Top Credit Cards for Great
Credit - Understanding The Opportunities
If folks have
Credit, how can they
know which Top Credit Cards
to select when there are so many opportunities?
The information below will discuss a few types
of cards to give you a helpful outline
of the benefits of each:
Cash Back - With a Cash Back
card, customers are rewarded with a reimbursement equivalent to
a percentage of their purchases. For instance,
if an applicant is approved for a Cash Back
solution that offers 5% cash back
on supermarket, gasoline, and drugstore
purchases, as the rebates add up they can be cashed in. If you
pay $150 in fuel, groceries,
and pharmacy items every 5-7 days, at
the end of a year, almost $400
in cash would have accumulated.
Rewards Points - In lieu
of rewarding customers with cash back, some lenders
give points programs. Customers earn
points every time the card is used. Every time the card is used, the rewards
accumulate. When you earn enough points they can be redeemed for great stuff, such as
free rental cars, gift cards, subscriptions, etc.
Always check to see if the Top Credit Cards
for Great Credit you apply for offers
a redeemable rewards program.
Fuel Bonuses - Lenders
can be sensitive to the price
of fuel and will reward
people for making card purchases by giving them a free
gas card. As purchases are made, points are earned. Once you have completed enough transactions to accumulate a certain amount of points you are eligible for a
free prepaid gas card. The funny thing is, with some cards gas rewards can even be earned
while making gas purchases.
Points for Free Rental Car Upgrades, Hotel Rooms, or Frequent Air Travel Miles - When these cards are used, "customers receive "" points"" toward free travel including free frequent flyer miles." Once a specified number of points are earned, they can be redeemed for free travel accommodations. Frequent travelers really like these rewards.
Zero Percent Introductory Rates - Customers that utilize these cards are not charged any interest or finance charges for a certain number of months.
The promotional period usually lasts anywhere from 6-12 months.
Many people use this promotional period
to move outstanding balances from their current Top Credit Cards
to one of these and pay it off while there are no finance charges being accrued. Keeping monthly payments up to date is incredibly important.
When a payment is not received on time, typically
0% APR rates are changed to another
rate. Folks that are eligible for
Top Credit Cards for Great
Credit, and have the chance to get a 0% introductory rate
should think about this money saving option.
Secured Cards to Establish Credit - Individuals with one of these
must put a few hundred to a few thousand dollars, depending on what they could afford, in an interest-bearing savings account.
This "is why the card is called "" secured"" ." At that point a card is
extended to the applicant with a credit max that is the same as
the amount that has been deposited in the account. As the card is used your available credit is recalculated, low rate
monthly payments are calculated, and a bill
is sent. If transactions are being approved, you will receive a payment plan. Secured Cards to Establish Credit
are perfect because they operate like
standard credit cards allowing people
to do things that debit cards may not, like making travel accommodations like hotels, rental cars, airline tickets, or cruises
that commonly do not accept consumer checking account
cards. Individuals with bad credit should apply because approval is typically
guaranteed no matter what. However, keep in mind that most
secured card companies report your repayment history
to be added to your credit profile. This can be a good
approach to show creditworthiness by showing timely
payments whether you have Great
credit or not. After making
a certain number of payments on or before their due date, many times the limit can be increased without
asking for additional collateral.
Pre-paid Credit Cards - With
a Pre-paid card, you get most of the benefits of a credit card without the debt. Just like
a regular bank account, a deposit is made into an account and this is
the credit limit. After the prepaid card
balance is used up, you can recharge it with an additional deposit. Reloadable prepaid credit cards
work wonderfully for staying on a budget, they offer the same flexibility as a check card, and they are generally granted to those that may not qualify to
acquire a typical banking account.
Approval is generally not a problem regardless of
your FICO score and there is
no need for the issuer to send any inquiries to the credit bureaus.
With all of the various types
of Top Credit Cards
for Great credit and
rewards that each of them offer, there is something for everyone. Consider
Top Credit Cards that give the benefits that fit your situation. No matter which card you choose, always
spend within your budget and stay under the limit. Timely payments are important as well. Superb credit is a great
thing to have.
To make sure that you keep growing an excellent FICO report, follow these three tips:
1. Keep your bill at a percentage of the
card's limit. Another way of saying it is, it is not smart to
"over spend". Try to maintain
an account that is about sixty percent or less
of the maximum spending limit on any
Top Credit Cards for Great Credit.
2. Keep the credit card bill paid on time. Even if you cannot make more than the minimum payment due, that's ok. If the bill is paid 30 days after the due date, it will be told to the credit reporting agencies. This could bring down your credit score. As a result, when this happens you may also have to pay a higher interest rate as a result of just this one late payment. Therefore it is wise to pay the bill.
3. Repay all balances down to zero every time your finances will allow.
When the balance gets to be about half of the limit, make it your goal to
pay the balance back down to zero as much as possible. After completing this, go ahead and
start using the card again then after a couple of billing cycles, pay the whole thing off just like you did before, and keep this pattern going
This approach shows the issuers
that you can be creditworthy. Some of the other benefits of this approach are
lower rates, more of a limit, and a better credit score.
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Top Credit Cards
for Great credit
are easy to find. Click now
to get approved for a card that fits