Top Credit Cards for Prime
Credit - Knowing The Possibilities
When people have
Credit, how can they
know which Top Credit Cards
to pick when there are so many possibilities?
This article will expand on several kinds
of cards to offer a useful outline
of the benefits of each:
Money Back - With a Money Back
card, customers are offered a repayment that is the same as
a fraction of their transactions. For instance,
if a customer has been approved for a Money Back
offer that gives 5% cashback
on food, fuel, and drugstore
items, as the cash back rewards add up they earn cash value. If you
use $150 in petro, supermarket items,
and drug store items every 5-7 days, at
the close of a 12-month period, almost $400
in rebates would have accumulated.
Rewards Points - Instead
of giving cash rewards, some issuers
give points programs. Customers receive
points for making purchases. Every time the card is used, the points
accumulate. Once a specified number of points have accumulated they can be redeemed for great stuff, such as
free rental cars, gift items, magazines, and so on.
It is wise to see if the Top Credit Cards
for Prime Credit you are considering offers
a points program.
Gasoline Bonuses - Lenders
are often times considerate of the cost
of gas and want to compensate
consumers for their purchases by rewarding them with a prepaid
fuel card. As transactions are completed, points are accumulated and summarized. Once enough points have been earned they can be turned in for a
prepaid gasoline card. The funny thing is, with some cards gas rewards can even be earned
when buying gas.
Reward Points Toward Free Hotel Accommodations, Car Rentals, or Frequent Air Traveler Miles - When purchases are made with this kind of card, redeemable points that can be cashed in for free travel miles 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. These programs are great for frequent travelers.
0% Introductory Interest Rates - Customers that utilize these cards are not charged any interest or finance charges for a certain number of months.
The period where no finance charges are being applied typically spans half a year to a whole year.
Most times, folks take advantage of this time
to transfer outstanding 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 timely payments is crucial.
When the first payment is paid after the due date, generally
the introductory rates go up to a much higher
rate. Customers that are eligible for
Top Credit Cards for Prime
Credit, and are offered a zero percent promotion
should consider this money saving option.
Secured Cards to Build Creditworthiness - Customers that have a secured card
simply inserts money into a bank account that can generate interest.
This becomes the card's collateral At that point a card is
issued with a line of credit that is the same as
the amount of the deposit. When purchases are made the amount of that transaction is deducted from your available credit balance, affordable
recurrent payments are computed, and a monthly invoice
is is mailed. If purchases are made a relatively small monthly payment is expected. Secured Cards to Build Creditworthiness
are excellent because they function the same as
standard credit cards allowing you
the freedom to book travel accommodations like hotels
that generally do not take prepaid or debit
cards. For those with bad credit approval is usually
guaranteed no matter what. But do not forget that many
credit-rebuilding card companies submit whether or not you are keeping up with your payments
to Experian, Equifax, and Trans Union. This is a terrific
method to prove you are creditworthy by paying scheduled
payments whether you have Prime
credit or not. After paying
a certain number of payments in a row, some secured card companies will approve a higher limit without
requiring another deposit to the initial secured account.
Pre-paid Credit Cards - With
a Pre-paid card, there is no question about the credit limit. Similar to
a typical bank account, a certain amount of money is deposited into an account and that is
the credit limit. When the prepaid account
balance becomes depleted, it can be reloaded with more money and used again. Reloadable prepaid credit cards
are terrific for financial planning, they offer the same flexibility as a check card, and they help people that cannot
obtain a normal checking account.
Approval is typically not a problem regardless of
your credit profile and there is
no need for the issuer to send any inquiries to the credit bureaus.
With all of the diverse sorts
of Top Credit Cards
for Prime credit and
rewards that are available, there is something for everyone. Consider
Top Credit Cards that give the benefits that fit your situation. 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 a wonderful
thing to have.
To ensure that you keep growing an awesome FICO profile, obey these general directions:
1. Keep your outstanding balance at a percentage of the
credit limit. Another way of saying it is, don't
"over spend". Try to carry
a balance that is about sixty percent or less
of the available balance on any
Top Credit Cards for Prime Credit.
2. Pay the bill on time. Even if a minimum payment is all you can afford to make, that's ok. If the bill is paid 30 days after the due date, that information must be sent to the credit reporting agencies. This has adverse affects on the consumer's FICO report. Additionally, when this happens you may also experience a higher interest rate as a consequence of a solitary late payment. Therefore it is wise to make this bill payment a financial priority.
3. Repay the balance in total every so often.
When the balance gets to be about half of the limit, try to
bring the balance to zero at least one time per year. Subsequently, go ahead and
make more purchases and pay it off once again after over the course of a few billing cycles, and keep this pattern going
This cycle illustrates to the issuing companies
that you will be an excellent credit candidate. Once this sequence is repeated a couple of times, you could qualify for
a lower rate, an increased credit limit, and a higher FICO score.
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Top Credit Cards
for Prime credit
are simple to apply for. Click here
to start the application for a card that suits