Unsecured Cards for Top Notch
Credit - Understanding The Options
When folks have
Credit, how will they
tell which Unsecured Cards
to select when there are so many opportunities?
This article will expand on several types
of cards to provide a useful outline
of the advantages of each:
Cashback - With a Cashback
card, customers get a refund equivalent to
a fraction of their purchases. For example,
if there is a Cashback
offer that gives 5% cashback
on groceries, gas, and pharmacy
items, as the rebates add up they can converted to cash. If you
use $150 in petro, groceries,
and drug store purchases each week, at
the close of a 12-month period, $390
in cash would have accumulated.
Rewards Points - In lieu
of giving cash back, some lenders
offer redeemable rewards. Customers earn
rewards for making purchases. As purchases are made, the rewards
add up. When you earn enough points they can be cashed in for all kinds of goodies including
free rental cars, gift items, subscriptions, etc.
Always check to see if the Unsecured Cards
for Top Notch Credit you are considering offers
Fuel Bonuses - Lenders
are often times sensitive to the cost
of gasoline and will reward
consumers for using their cards by rewarding them with a prepaid
gas card. As the credit card is utilized, reward points add up. Once a certain number of points are earned you can get a
free prepaid gasoline card. The cool thing is, with some cards fuel points can be earned
while buying fuel.
Points Redeemable for Free Rental Car Upgrades, Hotel Rooms, or Frequent Traveler Miles - When purchases are made with this kind of card, points that can be used as free frequent flyer miles or free travel vouchers are earned. As the points add up, they can be redeemed for free travel accommodations. This kind of card is great for business travelers.
Zero Percent APR Promotions - With these cards, finance charges are not accrued for a certain amount of time.
This time period usually spans six to twelve months.
Most times, people take advantage of promotions such as this
to transfer outstanding balances from their interest bearing Unsecured Cards
to one like this and pay it off while there are no finance charges being accrued. Making timely payments is very important.
When the first payment is overdue, generally
the introductory rates go up to another
rate. Individuals that are approved for
Unsecured Cards for Top Notch
Credit, and have the opportunity to sign up for a 0% promotion
ought to consider this type of card.
Secured Cards to Re-establish Credit - People with a secured card
simply deposits a few hundred to a few thousand dollars, depending on what they could afford, in a bank account that can generate interest.
This account serves as the security for the issuer. At that point a credit card is
offered with a credit limit that is the same as
the opening balance of the interest bearing account that was created. Each time a transaction is approved the credit limit decreases, low interest
recurrent payments are computed, and a monthly invoice
is sent. If transactions are being approved, you will receive a payment plan. Secured Cards to Re-establish Credit
are terrific because they perform the same as
ordinary credit cards allowing people
to complete all kinds of transactions including booking travel arrangements such as rental cars
that sometimes do not accept standard bank account
cards. For those with bad credit approval is usually
guaranteed regardless of your credit score. It is important to note that most
credit-rebuilding card companies submit whether or not you are keeping up with your payments
to Experian, Equifax, and Trans Union. This can be a terrific
way to show creditworthiness by making regular
payments whether you have Top Notch
credit or not. Once you make
six to twelve payments in a row, most times the bank that gave you the card will allow you to make purchases over your current 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, you put money in and that becomes
the amount that can be used for purchases. When the prepaid card
balance has been completely used, it can be reloaded with more money and used again. These cards
are good for parents to use to give an allowance to their teen or college student, transactions can be tracked and recorded if necessary, and they are generally granted to those that may not qualify to
acquire a typical checking account.
Fast approval is generally not a problem despite
your bureau score and there is
no need for the issuer to send any inquiries to the credit bureaus.
With all of the many types
of Unsecured Cards
for Top Notch credit and
bonuses that are available, there is something for everyone. Consider
Unsecured Cards that give the benefits that fit your situation. Make an educated choice and always
try to keep your purchases at less than half of your credit limit and make more than the minimum payment every month. Prime credit is fantastic
thing to have.
To ensure that you keep growing an excellent FICO score, obey these general instructions:
1. Keep your bill less than the
card's max. Another way of saying it is, don't
"go crazy". The banks encourage their cardholders to carry
a bill that is generally forty percent
of the limit on any
Unsecured Cards for Top Notch Credit.
2. Make at least the minimum payment as scheduled. Even if a small payment can be made, that's ok. Once a payment is more than 30 days behind, that information could be told to the credit reporting companies. This has adverse affects on the consumer's credit profile. Additionally, when this happens you may also experience a rising interest rate as a consequence of just one late payment. Hence it is recommended that consumers pay the bill.
3. Pay all balances down to zero every couple months.
When you make purchases, make it your goal to
take a few months and pay it off at least once a year. Subsequently, 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 repayment history demonstrates to the issuing companies
that you can be creditworthy. You could also be rewarded with
low interest rates, a higher limit, and a better credit score.
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for Top Notch credit
are simple to apply for. Click here
to get approved for a card that fits