Credit Building Credit Cards Announces The Benefits You Will Receive By Using One Of These Cards
Bad credit? No credit? Not a problem! Credit builder credit cards are designed to help borrowers quickly establish a credit base or raise a poor existing credit score.
Credit builder credit cards are designed to help borrowers quickly establish a credit base or raise a poor existing credit score. A credit builder credit card is the preferred method to purchase the items you need today while raising your credit score for the future.
Credit builder credit cards are unique in the sense that they are targeted to individuals who customarily would not qualify for a traditional credit card. The ability to draw credit at the best interest rate available is of the utmost importance to individuals concerned with their financial well-being.
In order to obtain the best interest rates on mortgages, credit cards and an array of other financial instruments, borrowers should strive for a FICO credit score that is over 650. While it may be difficult to determine the exact calculation method the credit bureaus use to determine a FICO score, one of the well known facts in personnel finance circles is a key factor in this score is a history of continuous timely payments on an existing credit card.
Credit builder credit cards are available from multiple lenders and have different terms and conditions in order to better serve borrowers and allow them to build or restore their credit history.
An interested borrower should carefully research the alternative cards on the market and determine what card is best tailored to their individual needs. One of the key factors to consider when choosing the card that is best for you are the rates, fees and limits associated with the selected card.
Borrowers should understand that the rates and fees associated with a credit builder credit card are typically higher than those of traditional credit cards due to the additional risk associated with providing credit to borrowers with no prior or poor credit history.
Borrowers should also ensure that the company issuing the card regularly reports account activity and payment history to the three major credit reporting bureaus: Experian, Equifax and TransUnion.
If a borrower follows the research steps above; makes affordable purchases with the card and pays the statement balance in full each month, the credit builder credit card would be a smart tool for their management of a credit score.
In order to build your credit score and qualify for the best interest rates available, please visit creditbuildercreditcards.org and determine which of these cards is right for you.
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- Nancy Surace
- Nancy Surace
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