Top Credit Cards for Good
Credit - Learning The Opportunities
When individuals have
Credit, how can they
tell which Top Credit Cards
to pick when there are so many possibilities?
This article will discuss a couple types
of cards to provide a better understanding
of the benefits of each:
Cash Back - With a Cash Back
card, you may be offered a refund that equals
a fraction of their transactions. For example,
if somebody has a Cash Back
solution that offers 5% cash back
on groceries, gas, and drugstore
purchases, as the rewards accumulate they can converted to cash. If you
spend one hundred and fifty dollars in gasoline, groceries,
and drug store purchases weekly, by
the close of a year, $390
in cash back rewards would be available.
Rewards Points - Instead
of providing cash rebates, some lenders
present customers with points programs. Customers get
rewards for making purchases. Every time the card is used, the points
increase. Once a specified number of points have accumulated they can be cashed in for things like
free travel, gift cards, subscriptions, and so on.
Always check to see if the Top Credit Cards
for Good Credit you apply for offers
Gasoline Bonuses - Credit card issuers
are often times sensitive to the price
of fuel and want to give incentives to
people for making card purchases by giving them a free
gasoline card. As purchases are made, points are earned. After a specified amount of points are accumulated they can be cashed in for a
prepaid gas station card. Sometimes, gas points are actually accumulated even
when you are gassing up your vehicle.
Points Redeemable for Free Hotel Stays, Rental Cars or Frequent Air Travel Miles - When this kind of card is utilized, free travel points are earned. Once a specified number of points are earned, they can be cashed in exchange for free airline tickets, hotel stays, or rental cars. Business travelers find these kinds of programs to be very beneficial.
Zero Percent Introductory Rates - In the beginning when these credit cards are utilized, there are no finance charges that are applied.
The promotional period typically varies from six months up to a year.
Smart people are advised to utilize this promotional period
to shift their balance from their high interest Top Credit Cards
to one of these, then pay the balances off within the promotional period. Keeping monthly payments up to date is incredibly important.
When the first payment is overdue, generally
0% APR rates adjust to an interest-bearing
rate. Customers that are applying for
Top Credit Cards for Good
Credit, and have the opportunity to sign up for an introductory period free of finance charges
should consider this opportunity.
Secured Cards for Building Credit - Individuals with a secured card
would deposit a few hundred to a few thousand dollars, depending on what they could afford, in a bank account that can generate interest.
This is what secures the account. At that point a credit card is
offered with a credit max in
the amount of the deposit. As the card is used the amount of that transaction is deducted from your available credit balance, affordable
recurrent payments are determined, and a bill
is generated. If purchases are made low monthly payments will become due. Secured Cards for Building Credit
are great because they function like
standard credit cards allowing customers
to complete all kinds of transactions including booking travel accommodations such as hotels, rental cars, airline tickets, or cruises
that sometimes do not accept debit
cards. When applicants have bad credit approval is generally
guaranteed regardless of your credit score. This can help in the rebuilding process because many
credit-rebuilding card issuers submit whether or not you are keeping up with your payments
to the credit bureaus. This can be a good
method to prove you are creditworthy by showing timely
payments no matter if you have Good
credit or not. Once you make
six to twelve payments in a row, most issuers will increase your credit 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. Similar to
a regular bank account, you put money in and this becomes
your spending limit. As the prepaid account
balance has been completely used, it can be reloaded with more money and used again. Reloadable prepaid credit cards
are great for budgeting, purchases can be tracked, and they work well for individuals that are unable to
get a regular banking account.
Fast approval is normally granted regardless of
your bureau report and there is
no need for the issuer to contact the credit bureaus.
With all of the diverse types
of Top Credit Cards
for Good credit and
rewards that each of them offer, there is something for everyone. Consider
Top Credit Cards that offer rewards that match your lifestyle and spending style. Stay smart and always
spend wisely and pay the bill on or before the due date. Awesome credit is a great
thing to have.
To guarantee that you keep building a great credit profile, follow these few rules:
1. Always have your outstanding balance at a percentage of the
card's limit. In other words, it is not smart to
"go crazy". Experts agree that consumers should keep
an account that is no more than half
of the limit on any
Top Credit Cards for Good Credit.
2. Do not default on payments. Even if you have to make just the minimum payment that is listed on your monthly statement, that's ok. If the bill is paid 30 days after the due date, it must be forwarded to Experian, Equifax, and Trans Union. This has adverse affects on your credit report. And let's not forget the fact that when this happens you may also have more points on the card's interest rate as a result of a delayed payment. Therefore it is recommended that consumers be mindful of the due dates.
3. Pay all balances down to zero every couple months.
When the balance gets to be about half of the limit, try to
bring the balance to zero at least one time per year. After the bill has been paid down to zero it is smart to
make more purchases then pay it back down to zero again after a few months, and keep this pattern going
This cycle indicates to the issuing companies
that you can be creditworthy. Some other perks you could get when you repay in this way are
low rates, higher credit limits, and a better FICO score.
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Top Credit Cards
for Good credit
are easy to find. Click now
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