Top Credit Cards for Great
Credit - Understanding The Options
When individuals have
Credit, how will they
know which Top Credit Cards
to pick when there are so many choices?
The information below will expand on a few varieties
of cards to provide a helpful outline
of the advantages of each:
Money Back - With a Money Back
card, customers are rewarded with a rebate equal to
a percentage of their purchases. For instance,
if an applicant is approved for a Money Back
offer that offers 5% cashback
on supermarket, gasoline, and drugstore
purchases, as the rebates add up they can be cashed in. If you
spend one hundred and fifty dollars in gasoline, groceries,
and drugstore purchases weekly, at
the end of a year, almost $400
in cash back rewards would have accumulated.
Rewards Points - Instead
of providing cash back, some lenders
give points programs. Customers earn
rewards for making purchases. With each swipe of the card, the points
increase. Once a specified number of points have accumulated they can be redeemed for things like
free rental cars, gift items, subscriptions, and so on.
It is important to know whether or not the Top Credit Cards
for Great Credit that you want will offer
Petro Rewards - Card Issuers
are often times understanding about the price
of gasoline and will compensate
their customers for making card purchases by giving them a prepaid
fuel card. As purchases are made, points are earned. After a specified amount of points are accumulated you are eligible for a
free prepaid gas card. Sometimes, gas points are actually accumulated even
while you are gassing up your vehicle.
Reward Points Toward Free Hotel Stays, Rental Cars or Frequent Traveler Miles - When purchases are made with these cards, free travel points are earned. Once enough points are accumulated, they can be cashed in for discounted or free airline tickets or travel accommodations. Business travelers find these kinds of programs to be very beneficial.
Zero Percent Promotional Interest Rates - Finance charges are not applied on these cards for a specified amount of time.
This time period typically varies from half a year to a whole year.
Smart folks use this kind of card
to move outstanding balances from their high interest Top Credit Cards
to one of these, then pay the balances off within the promotional period. Paying the bill on or before the due date is incredibly important.
When a single payment is not received on time, typically
zero percent APR rates go up to a much higher
rate. People that are offered
Top Credit Cards for Great
Credit, and have the chance to get an introductory period free of finance charges
should think about this card.
Secured Cards to Establish Credit - Customers with this type of card
would deposit money into an account that generates interest that the secured card issuer will set up.
This account serves as the security for the issuer. At that point a credit card is
sent with a spending limit that is the same as
the amount that has been deposited in the account. When purchases are made the credit limit decreases, low interest
monthly payments are calculated, and a monthly invoice
is generated. Just like any other credit card, when you use it a relatively small monthly payment is expected. Secured Cards to Establish Credit
are perfect because they function like
conventional credit cards allowing customers
to do things that debit cards may not, like making travel arrangements including hotels, rental cars, airline tickets, or cruises
that typically do not take debit
cards. Another great feature is that approval is usually
guaranteed regardless of your credit score. However, keep in mind 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 a good
technique to establish creditworthiness by showing timely
payments no matter if you have Great
credit or not. Once you have paid
several payments in a row, many times the limit can be increased without
requiring an additional deposit.
Reloadable Prepaid Credit Cards - With
a Reloadable Prepaid card, there is no question about the credit limit. Similar to
a conventional account, a deposit is made into an account and this becomes
the amount that can be spent. After the prepaid account
balance is used up, simply put more cash into the prepaid account and your card will be ready for use once again. These cards
work wonderfully as gifts, they offer the kind of flexibility that debit cards have, and they are a great solution for those that cannot
get a normal bank account.
Fast approval is normally not a problem regardless of
your FICO score and there is
no need for the prepaid company to deal with the credit bureaus.
With all of the various sorts
of Top Credit Cards
for Great credit and
bonuses that they have, there is a solution available for most credit card seekers. Consider
Top Credit Cards that offer rewards that match your lifestyle and spending style. Stay smart and always
make wise purchases and timely payments. Top notch credit is a wonderful
To guarantee that you keep growing an excellent FICO score, follow these easy instructions:
1. Keep your outstanding balance lower than the
card's max. In other words, do not
"max out". The banks encourage their cardholders to retain
an account that is about forty to fifty percent
of the maximum spending limit on any
Top Credit Cards for Great Credit.
2. Keep the credit card bill paid on time. Even if the minimum is the most that your budget will allow, the most important thing is that the payment is made when it is due. If you miss a payment, it may be reported to the credit reporting companies. This is bad for your FICO profile. Additionally, customers may also have to pay a rising interest rate as a consequence of something as small as a tardy payment. Hence it is wise to make this bill payment a financial priority.
3. Repay all balances down to zero every few months.
If the card is used a lot, do your best to
pay it all off as many times a year as possible. After completing this, you can feel free to
begin creating transaction activity (like buying gas, shopping online, or making purchases) and pay it back down to zero again after a few months, and keep this cycle going.
This pattern indicates to the issuers
that you can be an excellent credit candidate. Most lenders reward customers like this with
low rates, higher credit limits, and a higher credit score.
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for Great credit
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