Top Credit Cards for Excellent
Credit - Knowing The Options
When individuals have
Credit, how do they
know which Top Credit Cards
to pick when there are so many possibilities?
The information below will discuss a few types
of cards to provide a helpful outline
of the benefits of each:
Cash Back - With a Cash Back
card, you may be offered a rebate equal to
a fraction of their purchases. For example,
if a customer has been approved for a Cash Back
option that awards five percent cashback
on food, gas, and drugstore
purchases, as the rebates add up they can converted to cash. If you
pay $150 in gasoline, supermarket items,
and drugstore items every 5-7 days, by
the completion of a year, about four hundred dollars
in cash back rewards would have accumulated.
Rewards Points - Instead
of offering cash back, some issuers
offer points programs. Customers earn
rewards every time the card is used. As purchases are made, the points
increase. When you earn enough points they can be cashed in for great stuff, such as
free merchandise, gift cards, magazines, etc.
It is smart to be aware of whether or not the Top Credit Cards
for Excellent Credit you are considering offers
Fuel Rewards - Credit card issuers
are often times considerate of the cost
of gasoline and will compensate
consumers for their purchases by giving them a free
gasoline card. As the card is used, points are accumulated. Once you have completed enough transactions to accumulate a certain amount of points they can be redeemed for a
free prepaid fuel card. The funny thing is, with some cards redeemable fuel rewards can be accumulated
when buying gas.
Reward Points Toward Free Hotel Stays, Rental Cars or Frequent Flyer Miles - When purchases are made with these cards, free travel points are earned. Once a certain number of points have been accumulated, they can be applied toward all kinds of travel arrangements including free air travel. This kind of card is great for business travelers.
0% Introductory Interest Rates - In the beginning when these credit cards are utilized, there are no finance charges that are applied.
This time period typically lasts anywhere from 6-12 months.
Most times, customers are advised to utilize this interest-free period
to move balances from their interest bearing Top Credit Cards
to one of these and create a personal budget that allows them to pay the whole thing off without having to pay any finance charges. Making monthly payments on time is especially crucial.
When a single payment becomes past due, typically
zero percent APR rates are changed to another
rate. Customers that are applying for
Top Credit Cards for Excellent
Credit, and have the chance to get a 0% introductory rate
ought to choose this opportunity.
Secured Cards for Building Credit - Individuals with one of these
would insert a certain amount of money into a secure account that accumulates interest.
This account serves as the security for the issuer. Then, a card is
extended to the applicant with a spending limit equal to
the opening balance of the interest bearing account that was created. Every time you use it the credit limit decreases, low rate
regularly scheduled payments are calculated, and a bill
is is mailed. If the card is active low monthly payments will become due. Secured Cards for Building Credit
are good because they operate the same as
standard credit cards allowing customers
the freedom to book travel arrangements like rental cars
that generally do not accept consumer checking account
cards. For those with bad credit approval is usually
guaranteed no matter what. This can help in the rebuilding process because most
credit-rebuilding card issuers report your payment schedule and how you keep up with your payments
to be added to your credit profile. This is a fantastic
practice to establish creditworthiness by showing regular
payments whether you have Excellent
credit or not. After paying
a certain number of payments on or before their due date, many times the limit can be increased without
asking for additional collateral.
Reloadable Prepaid Credit Cards - With
a Reloadable Prepaid card, purchases can be made without interest, fees, or finance charges. Just like
a checking account, you put money in and that becomes
the amount that can be spent. When the prepaid card
balance is used up, simply put more cash into the prepaid account and your card will be ready for use once again. Prepaid cards
are good as gifts, they offer the kind of flexibility that debit cards have, and they are a great solution for those that cannot
get a typical bank account.
Fast approval is generally granted regardless of
your FICO 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 kinds
of Top Credit Cards
for Excellent credit and
incentives that are offered, there is something for everyone. Seek
Top Credit Cards that make sense for your situation that will allow you to control your spending habits. Stay smart and always
stay within your credit limit and make your payments on time every month. Awesome credit is an awesome
To be certain that you keep cultivating an awesome credit report, follow these few directions:
1. Maintain your bill lower than the
card's limit. In other words, don't
"go crazy". The banks encourage their cardholders to maintain
a balance that is generally forty to fifty percent
of the available balance on any
Top Credit Cards for Excellent Credit.
2. Pay the bill on time. Even if a small payment can be made, pay it. If the bill is paid 30 days after the due date, it may be reported to the credit reporting companies. This has adverse affects on the consumer's credit report. Additionally, when this happens you may also experience a higher interest rate as a consequence of a single tardy payment. Thus it is smart to stay on top of the bill.
3. Pay the balance in total every so often.
When purchases are made, do your best to
bring the balance to zero as many times a year as possible. Then once your balance is paid off go ahead and
begin creating transaction activity (like buying gas, shopping online, or making purchases) then after a couple of billing cycles, pay the whole thing off just like you did before, and don't stop this habit.
This approach indicates to the issuing companies
that you are a great customer. Some other perks you could get when you repay in this way are
a lower interest rate, a higher credit max, and a more favorable credit report.
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Top Credit Cards
for Excellent credit
are simple to apply for. Click now
to apply for a card that fits