Recommended Credit Cards for Prime
Credit - Knowing The Choices
When people have
Credit, how do they
know which Recommended Credit Cards
to choose when there are so many possibilities?
The information below discusses a few types
of cards to offer a better outline
of the advantages of each:
Cash Back - With a Cash Back
card, you may be offered a refund equivalent to
a fraction of their transactions. For instance,
if there is a Cash Back
offer that gives 5% cash back
on food, gasoline, and drugstore
purchases, as the cash back rewards add up they earn cash value. If you
pay one hundred and fifty dollars in gas, groceries,
and drug store purchases weekly, by
the close of a 12-month period, almost $400
in cash back rewards would have accumulated.
Redeemable Points - In lieu
of giving cash rebates, some companies
give points programs. Customers earn
points when purchases are made. Every time the card is used, the points
add up. When you earn enough points they can be redeemed for great stuff, such as
free rental cars, gift cards, subscriptions, and more.
It is wise to see if the Recommended Credit Cards
for Prime Credit you are considering offers
a redeemable rewards program.
Gasoline Rewards - Lenders
can be sensitive to the price
of gasoline and will offer an incentive to
consumers for using their credit card by offering them a prepaid
fuel card. As the credit card is utilized, reward points add up. Once a certain number of points are earned you are eligible for a
prepaid gas station card. The cool thing is, with some cards fuel points can be earned
when making gas purchases.
Rewards for Free Hotel Accommodations, Car Rentals, or Frequent Air 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. Once enough points are accumulated, they turn into vouchers that can be used for discounted or free travel arrangements like rental cars, hotels, or even airline tickets. Frequent travelers really like these rewards.
0% Promotions - In the beginning when these credit cards are utilized, there are no finance charges that are applied.
The promotional period usually varies from 6-12 months.
Many folks use this time
to shift balances from their interest bearing Recommended Credit Cards
to one of these, then create a personal budget that allows them to pay the whole thing off without having to pay any finance charges. Keeping monthly payments up to date is very important.
When a payment is not received on time, typically
the interest free introductory rates go up to an interest-bearing
rate. Individuals that are approved for
Recommended Credit Cards for Prime
Credit, and have the opportunity to sign up for an introductory period free of finance charges
ought to choose this type of card.
Secured Cards to Establish Credit - Individuals with this type of card
would deposit a few hundred to a few thousand dollars, depending on what they could afford, into a secure account that accumulates interest.
This account serves as the security for the issuer. Once the account is set up, a card is
issued with a credit limit equal to
the amount that has been deposited in the account. Each time a transaction is approved the amount of that transaction is deducted from your available credit balance, affordable
monthly payments are determined, and a monthly invoice
is sent. If purchases are made an affordable repayment plan will be created. Secured Cards to Establish Credit
are awesome because they operate like
standard credit cards allowing customers
the freedom to book travel accommodations such as rental cars
that typically do not accept check
cards. When applicants have bad credit approval is typically
guaranteed despite your credit profile. This is good because many
secured card companies report your payment schedule and how you keep up with your payments
to the credit bureaus. This is a good
approach to show creditworthiness by making regular
payments no matter if you have Prime
credit or not. Once you have paid
several 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 an additional deposit.
Pre-paid Credit Cards - With
a Pre-paid card, there is no question about the credit limit. Similar to
a checking account, a deposit is made into an account and this is
the credit limit. After the prepaid account
balance is used up, a deposit into the prepaid account can be made and the new credit limit will be the amount of the new deposit. Reloadable cards
are excellent for students, purchases can be tracked, and they are a great solution for those that cannot
get a standard banking account.
Quick approval is generally guaranteed regardless of
your FICO profile and there is
no need for the prepaid card issuer to deal with Experian, Equifax, and TransUnion.
With all of the diverse kinds
of Recommended Credit Cards
for Prime credit and
benefits that are offered, there is a solution available for most credit card seekers. Look for
Recommended Credit Cards that offer rewards that match your lifestyle and spending style. The most important thing is to 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. Excellent credit is an awesome
thing to have.
To ensure that you keep cultivating a superb credit report, take heed to these simple tips:
1. Always have your bill at no more than half of the
credit limit. Simply put, do not
"go wild". Make sure to retain
a balance that is no more than forty percent
of the available balance on any
Recommended Credit Cards for Prime Credit.
2. Pay the bill on time. Even if a minimum payment is all you can afford to make, be sure to pay the bill on time. If you miss a payment, it could be sent to the credit reporting agencies. This is not good for your credit score. And let's not forget the fact that customers may also be assessed more points on the card's interest rate as a consequence of just one late payment. Hence it is recommended that consumers be mindful of the due dates.
3. Pay the entire bill every time you can.
If the card is used a lot, make it your goal to
take a few months and pay it off at least once a year. After the bill has been paid down to zero it is wise to
make more purchases then pay it off once again after over the course of a few billing cycles, and make this your repayment pattern.
This sequence confirms to the issuing companies
that you can be a great customer. You could also be rewarded with
a lower interest rate, more of a limit, and a better FICO score.
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Recommended Credit Cards
for Prime credit
are available online. Click now
to apply for a card that suits