be ready to cash out.
Redeemable Points - In lieu
of rewarding customers with cash back, some companies
present customers with redeemable rewards. Customers get
rewards every time the card is used. As purchases are made, the points
add up. Once a specified number of points have accumulated they can be cashed in for things like
free hotel stays, gift cards, subscriptions, etc.
It is wise to see if the Top Cards
for Fair Credit you are considering offers
Fuel Bonuses - Credit card issuers
are often times understanding about the price
of fuel and want to reward
consumers for using their cards by rewarding them with a prepaid
gas card. As transactions are completed, points are accumulated and summarized. Once a certain number of points are earned you can get a
prepaid gasoline card. The funny thing is, with some cards gas points are actually accumulated even
when you are gassing up your vehicle.
Reward Points Toward Free Rental Car Upgrades, Hotel Rooms, or Frequent Air Traveler Miles - When these cards are used, free travel points are earned. As the points add up, they can be cashed in exchange for free airline tickets, hotel stays, or rental cars. Frequent travelers really like these rewards.
0% Promotional Interest Rates - With these cards, finance charges are not accrued for a certain amount of time.
The promotional period usually lasts anywhere from six months up to a year.
Smart people use this kind of card
to transfer outstanding balances from their high interest Top Cards
to one of these, then pay it off while there are no finance charges being accrued. Making timely payments is very important.
When one payment becomes past due, most
the interest free rates go up to an interest-bearing
rate. Folks that are applying for
Top Cards for Fair
Credit, and are offered an introductory period free of finance charges
should consider this money saving option.
Secured Cards to Establish Credit - Customers with this type of card
would deposit a cash amount into an interest-bearing savings account.
This account serves as the security for the issuer. After the deposit is made a card is
offered with a line of credit in
the amount that has been deposited in the account. When purchases are made the credit limit decreases, low rate
recurrent payments are determined, and a monthly invoice
is given to you. If the card is being used an affordable monthly invoice will be sent. Secured Cards to Establish Credit
are excellent because they function like
normal credit cards allowing people
to do things that debit cards may not, like making travel arrangements such as vehicle rentals
that generally do not accept standard bank account
cards. Individuals with bad credit should apply because approval is ordinarily
guaranteed regardless of your credit score. It is important to note that many
secured card companies report your repayment history
to be added to your credit profile. This is a wonderful
approach to show creditworthiness by showing regular
payments whether you have Fair
credit or not. After making
six to twelve payments in a row, some secured card companies will approve a higher limit without
asking for more cash to be put into the account that was used to set up the card.
Reloadable Prepaid Credit Cards - With
a Reloadable Prepaid card, purchases can be made without interest, fees, or finance charges. Just like
a regular bank account, a deposit is made into an account and that is
the amount that can be spent. As the prepaid account
balance reaches zero, simply put more cash into the prepaid account and your card will be ready for use once again. Prepaid cards
work wonderfully for students, purchases can be tracked, and they work well for individuals that are unable to
get a regular checking account.
Approval is normally not a problem despite
your bureau score and there is
no need for the issuer to send any inquiries to the three bureaus.
With all of the various kinds
of Top Cards
for Fair credit and
incentives that are offered, there is a solution available for most credit card seekers. Look for
Top Cards that give the benefits that fit your situation. When you receive your card always
try to keep your purchases at less than half of your credit limit and make more than the minimum payment every month. Excellent credit is fantastic
thing to have.
To ensure that you keep cultivating the perfect FICO profile, take heed to these easy guidelines:
1. Keep a balance at no more than half of the
credit limit. Another way of saying it is, do not
"max out". It is smart to keep
an account that is somewhere around fifty percent
of the max on any
Top Cards for Fair Credit.
2. Keep the credit card bill paid on time. Even if the minimum is the most that your budget will allow, that's ok. If the bill is paid 30 days after the due date, it will be posted to the credit bureaus. This is not good for the consumer's credit report. Unfortunately, when this happens you may also experience a higher interest rate as a consequence of one delayed payment. Thus it is smart to make payments.
3. Repay the entire bill every time you can.
When you make purchases, do your best to
pay the balance back down to zero as much as possible. After completing this, it is wise to
begin creating transaction activity (like buying gas, shopping online, or making purchases) then pay it back down to zero again after a few months, and keep this pattern going
This repayment history demonstrates to the issuing companies
that you will be creditworthy. Some other perks you could get when you repay in this way are
low rates, a higher credit max, and a higher credit score.
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are available online. Act now
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