Top Credit Cards for Awesome
Credit - Learning The Choices
When folks have
Credit, how do they
tell which Top Credit Cards
to pick when there are so many choices?
This article discusses a few types
of cards to give you a helpful outline
of the pros of each:
Money Back - With a Money Back
card, customers get a reimbursement that equals
a percentage of their transactions. For instance,
if a customer has been approved for a Money Back
offer that offers 5% cash back
on groceries, gas, and drugstore
purchases, as the rebates add up they can converted to cash. If you
use $150 in gas, supermarket items,
and drugstore items weekly, at
the completion of a year, about four hundred dollars
in cash would have accumulated.
Rewards Points - In lieu
of rewarding customers with cash back, some issuers
present customers with redeemable rewards. Customers receive
points for just about every transaction. As purchases are made, the rewards
increase. After a certain amount of points add up they can be cashed in for great stuff, such as
free rental cars, gifts, magazines, etc.
It is important to know whether or not the Top Credit Cards
for Awesome Credit that you want will offer
Gasoline Bonuses - Companies
can be considerate of the cost
of gasoline and want to compensate
people for making card purchases by giving them a free
gasoline card. As the credit card is utilized, reward points add up. Once a certain number of points are earned they can be cashed in for a
prepaid gasoline card. The cool thing is, with some cards fuel points can be earned
when making fuel purchases.
Points Toward Free Hotel Stays, Rental Cars or Frequent Flyer Miles - When this kind of card is utilized, redeemable points that can be cashed in for free travel miles are earned. Once a certain number of points have been accumulated, they can be redeemed for free travel accommodations. This kind of card is great for business travelers.
Zero Percent Introductory Interest Rates - With these cards, finance charges are not accrued for a certain amount of time.
This time period usually spans six months up to a year.
Many customers are advised to utilize this interest-free period
to shift outstanding balances from their high interest Top Credit Cards
to one of these and pay the balances off within the promotional period. Making timely payments is very important.
When a single payment is not received on time, most
the interest free introductory rates adjust to a higher
rate. People that are approved for
Top Credit Cards for Awesome
Credit, and are offered a 0% introductory rate
ought to choose this type of card.
Secured Cards to Establish Credit - Individuals with a secured credit card
would put a certain amount of money into a savings account.
This is what secures the account. At that point a credit card is
issued with a credit limit equal to
the amount of the deposit. When purchases are made the credit limit decreases, affordable
recurrent payments are determined, and a monthly invoice
is sent. If the card is being used you will receive a payment plan. Secured Cards to Establish Credit
are perfect because they function the same as
conventional credit cards allowing customers
the freedom to book travel accommodations such as rental cars
that generally do not accept debit
cards. When applicants have bad credit approval is typically
guaranteed no matter what. It is important to note that most
credit-rebuilding card companies report whether or not the bill is paid on time
to be added to your credit profile. This is an excellent
practice to establish creditworthiness by showing timely
payments no matter if you have Awesome
credit or not. After paying
several 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.
Prepaid Credit Cards - With
a Prepaid card, you get out of it exactly what you put in. Similar to
a checking account, a deposit is made into an account and that is
the credit limit. After the prepaid credit card
balance becomes depleted, you can recharge it with an additional deposit. Prepaid credit cards
are good for financial planning, transactions can be tracked and recorded if necessary, and they are a great solution for those that cannot
get a typical checking account.
Quick approval is generally granted despite
your credit profile and there is
no need for the bank that issues the prepaid cards to send any inquiries to the credit bureaus.
With all of the various varieties
of Top Credit Cards
for Awesome credit and
benefits that each of them offer, it is easy to identify the best solution for your situation. Seek
Top Credit Cards that make sense for your situation that will allow you to control your spending habits. When you receive your card 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 fantastic
To make sure that you keep building the best FICO profile, obey these general rules:
1. Keep your outstanding balance at no more than half of the
credit max. In other words, don't
"max out". The banks encourage their cardholders to maintain
a bill that is somewhere around sixty percent or less
of the maximum spending limit on any
Top Credit Cards for Awesome Credit.
2. Keep the credit card bill paid on time. Even if a small payment can be made, that's ok. Once a payment is more than 30 days behind, it could be posted to the credit bureaus. This could bring down your credit report. As a result, you may also experience a higher interest rate as a consequence of one tardy payment. Therefore it is wise to stay on top of the bill.
3. Repay the balance completely every time your finances will allow.
When purchases are made, make it your goal to
pay the balance back down to zero as often as you can. When you do this, it is wise to
make more purchases then after a couple of billing cycles, pay the whole thing off just like you did before, and keep utilizing this approach as you complete your monthly budget and annual financial plan.
This process illustrates to the issuers
that you are a great customer. You could also be rewarded with
low rates, a higher credit max, and a higher FICO score.
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Top Credit Cards
for Awesome credit
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