Top Cards for Rebuilding
Credit - Understanding The Opportunities
If individuals have
Credit, how can they
tell which Top Cards
to select when there are so many options?
The information below will expand on a couple kinds
of cards to give you a useful outline
of the pros of each:
Money Back - With a Money Back
card, customers are rewarded with a reimbursement that is the same as
a fraction of their transactions. For example,
if somebody is approved for a Money Back
option that offers 5% cash back
on groceries, gasoline, and pharmacy
purchases, as the rebates add up they can converted to cash. If you
use $150 in petro, groceries,
and pharmacy items every 5-7 days, by
the end of a year, about four hundred dollars
in cash back rewards would have accumulated.
Redeemable Points - In lieu
of giving cash rebates, some companies
offer redeemable rewards. Customers earn
rewards for making purchases. With each swipe of the card, the points
increase. After a certain amount of points add up they can be redeemed for great stuff, such as
free rental cars, gift cards, magazines, etc.
Be sure to find out if the Top Cards
for Rebuilding Credit you apply for offers
a points program.
Fuel Bonuses - Credit card issuers
are often times sensitive to the cost
of gasoline and will compensate
people for using their credit card by offering them a free
gas card. As transactions are completed, points are accumulated and summarized. Once a certain number of points are earned you are eligible for a
prepaid gasoline card. The cool thing is, with some cards gas points are actually accumulated even
when making fuel purchases.
Rewards for Free Rental Car Upgrades, Hotel Rooms, or Frequent Air Traveler Miles - When purchases are made with this kind of card, free travel points are earned. Once a certain number of points have been accumulated, they can be cashed in for discounted or free airline tickets or travel accommodations. These programs are great for frequent travelers.
Zero Percent Promotional Interest Rates - In the beginning when these credit cards are utilized, there are no finance charges that are applied.
The period where no finance charges are being applied typically spans half a year to a whole year.
Typically, people take advantage of promotions such as this
to move their balance from their current Top 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 especially crucial.
When one payment is paid after the due date, most times
0% APR rates are changed to an interest-bearing
rate. Folks that are eligible for
Top Cards for Rebuilding
Credit, and are offered a 0% introductory rate
ought to consider this card.
Secured Cards to Build Creditworthiness - Customers with this type of card
would insert a specified amount of cash in a secure account that accumulates interest.
This "is what makes it a "" secured card"" ." Then, a credit card is
extended to the applicant with a credit limit that is the same as
the amount of the deposit. Each time you swipe your card the amount of that transaction is deducted from your available credit balance, low interest
regularly scheduled payments are calculated, and a bill
is is mailed or emailed if you choose paperless billing. Just like any other credit card, when you use it low monthly payments will become due. Secured Cards to Build Creditworthiness
are perfect because they function the same as
regular credit cards allowing customers
to do things that debit cards may not, like making travel arrangements including rental cars
that sometimes do not take debit
cards. However, just like prepaid cards approval is typically
guaranteed even if your credit is poor. However, keep in mind that many
secured card issuers submit your repayment history
to the credit bureaus. This could be a terrific
technique to establish creditworthiness by showing regular
payments whether you have Rebuilding
credit or not. Once you make
six to twelve 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 an additional deposit.
Pre-paid Credit Cards - With
a Pre-paid card, there is no guesswork. Just like
a regular bank account, you put money in and that becomes
the credit limit. As the prepaid card
balance is used up, you can recharge it with an additional deposit. Reloadable prepaid cards
work wonderfully for students, transactions can be tracked and recorded if necessary, and they work well for individuals that are unable to
obtain a standard depository account.
Approval is usually not a problem regardless of
your FICO score and there is
no need for the prepaid company to send any inquiries to the three bureaus.
With all of the many varieties
of Top Cards
for Rebuilding credit and
rewards that exist, there is something for everyone. Look for
Top Cards that offer rewards that match your lifestyle and spending style. When you receive your card always
spend within your budget and stay under the limit. Timely payments are important as well. Perfect credit is a wonderful
To make certain that you keep building a prime FICO score, take heed to these simple instructions:
1. Keep your bill less than the
card's max. In other words, don't
"over spend". The banks encourage their cardholders to maintain
a bill that is no more than fifty percent
of the maximum spending limit on any
Top Cards for Rebuilding Credit.
2. Do not make late payments. Even if you cannot make more than the minimum payment due, it is better to make that small payment on time then it is to try and pay more at a later date. When payments are made more than 30 days late, that information could be posted to the credit bureaus. This negatively affects your credit score. Additionally, customers may also experience a rising interest rate as a result of just this one tardy payment. Therefore it is smart to make this bill payment a financial priority.
3. Repay the balance completely every time you can.
When purchases are made, try to
pay it all off at least once a year. Afterward, it is okay to
start using the card again and pay it off once again after over the course of a few billing cycles, and make this your repayment pattern.
This sequence confirms to the issuers
that you can be an excellent credit candidate. Some of the other benefits of this approach are
lower rates, more of a limit, and a higher FICO score.
Our network members proudly serve
one or more of the following areas: Alabama
* Alaska * Arizona * Arkansas * California
* Colorado * Connecticut * Delaware * District
of Columbia * Florida * Georgia * Hawaii
* Idaho * Illinois * Indiana * Iowa * Kansas
* Kentucky * Louisiana * Maine * Maryland
* Massachusetts * Michigan * Minnesota *
Mississippi * Missouri * Montana * Nebraska
* Nevada * New Hampshire * New Jersey *
New Mexico * New York * North Carolina *
North Dakota * Ohio * Oklahoma * Oregon
* Pennsylvania * Rhode Island * South Carolina
* South Dakota * Tennessee * Texas * Utah
* Vermont * Virginia * Washington * West
Virginia * Wisconsin * Wyoming
for Rebuilding credit
are waiting for your application. Click here
to start the application for a solution that could be the answer to